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jem777's picture
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Internet merchant accounts are accounts offered by a bank to enable the processing of credit cards online, focusing on online payment processing of credit cards, the fee structure is different from merchant accounts.

The fee, due to higher risks involved in online payment and transaction, are high compared to direct credit card or debit card dealings. Internet merchant accounts can be obtained either directly from the bank or through an online payment processing services company.

It works in the following way:

* The customer provides the credit card information to the online store during a purchase
* The payment gateway checks the data for security reasons and forwards the information to the internet merchant accounts
* The transaction is again checked by the customer's issuing bank
* The details is again encrypted and forwarded to the gateway
* A report is sent for the merchant to choose on completing the order.


For any internet based business, especially those that require international accounts and where credit card payments needs to be accepted it is important to choose good and reliable internet merchant accounts with different components of internet credit card processing. Credit card payments can be accepted through internet in three processes:

Payment gateway: An encrypted message is passed to and from an internet merchant account provider regarding the customer's requirement. Payment gateway helps in getting information regarding customer billing and also check on the credibility of the credit card payment.

Internet Merchant Accounts: link removed - don't spam the forum

The billing information is forwarded from the payment gateway to account providers, not offered by many local banks as the complete financial dealing is done over the internet which is a risky preposition and can face credit card frauds. Reliable internet merchant accounts have special software to prevent fraud.

WORKING VIA THE INTERNET: The website needs to be compatible to the service providers.

Cost involved in having internet merchant accounts

* Application Fees which involves cost for processing the application, though most providers don't take this fee
* Monthly on going fixed Fee or statement fee charged by most providers as fees towards transactions
* Discount Rate ranging from 2-5 percent which is the commission for each sale that is earned by the provider.
* Fixed Transaction Fee for each transaction or each sale
* Termination Fees if the account is closed prior to the committed period
* Miscellaneous Fees

A business needs a merchant account which will allow it to accept payment through credit cards. An offshore merchant account enables an easy way of doing business, not only locally, but also other countries with better revenues, offshore credit card processing, tax benefits and a viable solution.

Similar to having a high risk merchant account for businesses with high risk, high risk offshore merchant account is offered to businesses with high volume sales, charge back refunds, fraud and poor credit history. Businesses like adult entertainment, online pharmacies, and online casinos come under the umbrella of high risk offshore merchant account. When the financial risk accepted by a bank or merchant account provider is high then the offshore merchant account needs to become a high risk offshore merchant account.

High risk accounts are offered for the following:

* Companies falling under the high risk category
* Increase in turnover and sales
* Tax benefits
* Acceptance of payments and credit card transactions through the internet

They offer tax reduction, simple to handle and operate across nations wherever the business have been set up, helps in asset protection apart from many other benefits.

To open it: identification proof, source and origin of funds and references from the bank is needed along with fees which might vary depending on the high risk merchant account provider. Though perceived as an account for the unlawful and illegal business, the high risk offshore merchant account is actually for everybody doing business on the high risk zone wanting to carry out their banking business.

Most providers offer the following benefits:

* Viable offshore processing costs
* Receiving all credit cards, debit cards
* Detail reports on the transactions
* Multi-currency processing
* Recurring billing
* Complete customer support
* High-end fraud prevention software

Deuce's picture
Somewhere, USA
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In case someone does stumble

In case someone does stumble upon this thread. I have been using Authorize.net for years, they have a great API, and pretty good percentages so you're not losing too much out of each transaction.

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