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International Merchant Accounts FAQ
- What is an international merchant account?
- Is multi-currency processing available?
- Where are the acquiring banks located?
- Is incorporation in other country required?
- What is the settlement time?
- What are application fees for international merchant accounts?
- What are the requirements for applying for an international merchant account?
- How is the international merchant account integrated with a website?
- Do you process for digital content, virtual goods and download products?
- Do you process for products that are shipped?
- Are reserves required?
- Is online reporting available?
- How quickly are charges authorized?
- Can a merchant considered high risk establish an international merchant account?
- What is an international merchant account?International merchant accounts enable merchants to accept orders from customers world-wide. International merchant accounts are used to save money on payment processing, mitigate risk, or to benefit from business advantages in particular parts of the world.
- Is multi-currency processing available?
Yes. One advantage of international accounts is that mutli-currency processing is a standard feature. - Where are the acquiring banks located? International merchant accounts can be established in countries throughout the world. Businesses decide which country based on the strategic direction and plans for their company.
- Is incorporation in other country required?Incorporation in the region in which the acquiring bank is located is required before payment processing begins. You can wait until accounts are approved before incorporating. We are happy to refer you to experienced firms that provide excellent, fast, low-cost incorporation services.
- What is the settlement time?Settlement varies by bank and size of merchant accounts. High volume merchants can receive daily settlement. Smaller accounts generally settle weekly.
- What are application fees for international merchant accounts?
There are no application fees for international merchant accounts. - What are the requirements for applying for an international merchant account?Businesses must provide processing history showing a minimum of $50,000 per month. No start-up companies are accepted.
- How is the international merchant account integrated with a website? Integration is done using an application program interface (API). Integration can be completed and tested within a few hours. Technical assistance is provided at no cost.
- Do you process for digital content, virtual goods and download products? Yes. One of our specialties is processing for digital merchants such as social networks, online games, MMOG, music, video, and online entertainment companies.
- Do you process for products that are shipped?
Yes. - Are reserves required?
Standard reserves are between 5-10%. Merchants can renegotiate reserves after establishing processing history with the bank. - Is online reporting available?
Yes. A multitude of payment processing statistics and reports are easily accessed via a secure merchant account login. - How quickly are charges authorized?
Authorizations for charges are completed in 2-3 seconds. - Can a merchant considered high risk establish an international merchant account?
Yes. High risk merchants are welcome to apply for accounts.
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