Safe electronic acquiring solutions from Wellcoinex
Acquiring for an e-commerce seller
The Internet has taken over society. This previously started to be true. Any detail that you need and also which you discover because of downloaded moments, face in the screen of the phone or PC and also acquire, makes your entrepreneurship in the field of electric commerce even more powerful.
Regardless of this, whether an individual want to purchase a product or simply control its presence, his 1st instinct is to enter the Internet and search further.
In the very process, together with the increasing popularity of the use of online stores for shopping, especially to obtain the youngest as well as the most popular products, classic companies are also opening online stores to increase their work and not to be left behind with bargaining trends.
The management of commerce on the Internet stands out from the classic trading in offline shopping centers.
And also one of the more significant differences among them – this method of payment for purchases by consumers.
The owner of a classic offline shopping center can simply implement it with consumer money, but this does not belong to the traders of electric commerce.
Providing them with different methods of payment is no less important than keeping a significant list of products in the base.
The growth in the use of bank cards for payment shows that trading companies must offer their customers convenient solutions for processing cards online in order not to lose a significant market share.
Are you a young merchant who wants to start electric commerce? Or do you carry out trade on the Internet and also wish that your commercial result has more abilities for payment?
The selection of current acquiring services for electric commerce is in this case, together with what you need to start.
What is eCommerce Credit Card Processing?
The method of payment from buyers on the Internet is known as payment processing in electric commerce. All payments without exception are processed using secure keys, which ensure the protection of data concerning the customer’s cards.
In addition, processing keys determine non-secure associations among businessmen and merchants.
See several key factors to understand when talking about electric commerce payment processing:
- Your electric commerce merchant center is paired together with the right payment processor
- Customers will include information about their cards in a secure payment chute. The chute encrypts the card information before it is sent to the processor.
- Then the microprocessor sends an alert to the central bank to prove the presence of independent money or restrictions in the payment.
- If the transaction is approved, it goes through, and also the proper system is debited from the buyer’s bank account.
The whole move captures the downloaded moments, something that may be known to you in case you have previously acquired anything on the Internet.
Credit card processing is an essential part of any e-commerce business. The credit card processing service you have chosen allows you to transfer money from customer accounts to your business account.
Moreover, these services allow you to do it quickly and conveniently. Regardless of whether your customers want to pay the bill or purchase a product or service, they should be able to do so electronically.
Have you ever wondered why electric payments are so fast? This is due to unspoken operations, due to which the processing of payments is done as if by magic.
Even though the buyer does not need to be oriented in the complexities of processing plastic bags, companies of electric commerce, bill payers, and banks need to have a basic knowledge of this as well as how it functions.
The processing of plastic mushrooms in electric commerce contains 3 components: customer interfaces, traders, and third-party general suppliers, which accumulate resources or make purchases.
As a business owner, you will need to implement regulations in all 3 areas. The established regulations affect the amount of commissions, the degree of customer service, and the uniform representation that you make in your customers.
For this reason, it is important to realize what comes into the course of processing plastic mushrooms in electric commerce, first of all, rather than making payments or selecting a general service provider.
Merchant eCommerce Credit Card Processing
If a consumer makes a purchase, the funds are not simply lost in this way. The concepts of handling plastic mushrooms for electric commerce are not combined with individual accounts in any way.
Where do the funds go? Certainly into the commercial result!
A commercial result is a bank result, which gives companies the possibility to make various types of payments. Equally as a principle, this plastic or debit card game. Traders are available only in partnership with acquiring banks.
The Central Bank controls and also guarantees the authentication of absolutely all payments. Already after processing and also acceptance of electric payments, the central bank transfers the resources to your commercial result.
Since the payments are credited right up to the moment the consumer pays for his result, your commercial result will be considered as a plastic direction. For this reason, it is generally preferable to apply for such an invention in your current bank. You can disclose the result in another bank according to your own choice.
But in this case, you will be deprived of practicality, interconnected together with the fact that all without exception are in 1 area. Just as well as in the case with every other plastic feature, you pull the obligation because of unpaid costs and commissions.
First of all, rather than go to the central bank, one should present several significant papers:
- Papers explaining what your business implies as well as how someone will work
- Individualbankingsituation
- Tax application due to the present time
- Formofoperatorpayments
In addition to these papers, the central bank can require credit control. This should be done to make sure that you have an optimal plastic image and that you do not have any economic issues that could have been foreseen. After accepting the order into the commercial result – successful trading!
