Choosing an Offshore Merchant Account Provider

The rapid expansion of the internet and mobile devices has helped fuel the growth of global ecommerce. Global ecommerce sales are expected to rise to over $3.578 trillion by 2019. By taking your online store global, you can expand your reach and increase sales to ultimately grow your business. In order to sell products internationally, you'll need an international merchant account. Here's what to look for in an offshore merchant account provider: 

Multi-Currency Processing 

In order to expand into new markets, you need to be able to accept the local currency. There are 180 currencies recognized as legal tender by the United Nations. Even if you're just expanding your product offerings to a few additional countries or territories, you should choose an offshore merchant account that's capable of accepting most of these currencies. As your business continues to grow, this will enable you to sell your products in emerging markets. 

Competitive Pricing

Are the merchant account provider's fees fair and reasonable? Make sure you understand the provider's rate structure prior to picking a service. While some online merchant account providers require a flat monthly rate, others base their fees on volumes and transaction values. The latter can be more beneficial, as the amount you pay will directly relate to revenue and how much you sell. Therefore, you won't be losing money in slower months.

Customer Service 

In case you have questions or experience issues with your account, you need an international merchant account provider that offers reliable 24-hour support.