ParallelSolutions.com Blog

Offshore Credit Card Processing

Parallel Solutions has the bank relationships in place to offer you a dedicated or sponsored merchant account through our partners in the European Union (Europe) and the Caribbean region. Payments are reliably made directly by the bank to the account of your choice. In order to begin the application process, simply click Apply Now and fill out online questionnaire. One of our knowledgeable representatives will contact you to discuss your business and inform you of your options. In most cases, merchant account setup can be completed in as little as 2 weeks. Once you are approved, you will be able to accept: Visa, MasterCard, American Express (Amex), and Discover.

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Gateway Processing Solutions from Parallel Solutions

Processing card present (Retail) and card not present (eCommerce & MOTO) transaction has never been easier. Parallel Solutions provides you with our patent pending Payment Gateway that allows transactions to be sent to the processing company via internet connection through a safe and secure connection. Some of the features of the technology are:

• Virtual Terminal-Authorize, process, and manage credit card and check transactions from any computer that has an Internet connection and a Web Browser.
• Card Present Technology-Our solution dynamically allows you the option of processing transactions in a card-present environment through the use of a MagTek card reader.
• Batch Upload Processing-With batch upload processing you will be able to you charge your customer’s cards or checking accounts in one step. This will allow you to manage your monthly customer’s accounts in the most efficient manner possible.
• Electronic Check-Our Electronic Check payment solution enables you to accept and process electronic check payments directly from your location or through a central processing area utilizing the Virtual Terminal. By accepting electronic checks, you are able to expand the payment options available to your customers and increase sales while decreasing your cost of processing payments.
• Recurring Billing-Allows you to create a recurring charge on the customer’s card to bill your customers monthly without any further involvement from your accounting department.
• Multi-Level Access for Employees-This feature allows you to tailor the amount of access each employee has to payment processing information.
• Reporting-Our system allows you total access to your transaction processing information including batch, transaction, deposit, chargeback and retrievals. We have the ability to link together multiple Merchant Identification Numbers (MID’s) as well as multiple locations. This will allow you the ability to view a summary of all MID and location activity or a specific MID or location from the same interface anywhere in the world with an Internet connection.
• API Integeration-Finally, with our API Integration solution you will utilize the highest level of secure transaction infrastructure available. Our API uses secure sockets layer (SSL) digital certificate technology to connect securely and directly between your locations and our payment network. Our engineers will work with any software provider to ensure full integration of our gateway into their software for a totally seamless experience. In addition, if you integrate your software with our solution, we will pay you. We have created an additional revenue stream for you, our partner, through our Referral Partner Program.

Check Processing (ACH & Check 21)

Would your business benefit from accepting the most used method of payment in the U.S? Parallel Solutions makes it easy to accept checks from anyone, anywhere, anytime. Our ACH product uses the Federal Reserve’s Automated Clearing House (ACH), also known as Electronic Funds Transfer (EFT), to process checks received through your web site. Our ACH product integrates seamlessly with your shopping cart or web site payment page. All of this is done on Secure Servers (SSL Encryption)and each account is pass code protected for maximum security for you and your customer.

Domestic Credit Card Processing

Parallel Solutions offers US based merchants high-risk merchant solutions. We have partnered with 1st tier processing partners to offer a wide range of high-risk merchant account payment processing solutions for your growing business. Whether you need a retail brick and mortar merchant account, online e-commerce merchant account, or mail order/telephone order (MOTO) merchant account, Parallel Solutions is your high-risk credit card payment processing solution.

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Welcome to Parallel Solutions, your last Payment Processor.

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Welcome to Parallel Solutions, your last Payment Processor. At Parallel Solutions we have the experience, relationships, and technology that will allows your business to process transactions quickly, securely, and consistently with bank partners that understand your unique needs. With Parallel Solutions you can be sure that your ability to operate your business is our number one concern. Our program will place you in the ideal situation to do that safely and securely, so you can concentrate on running your company.

Parallel Solutions utilizes a patent pending technology that allows us the ability to forge together the benefits of both onshore and offshore merchant processing account, This allows a merchant the ability to manage volume restrictions, chargebacks, and the overall customer experience all through a single interface while ensuring the business operates uninterrupted. Parallel Solutions allows our customer’s to decide when to send a transaction to one bank versus another, either because of chargeback issues, processing caps limits, or for any reason you decide. The Parallel Solution is designed to protect you, the merchant.

Think of it as a “peace of mind” policy for our merchants to protect not only your business, but your ability to do business.

The Parallel Solution is a combination of many years of experience in the payment processing industry, relationships with the right bank partners, and a revolutionary technology that makes it a reality.

Ok, that all sounds great but what is the Parallel Solution. The technical answer is that it utilizes a patent pending technology that allows us the ability to tie together the benefits of merchant processing, both onshore and offshore, which will allow a merchant the ability to manage volume, chargebacks, and overall customer experience all through a single interface. This way, you, our customer, can finally take back control of your payment processing and your business. You now have the power to decide when to send a transaction to one bank vs. another, either because of chargeback issues, processing caps, or for any reason you decide.

Combining technology, bank relationships, and industry experience to create the solution for hard to place merchants. Visit Parallel Solutions online today to find out about High Risk Merchant Accounts and more!

What is the difference between Onshore and Offshore?

Onshore processing accounts are facilitated by United States based processors and are therefore beholden to United States banking rules and laws for underwriting new accounts and determining risk. One of the most difficult rules for an onshore merchant to follow is the 1% chargeback rule. In the simplest of terms, if a merchant’s account has more than 1% chargebacks in any month then it subject to closure and all funds are to be held for 270 days.

Offshore Merchant Account providers are foreign firms specializing in credit card processing. These entities are not bound by the statutes of the United States. The main advantage for a US based company to process their transactions offshore is that the chargeback threshold may be higher, up to 2% in some jurisdictions. This is one of many advantages of processing offshore. Overall, there is a general sense that International banking institutions loosen up their Visa and MasterCard’s constraints to the more liberal international rules of commerce, rules which should allow you to operate your business legally and securely within the parameters of V/MC’s terms of service.

Why would I need both? Simply put: Security.

Many merchants operate on the fringe of what Visa and MasterCard consider appropriate, and as the political climate is ever changing, so are the constraints under which legislation may place you on either side of that line. As a high risk merchant processing through a United States based processor, your threshold for chargebacks and other no-no’s in the processing world will be much lower, you’ll be held to a higher standard than other merchants, and kept on a shorter leash. By having an offshore merchant account to backup your onshore account, you can ensure there will not be a lapse in business, as your processing will not falter if your onshore processor shuts you down. Additionally, there will be instances that it will be beneficial to process through your offshore account vs. your onshore account, whether that be due to processing caps, higher tickets with chargeback issues, or a multitude of other reasons.