Gaming Merchant Accounts are aimed toward sports books, online gambling or other games which can be played on the internet. Internet is the main source of purchase for consumers these days. From buying groceries online to playing video games or even gambling, people go online for just about anything. To be able to purchase online or even use an online service, you need to pay online as well. Payment can either be done through credit card or debit card. Internet and technology advancement now allows you enjoy online gaming as well as a little gambling. You can just log onto various websites or even download apps available on your smartphones or tabs. A wide selection of games is available to play once you purchase virtual credits.
The gaming industry which began in late 1990s is one of the largest sector of e-commerce traffic and hardly shows signs of slowing down soon. Estimates show about $45 billion in revenue in 2016 alone, and the projections for 2018 have only increased to about $56 billion. This shows a rapid growth in the gaming merchant account services industry.
Gaming merchant accounts are of two types, coded and non coded accounts. Depending upon the business type, a merchant category code (MCC) is assigned to every merchant. Licensed gaming merchants or websites will be set up as a Coded gaming service, used by game providers.
Consumers can easily enjoy gaming and gambling online by virtual credit. For an entrepreneur who wants to enter this particular section of gaming industry, there are set of rules and regulations. An online gambling and gaming merchant account is also required to process payments for their guests to have the opportunity to acquire virtual credits and play several games.
With the advancement in gaming industry, people can now play games directly through the app on their smartphones. A merchant has to be created for people that can be used to purchase credits through the app.
Chargeback Prevention for Gaming Merchant Accounts For online gaming merchant accounts, chargebacks can be an issue. After facing a loss online, the person can deny chargebacks by citing credit card issues. This is a losing battle for businesses. Hence why, InternationalBankServices.com educates merchants on the necessity to prevent, dispute and reverse chargeback with blogs on chargeback strategies published on the website.
High Risk Business A bank or a merchant account provider can easily help you acquire a merchant account. But it becomes a difficult task if your online business comes with high risk. Traditional banks and credit card companies are wary of transacting with such risky online companies since the probability of fraud is high. A specific type of merchant account i.e. high risk merchant account has to be acquired by such online businesses. Various online businesses are considered high risk which is why it is absolutely a necessity for such merchants to have a high risk account to ensure smooth payment process for its consumers.
Use our gaming merchant account services Factors like background, potential legal issues due to vague laws, high chargeback ratio of online casino and gaming businesses, traditional financial institutions refuse to take a gamble on them even though they have proved to be lucrative businesses. For effective and efficient credit card payment processes, businesses can now turn to InternationalBankServices.com and obtain a gaming merchant account in UK, London. We provide customized payment processing solutions for all business types and sizes. Stop the hassle with traditional banks and merchant providers and take a step further and create a merchant account with InternationalBankServices.com in UK, London. Here, we set you up a high volume gaming merchant services for your company.