While gambling rules remain rigorous, an increasing number of financial services firms are eager to collaborate with the gaming and gambling businesses. The gambling business is always expanding, and recent reforms in the United States have paved the way for expanded legality.
While the internet gaming business continues to grow at a breakneck pace, financial networks are not keeping up. The majority of payment processors and merchant acquirers will reject any gaming or gambling merchant account.
But don’t you worry! Paypound Gaming Merchant Account is the easy-to-use, secure online gaming merchant account that you need for your gaming business.
Why is an online gambling merchant account considered a high-risk transaction?
The majority of acquiring banks consider digital gambling to be high-risk for the following reasons:
- High turnover of goods- Typically, digital gaming enterprises generate a huge volume of revenue. The great majority of institutions who extend them a credit line view this as a high-risk factor.
- Intangible asset- Intangible products expose you to a greater risk of chargebacks and refunds. With the tiny transaction values associated with digital gaming, the chargeback rate may prove fatal to the business’s success.
- Laundering of funds- Gaming companies are frequently located offshore. Money laundering and fraud have previously been documented. This immediately raises banks’ concerns.
- No processing history- Due to the niche’s quick expansion, a rising number of new merchants are attempting to enter. Despite having sufficient capital for a fresh start, they continue to suffer rejection from banks due to their lack of processing history, and thus, it is regarded as high-risk and frequently results in a decrease.
Internationally, online gambling is outlawed in a number of nations. Paypound will connect you to the widest possible number of open markets via a variety of financial alternatives. Our team of professionals collaborates closely with Paypound’s banking partners to ensure you get the best deal possible with the acquiring institutions.
Paypound, as a payment processor based in the European Union, has developed a sizable network of banks and financial partners. As a result, we are able to provide gaming merchant accounts and payment processing services.
Numerous Gambling Licenses Accepted:
Fees are estimated based on a variety of parameters, including processing history, sales method, open countries, volume of purchases, and chargeback percentage. Each merchant account is unique and tailored to the specific needs of your business. With the following licences, we assist online gambling businesses:
- European Gambling License
- Malta Gambling License
- Curacao Gambling License
- UK Gambling License
- Gibraltar Gambling License
- Isle of Man Gambling License
Alternative Payment Methods Are Accepted
Numerous gambling establishments require different payment methods in order to expand their customer base and retain existing consumers. Paypound accepts payment using a variety of different ways, including Klarna, iDEAL, Giropay, Alipay, and local bank transfers. Alternative payment methods are considered on an individual basis.
Bank account for organisations engaged in eGaming — online casino gaming:
Paypound also assists eGaming – Online Casino enterprises in Europe with obtaining bank accounts. We will identify the most appropriate banking solution for your business based on your operations and requirements. It makes no difference if your business is a start-up or well-established in the sector; we will work with you to find the best bank account for your needs.
Merchants in the gaming and gambling sectors require the assistance of a payment processor such as Paypound. With a strong EU banking network and a comprehensive offshore banking network, retailers have a plethora of payment choices.
Paypound delivers dependable solutions for online casino games and social network gaming!
Merchants may build their operations with the help of our payment gateway and fraud prevention. By assisting merchants with transaction management and combating online fraud, retailers may save time and money on these issues. Several advantages of cooperating with Paypound.
Getting started is a quick and straightforward procedure. Gaming merchants can begin accepting payments in as little as 24 hours with a complete application package. Merchants will have no difficulty integrating or operating a payment gateway with an easy-to-manage payment gateway.
TYPES OF GAMING MERCHANT ACCOUNTS ACCEPTED
- Online Casinos
- Online Poker
- Online Bingo
- Mobile Gambling
- Mobile Gaming
- Horse Racing
- Social Gaming
Merchants who have had issues with previous Gaming payment processor services, such as application denials or account terminations, are encouraged to apply with Paypound. Our gambling industry partners come from both domestic and international areas. Our extensive banking network enables us to collaborate with a variety of gaming firms.
Additionally, we can assist clients that have a history of high return rates, chargebacks, or poor credit. While the gambling industry has a reputation for fraud and other chargeback issues, Paypound can accommodate the majority of enterprises.
If you operate an online casino, gaming competition, or lotto and are constantly on the lookout for a merchant account for your business, Paypound is your one-of-a-kind option. Paypound assures that you will be authorized for the lowest-fee merchant account on the market. Paypound will also give you a payment gateway that is immediately ready to integrate with your merchant account, saving you time from having to integrate it separately.
To read more about Gaming Merchant Accounts, click here.