Panama
Merchant Bank Accounts
Offshore
merchant accounts allow a business to increase their business revenues
significantly since the offshore merchant account can offer an internet
merchant account multi currency options as well as unlimited markets
to accept credit card processing.
Internet
Merchant Accounts are designed to facilitate credit card transactions
over the internet. If you operate an online business and do e-commerce,
we have the perfect solutions for you to obtain privacy, and avoid
all of the burdensome rules and regulations surrounding online e-commerce
in your domestic country.
Merchant
Account Processors:
Internet Merchant account processing services are provided by a
bank or a third party processor to the merchant. These services
include authorization of credit cards, settlement of funds through
the bankcard associations ( MasterCard, Visa, etc.), depositing
of funds into checking accounts, merchant billing, and account activity
reporting.
The one we recommend
for you will depend on your particular business model. That most
merchant providers do not accept certain types of high risk businesses,
such as online gambling, betting, porn, or sales of addictive substances.
However, we have relationships with several merchant processors,
so if one particular processor does not accept your business model,
then we have others who may, although the set up and processing
costs may be slightly higher for high risk credit card processing.
The
merchant processing service functions under the SSL ( Secure Socket
Layer ) system which codifies the information and this security
system is one of the most advanced in the market today. It consists
of one secure connection between the merchant and the processor,
which guarantees that the information is never lost or reproduced
to other parties.
For additional
security the Merchant Processor requires that you obtain a digital
commercial security certificate for your website forms.
Requirements
for Set Up of Merchant Account:
Professional
References:
At least 1 professional reference letter (original, dated within
3 months) is required to open the account.
Financial
References:
At least 1 financial reference letter (original, dated within 3
months) is required to open the account.
Corporate
Bank Account:
This is where the proceeds from the merchant account transactions
will be deposited.
Letter
Describing Your Business:
A letter should
be provided with the following information:
Description of products and/or services sold online.
Photocopy of passport for all company directors,
officers, and legal representatives or signatories of
the account.
Summary of your business activities.
Previous or expected business volume (annual
revenues, sales, etc.).
Jurisdiction where site is hosted.
Jurisdictions your company currently doing business in.
Year your company was incorporated.
Estimated charge-back percentage.
Website URL that will be used for selling your product or
service.
Credit
Card Processing
Merchant and credit card processing service. Expand your business
by accepting credit cards. Fast approval and setup.
Contact us: info@panamalegalconsultants.com
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