Merchant Services and Credit Card Processing for Online Gaming
Running an online gaming business? If that is so, you will probably want to apply for a merchant account in order to accept cashless transactions. However, here’s the thing that you should know: the chances that your application will be declined are quite high. Why? That is because online gaming is considered a high-risk account and some of the reasons are the following:
Licensing issues. As opposed to other types of business, online gaming sites have to hurdle stricter permits and licensing rules.
Possibility of merchant fraud. Many service providers must naturally be more wary of merchant fraud; they are concerned that your account may engage in (or be exposed to) undesirable behaviour.
Excessive chargebacks. It is believed that online gaming businesses are vulnerable to excessive chargebacks.
Your business appears on the MATCH list. MATCH stands for Member Alert to Control High Risk list, which catalogs offenders who commit fraud and other unscrupulous activities. If your name or business appears on the list, it can be more difficult for you to get a merchant account.
Based abroad. Most online gaming sites are based offshore, which leaves US banks with no options to providing credit card processing solutions.
How to find a reliable merchant services and credit card processing for online gaming
To get top-notch merchant services and credit card processing for your online gaming business, make sure to find a reliable merchant account provider / payment gateway in town. Here are some considerations to take into account in the selection:
See to it that it caters to high-risk accounts
See to it that it caters to offshore accounts
Make sure that it offers a complete merchant account solution (provides all you need for your online gaming business payment processing needs)
Determine whether or not your prospect offers 24/7 professional customer support; this is to ensure that downtime is minimal
Check out if your prospect offers one of the most (if not the most) competitive rates
Find out whether or not the merchant services provider has more positive reviews than the negative ones
For more information about merchant services and credit card processing for online gaming, contact us here at Swipebox at (720) 277-0648