Best Offshore High Risk Merchant Accounts for Telemarketers
Overview
Due to the amount of time between when a product is sold over the phone and when it’s actually delivered to the customer, telemarketing is commonly considered a high risk business type. The marketplace has extended beyond limits and instead of buying a shop/store and sitting there throughout the day to sell your product and services, all you need is a system with a website to market your product. Nowadays, you can buy things online or through telemarketing at your convenience, without wasting your time and be being present physically in the shop. Now let us understand the term telemarketing.
How does a telemarketing Company apply for a Merchant Account?
Applying for a merchant account, for your telemarketing business is quite a simple process. We do consider the following:
- If your credit score is good, ye, then we are certainly ready to approve.
- In case you wish to change to a new processor, we request you to produce the statements of the last 3-6 months.
- In the event of bad credit rating, there is no need to fret and worry. We ask for additional documents before approval.
- In some cases, we do ask for business banking statements that prove your ability to handle potential chargebacks.
Open a merchant account through a high risk merchant account provider. High risk providers specialize in hard-to-place business types and often have offshore banking relationships that enable them to serve merchants that are considered “high risk.” They may charge higher-than-average rates for their service, but they can also be a valuable resource for businesses that otherwise have very few options.
Merchant account: Merchant account is created under an agreement between the business owner and the issuer bank for the settlement of payment done via cards (card transactions). A merchant account is essential for high-risk merchants and is commonly called high-risk merchant account. In other words, a high-risk merchant account is an account for processing credit card payments, where the issuer bank has classified the merchant or business as high-risked.
High-risk Merchant: High-risk merchant in telemarketing business faces a lot of struggle in getting approval for a merchant account, but if they succeed in getting one, it will enhance the sales, as they will be able to accept credit card payment from their customers present all over the world.
Advantages of merchant account service
- If a merchant gets approval for a high-risk merchant account, a wider range of support service is given to the merchant for a smoother and efficient workflow. One of the main services provided is virtual terminal. It is proven to be very beneficiary for high-risk merchants.
- Once the merchant account is approved, a telemarketer will not only be able to accept the payment through credit card but also, do financial transactions telephonically.
- It will help you bring the customers around the world under one roof as it will allow them to accept all the major currencies and credit cards.
