What is an international merchant account?

4 min readMay 3, 2023

Introduction

An international merchant account is a payment processing account that allows you to accept credit cards or electronic checks from customers outside of your home country. While the term “international” may suggest a connection between two countries, this definition is broader than that and can include cross-border payments between two businesses or individuals in different states or provinces within the same country, as well as between two different states or provinces in the same country. The range of international merchant account services can include prepaid card programs, POS systems, mobile payments, and international shipping solutions. International merchant accounts may be referred to under several names including offshore processing, international payment processing, offshore processing, and multi-currency processing. Most international merchant accounts require an application process with various forms and documents that need to be filled out before being approved for an account

An international merchant account is a payment processing account that allows you to accept credit cards or electronic checks from customers outside of your home country.

A payment processing account is a bank account that lets you receive money from customers who pay with their credit card, debit card, or checkbook. This can be either online or in person at your business location — the only difference between these two scenarios is the type of device used to swipe the card and enter information into it (phone vs. physical terminal).

An international merchant account works just like any other type of merchant account except for one thing: it’s not limited geographically by where you live or do business as long as there are no legal restrictions preventing such activity from occurring in another country

While the term “international” may suggest a connection between two countries, this definition is broader than that and can include cross-border payments between two businesses or individuals in different states or provinces within the same country, as well as between two different states or provinces in the same country.

The reason for this broadness is that each country’s banking system has its own rules and regulations regarding how transactions are processed and settled. Cross-border payments are often subject to additional scrutiny from regulators because they involve money from multiple jurisdictions being deposited into a single account held by a financial institution outside of those jurisdictions’ borders.

The range of international merchant account services can include prepaid card programs, POS systems, mobile payments and international shipping solutions.

Prepaid cards allow you to accept credit cards without the need for a physical point-of-sale (POS) terminal or card reader. The most common type of prepaid card is a gift card but there are other types as well including payroll cards and debit cards. POS systems allow merchants to accept payments in person using their smartphones or tablets instead of having to go through traditional methods like cash registers at checkout counters or ATMs at banks. Mobile payments offer another way for customers to pay with their smartphones while they’re shopping in stores or online at websites without needing any additional hardware beyond what they already own — just download an app onto your phone! International shipping solutions help businesses ship products all over the world so that no matter where someone lives, they’ll still have access those items from anywhere else on earth (or even outer space).

International merchant accounts may be referred to under several names including offshore processing, international payment processing, offshore processing and multi-currency processing.

These names are used to describe the same thing. For example: “I have an international merchant account with my bank” or “I use an offshore processor for my international payments.”

Most international merchant accounts require an application process with various forms and documents that need to be filled out before being approved for an account.

Most international merchant accounts require an application process with various forms and documents that need to be filled out before being approved for an account. This can take several weeks, but it’s not uncommon for it to take months or even years.

The exact requirements for your particular international merchant account will vary depending on the company you choose, so make sure you’re familiar with their policies before filing your application.

There are many options for accepting credit cards internationally

There are many options for accepting credit cards internationally. You can choose to use a company that offers you a wide variety of services, or you can go with one that specializes in helping businesses like yours succeed.

Some of the benefits of using an international merchant account include:

Reduced fees and rates on transactions
No need to pay any upfront fees or deposits
Access to multiple payment gateways at once (e.g., Stripe and PayPal)

Conclusion

There are many options for accepting credit cards internationally. If you’re looking to expand your business or just want to offer international customers the option of paying with plastic, an international merchant account could be the solution you need.

Read more about Offshore Merchant Account