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View Full Version : US merchant account for seller in Korea...


boogyman
10-21-2008, 01:09 AM
I'm a seller located in Korea. I used to use Mypaysystems until their little fiasco a few years ago, and then I switched to a Korean 3rd party processor, and have had few issues with them until recently.
Suddenly in October, my processing company tells me that due to the high number of chargebacks that they are getting, not just from me, but from all their merchants, the credit card companies have forced them to accept only Verified by VISA and Mastercard Secure cards. It seems to me that a very low percentage of the world's VISA and MC users are enrolled in the programs, so it's useless for me to accept CC anymore.
So, now I am forced to look elsewhere yet again, for a CC processor. I have been using PayPal as an alternate payment method, but right now it's the only payment method that I can accept.
Is it possible to have a relative in the US sign me up for a merchant account there? He could technically become a representative of my company on my behalf. My only concern is, taxes, as he is currently employed, and I don't want him to have difficulties with his taxes because of his affiliation with another company. Would it help if he incorporated my company in a place like Delaware?
Please give me any pointers on how to obtain a merchant account in the US. We ship all of our produts directly from Korea, and I'm not sure how that would affect the taxes and legal issues for my company.

jalami
10-21-2008, 12:42 PM
I'd think that it would be better for you to look into Europe or offshore. A lot of US acquirers frown on the business having its operations outside the US. What kind of monthly sales volume ($) and type of product?

boogyman
10-21-2008, 01:22 PM
We sell aftermarket products for Korean cars, so it's not high risk, and right now, our sales are about US$30K per month.

dreamcodedesign
10-21-2008, 08:01 PM
Don't think any US merchant will allow you to get a merchant account. To get a merchant account you need to have a presence in the United States. Maybe PayPal can help you out if it's available in Korea.
All the best,

boogyman
10-21-2008, 10:10 PM
Don't think any US merchant will allow you to get a merchant account. To get a merchant account you need to have a presence in the United States. Maybe PayPal can help you out if it's available in Korea.
All the best,
Um... did you read my original post? I was asking about incorporating in the US, and what this would entail. I have a cousin who could do this for me who lives in Texas.

dreamcodedesign
10-21-2008, 10:45 PM
Yes, I did read it. If you were to found in Delawere, you would need a registered agent. I recommend these guys https://www.nrai.com . Your cousin could act as a member of your LLC or INC. I really don't know about the foreign policy we have here in the US. I would contact a lawyer for more info.
All the best,