5 Things to Consider Before Choosing Online Gaming and Gambling Payment Solutions

Sep 01, 2020

The worldwide gambling industry is booming, with an estimated global gross yield of nearly $500 billion in 2019 – nearly ten percent of that amount flowed through online gambling sites. The valuation of active players also reached 2.3 billion worldwide last year. Where does the U.S. sit in all of this?

Despite being incredibly hesitant to embrace the industry when it comes to online gambling, the U.S. has become one of the world’s most significant gambling markets. Recently, it has shown signs of waking up to the huge potential the industry offers. Even so, these gambling operators really need to work hard to keep up with other markets that have already embraced online gambling and mastered what it takes to be competitive.

If you are interested in diving in as a gambling operator, the first place to start is to select a payment service provider. But be thorough. Not all providers are created equal. You will need to find a high risk provider that specializes in working with industries labeled as high risk, like online gambling.

As you search for a payment service provider, here are 4 things to consider:

  1. One-click checkouts – Regardless of industry, customers today expect speed. One of the first things you should inquire about is whether the provider can support one-click checkouts. This options allow you to facilitate fast and secure card payments without interruption, redirection or waiting. With a quick click, your customers can pay without having to look up their credit card details each time.
  2. Fraud protection – Chargebacks are a huge challenge for operators – and an incredibly expensive one. When you partner with a high risk specialist like eMerchantBroker.com, you gain access to the best chargeback protection and prevention programs in the industry. The provider you choose should offer services that not only help you manage chargebacks when they occur, but also proactively minimize their occurrence.
  3. Global payments – If you want to operate a really lucrative business and maximize global revenue, you will need to also find a payment system that is flexible enough to handle payments in each market. This ensures players can make deposits in their home currency and use different languages. Offering payment types for international customers also increases consumer confidence.
  4. Reporting and analytics – Does the provider offer services that also help you better understand your gaming product sales? The ability to quickly track sales, reconcile payouts and monitor conversion rates is a must. Players today will also expect to be able to utilize online banking, PayPal and mobile billing.

Ensuring the highest level of security and user-friendliness is a huge part of running a successful online gaming and gambling business. If you need payment processing services for your new venture, consider partnering with the experienced team at EMB.

Online Gambling Merchant Account

eMerchantBroker.com specializes in payment processing solutions for businesses that require high-risk merchant accounts to process credit card payments. Voted the #1 high risk payment processor in the U.S., EMB boasts an A+ rating with the Better Business Bureau (BBB). With our team at EMB, you can enjoy the best chargeback protection and prevention programs in the industry. You not only get a highly reliable and secure online gambling merchant account for your business, but you also secure assistance in fighting fraud and mitigating chargeback levels related to your business.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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