Safe electronic acquiring solutions from Wellcoinex
Are you looking for a general acquiring provider to start a payment method on the Internet? Or do you want to find the most favorable type for traders?
Wellcoinex gives you a perfect payment solution for your electric commerce trading center.
Wellcoinpex, headquartered in London, is considered to be the main provider of trader accounts, offering group solutions for the processing of bank mushrooms for electric commerce, perfectly optimized to meet the payment conditions of online companies.
Regardless of the business or product you are selling, due to the extensive network of acquiring banks and the more than 95% merchant acceptance rate, Wellcoinex opens the door partnership-wide for any merchant looking for high-quality merchant banking solutions for electric commerce.
Ouradvantages
- High transaction security. We offer our customers a secure payment processing environment by PCI DSS Level 1.
- Favorablerates.
- We work with twenty currencies, including the most popular in the world and CIS countries – the US dollar, euro, Swiss franc, ruble, hryvnia, and Belarusian ruble.
- Cloud storage and data transfer technologies, which allow our customers to work stably regardless of their computing capabilities, instantly use all updates of our software.
- Convenient modular system for connecting to Wellcoinex.
- Manyconvenientpaymentsolutions:
- one-clickpayments;
- MOTO payments;
- Recurring payments;
- Payments by links and invoices.
Optimize payments and grow your business with the help of acquiring for e-commerce in Wellcoinex. Contact us and apply right now!
Acquiring for a cryptocurrency seller
Acquiring for a cryptocurrency seller
According to the facet of formation and also improvement of technologies, the methods of doing business are regularly changing. This also affects the methods of extracting payment for the realized product or offer.
Those times have passed when it was possible to pay for goods/services with only one method – cash. Together with the emergence of the Internet, the technological processes of Internet acquiring began to improve, if the payment of a product is made remotely with the support of pos-terminals or payment gateway of the payment concept provider.
As a consequence, the consumer is provided with several payment alternatives, differing as well as according to the technological processes of transferring funds to the merchant, as well as according to the type of funds themselves. This can be as well as fiat money that is written off together with the game of cards, as well as electric means, as well as cryptocurrency.
Having arisen relatively recently, it is she began one of the most common payment configurations. And also its popularity is regularly increasing. Without exception, more and more people pay for all without exception the latest and newest products.
The numerical monetary unit began to be in demand among the younger generation, which in the power of its year strives for the whole new, innovative.
What is cryptocurrency?
Cryptocurrency is a numerical payment concept that does not depend on banks to prove transactions. It is a peer-to-peer concept that allows every person in every area to send as well as receive payments. Instead that, to be physiological means, that are borne together with themselves and also change in the present society, cryptocurrency payments are available only in the version of numerical records in the online database of information, outlining certain transactions. When cryptocurrency money is transferred, transactions are recorded in a public ledger. Cryptocurrency is in numerical wallets.
Cryptocurrency has acquired its name because of this, which to control transactions is used coding. This means that the presence of saving and transferring information about cryptocurrency among wallets and also in public ledgers is used as a simple encryption. The task of encryption – is to guarantee reliability and security.
The first cryptocurrency was Bitcoin, which was founded in 2009 and remains the most popular at the moment. The interest in cryptocurrencies at a significant level is associated with selling along with selling to generate income, with resellers sometimes driving the cost up to the sky.
Types of digital currencies accepted for payment
Although Bitcoin is considered to be the best-known and also the most popular numerical currency used for payment purposes, there are other popular similar currencies. Ethereum, Litecoin, Dash, and Monero – see only certain of them, which are taken by merchants as payment. Nowadays, there are more than a thousand types of cryptocurrencies with a single capitalization of more than 133 billion dollars.
Why do you need to acquire cryptocurrency?
In addition to the obvious need to form a commercial and also to meet the preferences of consumers (again, cryptocurrency is rapidly gaining popularity, as well as so far little noticeable that this direction subsided), there are a large number of other factors according to which you, as a merchant, need to analyze the likelihood of using cryptocurrency as a method of payment. Forexample:
- Due to the dispersed payment texture inherent in cryptocurrencies, payments go directly to the merchant in the order of the Internet in the absence of the role of 3 persons, and in addition in the absence of secret commissions.
- Reliability is one of the main positive aspects for merchants as well as for consumers. The methodology of multi-level coding guarantees auxiliary reliability in the presence of transactions and also reduces the risk of identity theft or scams.
