by Jeremy Netlon
International merchant accounts are good on several reasons:
- Multicurrency. International merchant accounts enables a website to sell online in over 100 different currencies. Customers are purchasing in their own currency so there no additional currency exchange fees.
- Accepted credit cards. International merchant accounts are closely tied in with all the major credit card companies so can accept a different types of credit cards and e-checks. No money transfer looses. There no any additional currency exchange fees. International merchant account holders can choose currency they wish transactions to be settled in, that in which currency money will be transfered into their account.
- International fraud protection. Many international merchant account come with international fraud protection. There can be minimized risk of fraud and losses issued on charge backs and disputed transactions by using sophisticated fraud detection tools.
- No volume restrictions. International merchant accounts typically don't have volume or ticket size restrictions.
Disadvantages of International merchant accounts:
- Higher fees. The fees inposed by an international merchant account will be significantly higher than a single currency merchant account.
- Higher discount rates. Discount rates for an international merchant accounts could be as high as to 10% or more.
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