Do I need to go offshore to be able to find a payment processor

Moh1 · Feb 9, 2009

Hi,

Living in an country outsite US and Europe, I just need to know if I have to incorporate Offshore somewhere for instant in Cyrus to be able to get good credit card processing for my website ?

I considered it due to tax reasons, but some processors just declined me because of my home country.

Safa · Feb 10, 2009

No you don't, you can even have a merchant account in your local bank!

However going offshore with your business will give you a lot of benefits, as I realized, just went through the process and it looks to be great.

clemens · Feb 11, 2009

Moh1, you don't but you will have more options if you are going offshore within a country which still belongs to the EU like Cyprus do.

As I understand of your post than you are very limited in choosing any payment processor right now.

clowdi · Feb 12, 2009

Only for the third country's it would be of benefit to go offshore, since they are almost unable to apply with any US or European payment processor.

gwenpinay · Feb 17, 2009

You don't have to. However, it does seem like your options in your home country are rather limited. If you are aiming for a global market, being able to offer multiple payment options is a must. And for that reason, an EU or US location might make sense.