When you need a merchant account to accept credit card payments and other online payments on your website you will need to ensure that your offshore company is located in an offshore jurisdiction which is accepted by the Acquiring Banks.

Many online businesses suffer in the search of a merchant account while they apply with an offshore company that is located for instant in Panama, Belize, Seychelles or British Virgin Islands, they face huge problems to be accepted by the Acquiring banks and often have to pay ridiculous processing fees.

There are ways to avoid the mentioned problems and to open a Merchant Account for your online business, also the credit card acceptance don’t need to be expansive, for instant if you incorporate your company in Cyprus you won’t be limited and can apply for an merchant account with any bank in Europe which also will accept your company as a merchant (depending on the business) the benefits are a strong privacy, asset protection and a large number of Acquiring banks with which you can apply. To open a Merchant Account isn’t complicated if all the documents required are prepared and the business is acceptable by the Acquiring bank in question, the requirements for the opening of a merchant account with an Acquiring bank are, utility bill in English and not older than 3 months, copy of passport, all corporate documents apostilled and in some cases notarized, a brief business description which explains what it is your website is going to sell your customers and how the payment process is.

When applying for a merchant account it is important to have all required documents and information submitted at once to the Acquiring bank, it will course huge delays when the bank has to request several documents missing, one by one, and often the process will be complicated.

We suggest you to incorporate a new company in Cyprus, have the agency to deal with the opening of the merchant account, since they will have all the corporate documents available and if the right agency is found, they will also pass through “buy rate” to the merchant, which means less expansive and very competive payment processing fees and rates.

CCLOGIC LLC is specialized in the opening of merchant accounts and has a large number of Acquiring Banks and Payment gateways available, our 9 years of experience in this business make us able to place almost any business including High Risk considered merchants. Further to our payment processing services we have many years of experience in the registering of Cyprus Offshore Companies and the opening of bank accounts in Cyprus.

When researching merchant accounts don’t just go for the cheapest one you can find. Cheap merchant accounts won’t offer the services that more expensive ones have; check out the features attached to each to see if they are worth the money. Also some account providers will offer a low rate to entice you into choosing their account, but then will increase this rate after a few months. Look out for any hidden fees that haven’t been mentioned or advertised up front by the account provider. Some merchant accounts have penalties if you decide to cancel or increase the rates if volume targets aren’t met. Junk fees can be disguised by using a variety of names, such as security fee, conversion fee, excessive transactions fees, discount rate fees or over the limit fee, so verify what these are before you settle on an account.

Before you decide on the merchant account suited to your business, understanding a little about merchant accounts should be high on your priority list as monthly fees can differ immensely. The more you know and understand your merchant account, the better you will control your business. There are many factors to consider when looking at merchant accounts, amongst them the ease with which the account is set up, how simple it is to operate and the reputation and professional attitude of the merchant account provider. Never underestimate the importance of an anti-fraud system as chargeback

Merchant Account and Payment Gateway

Accepting credit card payments on your website is standard practice these days and if your site is not yet doing this, then you will definitely be losing customers and business. Credit cards can ensure business transactions are quicker and easier for all involved and lead to expansion.  Online businesses are nervous about accepting credit cards due to the penalties banks charge if credit card fraud occurs, setting up a merchant account can be a simple process that will identify and reduce the number of fraudulent transactions. A little research can find the right merchant account suited to your type of business

There are a number of benefits to accepting credit card payments online, first and foremost it will enable your customer base to grow and you’ll never have to turn a customer away again. Many people now use the internet to shop for a wide range of products as it is now possible to purchase items online without ever having to leave the comfort of our homes. The availability of the website will also open up your products to the worldwide market and attract international customers. Credit card payments are more convenient for everyone involved. With the setting up of a merchant account, everything is done automatically so sales will increase due to their availability 24 hours a day, every day of the year.

Merchant Account & Payment Gateway

To accept credit cards through a third party merchant you will need an understanding of what each offers and fees applied. These accounts can be preferable for smaller and newly set up companies who generate a small profit or don’t know yet how much profit they will make and they tend to be easier to set up.

Transaction fees are percentage-based and generally set at a slightly higher percentage with these types of accounts as the merchant is responsible for performing many of the business transactions, leaving you time to concentrate on selling your merchandise. The merchant then forwards the money at the end of each payment period.

Realistically, unless your business generates a large number of sales transactions, a third-party payment processing service will work out more cost effective than attempting to set up and retain your own web-based payment system. Also, many third-party merchant account services will offer some level of customer service, such as credit card chargeback complaints. There are numerous third party merchants available. Look for a reliable and well known company, check out their websites and weigh up the services each has to offer and their reputation before making your decision.

Credit card fraud online is prevalent and criminals make use of clever techniques in their fraudulent transactions. Which ever merchant account you decide upon ensure your website employs a high level of security with a good anti-fraud system that will help minimize fraudulent transactions.

Real Merchant Account (MID) with own descriptor and directly with the bank with CCLOGIC.COM

One of the first things to consider when you plan to sell your products or services online is the type of payment methods to offer your customers. For increased sales and to attract a larger section of the market it makes common sense to accept credit card payments. Gone are the days of writing cheques or sending postal orders, most shopper’s now possess credit cards for their convenience. People with credit cards are more liable to buy on impulse if they like what they see and also accepting credit cards will attract international customers for its easy payment process and no need to convert currency.

To enable your website to accept credit cards you first need to set up a merchant account. You can either open up your own merchant account through a bank or other financial institution, or use a third party merchant account payment processing service. Below are some basic guidelines on both methods to help decide on the best option for your online business.

There are fees connected with both types of merchant accounts including transaction fees to be paid to the bank or third party merchant each time a sale is made. As with any business, there are risks involved with credit card fraud but these can be reduced by utilizing a high quality anti-fraud system.

CCLOGIC.COM