Gambling Merchant Account
Trading accounts for gambling are used by bookmakers, as well as companies offering gambling and other games that can be played over the Internet.
Nowadays, due to the coronavirus pandemic, the Internet has become the main shopping tool. Now people go online to make purchases, play games or just read, chat on social networks, etc.
In order to be able to play games on the Internet, you need to pay for them using online payments by debiting money from a debit or credit card.
The development of Internet technologies allows anyone to fully immerse themselves in the virtual gaming world, play on a computer or smartphone.
Pay a certain amount of money (buy a virtual loan), and the game world will open wide in front of you.
Since the late 1990s, the gaming industry has been one of the largest in the e-commerce sector. And it is not going to decrease in the near future.
For example, in 2016, the revenue of the electronic games industry was $ 45 billion. In 2018, it is already $56 billion.
In 2020, this figure is likely to exceed the $70 billion mark. These figures clearly indicate the rapid growth of the gaming services industry.
There are two types of gaming merchant accounts – encrypted and unencrypted.
Depending on the type of activity of the company, when paying with bank cards, a merchant category code is assigned – a 4-digit number. Licensed participants of the gambling industry can receive a coded trading account.
For an entrepreneur who wants to work in a niche of the gaming industry, in which consumers buy virtual loans and play various games, including gambling, there is a set of rules and regulations that he must comply with.
Consumers who want to gamble online should be able to quickly and easily convert their money into virtual money in order to participate in the game.
With the development of the gaming industry, people have been able to play games directly through applications on their smartphones.
Therefore, it is necessary to create conditions for people to purchase virtual money through applications.
Online Casino Merchant Accounts
If you work in this industry, make sure that your business is set up to accept payments through an online casino trading account. The ability to detect fraudulent activities is a valuable asset for businesses operating in high-risk environments.
Online gambling businesses typically face a large number of credit card refunds due to fraud claims, high-value merchandise, gambling laws, and government regulations.
Factors such as industry, location, and even clientele can and will bring your business into the category of high-risk enterprises. Wellcoinex offers efficient and reliable payment solutions for online gambling merchants.
Why Choose Us?
Wellcoinex, an international payment system provider, offers customized and affordable trading account services for companies of any size and in any legal field.
We establish strong relationships with banks and trading account holders to achieve long-term success.
Wellcoinex is one of the best providers of gaming payment systems offering services for creating gaming trading accounts throughout Europe and the UK.
We are active in the following countries – Great Britain, Russia, Germany, France, Italy, Spain, Ukraine, Poland, Romania, Netherlands, Belgium, Greece, Sweden, Austria, Switzerland, Norway, Ireland.
Processing Fees for Online Betting
As you have already understood, the stakes are very high when it comes to creating a profitable gambling site on the Internet. To win, you need to play.
Processing fees and competitive rates are usually higher than those that traditional banks charge low-risk merchants.
Traditional banks do not have sufficient capacity to provide trading accounts for online poker or other types of intellectual casino games.
Wellcoinex can offer secure solutions that make it easier for online gambling merchants to purchase the services of our payment gateway.
Gambling Merchant Account Regulations
Wellcoinex does not participate in blind bets on companies in this industry.
For example, companies in the fantasy sports industry that have a “Letter with a legal opinion” have more leverage over the seller. Having a gambling license confirming that a company can conduct gambling in a given country is crucial.
Banks, as a rule, prefer to work with online gambling sellers who do not exceed the traditional high-risk threshold of repayment of payments, which is less than 2%.
We cannot work with start-up companies in this industry, but in the future we can offer payment options that will meet the needs of those who want to start gambling on the Internet.
What are the benefits of a gambling merchant account?
Entrepreneurs can increase their business by having a trading account:
- Quick approval without commissions.
- No currency risk.
- The ability for customers to pay in their native currency, thereby expanding the customer base and increasing the volume of payments for online games.
- Protection against chargeback with the help of special programs.
- Providing real-time tools to get a detailed overview of all types of transactions.
- A complete set of tools for fraud prevention.
How to Pick a Payment Provider?
Wellcoinex is the best alternative to payment processors such as Paypal, Square and Stripe, which regularly disable and do not allow online gambling merchants to process payments.
Contact us even if your payment processing needs are currently met. We will compare the rates and find out if the fee for this type of account is fair for you.
We understands the unique needs of businesses associated with online casinos. Since then, we have established many acquiring banking relationships and have become experts in obtaining trading accounts accepting online gambling payments.
We want your business to flourish and succeed in the long run. Fortunately, we have the means and know-how to achieve this.