markets evolve, so do businesses. With the ever changing demands of customers,
merchants need to focus on providing a wholesome service that not only helps
retain customers but also attracting new. From offering variety in products and
services to accepting different modes of payment. And with new innovation
happening in the payment industry too, it becomes extremely vital for merchants
to be aware of the same.
Cash is slowly but surely replacing plastic money. But a more recent trend that has seen a gradual growth globally is using cryptocurrency to pay for products and services. While there are various cryptocurrencies being used, Bitcoin remains the most popular.
a Bitcoin Merchant Account for your business
still hesitant about whether or not bitcoin merchant account solutions is the
right choice for your business? Check out some of the advantages that bitcoin
processing offers merchants.
biggest concern for any merchant is the processing fees that are incurred,
especially high risk industries who are charged higher than that for a regular
merchant account. Another huge problem for such businesses is the high amount
of chargebacks that sometimes lead to account shutdown.
can put an end to high processing fees and chargebacks by accepting bitcoins as
Processing Fees: Perhaps, the biggest advantage of Bitcoin Merchant Account is
the low processing fees involved as compared to other high risk merchant
accounts. No matter the size of your transactions, bitcoin processing costs
less making your profit margins bigger.
chargebacks: Zero chargebacks is another benefit of obtaining a bitcoin
merchant account. Unlike credit card chargebacks, every transaction is
permanent and a merchant has the right to make refunds at their discretion.
payments and different payout options are also a few key benefits that
merchants with bitcoin merchant account solutions enjoy.
with a quality high risk merchant account provider like IBS and obtain Bitcoin
Merchant Account integrated with secure payment gateway solutions to take
care of your all your future transactions to expand your business.
There is an insane rate of rise for the requirements of sports betting Merchant account at a global level. This sports betting and Gaming merchant accounts fall into the High Risk Merchant Account category.
The PASPA (Professional and Amateur Sports Protection Act) implemented in the 1992 signed by George Bush made sports betting illegal all over and there was a ban on such merchant accounts. But recently in May 2018, the US Supreme court overruled the PASPA act and took a step towards legalization of Gaming and Sports Betting. This move, from the Supreme Court, is without a doubt, a victory for the major sports leagues.
Due to the very high money making possibilities, lot of merchants are interested in getting involved with the sports betting. The reversal of the PASPA act has given a new hope to all such merchants.
But before getting involved in such business with High Risk, you need to sit back and take some precautions, so that you don’t have to face any problems going forward. You need to consult with a reputed Financial Institutions before registering for such high-risk merchant accounts.
Apply with Merchant Service providers who have a high rate of High Risk Merchant Account approval. Taking necessary precautions is always much better that blindly jumping into the valley.
There may be transactions with high amounts in such business, so that first thing you take care of is a highly secure Payment Gateway for fluent credit card payment processing.
As the gaming and sports betting merchant account is High Risk Merchant Account, the service providers will always take a look at the history of the person getting involved in this business. They will be considering the factors like, Bank Statements, Credit Scores, Negative Bank Balance, Chargeback Rate, etc.
Operating a business successfully in an ultra-competitive market means having the ability to adapt and evolve to fit new trends and meet customer demands.
Shifting consumer preferences and new technology also means business has undergone a massive change in the way products/services are bought and sold. Slowly but gradually the shift from cash-only to plastic money is happening, especially with online businesses on the rise.
Another increasing popular trend in terms of payment preferences in recent times is accepting cryptocurrency for products and services. The digital currency may be only be relatively new but has seen massive growth all around the world.
Get the right Cryptocurrency Merchant Account for your business
Are you merchant with an online business wanting to stand out and expand? Opening a Cryptocurrency Merchant Account to accept payments would be extremely beneficial for you, especially if your customer base includes a largely younger audience.
A Point of Sale (POS) system as well as a secure payment gateway is necessary to accept crypto, for stores and online businesses.
Apart from attracting new customers and adapting to new technology, accepting cryptocurrency is also beneficial in providing extra security, decreasing frauds and quick transaction processing.
Aside from merchants, Crypto traders can also take advantage of Crypto Payment Gateway that allows one to buy cryptos using debit or credit cards. Using the payment gateway, accept card payments and issue cryptocurrency to customers or companies.
Although obtaining a cryptocurrency merchant account might seem like a task. One of the reasons being since the value of such digital currency changing withing a short interval at the time of purchase labeling the industry as high risk.
However, there are plenty of High Risk Merchant Account providers making it possible for such merchants to allow accepting digital currencies as payment. A reputable processor will allow you to open a merchant account that will be tailored to suit your business needs at lower rates.