Which type of company?

[newtoUK]

Hello,


we are a legal company in Turkey. We would like to start an offshore company to get virtualPos for our high-risk (adult dating) websites. What type of offshore company would be best suitable for us?


Please recommend us something because I have been searching this since 1 month and no valuable info is found.. :thumbsDown:


Thank you.


PS: We plan to start our offshore in UK.

 

[JohnLocke]

Since your company is in Turkey why not apply for a merchant account with one of the many European processors around? PSbill, GSpay, failsafe payment etc. are such processors?


I'm not aware of any MAP who can offer their services for merchants incorporated offshore ie Panama, Belize, Seychelles etc.!

 

[newtoUK]

Hi, banks in Turkey do not service high-risk business like adult-dating sites. Because of chargeback rates (2-5%). Acceptable chargeback limit is under %1 with Turkish banks and it's really impossible for dating sites to keep them under %1 here.. In past, we tried to get vPos with our Turkish company but they needed lots of documents to make us tired and unuseful and I realized that an offshore and bank account was simpiler than this.


I heard that opening an account with offshore company is easy and OK. But is it same with getting a vPos service, Merchant account is also easy with offshore company?


Thank you.

 

[JohnLocke]

You will want to look into some of the mentioned companies Im sure they are able to help.. anyway... in regards to your chargeback ration what sort of fraud scrubbing do you use, if any?

 

[newtoUK]

Hello, we forward clients to 3D vPos with their first transaction and then when they got certified by our system, they go to non-3D pos when their renewal subscription time arrives if they want to renew.


But it's really unuseful because only one phone conversation with bank is enough for people to get their money back even they do this transaction with their card PIN, here.


So, our main aim is, getting an vPos service, bank account and Merchant ID from EU banks for our high-risk business.


What type of company do you recommend us?


Thank you!

 

[Safa]

Using 3Dsecure will help you same for using Max Mind for fraud scrubbing!

 

[newtoUK]

Thank you Safa!


But it's really easy here in Turkey to do a chargeback.


You just phone bank and say it's not my transaction and they put money back to your card.


My country is still latent with 3D and Credit Cards so that getting a vPos service from any bank is hard as atomic fission here.

 

[newtoUK]

So a LTD would work fine for me for vPos service, Merchant Account, bank accounts at EU?


What do you think?

 

[JohnLocke]

But it's really easy here in Turkey to do a chargeback.
You just phone bank and say it's not my transaction and they put money back to your card.

It's regulated by the Visa Europe and Mastercard regulations and not the local banks, so if you make use of 3D secure you will limit the number of chargebacks thats the hole idea of 3DSecure. Further proper fraud scrubbing will help you as well, if you call each customer to verify if they actually made a transaction it will reduce the number of fraud as well, you can outsource this part.

 

[MiltonStone]

This entire thread including OP's question makes no sense! :attention: