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International Merchant Account Providers

Our Top Picks for The Best International Payment Processing Companies

  1. Easy Pay Direct
  2. Bank Associates Merchant Services - BAMS
  3. Dharma Merchant Services
  4. PaymentCloud
  5. Helcim

1. Easy Pay Direct

High-risk merchant accounts and payment processing services are available to international businesses doing business online in almost any country. EPD works well with high risk merchant processors. No matter the product you are selling internationally, EPD will have you set up with a merchant processor that's perfect for your business. You will be given the ability to accept credit cards from anywhere, whether it's online, in store, or through a mobile device.

2. Bank Associates Merchant Services - BAMS

Businesses all over the world can use this payment gateway service. It works with a wide range of shopping carts. BAMS is trusted by thousands of merchant processors to deliver them the services they need. By working with BAMS you will save money on each transaction you process due to their low interchange processing rate. You will receive all of the latest and best tools in the business to not only process transactions, but to protect yourself against transaction disputes.

3. Dharma Merchant Services

This company provides competitive rates to businesses in the e-commerce industry. They also perform a cost analysis to determine the savings that businesses can realize by switching to their payment processing services. Dharma does not require a contract, and there are no hidden fees. There is priority 24 hour funding and 24 hour customer service. With their interchange plus pricing, every transaction or payment is 100% transparent.

4. PaymentCloud

PaymentCloud works hard to tailor its services to your direct business needs. They provide some of the best services for small businesses. PaymentCloud will also work to protect you against any fraud or chargebacks against your business. They work with low, medium, and high risk businesses. By choosing PaymentCloud you are bound to find a merchant processor that is right for you.

5. Helcim

Helcim gives you the ability to process payments around the world with their built-in international payment options. Regardless of the customer's credit card currency, you will receive your processed transaction in your business location's current currency. Your customer's bank will handle the conversion of currency at the time of the transaction. By choosing Helcim you are guaranteed great rates with 100% transparent pricing. For every transaction you process, the more money you make for your business.

You'll need the help of an international merchant services provider if you want to expand your business internationally. As the e-commerce industry has grown exponentially as a result of the internet, businesses like yours require every advantage possible. Because your business is conducted online, it carries a high level of risk, which is why you should work with merchant account providers who specialize in international transactions.

We've compiled a list of the best international merchant account providers and payment processing firms with whom we can collaborate.

What is an International Merchant Account?

As a business owner, you must open a merchant account in order to accept credit card payments and other forms of payment. You can pay with a debit card or a mobile wallet, but first you must open a merchant account. Many merchant account providers also provide payment processing services, but some do so in collaboration with other businesses, such as when they form a partnership. Both are intertwined.

Having an international merchant account allows businesses to accept payments from customers in a variety of countries. When customers pay for their orders, the merchant account acts similarly to a bank account, storing the funds. This is the responsibility of the payment processor. On the backend, they handle everything, such as obtaining payment authorizations and transferring funds between accounts.

A credit card is used by a customer to make a purchase on your website. The funds are transferred to your account when the payment processing company deposits funds in your international merchant account. Before funds are deposited into your business bank account, any transaction fees or other charges are deducted.

Types of International Credit Card Processing Options

There are a few options for compensating businesses like yours that are located outside of your country. Connecting the shopping cart to a payment gateway is the most common method. There are also other alternatives.

Payment Gateway Integration

A payment gateway is used when someone makes a purchase on a website that includes an online shopping cart. All payment processing will take place automatically if you choose a payment gateway that works well with your website's shopping cart. Your payment will be approved by your processor, and the funds will be transferred to your international account.

As payment gateways can be customized to match and promote your brand, you won't lose customers who abandon the checkout process.

Virtual Terminals

Virtual terminals are not as common as they once were, but if you run a business like this, you may need one. This system, like a point-of-sale (POS) system, is accessed through a website that can accept payments. This may not be necessary if your company operates entirely online, but it could be.

To process payments for customers who do not want to use a shopping cart, a virtual terminal is required. If a customer wants to buy something, they can contact you or place an order through the mail. We're talking about MOTO's payment processing. You will enter their payment information and then use your virtual terminal to process their orders. 

Other Considerations

Many businesses have an online presence, but they also have physical locations. If this describes your business model, you might want to look into other payment processing options.

You could use a virtual terminal for this, but you could also use a credit card terminal, a mobile card reader, or a combination of the three. A POS system provides numerous advantages, including the ability to manage inventory, process payroll, and generate sales reports.

The majority of businesses with physical locations use point-of-sale systems that are incredibly simple to use. Credit card terminals and mobile card readers can both be used to sell your goods or services at trade shows or other events.

What’s the Difference Between Working with an International Payment Processor and a Payment Aggregator?

Business owners may prefer to work with a payment service provider rather than a merchant service provider. This is due to a number of compelling factors. Payment service providers (PSPs) such as PayPal, Stripe, and Square make obtaining a merchant account for businesses that require immediate payment acceptance simple.

This is useful for businesses that need to accept payments right away. Because the majority of people have heard of these companies, they have a lot of sway over the people who buy their products.

