Presenting the candidates for an offshore merchant account

June 24, 2007

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Offshore merchant accounts are still a distant concept to most people. Many have a preconceived notion that “scrupulous” businesses are the ones who jump in to the offshore merchant account ship. This is an overstatement in a certain sense. Given the basic premise, the idea of an offshore merchant account will be anything but “scrupulous”. Here's an overview of business that normally opt for an offshore merchant account, just to give you a headstart:  ● <a href="http://www.offshoremerchantexperts.com/online_pharmacy_merchant_account.html">online pharmacy</a> ● <a href="http://www.offshoremerchantexperts.com/online_gambling_merchant_account.html">online gambling</a> ● <a href="http://www.offshoremerchantexperts.com/travel_merchant_account.html">travel</a> ● <a href="http://www.offshoremerchantexperts.com/adult_website_credit_card_processing.html">adult website</a> ● <a href="http://www.offshoremerchantexperts.com/telemarketing_merchant_account.html">telemarketing</a> ● <a href="http://www.offshoremerchantexperts.com/dating_merchant_account.html">dating service</a> ● <a href="http://www.offshoremerchantexperts.com/escort_service_merchant_account.html">escort service</a> ● <a href="http://www.offshoremerchantexperts.com/multi_level_marketing_mlm_merchant_account.html">multi-level marketing</a>  <h1>Making a roll call</h1> <h2>Online Pharmacy </h2>  Pharmacies over the internet operate much like you local pharmacy. But purchases are paid using credit cards and the medicines are delivered to the buyer's address. An offshore merchant account is chosen for this type of business due to a number of reaons, one of them is the high probability that it may close sooner than expected because of the scarce market and certain practices. Some online pharmacies sell regulated medicines even without prescriptions, which is risk y alreadt. But online pharmacies are gaining patronage for it's convenience, you don't have to go outside to buy. <h3>Online Gambling</h3> Gambling is now not only confined to casinos, it's claws have reached the dynamic world of internet, as it offers a certain amount of anonymity to the players who stash a huge amount of money, is also considered as a “fly-by night” business by domestic banks. So, they go offshore to set up their merchant accounts. Foreign banks offer more flexibility and cater to this type of merchant accounts. Online gambling sites offer a variety of games such as online poker, baccarat, blackjack, pachinko, roulette, sports bettings, <a href="http://www.offshoremerchantexperts.com/lottery_tickets_merchant_account.html">lottery</a> and bingo. Betting with the use of credit cards are now strictly regulated so players take advantage of checks, wire transfers or gets the services of electronic money services such as Firepay and Neteller.    <h4>Travel</h4> Travel booking agencies also common holders of offshore merchant accounts. They are also seen as high risk because of high probability of closing so soon because of head-to-head competition with airlines who have websites displaying complete flight details and also travel packages and unsettled claims. Also, travel agencies work with travel technology solutions providers (e.g., Travelocity) and travel service distribution companies, (e.g., Worldspan) to coordinate flight schedules, hotel accommodation and car rental services. <h5>Telemarketing</h5> The telemarketing industry has both gained both popularity and criticisms over the years. This type of business earns profit as they are hired by other companies to sell their products. This can be done either at home, or through call centers. Nowadays, telemarketing has evolved to business process outsourcing (BPO) where companies go operate their sales processes outside the US. But growth has its negative sides, people solicited over the phone tend to be hostile to telemarketers who call in to make their sales pitches. Sales has a tendency to decrease. Less sales, less profits. Telemarketing company hanging on a balance. High risk for local banks. Thus, they shift to getting offshore merchant accounts. <h6>Dating service</h6> Dating services offers people the channel to meet someone who they can have a decent conversation with, to say the least. It started with print advertisements but has now evolved to online dating services. In this era of internet, meeting someone has been filtered to the specific preferences of those interested. This type of business tend to go for offshore merchant accounts for local banks are hesitant to accommodate (or in some cases, discreetly hesitant as they give a long period to evaluate a merchant application). <h6>Escort service</h6> By standards, escort service agencies is defined as “companies that operate a booking and dispatch service that temporarily provides customers with a companion at the customer's house or hotel room. Some agencies also provide escorts for longer durations, who may stay with the client or travel along on a holiday or business trip.The escort agency is paid a fee for this service and generally the fee only includes the presence of the companion with the person who engaged the escort“. Public perception links this to prostitution. Due to this notion, local banks have a great deal of second thoughts in accepting merchant account applications. What is needed to remember is that those employed can refuse to do any act outside the escort dating rules. <h6>Multi-level Marketing companies</h6>  Citing from Wikipedia, multi-level marketing is defined as “ recruiting salespeople (also called Distributors, Independent Business Owners, IBOs, Franchise Owners, Sales Consultants, Beauty Consultants, Consultants, etc.) to sell a product and offer additional sales commissions based on the sales of people recruited into their downline, an organization of people that includes direct recruits, recruits' recruits, etc.” . This kind of business is misunderstood as related to pyramid schemes or networking. This impression makes this as a high risk venture so local banks are again doubtful to entertain and MLMs run offshore to open merchant accounts. <h6>Taking a bow </h6>  Offshore merchant accounts are often associated with high-risk businesses. But you should think outside the box for this . Even those considered “low-risk” businesses such as restaurants or hotels or any normal business setting can be set up merchant accounts. They will be equally accommodating as local banks. You should always carefully study and feel the vibe of whatever your entering into.  <a href="http://www.onlywire.com/submit?u=http://www/offshoremerchantexperts.com&t=Presenting%20the%20candidates%20for%20an%20offshore%20merchant%20account&tags=offshore%20merchant%20account%20travel%20merchant%20account%20gambling%20adult%20multilevel%20marketing" target="_blank" title="Add this Article to Onlywire"><img src="http://www.onlywire.com/i/onlywire.ico" border="0" alt="" align="absmiddle" /> Add to Onlywire</a>

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Presenting the candidates for an offshore merchant account

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