Online Casino Merchant Account is an integral part of the Online casino Business. The industry is quickly growing due to online reach. Therefore, an online casino business requires a merchant account to accept the online payments for the business.
“ According to the most recent data (from 2020)… UK took £5.7 billion GGY – that’s just under 40% of the entire market” (XACE)
It is safe to say that an online casino is an expanding business in the current market. Every casino business that processes online payments needs a merchant account to accept the funds.
However, there is a big problem in between.
What is the big problem with getting an Online Casino Merchant Account?
The great obstacle lies in the high-risk factor of the business. In other words, Online Casinos are considered a high-risk business due to multiple factors. The parameters that decide the risk factor of a business are entirely independent of any norms. A conventional bank or a merchant account provider tends to avoid online casinos dues to:
- The high volume turnover of the business significantly increases the volatility of the business in the market. The high-risk factor derives from the instability of the funds and the volatile nature of the high volume.
- Most of the time, an online casino is situated offshore. The word ‘offshore’ instates fear for the banks and service providers. They think that an offshore merchant is maybe more liable for fraud.
- The High Chargeback Ratio is also a deciding factor. Chargebacks put the credit score of a business on the line. Furthermore, a chargeback costs a service provider and a bank dearly. Therefore, this business is avoided by them.
- The Gambling Industry is infamous for frauds and scams. A fraud or a scam is a huge risk for any financial body to take.
It can be a huge headache for any online gambling merchant to get a merchant account for the online business.
Are these parameters the only reason? And how can you avoid this?
Well, these parameters are just a part of many reasons. In other words, most not all the service providers try their level best to avoid these merchants in general. Some avoid the offshore parameter and some consider the high volume turnover.
Moreover, the volatility of the online casino business is crucial for considering the merchant account for a business.
But Can you avoid the high-risk factor from your business? You cannot remove the high-risk business tag from your business. Thus, the question, what about a merchant account?
A high-risk business needs a high-risk merchant account. Moreover, you will need a casino payment gateway as well. Anyway, an Online Casino Merchant Account is a high-risk merchant account. These are offered by merchant account providers that deal with high-risk businesses.
Eskaypay is a Merchant Service Provider as well as a Payment Service Provider. We will help your online casino business to get a merchant account to accept online payments for your business.
How can Eskaypay’s Online Casino Merchant Account help your business?
There are multiple benefits of choosing Eskaypay’s services. Moreover, there are some major benefits for your casino business as well.
- Offshore Online Casino Merchant Account: casinos are strictly regulated in some countries. Moreover, there are taxes that your business needs to pay for the business. However, an offshore merchant account substantially decreases the taxes. Your business can enjoy the tax benefits for all online payments.
- Account and Fund safety: you get the best in class privacy for all the transactions. Moreover, your funds will be safe and secured in the account. Most of the offshore banks that our business is connected with, offer the best-in-class security. It will ensure a better business life.
- Security of transactions: transactional security through the PCI Compliant channel ensures that the transfer is encrypted throughout the channel. The banks offer Top-Notch security for the transactions.
- Complete Merchant Assistance: Eskaypay offers complete merchant assistance for ease of merchant account. Our expert in-house team gets in touch with your business to smoothly deal with any needs or demands for your business.
- Instant Approval: We have a range of banks for merchant account. Eskaypay’s reach and scalability allow us to get instant approval. Your Online Casino Merchant Account will be set up in no time. It will allow you to readily accept online transactions for your business.
- 24 x 7 Support: We provide professional support for you at any time and on any day. We understand that payments are not your primary niche. Thus, we are ready to tackle any obstacle thrown your way. Your problems are our priorities.
- Global reach: With a payment gateway integrated into your website and a merchant account, you can reach a greater audience. The payment gateway has multiple currency support and an online casino merchant account has multiple currency acceptance features. This allows you to reach a bigger audience and provide them the convenience to pay in their local currency.
These are some of the benefits for your business. However, a casino payment gateway is a great subpart of online payment processing.
When you get your Online Casino Merchant Account you can readily accept online payments. However, it is up to you to process the payments on your website. Eskaypay on the other hand has a complete solution of merchant account and a payment gateway for your business.
Conclusion
To sum up, a merchant account for your casino business is essential to transition into online payment. Accepting online payments for your business by a merchant account helps your business to grow in the international market.
Eskaypay provides the best services for your merchant account to get instant approval. Moreover, we provide complete merchant assistance for any needs and demands of the merchants. We are ready with our professional team to tackle any obstacle for payments.
Do remember, an online casino merchant account is a high-risk merchant account. Therefore, you need an expert service provider to cater to every need. We have a complete in-house team to assist your business.
Read another blog : High-Risk Merchant Account Instant Approval Holds a Striking Value
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