"Offshore" whenever this word comes up, people start speculating about something fishy, but it's not necessary that offshore businesses are always immoral. Sometimes, governments and regulatory bodies force some businesses to operate from offshore locations. Usually, businesses that operate are considered high-risk. They include online gaming, gambling, casinos, poker, fantasy games, real-money games, betting, adult entertainment, escort services, tobacco, CBD, e-cigarette, forex trading, IPTV, etc. These businesses need special payment solutions, such as offshore payment gateway, offshore merchant accounts or industry-specific merchant accounts and payment gateways, to succeed in the international market.
An offshore payment gateway and merchant account are the solutions for businesses that are registered in a location outside its operational territory. They allow businesses to accept payment securely. They provide businesses with a safe haven for their high-risk business payments and encourage them to expand business globally.
An offshore payment gateway uses SSL encryption, tokenization, two-tier authentication, AI-based fraud and chargeback protection to safeguard merchants from cyber attacks. It allows businesses to accept payment in multiple currencies and payment methods, such as credit cards, bank transfers, wire transfers, e-wallets, cryptocurrencies, and other local payment methods.
Moreover, while selecting an offshore payment gateway, merchants must consider some essential points such as:
• Look for a merchant service provider (MSP) that has extensive experience in your particular industry and can provide you with a customized solution according to your needs.
• Consider a full-stack offshore payment processing provider that can provide every needed payment solution within a single roof.
• Prefer the MSP that has a global reach and accepts multiple currencies and payment methods.
• Check its security and risk management tools and international compliances.
• Check its integration process, payment settlement timings, scalability, customer support, and contract terms carefully.
• Read reviews and ask for recommendations.
In addition, we recommend you choose WebPays as your offshore payment partner and thrive your business in international waters. WebPays is a leading high-risk offshore payment gateway provider in the world and is equipped with all the top-notch features. For offshore merchant instant approval, apply now.