- If you are running a high-risk business (casinos, bookmakers, marijuana sales, etc.), you should be well aware of the threat of chargeback for your business. Using cryptocurrency eliminates this problem.
- The fees for processing cryptocurrencies are higher than for processing plastic coins.
- Cryptocurrencies are taken as well in England, as well as according to the whole society. Transactions are faster, in the absence of additional commissions because of international payments.
Let’s return to the main catalyst for cryptocurrency as a way to pay for your product or offer – to reach as large an audience as possible, providing a variety of payment types. Recall that commercial along with a large degree of notch cryptocurrency payment is considered a key type.
Customer satisfaction due to the result of giving him the ability to choose a more convenient payment method for himself has a great impact on the reputation of your business and also contributes to its expansion.
This is especially common among young people. In certain cases, the introduction of a payment method into your business together with the support of cryptocurrencies can significantly increase it!
Advantages of Wellcoinex’s Internet Acquiring
Meet cryptocurrency by applying the regulations of Wellcoinex, an international payment concept provider.
Are you a high-risk entrepreneur and you should form a payment method together with utilizing cryptocurrency? Have you approached banks as well as other payment concept providers and also received a disagreement?
We are very familiar with this situation. Classical economic institutions are not willing to cooperate with high-risk businessmen because of possible economic and reputational costs, difficulties in processing payments in the order of the present period, volatility, and unpredictability of cryptocurrency directions. Our company will be able to help you!
Wellcoinex, provides regulations for high-risk commercialization of cryptocurrencies. Due to the extensive network of acquiring banks as well as the impressive experience in this field, Wellcoinex has proven to be a solid, stable as well and reliable producer of payment concepts for commerce together with a high degree of commitment for merchants. Our company provides group solutions to operate together with trader accounts together with a large degree of scratch, including a reliable cryptocurrency payment chute as well as a POS terminal, so that merchants can make payments as well as on the physical level as well as the internet.
Wellcoinex provides service in London as well as throughout Europe and also has a strong indication that guarantees constant assistance to our merchants.
Are you looking to acquire your own high-risk business together with fast incentives to start working together with cryptocurrency processing? Wellcoinex is the perfect choice for your business. We have the most 95% approbation!
For cryptocurrency traders, our company provides a crypto-payment chute to purchase cryptocurrency together with the support of a debit or plastic card game. Now you will be able to make payments according to cards and also to realize cryptocurrency to individuals or companies.
Acquiring for an e-commerce seller
Acquiring for an e-commerce seller
The Internet has taken over the world. This has already become an axiom.
Every little thing that you need and that you find in seconds, see on your phone or computer screen and buy, makes your e-commerce business even stronger.
Whether a person wants to buy a product or just check its availability, his first instinct is to go online and search there.
In fact, with the increasing popularity of using online stores for shopping, especially for the purchase of younger and more fashionable goods, traditional businesses are also opening online stores to further expand and match market trends.
Doing business online is different from traditional sales in offline stores.
And one of the most significant differences between them is the way customers pay for purchases. Being the owner of a traditional offline store, you could simply accept cash from the buyer, but this does not apply to e-commerce sellers.
For the latter, providing various payment methods is no less important than maintaining a large assortment of goods in stock.
The growth in the use of bank cards for payment shows that merchants must offer their customers convenient online card processing solutions in order not to lose a significant market share.
Are you a novice seller who wants to engage in e-commerce? Or do you trade online and want your trading account to have more payment options?
Finding modern acquiring services for e-commerce is where you need to start.
What is e-commerce bank card processing?
If you want to start accepting online payments for your goods and services, then you simply need bank card processing services.
Bank card processing solutions for e-commerce are the same for online stores as POS solutions for traditional businesses.
In both cases, the same process is used (payment by bank cards), but using different tools.
In the case of an offline sale using a POS terminal, information about the bank card is transmitted through it to the international payment system that owns the card (Visa, MasterCard, etc.), to the issuing bank and the acquiring bank.
The buyer’s authorization is carried out by entering the PIN code of the card into the POS terminal.
In e-commerce, the buyer must manually enter the card number, CVV code on a special page of the payment gateway, and then the code is sent to the phone number linked to his bank account.
That is, in order to make a purchase in an online store, a person must specify the product he needs, enter his payment details, and the transaction will be completed.
The processing of a bank card for e-commerce takes place at the same speed as the processing of a card in a POS terminal, that is, in real time.
Safe electronic acquiring solutions from Wellcoinex
Looking for an acquiring provider to start accepting online payments? Or do you want to find a more profitable option for a trading account?
