An online merchant account is a must for businesses operating online. To accept payment online, it is mandatory to open a merchant account. When you are out in search of merchant account provider, you will come across that term ’Offshore Merchant Account’. Now you may want to know what actually an offshore merchant account is. It often have negative connotation and are often thought of as an account reserved for high risk merchant who are unable to get approval for merchant account within their own home country.