According to Statista, the global digital media market shows no signs of deceleration in growth. Gaming holds the largest share of the market’s revenues. The global online gaming market has produced close to $21.1 billion in revenues. This demonstrates a record growth of 21.9 percent from the year prior. The demand was amplified as a result of the worldwide outbreak...
Streamlined payment systems not only simplify businesses but also decreases customer churn and boosts trust with customers. With digital payments on the increase comes more complexity with payment processing systems. This is also due to the many players within the payment ecosystem: credit card companies, retailers, banks, consumers. Large organizations are beginning to struggle with friction and regulation as they...
Are you in an adult, online gambling, pharmaceuticals or firearms industry, or in a similar space dealing with higher levels of chargebacks and fraud? If yes, your business is high risk to banks, and you should think about a high risk merchant account for your online transactions. Below, you can discover the most important specifics concerning high risk payment processing...
Thinking about launching a business that could be categorized as high risk? In order to process payments online, you will need a high risk merchant account. First, let’s begin by defining what a merchant account is. A merchant account is essentially a “middleman” that bridges the gap between your current payment system and your business account. Another way of seeing...
Consumers have come to love real-time payment services. They especially like the ones where there are no additional fees to pay. Considerable market pressure has been placed on banks and credit unions to offer this type of service. Doing so will provide free transfers to members and avoid the costs tied to third-party providers. As a result, many have rushed...
The Fraud Economy continues to experience growth as fraudsters did not slow operations during the pandemic. Always on the prowl, seeking vulnerability and weak links (like the pandemic), these opportunistic bad actors are ready to attack when the coast is clear. In 2020, experts have reported that as much as 1 Trillion USD had been lost due to cybercrime worldwide. ...
Launching and operating a business can be an all-consuming endeavor. A considerable amount of time, capital, and strategy is essential. Among the plethora of requirements to start and sustain a business, there is one inescapable event that rattles even the most seasoned entrepreneur…risk. The conventional risk associated with businesses usually refer to the possibility of falling short of profit goals,...
The vaping industry has exploded in such a way that many cannot resist getting in and have their share of this lucrative pie. It is estimated that by 2025, the industry is set to be worth $61.4 billion. Euromonitor, a market research group, has reported that an estimated 55 million adults will be vaping by 2021. Perhaps all these impressive...
High-risk merchants have a lot to consider when launching and running their online establishments. The first and most critical component they must tackle is how they will process their credit card payments. Most payment service providers will not offer these services to high-risk businesses. Once they secure a credible payment service provider, they need to ensure that they offer a...
In the US, real-time payments continue to grow as FIS Inc. launches RealNet. RealNet is a cloud-based software-as-a-service platform or (SaaS) that allows consumers, businesses, and governments to embark on account-to-account transactions. Known as a “network of networks”, RealNet will take advantage of The Clearing House Payment Co. LLC’s real-time payment network alongside the automatic clearing house’s same day networks...