Furthermore, Payment Aggregators charge a flat rate, which is preferred by many businesses because it simplifies accounting. If you want to work with such a firm, you should be aware of its flaws. PSPs include, among other things, the following:

  • You will not be able to open your own merchant account because they are required for all businesses. Multiple chargebacks could result in the freezing of your funds, which you could lose.
  • Certain product regulations change frequently, and the company reserves the right to close your account at any time without notice.
  • Flat rate pricing can come with a slew of fees, and you may end up paying more for payment processing than is necessary.

Things to Look for in an International Merchant Services Provider

When dealing with an international merchant account provider, things are a little different than when dealing with a domestic one. Here are a few things to think about before making a decision.

Support for Foreign Taxes

The United States is one of only a few countries without a value-added tax (VAT). They can be found in the vast majority of other countries. VAT is collected at every stage of the manufacturing process, except when the goods are sold to customers. This tax will be handled for you by a reputable payment processor.

Increased Security and Fraud Prevention

Cyberattacks are on the rise, and you don't want your customers' personal financial information to fall into the hands of the wrong people. Partner with a global MSP that provides superior security and fraud prevention services to avoid this. Check with any company with whom you are thinking about doing business to see if they are PCI-compliant.

To obtain this service, you may be required to pay a fee. The company will assist you in protecting your customers' private information from cyberattacks.

Multiple Currency Capabilities

Countries all over the world exchange US dollars, but accepting multiple currencies puts you ahead of the competition. The more currencies you can accept, the better, which is why a payment gateway that supports multiple currencies is advantageous. Customers can view and purchase currencies from your website's shopping cart.

Support for Multiple Payment Types

Accepting a variety of payment methods will benefit you as a business that sells to customers all over the world. While Visa and Mastercard are important, your customers may want to use foreign cards, such as Alipay, and you should be aware of them.

Furthermore, more people are using mobile wallets to make purchases, and some experts predict that they will soon outnumber credit cards in popularity. The bottom line is that having as many payment options as possible is a good thing.

How to Choose the Best International Payment Processor to Meet Your Needs

If you're looking for a business, it's critical that you find one that meets your requirements. When making a decision, individuals should pay close attention to the items on this list.

Pricing Structure and Transaction Fees

Working with a global MSP necessitates payment for services. The pricing structure is critical, and you may come across some terms that you are unfamiliar with but must comprehend. You must pay a transaction fee for each payment you make. The fee will almost certainly fall into one of the categories listed below.

  • Tiered pricing - This is known as "tiered pricing," and it divides all transactions into three groups: qualified, intermediate qualified, and unqualified. Your sales will be divided into three categories, with non-qualified sales at the top.
  • Flat rate pricing - We previously discussed how payment service providers use flat rate pricing, but many managed service providers do as well. This means that the transaction fee is the same regardless of the size of the transaction. If you want to charge a flat rate, you must pay a premium over other pricing models.
  • Interchange-plus pricing - In this model, each time you use your card, you are charged an additional fee. This is the most obvious of all of them. Credit card companies set the rate at which your card can be used to purchase items each year. Each transaction is subject to a predetermined rate. The plus sign in the equation refers to the payment processor's service fee.

Customer Service and Support

You want to make sure that the company you choose can help you. As a company that sells to customers all over the world, you may require customer service to be available 24 hours a day, seven days a week. It may not work out as well for you if they only work Monday through Friday from 9 a.m. to 5 p.m. International merchant account providers should be able to help you via phone, email, or live chat on their websites.

Contract Terms

You will be required to sign a contract regardless of which company you choose to work with. That is why you should not sign this without first thinking about it! Before agreeing to the terms, read them carefully and ask questions to ensure you understand them. List: Some of the questions you should ask are as follows.

  • What monthly and annual fees would you be willing to pay?
  • Is there a fee for leaving early? If so, how much?
  • Is there anything else you'd like to know about your account?

Avoid entering into a contract with the company unless you absolutely need the hardware. If you want to save money, you should buy the POS system rather than rent it.

Seamless Payment Gateway Integration

Employees of the most reputable international merchant service providers should be able to assist you right away. Customers should be able to pay quickly and easily if a payment gateway is easy to use. By adding a few lines of code, your tech team may be able to collaborate with you.

Additional Pro Tips

Ask About Multiple International Merchant Accounts

If you run a high-risk business, having only one merchant account may jeopardize your operations. If you receive too many chargeback requests from customers, you risk losing your merchant account or having your funds frozen. After that, an investigation could be launched.

Furthermore, many MSPs provide businesses with multiple merchant accounts, with funds divided among them. This is known as load balancing, and it adds an extra layer of protection in the event of an unusually high number of chargebacks.

Learn About Additional Functionality

Your international merchant account provider may also have software that can perform additional functions. It could help you with payroll and inventory management. Furthermore, your company may be eligible for additional services. Many MSPs provide working capital loans and other services to help you grow your business.

Consider Exchange Rates and Cross Border Fees

Inquire about the exchange rate policy of any merchant services company you are thinking about using. They determine exchange rates and charges in one of two ways: Fees for border crossing are associated with several of the most popular payment methods, including Visa and Mastercard. However, with the right payment processing company, you may be able to completely eliminate them.

Our Top Recommendations for International Merchant Account Providers

  1. Easy Pay Direct
  2. Bank Associates Merchant Services - BAMS
  3. Dharma Merchant Services
  4. PaymentCloud
  5. Helcim

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