Are you selling offshore credit card processing services with little to no luck? Are you having trouble expanding your clientele and finding merchants who want to open up an offshore merchant account with you? Well, don’t you worry, there is a way to rectify this problem. Offshore credit card processing is a new service that merchants are still working to understand and trust. We’ll tell you what you should do to sell your offshore credit card processing services effectively.
Let’s first take a look at what offshore credit card processing should look like before moving on to take a look at what benefits it should provide your clients with. An understanding of what your clients want will help you shape your policy in a way that will help attract more merchants. Let’s get started.
WHAT IS OFFSHORE CREDIT CARD PROCESSING?
According to E-Merchant Broker, offshore credit card processing is a service that comes with an offshore merchant account and makes it possible for businesses with online stores to accept payments made via credit cards and debit cards from major credit card providers like Mastercard and Visa from various countries. In essence, the purpose of an offshore credit card processing account or offshore merchant account is to allow merchants to carry out transactions with customers from all across the world and in various currencies without high charges on currency conversion and exchange.
If this is the service you are offering or selling, you need to understand how it benefits merchants and ensure that you provide them while benefiting yourself.
HERE ARE THE BENEFITS OF OFFSHORE CREDIT CARD PROCESSING
Here is a list of benefits merchants expect from offshore credit card processing platforms. To sell your offshore credit card processing services, you need to understand these benefits so you can understand your clientele.
- ACCESS TO THE GLOBAL MARKET AND INCREASED SALES
With an offshore credit card processing platform comes access to the global market and the possibility of increased sales and expanding the client base. A merchant should be able to carry out transactions in multiple countries and currencies, which is a service you should be offering.
- INCREASED CAPACITY TO CARRY OUT SALES
There is generally a limit on how much money a merchant can accept through credit and debit cards every day and every month. According to Asia Premier, an offshore merchant account sets this limit higher than other processing accounts, increasing a merchant’s capacity to accept money and make sales. As an offshore credit card processing service, you’ll attract more clients if you keep this limit as high as possible.
- TAX BENEFITS AND LOW FEES FOR CURRENCY EXCHANGE
International money transfers are often characterized by high fees and high tax payments, which reduces merchants’ profits on their sales. As a service provider, you need to make sure that your clients don’t have to pay any high fees and can carry out transactions while retaining as much of the money they make through sales as possible.
These are only some of the many benefits of offshore credit card processing. To attract as many clients as possible, make sure you provide merchants with these benefits.
Now that we have a general idea about offshore credit card processing let’s look at 5 tips to help you sell this service as effectively as possible.
5 TIPS TO SELL OFFSHORE CREDIT CARD PROCESSING SERVICES
Here are 5 tips that you need to integrate into your offshore credit card processing policy and marketing policy to ensure a broad customer base:
- BUILD TRUST AND EXPLAIN YOUR POLICIES TO MERCHANTS
Offshore credit card processing accounts are often required by merchants who engage in a high-risk business and need a reliable payment processing platform that will keep track of their transactions and protect them against high fees. You need to explain your policies to merchants clearly and not hide anything that will impact their relationship with you. They should trust you, and they can only establish that trust through transparency.
- HIRE A GOOD MARKETING TEAM
Many merchants who could benefit significantly from offshore credit card processing remain unaware of its existence and benefits. You need to hire a good marketing team to implement the necessary marketing strategies to put your business out there and make it visible to potential clients.
- OFFER YOUR CLIENTS MAXIMUM BENEFITS
What will attract customers the most is an understanding of their needs. Make sure you offer as many facilities and benefits as possible to your clients; this will help build trust and make them believe that you are dedicated to fulfilling their needs and their business needs.
- MAKE THE APPLICATION PROCESSES AS EASY AS POSSIBLE
The scariest part for a potential client is filling out a massive application form with many sections and documentation requirements. Keep the application form as short as possible and the process as easy and accessible as you possibly can. That will help you sell your business because clients won’t procrastinate or worry about it too much.
- KEEP IN TOUCH AND BE PERSISTENT
Keep in touch with potential clients and be persistent by urging them to see the benefits and sign up for your services. Clients can back off if they don’t see an effort from your end, which is why you need to show them that you are interested in having them become a part of your family. You can do this through calls, texts, or emails; make sure you don’t do it too often, or they might get annoyed! Maintain a good balance.
As an offshore credit card processing service provider, you need to understand what it is all about and how much it can mean to clients who rely on you to increase their profit margins and expand their business. It might be hard to attract clients, but it is not an impossible task; all you need to do is spread awareness about your service and create a meaningful relationship with potential clients.