How Does a Gaming Merchant Account Make Players Pay More?
There is no need to explain that the gaming industry is an ever-growing field. With time it is sure to evolve with new profit opportunities for businesses. However, gamers today are pretty aware of their rights as a customer; also, they are very clear about what they expect from a gaming platform. But with some genuine and transparent tactics, you can quickly turn players into payers and earn a huge in business. A business needs to have suitable gaming merchant account solutions for all this to happen.
According to data, the gaming industry is expected to reach $13,203,000 by 2023, and there are some specific driving factors behind it. With increasing interest in mobile gaming, the industry merchants have many opportunities to exploit. The sky is the limit if a gaming merchant knows how he should choose and use his merchant account.
Below are the tips and suggestions on how you can turn your gaming players into payers with a gaming merchant account.
Improve User Experience With Speedy Payments
You will keep chasing the players and will always struggle to retain them if your gaming platform has a slow payment process. Any business that wants to grow first needs to focus on the user experience. Even a local business can beat an international company if the local company gives a great customer experience. You cannot expect your players to indulge in a lingering, lengthy payment procedure if they go out of funds while playing gaming. A player wants to pay immediately to maintain the zeal of playing.
Only an appropriate merchant account for gaming business that works in harmony with your payment gateway for speedy transactions is valuable. The gaming industry is full of competition, and you have millions of counterparts out there. If your gaming platform does not do it, others will do that. The customers may have many easy reasons to underestimate you, and the slow payment process is usually the biggest one. The better approach is to find a renowned merchant account that helps money travel faster. To retain customers and make them pay, they mustn’t stop playing. One-click payment method is the most suitable one.
Your Online Merchant Account Should Be Compliant With Cybersecurity Rules
If customers feel safe, they play more and pay more. Simple! According to research, one out of three gaming players want to stop playing because they are not sure about the security of the gaming platform. Every player is very concerned about the privacy of their information. He wants to play on an adequately encrypted platform that follows the rule of cyber security. Without this, no business can even imagine surviving because a gaming business can lose millions of customers in one night. You need to ensure that your gaming merchant account, payment gateway, and overall network are entirely secured.
Do not forget, with already a tag of high-risk business, and it can be swift to bear a financial loss if you fail to maintain cybersecurity. But, the good thing is that with the help of automation, and artificial intelligence, it has become simpler to keep an eye on suspicious online activities. The most significant gift that a gaming platform can offer its customers is the commitment to safety. This factor can help your business create goodwill as strong as an established brand. It can turn a simple gaming business into a brand.
Control The Churn Rate, And You Are The King
The term ‘churn’ refers to a situation in which subscribers stop paying for the gaming. Your merchant account provider can quickly provide data on this aspect. One big reason is that they had a bad experience with the safety or refund parts. Another one is that their queries did not get solved at the right time, and the last most common is that they do not want to continue playing. We cannot do anything about the third reason, but a gaming merchant can do something if it is about the first two reasons.
First of all, send a reminder to the players before their subscription ends. Pay attention to the customer support service and ensure that if a customer calls for a query, he should get the answers on time. Time is an essential factor in the gaming business because players never like to wait. According to research, 10% of players stop playing on a platform if they do not get a timely response at the time of need. ’10’ is a significant number if you are losing customers. Ensure complete safety for customers’ data. Here, you need to understand that especially work thoroughly on all those safety commitments displayed on the website.
At Last, Some Precautions When You Choose a Gaming Merchant Account
After all the above points of suggestions, the most important thing is the selection of the gaming merchant account. Choosing the correct merchant account solutions can be a cakewalk if you take a few things.
- A merchant account with smooth payments should also be able to make you handle regulatory challenges. High-risk businesses quickly come under the notice of the legal institutions, but a well-managed merchant account can be beneficial.
- The payment process should be fast. 45% of gamers believe that payment procedures can be improved. You need to pay heed to the customer’s concern. It is best if you visit the review section of the merchant account provider to know how well its payment process is.
- Customization is also an important feature. The merchant account you choose should fit to handle your gaming traffic. Eskaypay gaming merchant account provider can do this for you.
Conclusion
After reading the above points, you should feel confident that turning your gaming players into payers is not tricky. The solution is always in the details, and if you pay little attention to little things, your business can retain customers for a long time. A gaming business and a high-risk gaming merchant account are already about small things. Work and keep working on the aspects mentioned above, and you are sure to get good business in the coming months. ALL THE BEST.
