Are you an owner of any online gaming business and looking for a way to accept online payments through credit and debit card processing for your business? Then you have come to the right place. Because all you need is an Online Gaming Merchant Account to start accepting the payments instantly and this blog will help you open the Merchant account you actually need in your present situation. So, we request you to keep track of this blog and we assure you all your queries will be solved.
The online gaming and gambling industry is changing drastically with each passing day. While some countries have made this online gaming and gambling illegal the others are making the business of over 1 trillion US dollars on annual bases.
Most of the online gaming merchant account are stated offshore because of the high risk involved in the business. Majority of the banks and service providers hesitate to work for such business because of the high risk, as high-risk business brings along high chargeback rates.
Hence, the only way you can start accepting credit card payments through online transactions, you need to look out for a provider/processor with a high rate of High Risk Merchant Account approvals and is also willing to work for such businesses.
The Gaming Merchant account takes into consideration gaming businesses like Horse Race Betting, Lotteries, Mobile Gambling, Casinos, Online Poker, Online Bingo, etc.
All you need to do is click on apply for Gaming Merchant Account and your Online Gaming Merchant Account will be ready with approval within a couple of days.
The gaming industry that rose to significance in the 90s has become one of the biggest source of internet traffic in the world. This global industry has been showing a steady growth of 10% for the last two years and is expected to reach a massive $180.1 billion by 2021. With approximately 456 million gamers enjoying eSports around the world and thanks to rapid advancement in technology, it is fair to say the market will not only grow further but thrive.
As a gaming merchant, you must be well aware of the techs and trends that will allow your business to expand further. But massive potential market growth also means increased competition. And in order to survive, a merchant must take care to understand the demands and expectations of the customers.
One such crucial element of online gaming business that merchants need to pay attention to is the payment industry and its advancements. In this day and age, a single payment method will only act as a deterrent to your growing business hence, variety of payment methods offered to your gamers will not only ensure customer satisfaction but also keeps you ahead of your competition.
An online Gaming Merchant Account has become an essential tool for the growth of gaming businesses. Apart from allowing a gamer to transact choosing their preferred method of payment, it also delivers a wide range of benefits for the merchants as well as the customers.
• Get instant approvals for online gaming merchant account with zero set up fees
• Gaming merchants need not worry about foreign exchange risk
• With a gaming merchant account, a merchant can expand their business by allowing gamers to pay in their domestic currency. This means increased traffic and a loyal customer base.
• Avoid chargebacks with chargeback prevention tools and programs
• Multiple integration option means the hassle to get PCI compliance is reduced for the merchants
• Get a detailed overview of all your transactions with real-time reporting tools that are integrated with gaming merchant accounts
• Most importantly, gaming merchant account providers also equip merchants with fraud prevention tools that help with safe and secure transactions.
Obtain quality Online Gaming Merchant Account solutions from reputable processors like IBS ( International Bank Services ) and secure a simple, quick and quick-click payment system that allows your gamers to process transactions faster and enjoy an overall pleasant gaming experience.
What is Gaming Merchant Account?
If you are owner of an online gaming business, you may feel the need of online transaction of money though credit and debit card processing. A Merchant account is needed to perform such online transactions and such merchant account is called the Gaming Merchant Account or Gambling Merchant Account.
What are the different kinds of Gaming Merchants?
The most common kind of Gaming Merchant are the Online Casinos. They have a high frequency of online payment processing. Other Gaming merchants include Online poker, online table games, Fantasy Sports, Multiplayer online gaming, etc.
Is Gaming Merchant Account considered High-Risk?
Yes, you may have come across a situation where you need a Gaming Merchant Account but cannot find the right resource. This is because Gaming Merchant Account is classified as High-Risk and most of the banks and financial institutes do not take the risk to entertain any such kind of High Risk Merchant Account.
Why is Online Gaming is considered High Risk?
Following are some of the reasons why Online Gaming merchant are classified High-Risk.
- Total turnover of online gaming of very high and hence the business is considered to be high risk by Merchant service providers and banks.
- As the business offshore it is has a high possibility of frauds and money laundering making it a High-Risk business.
- This business includes international transactions and multiple currencies this makes the business a high risk.
- This Business includes a high percentage of chargebacks. The membership payments leads the consumers to take a 30 free trail pack and further discard membership after the trail ends. This rate of chargeback makes this business a high risk.
We suggest you to do a proper background check of the best Merchant service provider with a high rate of High-Risk approval rate. Such provides will help you with best services related to your Gaming Merchant Account.