GAMING MERCHANT ACCOUNTS

It is not very easy for gaming operators to acquire a gaming merchant account that has been approved by domestic merchant account providers, including designated banks.

There are several online gaming agencies available these days, but almost all are considered as gambling-oriented. During the gaming process, there are several transactions that take place over the internet. As most of these are large transactions, there is a need for huge amount of funds that once can access instantly.

These processes are usually carried out with the help of electronic payment methods such as credit cards. For this, it is essential to have a “gaming merchant account”. However, gaming websites related to gambling fall under the high risk category. This is because this type of business has huge amount of funds at stake.

Though most of the merchant account providers do not approve accounts for the gaming category, there are a few firms that approve accounts for recreational or competition games. Though gambling operations carried out over the internet look lucrative, they are highly prone to fraud and illegal operations. This makes gambling over the internet very risky. This is the primary reason why gaming businesses are denied access to a gaming merchant account.

Since it is very difficult to get a gaming merchant account, the demand for global as well as offshore agencies is increasing each day to operate as merchant account providers.

There is sufficient information available on the internet about such agencies. If a gaming operator requires information, he or she will have to do some amount of research online. If you contact a particular agency, they will listen to your needs and then convince you about the viabilities associated with gaming. After all the procedures are complete, the application is generally approved which in turn results in granting the applicator with the gaming merchant account.

Gaming merchant accounts usually offer good rates. Discounts of close to 6% are offered to traders. There are several other benefits associated with gaming merchant accounts. Some of them are mentioned below –

-       Gaming merchant accounts are usually approved with 2 to 3 days.

-       The time taken to set up such accounts is very less.

-       The set up fees are very competitive.

-       Online billing or accounting is also available.

-       Secure, encrypted and real time processing.

-       Virtual terminals.

-       Offshore USD processing facility is also available.

-       High quality technology is provided. This is effective in the prevention of fraud.

There are also no unnecessary problems associated with gaming merchant accounts. This makes this type of account very attractive. There are a few factors that make the gaming account holder responsible for conducting the operations. These are as follows –

-       Huge amounts of fund involved.

-       If the management does not meet the norms and is found to be improper, then the licence may be cancelled.

-       It is essential to maintain the consumers’ trust.

-       The professional as well as the gaming industry reputation has to be safeguarded. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.