GBO will offer you assistance with the best merchant account for eGaming business, using its worldwide network of registered, regulated banks and payment processes. Our expertise will help you open up your merchant account for eGaming business and protect it from excessive fraud with its proprietary transactional algorithms that seek out potential chargeback threats before they occur.
We provide better services faster at highly competitive prices, ensuring compliance. GBO also works with clients who have a history of high returns, chargebacks, or bad credit. If you operate an online eGaming business, casino, online bingo, mobile gaming, or in-play gambling, GBO can help you maximize your profits with merchant account for eGaming business.
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eGaming businesses include casinos, bingo, draws, sports betting, poker, skill games, lottery, crypto casinos, and other companies operating with a gaming license. Many banks and financial institutions are reluctant to open merchant accounts for eGaming businesses, and the applicants often face rejections as the businesses are considered high-risk due to higher than average chargebacks, though they are not illegal.
Requirements for online gaming merchant accounts may vary according to your jurisdiction and the type of business. The companies looking to open merchant accounts for eGaming businesses and online casino merchant account face even more legal requirements. But this doesn’t mean that the situation is hopeless.
GBO team would be happy to assist you with the right solutions for your business, including opening the below:
Skype – GBO International Financial Services| GBO will provide you with access to API integrations and analytics data to create a customized checkout page based on the customers’ needs. Our extensive network of partner banks, and an elite portfolio of tailored online payment solutions for the eGaming businesses can help you scale by reducing the risks associated with higher transaction volumes.
Key benefits of opening merchant account for eGaming business with GBO:
Our experts are well-versed with all aspects of the online gaming industry’s unique framework for a business account, its diversified categories, SIC and NAICS codes, and VISA MCC. GBO team partners only with PCI DSS compliant payment gateways that provide data vault for tokenization for the credit card numbers to prevent hackers from accessing your customer data.
We combine our sophisticated GBO expertise with human oversight and review. Our experienced underwriters will ensure that no card brand rules, and other regulations and laws are violated. Our team will ensure that your online gaming business merchant account is compliant and present your business to increase approval and gain credibility.
Opening an Online Casino Merchant Account
Gaming Merchant accounts are essential to all eGaming businesses in order to accept card payments from online players. The eGaming market is considered a high-risk industry and so it is hard for eGaming companies to get approval from merchant account providers. eGaming is considered high-risk due to the high chargeback rates; anti-money laundering issues and fraud, but it is also due to the way that online gaming is so rigidly regulated. Online gaming companies are obliged to comply with national and regional regulations.
Sponsor banks and processors see the high-risk nature of the eGaming industry as a reason to reject applications for eGaming merchant accounts. Some banks won’t even consider accepting eGaming clients while others consider applications case-by-case. For this reason, eGaming companies need to find high-risk payment processors that already provide merchant services to eGaming companies.
In addition to merchant accounts, a gaming company can also try and open an online virtual bank account in Europe as its operational account (for paying suppliers, salaries, outgoing payment to authorities, etc
Understanding Gaming Merchant Account fees
Merchant Account for Online Gaming Companies Fees
The merchant account fees for gambling companies are usually offered as a package including:
Egaming merchant account fees average at about 2%-12% depending on multiple factors including the risk factor; the complexity of the company’s legal structure; location of the target audience (players) and the overall score.
Online Gaming Merchant Account Providers
Online gambling is an ever-growing market that has exploded exponentially over the last few years. It is predicted that the internet paid gambling market will grow even further in coming years. With the increased number of gambling and online paid gaming sites, there is a necessity for quality payment processors to service the industry. It is vital that gaming merchants and platforms choose the right payment solution for their target audience. With the best gambling merchant account provider, your earnings are bound to increase.
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