Wellcoinexoffers the perfect payment solution for your ecommerce store.
Wellcoinex, headquartered in London, is a leading merchant account provider offering comprehensive bank card processing solutions for e-commerce, ideally suited to meet the payment requirements of online businesses.
No matter what business or product you are selling, with our strong network of acquiring banks and more than 95 percent seller approval rate, Wellcoinex opens its doors of cooperation wide for every merchant looking for high-quality bank card processing solutions for e-commerce.
Our advantages:
- High transaction security. We offer our customers a secure payment processing environment in accordance with PCI DSS Level 1.
- Favorable rates.
- We work with twenty currencies, including the most popular in the world and in the CIS countries – the US dollar, euro, Swiss franc, ruble, hryvnia, Belarusian ruble.
- Cloud storage and data transfer technologies, which allows our customers to work stably regardless of their computing capabilities, instantly use all updates of our software.
- Convenient modular system for connecting to Wellcoinex.
- Many convenient payment solutions:
- one-click payments;
- MOTO payments;
- Recurring payments;
- Payments by links and invoices.
Optimize payments and grow your business with the help of acquiring for e-commerce in Wellcoinex. Contact us and apply right now!
All You Need to Know About Crypto Acquiring
Have you ever wondered what it takes to process a single payment transaction? Our CEO, Peter Kozyakov, explains the complex system in simple words.
At the end of 2020, Mercuryo launched a new financial product, which almost immediately began to show good results. The demand for crypto-acquiring, a service that allows electronic stores to accept payments by credit and debit cards, is more relevant than ever.
From the buyer’s point of view, the process of paying for goods and services on the Internet does not look complicated. You choose the product you like, enter your credit card details, and after a few seconds the purchase is completed.
However, from the point of view of the seller and the payment provider, this is a complex mechanism, which requires a lot of time and effort to set up.
If you plan to sell cryptocurrency instead of goods and services, everything becomes even more complicated.
If you are a novice web merchant opening an online store, or a client who wants to learn how the magic of acquiring happens, we decided to demystify the process of Internet acquiring and share a few interesting moments.
Internet Acquiring: The Basics
When it comes to providing acquiring services, many participants are involved.
Firstly, we have a customer who has received a credit card from a bank (let’s call it an issuing bank).
Then this customer goes online and decides to buy something in the store. The store works with an acquiring bank. It can be the same bank that the buyer uses, or another; it does not matter.
And this bank provides the store with a payment solution that makes the entire online purchase transaction possible.
Therefore, when you pay for goods online, the store sends your card details to the acquiring bank.
The bank, in turn, transmits this information to Visa or Mastercard, and then they send it to the issuing bank to make sure that the card is legal and there are enough funds on the balance.
If everything is in order, the purchase is completed. But since the buyer has to wait until his order is shipped, monetary settlements between banks are also not instantaneous.
The issuing bank will send the funds to the acquiring bank only the next day if they are both, say, in the EU. As for the United States, it may take another day to receive funds.
After that, the acquiring bank will reimburse the amount to the store in accordance with their agreement.
This is just a brief introduction to how Internet acquiring works, but the devil is in the details.
Internet Acquiring: Special Aspects
Each financial service has a complex framework for fraud prevention and creating a highly efficient and secure environment for customers, merchants and banks.
Below are some of the most important aspects of the Internet acquiring model.
MCC
The seller’s category code or MCC is the code that the electronic seller receives during the registration process.
If you look at your credit card history, you will immediately see it – this is the category of the store where you made the purchase.
Whether it’s entertainment, food, travel, cosmetics or financial services – every seller has a code that defines it.
There are a few purposes to this metric:
- Determines the reward (cashback) that the buyer receives for using the card.
- It indicates whether the transaction data should be reported to the Tax Service.
- Determines what percentage the merchant should pay to the credit card processor.
By the way, financial services are one of the most expensive categories, and sometimes processors charge an additional commission, considering these operations as expensive as cash withdrawals.
Luhn algorithm
The Luna algorithm is a mathematical formula that helps to quickly determine whether a customer has provided reliable credit card information.
Errors often occur when entering credit card data, and the Luhn algorithm was designed to avoid them and speed up payment processing.
BIN
If you haven’t heard yet, the bank identification number (BIN) consists of the first six digits of your credit or debit card.
These numbers contain all the important information about the card, including its brand (Visa or Mastercard), type (debit, credit), level (platinum, gold, ordinary, etc.), as well as the country of the issuing bank.
