Credit and Debit Card Processing with International Options
There are several common scenarios in which a business can benefit from accepting international payments or multiple currencies. Most frequently, a domestic e-commerce or MOTO merchant might develop an unexpectedly large customer base in a foreign country. In another case, a large retailer or distributor may need to establish a payment channel with a foreign manufacturer. In a less common circumstance, a high risk business with an offshore merchant account may need to be able to accept, convert, and pay out locally in multiple currencies. All of these business types have equally valid needs when it comes to international payment processing, but the challenges they face can be very different. This makes it difficult to not only find a credit card processor that can handle multiple currencies, but to also ensure that the processor chosen is ethically operated and a good fit for the merchant’s business type.
To help you find the right processor for your business, we’ve put together the following list of the best merchant accounts for international payments. The providers on this list can enable your business to accept multiple currencies, target overseas markets, and make payments in foreign currencies when necessary. Some of these companies specialize in international e-commerce processing for domestic businesses, while others are better for multinational or offshore organizations. For each company listed, we have specified the types of international processing that each provider is capable of. However, it is always best to get in touch with a few companies on this list to compare pricing and confirm the services they offer. Merchants can also expect to pay additional markups for currency conversion in most cases.
How to Select the Best Multi-Currency Credit Card Processor
Selecting the best credit card processor for an International Payments business in the USA involves considering several factors. Here are some specific things to keep in mind.
International Coverage
The credit card processor must have a global reach to ensure that customers in different countries can transact with your business without any issues.
Multi-Currency Support
The processor should support multiple currencies to enable seamless transactions between different countries. This is particularly important for an International Payments business where customers may want to pay in their local currency.
Security and Fraud Protection
Look for a processor that offers advanced security features such as tokenization, encryption, and fraud detection to protect your business and customers’ sensitive information.
Compliance
International Payments businesses in the USA must comply with various regulations and laws, such as the Anti-Money Laundering (AML) regulations and the Office of Foreign Assets Control (OFAC) sanctions programs. Ensure that the processor you choose is compliant with these regulations to avoid legal issues.
Credit Card Processing Transaction Fees
Consider the transaction fees charged by the processor, including foreign transaction fees and currency conversion fees, to ensure that they are reasonable and affordable for your business.
Integration
Choose a processor that can seamlessly integrate with your existing payment systems and software to avoid disruptions to your business operations.
Superior Customer Support
Look for a processor that offers excellent customer support, especially for international transactions. The processor should have support teams that are available 24/7 and can handle customer queries and issues promptly.
Reputation
Research the reputation of the credit card processor in the market, including its track record in handling international transactions, to ensure that you are partnering with a trustworthy and reliable company. You can consider our review on this website, by simply searching for the processor in the search bar at the top of this page.
By considering these factors, you can select the best credit card processor for your International Payments business in the USA.
Top Picks for Merchant Services for Multi-Currency Transactions
PaymentCloud
Based in Woodland Hills, California, PaymentCloud is a merchant account provider that specializes in serving high risk business types. The company’s products and services include point-of-sale solutions, mobile phone swipers, an online payment gateway and virtual terminal, EMV-compatible terminals, and merchant cash advances. PaymentCloud is a good option for merchants who require offshore merchant accounts.
PaymentCloud provides a dedicated account rep to all new merchants for the life of the account. The company has not received any negative complaints on consumer forums, and it customizes its pricing according to each merchant’s business type and processing history. The BBB does not maintain a profile for PaymentCloud at this time, but CPO gives the company an “A.”
For more information, visit the PaymentCloud website or call (888) 506-7859.
For more information, see PaymentCloud or call (888) 506-7859
Additional Options
Authorize.Net
By far the most popular online payment gateway on the market, Authorize.Net is an e-commerce solution that allows merchants to accept payments from any country on the planet. Authorize.Net offers QuickBooks integration, address verification, and payment tokenization as part of its payment gateway, and it also integrates with a vast array of third-party services and shopping carts out of the box. International payment processing through Authorize.Net is only available for businesses domiciled in the U.S., Canada, the UK, most of Europe, and Australia. Businesses headquartered in other countries will need to obtain an advanced solution from CyberSource in order to accept international payments and settle in different currencies.
Authorize.Net charges a flat per-transaction fee of 2.9% plus $0.30 on top of a setup fee of $49 and a monthly gateway fee of $25. The service has become the industry standard in many ways and is a good fit for standard-risk businesses of all sizes that need to accept (but not make payments in) multiple currencies. Our review of Authorize.Net gives the company a “B+” rating, while the BBB gives it an “A+.”
For more information, see the Authorize.Net website.
Braintree
Braintree is an online payment processor and PayPal subsidiary headquartered in Chicago, Illinois. Braintree enables merchants to accept payments from over 40 countries through its easily integrated payment platform and through PayPal’s payment network. Braintree supports over 130 currencies and can settle in 13 different currencies (although its default is USD). At this time, merchants may only use Braintree if they are domiciled in the U.S., Canada, Australia, Europe, Singapore, Malaysia, Hong Kong, or New Zealand. Braintree is a good option for small businesses that would like an affordable online payment option that is capable of accepting international payments.
Braintree charges a flat per-transaction rate of 2.9% plus $0.30 (free for the first $50,000 processed) and does not enforce any monthly fees or early termination fees. The company consistently receives positive reviews for its sales and support teams. Our review of Braintree gives it an “A+,” and the BBB also gives Braintree an “A+.”
