Internet
Merchant Accounts are designed to facilitate credit
card transactions over the internet. If you operate an online
business and do e-commerce, we have the
perfect solutions for you to obtain privacy, and avoid all of the
burdensome rules and regulations surrounding online e-commerce
in your domestic country.
Establishing
a tax free offshore internet e-commerce business involves three
simple steps:
1.
Incorporate a tax free Panama corporation through
our special offer. Our fee for set up is US$1,300 which includes
all government taxes & fees.
2.
Establish a bank account where the proceeds of
your online credit card transactions
can be deposited into.
3.
Establish an online internet merchant account.
Internet Merchant Account Processors:
Merchant
account processing services are provided by a bank or a third party
processor to the merchant. These services include
authorization of credit cards, settlement of funds
through the bankcard associations (MasterCard,
Visa, etc.), depositing of funds into checking accounts, merchant
billing, and account activity reporting.
We
currently deal with several merchant account processors.
The one we recommend for you will depend on your particular business
model. Please note that most merchant providers
do not accept certain types of high risk businesses, such as online
gambling, betting, porn, or sales of addictive substances.
However, we have relationships with several merchant processors,
so if one particular processor does not accept your business
model, then we have others who may (although the set up
and processing costs may be slightly higher for high risk credit
card processing).
Cards & Currencies:
Our
Merchant Processors can process all of the major International credit
and debit cards, including:
- Visa
- MasterCard
- American Express
- Diners Club
- Switch
- Delta
- Eurocard
- JCB
Our
recommended Merchant Processors can settle funds due to merchants'
bank accounts in any of 13 currencies to any bank worldwide
using the SWIFT payment system.
The
following is a list of the currencies that transactions can be settled
in:
-
Australian Dollar
- Canadian Dollar
- Euro
- Hong Kong Dollar
- Irish Punt
- Japanese Yen
- New Zealand Dollar
- Singapore Dollar
- South African Rand
- Great British Pound
- US Dollar
Security
of Service:
The merchant processing service functions under the SSL
(Secure Socket Layer) system which codifies the information and
this security system is one of the most advanced in the market today.
It consists of one secure connection between the merchant and the
processor, which guarantees that the information is never lost or
reproduced to other parties.
For
additional security the Merchant Processor requires
that you obtain a digital commercial security certificate
for your website forms.
Requirements
for Set Up of Merchant Account:
a.
Corporate Bank Account:
This is where the proceeds from the merchant account transactions
will be deposited.
b.
Financial References:
At least 1 financial reference letter (original,
dated within 3 months) is required to open the account.
c.
Professional References:
At least 1 professional reference letter (original,
dated within 3 months) is required to open the account.
d.
Letter Describing Your Business:
A
letter should be provided with the following information:
1.
Summary of your business activities.
2. Description of products and/or services sold online.
3. Jurisdictions your company currently doing business in.
4. Year your company was incorporated.
5. Previous or expected business volume (annual
revenues, sales, etc.).
6. Estimated charge-back percentage.
7. Website URL that will be used for selling your product or
service.
8. Jurisdiction where site is hosted.
9. Photocopy of passport for all company directors,
officers, and legal representatives or signatories
of the account.
Merchant
Account FAQs:
Q:
What is merchant account processing?
A: Merchant account processing services
are provided by a bank or a third party processor to the merchant.
These services include authorization of credit cards,
settlement of funds through the bankcard associations
(MasterCard, Visa, etc.), depositing of funds to checking accounts,
merchant billing, and account activity reporting.
Q:
How do I get a merchant account?
A: The first step is to establish an offshore
corporation. Next, you will need to establish a bank
account for your corporation. Finally, the merchant
account is established through one of our correspondent
merchant processors. The application process is
relatively simple, and just requires that you complete with the
necessary documentation.
Q:
What credit card types can I accept?
A: Through our recommended merchant processors,
you will automatically be set up to accept Visa,
MasterCard, American Express,
Diners Club, Switch, Delta,
Eurocard, and JCB transactions.
However, other merchant account processors may only accept certain
cards.
Q:
How long does the application approval process take?
A: You can start accepting credit cards immediately
after the application is accepted and your merchant account is activated.
The application process takes from 2 to 4 weeks, depending on whether
all of the necessary documentation is complete.
Q:
Can I start accepting credit cards immediately?
A: Yes, once your account is approved and activated,
you may commence processing of credit card transactions immediately.
Q:
How will I get paid for credit card transactions?
A: Funds are automatically transferred to your
business checking account via an electronic wire transfer after
a transaction has been "captured" and settled for payment.
The time frames for payments range with each merchant processor,
some pay within 72 hours, others within 2 weeks. Please note that
certain "hold-backs" (generally a small percentage of
the transactions, around 5 to 10%) may apply, depending on the risk
level of your business. The "hold-backs" are released
after a certain time period, generally within 30 to 180 days (depending
on the risk evaluation performed by the merchant processor).
Q:
Is there paperwork to sign?
A: Yes, applications will need to be couriered
or emailed to your address, you would need to return the signed
applications along with the required documentation to commence final
approval. Once final approval occurs (normally around 2 weeks after
the merchant processor receives the original paperwork) you will
then be able to begin processing.
Q:
Will I need to purchase additional equipment?
A: No. All you need is a web browser and Internet
access to utilize the Virtual Point Of Sale (POS) terminal. Use
this to authorize/settle transactions, view orders, manage recurring
billing and more!
Q:
Will I receive statements?
A: Yes. Our recommended merchant processors offer
you Internet-based reporting, that gives you online access to review
your daily sales, financial history, and other pertinent account
information. In addition you will receive a paper statement at the
end of each month.
Q:
What type of bank account do I need?
A: A business checking or savings account is required.
Your bank will be credited and debited via wire transfer.
Q:
If I am a new start up company without a credit history, will my
company get approved?
A: There are no strict credit requirements. Any
business can be approved. The merchant provider that is used depends
on the business model of the particular business.
Q:
I need a merchant account for processing online gambling transactions
for my online casino. Can I be approved?
A: Yes. We may be able to find a correspondent
merchant processor that allows online gambling.
Q:
I need a merchant account for processing memberships for my pornography
website. Can I be approved?
A: Yes. We may be able to find a correspondent
merchant processor that allows pornography websites.
Q:
I already have a retail merchant account. Why do I need another
one?
A: Financial institutions and the Visa / MasterCard
card Associations have different criteria for evaluating the potential
risk involved in credit card transactions where the card is not
physically presented to the merchant. This type of business is typically
referred to as "card not present" or "MO/TO"
(mail order/telephone order). For this reason, a separate merchant
account is needed.
Q:
What is a payment gateway?
A: A payment gateway is a service that gives merchants
the ability to perform real-time credit card authorizations from
a web site over the Internet. The Gateway is an encrypted channel
that passes the transaction securely from your customer's computer
to the financial institutions to capture the authorization and approval.
Once the transaction is complete, the information is sent back through
the Gateway to complete the order and provide you with verification.
The Gateway offers many administrative features such as: viewing
orders, keeping sales tax records, account maintenance, etc.
Q:
How do I get my gateway set up?
A: Our merchant processors provide you with a complete
turnkey solution. When you apply and are approved for an account,
the gateway is automatically set-up.
For
further information about Merchant Accounts and our Fees, please
contact us.
Order
Now or Contact Us Today!!
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