In addition to providing important information to merchants, BIN helps prevent theft and other security breaches.
3-D Secure
The 3-D Secure protocol is an additional layer of security designed to protect credit and debit card transactions. In practice, it looks like this: when making a purchase, the buyer must confirm his identity by entering a one-time code sent by the card issuer to his phone via SMS.
This is an effective tool that protects all participants in the acquiring process and helps to reduce the number of refunds. However, it is necessary that both issuing banks and acquiring banks support the 3-D Secure function.
Otherwise, it will be much more difficult to resolve the situation if fraud does occur. Most banks support this feature, and some countries have made the 3-D Secure feature mandatory.
Interchange rate
Another important component of the Internet acquiring model is the commission for an interbank transaction.
These fees are set by credit card companies and must be paid by either the merchant or the customer.
In Europe, the interbank commission remains relatively low – about 0.4%. In the USA, this fee starts from 1% and can go up to 5% or even higher.
Platinum and gold cards have a higher interbank commission rate because they offer more benefits to their users.
The Interbank Commission encourages issuing banks to issue attractive promotional offers and encourage users to use credit cards more often.
Chargebacks
Chargebacks were invented to protect credit and debit card holders. For example, if your card was stolen or you received a damaged item, you have the right to demand your money back and receive a refund.
In fact, neither banks nor credit card companies like refunds because they symbolize losses. As a rule, the maximum number of chargebacks approved by financial institutions should not exceed 1%.
If your company goes beyond these limits, you are likely to have problems with the acquiring bank.
Why is acquiring necessary for gambling
Recently, gambling has become legalized in many countries and the demand for gambling has increased significantly.
Nevertheless, many users are stopped by the numerous risks concerning this sphere.
But the modern solution of acquiring for gambling allows securing transactions in the sphere of gambling, creating the most comfortable conditions.
We will tell you why acquiring began to be used in gambling, how to choose the right platform and what are the peculiarities of this kind of transactions.
Why is acquiring necessary for gambling
Online payments must go through a processor to facilitate a card transaction with a bank, there is no way around this other than using prepaid solutions such as PayPal or cryptocurrencies.
The reason for the risk is almost certainly money laundering, where the finances that go into the casino are not always the same money that comes out.
There are a number of reasons why gambling is considered a dangerous activity and acquiring is preferred for making payments:
- Banks don’t want to be involved in risk because it’s expensive and time-consuming, and they would also rather not be associated with gambling.
- The chances of fraud, KYC & AML problems, and chargebacks are much higher in these industries, causing additional headaches for payment providers and banks.
Despite the fact that gambling is licensed in many countries and thousands of companies around the world use license permits to operate, there are some risks when making payments.
That is why many users have decided to use acquiring, thereby significantly reducing the existing risks. In addition, many business owners use acquiring because it helps make the site more secure.
In addition to industry risks, the industry is seeing higher levels of fraud and chargebacks in payment processing.
To have the tools to monitor and prevent these problems before they hurt your site it’s best to use acquiring services.
They can help keep your gambling payment processing stable and secure.
If you are in this industry, make sure your business is set up to accept payments through an online casino merchant account.
The ability to detect fraudulent activity is a valuable asset to businesses in high-risk environments. Online gambling businesses typically face a lot of credit card chargebacks due to fraud allegations, high-ticket items, gambling laws, and government regulations.
How to choose an acquiring site
The main requirement – the payment system for the casino must support the merchant account for gambling.
Such accounts are traditionally categorized as High risk: because of the large number of transactions, high risk of refunds, and fraud by customers (for example, payment with stolen card data).
To put it simply, a merchant account operator has to spend a lot of resources to provide transactions for a casino site.
Not everyone is ready for that. Gambling bans in many countries also matter.
To eliminate reputational risk and sanctions from payment systems, many banks refuse to work with gambling projects.
That is why the first criterion is that payment system for online casinos must provide conditions for cooperation.
In most cases, these are specialized operators or payment aggregators for gambling.
Also, take into account such nuances:
- Processing bank cards VISA, MasterCard, American Express, etc.
- The ability to offer players local payment methods.
- Support for payments by electronic money, according to the geography of the site customers.
- Ability to accept subscription payments (recurring payments).
- Fraud prevention system and transfer of responsibility for chargebacks. At a minimum, the payment operator must have fraud monitoring and support 3-D Security protocol.
- Easy integration with major gaming platforms.
