Reduce Cost of Accepting Global Payments
When consumers make an online purchase from a foreign country merchant they and the merchant are subject to cross border fees. This is due to the issuing bank of the shopper being in different region than the merchant account of the seller. At NETBANX we assist international merchants in eliminating these fees by establishing the proper merchant accounts and using our “intelligent transaction routing service “ to route transactions to the acquiring bank based on the card type and where the transaction originates.
Benefits for Merchants and Consumers
Increased rate of successful authorizations
Cross-border transactions are often considered to carry higher risk and have a higher decline ratio. NETBANX intelligent transaction routing alleviates this issue by sending to the same country acquirer.
Lower cost to the merchant
Cross-border transaction processing is subject to additional cross-border fees to the merchant. Processing the transaction with the same country acquirer eliminates these fees to the merchant.
No cross-border fees to consumers
Often, these fees are applied over and above the purchase price by the bankcard associations. With same intelligent routing, consumers are no longer subject to these fees, thus improving the buying experience.