What to Look for in an Online Gaming Merchant Account?

There is no doubt that gambling is a risky affair. But there are certain things that can help you succeed in such a high risk affair. One among them is an online gaming merchant account. With the right advice, you can make the most of it.

Experts have labeled online gambling a high risk business. Knowing the reasons can help.

Online gaming/gambling merchants go through various sorts of skepticism or even absolute aversion. Gambling readily indicates a hot-button issue in several regions and the online version follows suit.

In the US, there is a slightly inconsistent information about which of the states permit or deny online gambling for money. And also age limit is present in all states. Since there are some US states that disallow online gambling, several US citizens prefer offshore gambling sites, although those merchants may not entertain them because of the restraining US banking rules and regulations.

In Canada, online gambling is legal throughout the country and government sites provide advice on how to gamble safe and public health warnings about gambling addiction.

The UK and Ireland support the flourishing of online sports gambling business.

Due to the changing and inconsistent legal scenario of this high risk business, rejection usually occurs when seeking an online gaming merchant account. Even termination of an account may occur because of extreme chargebacks or volumes processed.

So, what do you need in an online gambling merchant account?

While choosing an online gambling merchant account, the following processing abilities will make you win the game.

  • It should accept all major credit cards including Visa, American Express, MasterCard, Discover and Diners Club and brands popular outside the US to favor market expansion (such as Maestro, Visa Electron and UnionPay). Payment wallets and mobile apps provide flexibility.
  • It should offer multi-currency option since high risk merchants offer access to a worldwide market because your customers may live anywhere in the world with an internet connection. Enabling customers to purchase products or services in a currency of their choice depending upon national location offers a competitive benefit and helps your business grow.
  • A secure and hardy payment gateway will offer the entry point that allows authorization of credit card payments straight from your website.
  • Make sure the gateway of your payment processor is PCI-DSS (Payments Card Industry Data Security Standard) Level 1 compliant, which is a contractual requirement between merchants and major credit card brands.

If you use these criteria, you can get the right processor and the right account to get started and maintain a winning hand over the growth of your business.