How to Choose a Fantasy Sports Merchant Account

Aug 28, 2020

Trying to find the right merchant account for your business can be an overwhelming task. Few payment processors offer merchant accounts for this industry, so how do you know you are getting the best and safest option? With fantasy football season upon us, now is the perfect time to do a little payment processor shopping. Here are a few tips that will help you find a provider that is right for you and start accepting payments.

High risk support

Above all, you will want to make sure the provider is a high risk specialist. They will understand the challenges your business faces and how to mitigate the risks. A high ratio of chargebacks, for example, is one of the top concerns for fantasy sports merchants. So much so that traditional banks will not even consider working with you and setting up an account. A payment processor that supports high risk payments, on the other hand, can get you approved in as little as 24 hours.

Industry Expertise

In addition to supporting a high risk company, does the payment processor understand the ins and outs of a fantasy football business? It is not uncommon to have your merchant account frozen or even completely dropped by a leading aggregate payment processor, leaving your players eager to place bets without a way to place them. Ensuring you are partnering with a processor that has industry expertise is paramount if you want to operate without interruption.

Essential Features

The features a fantasy football business needs are unique. It may require a subscription-based model, phone order-based or online order-based. Make sure the processor you choose supports the features you need to operate efficiently. As you search, keep in mind they will also need to be able to approve high risk payment processing based on the fantasy sports your business supports: football, baseball, basketball, hockey, NASCAR, soccer, golf, etc.

Chargeback Protection

Because chargebacks are such a common occurrence in the fantasy sports industry, the payment processor must go beyond being aware of them – they need to be capable of helping you tackle and prevent them. An industry leading chargeback protection and prevention program will help you minimize chargeback risks and proactively protect your business when a dispute does arise.

Get a Fantasy Sports Merchant Account

As a high risk specialist with years of experience in providing high risk merchant accounts for fantasy sports businesses, (EMB) is in the game and ready to assist merchants in processing credit card payments effectively and efficiently. EMB offers customized payment processing solutions for all types and sizes of companies and boasts an A+ rating with the Better Business Bureau (BBB).

To begin the process, you can apply online for a fantasy sports merchant account. Merchants can get approved in as little as 24 hours. Once approved, EMB can also set up chargeback management tools and a payment gateway, along with a fraud filter for online payments.

These are just a few of the accounts EMB approves for fantasy sports:

  • Baseball
  • Basketball
  • Hock
  • Soccer

Start the application process today and we can have you set up with a merchant account in as little as 3 days:

  • No Application Fees
  • Competitive rates
  • No VISA/MasterCard Required
  • Secure Payment Gateway

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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