Equally important criteria when choosing an online gambling payment gateway are its features and how it benefits your gambling business.
Here are some of the basic features when looking for the best payment service provider for your online gambling and casino gateway and merchant account.
Quick transfers
To retain existing customers and build a large customer base, you must make your payment processes simple, fast and hassle-free.
That’s why you need to partner with a payment service provider that offers fast, seamless, and convenient payment processing times for customers, thereby ensuring that you don’t lose your customers to your competitors.
Low commissions
Your company’s turnover and profit margin are a reflection of your business growth.
Therefore, a payment solution implemented by a payment service provider that takes into account your turnover and profit margin is a sure way to boost your business growth.
Therefore, it is recommended to cooperate with an experienced payment service provider, which offers competitive rates and no hidden fees.
Solid protection
Trust, reliability, and trustworthiness are some of the fundamental principles that distinguish a good merchant account provider from a bad one.
If you really want to maintain trust and reliability with your target customers, you must ensure that their sensitive financial and personal information is kept safe and secure.
Many payment processing providers offer advanced technological features to automatically detect and prevent fraud and chargebacks.
Therefore, you should only partner with a payment service provider that guarantees the safety, privacy, and security of your funds and other data for you and your customers.
Top acquiring systems for gambling
Below is a list of the best-acquiring systems that work in the field of gambling. With these services, gambling will become much safer.
InterCassa
InterCassa is a service with a large set of features, and a large number of the most diverse services are available on the official website:
- currency exchange;
- acquiring;
- making payments to different regions.
This is a multi-currency payment system, which allows you to make and receive payments in any currency you want.
The service is characterized by minimal fees, prompt payments, and the highest level of customer protection.
Moneygrator
The platform allows you to make secure payments in any currency, it is also possible to process transactions in cryptocurrency.
This platform provides merchant accounts, has favorable offers, and guarantees a high speed of payments.
Moneygrator also has a financial exchange function, so users have an extended set of features available.
Wellcoinex
Another fairly popular acquiring service is Wellcoinex, which allows you to use an acquiring service or set it up to be able to safely operate an online casino.
Cooperation with Wellcoinex has a huge number of advantages:
- Guaranteed security of client assets and personal data (the company does not collect, store or transfer information about clients to third parties under any pretext);
- qualified technical support 24/7;
- the ability to accept and process payments in cryptocurrency;
- intuitive interface;
- the fastest possible moderation;
- technically competent service that does not provoke unnecessary problems and questions neither for you, as the owner of the merchant, nor for your clients.
Wellcoinex constantly works with high-risk projects, so it knows everything about how specific areas are gambling and betting.
The knowledge of how to set up acquiring is constantly updated, and new trends and technical capabilities of the service are studied.
Payment gateway and merchant account for gambling
Given the activities of gambling projects, merchant accounts for casinos have their own peculiarities. Merchant can be opened only for a licensed legal entity. Standard steps:
- create a website and integrate certified software into it;
- Choose a reliable bank and open a checking account;
- collect a package of documents (about this below);
- choose an operator and apply for a merchant account;
- agree on the details, sign the contract and integrate the payment acceptance tool into the site.
To legally accept payments in the casino, most operators require a significant set of documentation from clients during registration.
This is the founding documents of the company, which will confirm ownership of the resource, the passport data of the founders, the bank account statement of the organization for the past six months, and the account statements of the owners.
Each operator may offer individual requirements and conditions.
To get a positive result from a payment aggregator, you need to prepare the site. The pages of the gambling project must contain the following information:
- If a refund is provided, there must be detailed conditions for this (reasons, terms, amounts);
- name and address of the company’s registration, according to the documents;
- mandatory policies (Terms of Use, Privacy Policy, KYC/AML Policy, Refund Policy can be combined into one document);
- contact details of the company’s head office, customer support contacts, beneficiary data.
If acquiring for online casinos provides a specialized payment aggregator, the scheme of interaction looks as simple as possible: both for the players and for the administrators of the gambling site.
Peculiarities of payment processing in gambling
In order to make gambling as safe as possible, acquiring is used. It allows to a significantly reduce risks and guarantee the security of the transaction and confidential data.
Thanks to acquiring, the payment processing process consists of several stages:
- Transaction processing.
- Transmission of payment information to the issuing bank.
- Determination of the possibility to perform this transaction and write off funds from the client’s account.
- Operation Confirmation.
In fact, funds are blocked in the system, so customers can be confident in the safety of the transaction.