Panama merchant accounts have become very popular in recent years. This comes as a result of the refusal of many banks in the United States and other countries to accept high risk merchant accounts for adult merchant accounts, escort merchant accounts, gambling merchant accounts, travel merchant accounts and other high risk industries. In our time in the industry, we have had the ability to establish contacts in Panama that are ready and willing to accept your request for a high risk merchant account based in Panama. Many times this comes as a last resort because of the lack of success in getting merchant accounts approved domestically. However, you'll be happy to see the fantastic rates that we can offer you on a Panamanian merchant account.
Over the course of the financial turmoil in the United States, Europe and the world, banks placed restrictions on many different industries. Banks are now scrutinized by governments to ensure they are not facilitating any kind of money laundering or other illegal criminal activities. In addition, banks, looking to minimize their losses, have implemented strict underwriting procedures to protect against fraud in an ever increasing netcentric hacker and fraud prone world. The changes of rules and procedures among different countries led to an array of problems in the international market as well as to a plethora of deals being done to take advantage of them. Thousands of businesses in the United States, the United Kingdom, and Europe have been seeking shelter from the financial measures that their respective governments would like to impose on them. The merchant account industry is no different. Rules governing basic online credit card transactions in one country can be incredibly different in another. The decreased paperwork and taxes that many companies reap the benefits of can fetch them savings of millions of dollars. Such is the case in Panama.
Many of those businesses that have decided to flee from their respective countries in search of less regulation or taxes have opted to settle in Panama. What makes Panama special is that it allows for companies to propel their businesses forward without drowning them in the paperwork that some major countries might have required. Throughout the years, our team at Painless Processing has created contacts with banks that span the globe. Many of those contacts were made in Panama itself. The freedom that many merchants experience as a result of their Panamanian credit card processing accounts can pay dividends for their companies. In addition, our contacts in Panama are able to offer some of the most competitive rates on high risk merchant accounts that can be found anywhere in the world.
Financial regulations of different sectors of business like merchant accounts don't look like they'll be going away any time soon. The result is a throng of business owners looking to offshore merchant accounts such as those in Panama to take on the business that their local banks refused to accept. Whatever your industry, we are certain that we can get you a safe and cheap merchant account in Panama within 48 hours. Contact us at Painless Processing today and see why we are the best in the industry.