Why merchant account is important for online gaming?
Merchant accounts are provided specifically to control the functioning of your e-commerce websites or websites that accept online payments, one of which is online gaming. Online gaming is on top of the competition these days, as just one online stream can earn you millions in a matter of hours. Isn’t this amazing?
Companies providing such services need protection from online threats like – online scammers, cyber bullies, credit card fraudsters, and more. Those online gaming merchants are completely dependent on payment service providers for such facilities.
But some fraudsters only take advantage of innocent investors and safety is not even guaranteed. They won’t even contact you after getting the money. Highriskgateways.in is working in this industry for more than 9+ years and we also have experience of providing best facilities which you can never imagine. Online gaming merchants definitely need a High-Risk Merchant Account to conduct every activity on their website.
How does the Online Gaming Merchant Account work?
Online Gaming Merchant Account is a specially customized merchant account for traders who are prone to high risk appetite. Not every online gaming platform can be considered high risk, as your area, the volume of your company and the risks it attracts make you a high risk brand.
Now, if you are running an online gaming website, you need to maintain a record per purchase transaction, and this is impossible with a local merchant account. Online Gaming Merchant Accounts can allow the user to receive their payments in any currency, making it easier for them to settle their business quickly and maintain records.
Alternative payment methods
Many service providers will not provide you with many options to receive your payment, but here you have the ability to accept payment in alternative modes of payment such as e-cheque, NFT, debit card and PayPal. With this feature gamers will be at ease when they are paying for additional equipment in the game, they can easily change their payment method when a mod refuses. Isn’t it hassle free?
This merchant account is operated without any hassle with only your merchant ID and password. You do not need to set up additional locations to get updated with your daily transaction records.
Credit card acceptance
You are dealing with a wide range of global regions where the most commonly accepted payment mode is credit card payment. Credit cards can be used for a variety of reasons, such as the special offers it offers on multiple deals, or the convenience of EMIs. You will be able to accept credit card payments from this merchant account. HRG provide the best high-risk payment gateway solution for all the high risk businesses.
This merchant account comes with a powerful payment processor that provides enough speed to process those credit card transactions in less than a day. There are a total of six members working to complete the process and they are dependent on each other’s work, but the two main members are the card association and the payment processor. Where the payment processor initiates the process by informing each of them about the transaction and the card association keeps all the members in sync.
Supported by several banks
This merchant account is backed by multiple acquiring banks, so you need not worry about payment related issues like payment failure, payment stuck, and payment delay. This will also reduce the chances of chargeback.
24-hour live reporting
You can have 24*7 live reporting facilities with this merchant account’s live reporting system which enables you to be updated with your transactions every time a transaction takes place.
Global card saving
You can have Global card saving facility which will allow your customers to save their cards on your website so that they do not need to repeat that step again next time. This will provide them the facility of faster check-in.
PCI DSS Protection
This account is PCI DSS certified, which keeps the customer’s sensitive information end-to-end encrypted, so that the rules and regulations related to customer’s right are not violated. Any website that is certified with PCI DSS is undoubtedly a secure website because its certification is not given to any website at all. PCI DSS asks for a number of proofs that can assure your reliability. You can contact our customer support to learn about these securities.
Charges of an Online Gaming Merchant Account
Fees may vary at the discretion of different acquiring banks. These are not fixed. This fee may also depend on your business area, volume per month, risk level of your business, capital of your business and many other factors.
The rate shall not exceed a maximum of 3-10% of the maximum. If your monthly turnover is more than expected then you will get some relief on the pricing.
How to posses your own Online Gaming Merchant Account?
Online gaming is also considered a high-risk category as it can lead to severe trauma, the potential for online fraud, multiple chargeback, and more. You need this merchant account because you need a perfect solution to overcome such issues. You can follow these steps to apply for this merchant account.
1 – You can directly mail us at info@Highriskgateways.in and when we receive your mail our customer executive will get in touch with you at the earliest.
2 – When our Customer Executive finds out that you are eligible for this Merchant Account, you will receive a mail announcing the process to obtain this Merchant Account.
For eligibility test you need to provide us with following documents
1 – You must match with the elaboration for being a high-risk merchant as well.
2 – KYC / KYB
3 – Company registration
4 – Domain name
5 – Address proof of owner / utility bill.
6 – Previous 3 months transaction history with previous service provider.
7 – Our application form
8 – Memorandum of association / Memorandum of understandings.
9 – Your website should be already live.
– We can demand AML for safety reasons.
– We’ll use Google research tool for fraudulent analysis
– We’ll issue an internal underwriter to finds the suitable banks for your business.
– We will share that information with you when the bank delivers the final results and pricing within the mail.
– After that you can take a final decision with your board of directors and let us know.
– After that we will consider your acceptance and provide you a unique Merchant ID and Password with the help of which you can easily access it globally without any interruption.
– The acquiring bank will send a few assistants to setup your account and perform the final integration.
– After that you can easily start your work.
Highriskgateways.in is working in this industry since 9 years and met many merchants who had faced difficulty in dealing with their customers with the help of their previous service providers’ services. They got customized merchant services as per their business module after signing a contract with us. With the pairing of a customized merchant account and a powerful payment processor they upgraded their service quality to a whole different level. Those facilities can be in your budget too. You can read about our other services in the Blog section of our website or you can contact us through the details below.
The best things in life are free” it is an old saying but a fact. You might be thinking of the above statement “Is it really true?”, Certainly this fact is a truth we have got endless breathing that is free, we have our eyes to see, our ears to listen, our damn human body part that is all a blessing. As far as online gaming is concerned we have been provided with access to the internet. And all games are online today. The online gaming has become popular due to the factor of accessibility of the Internet. They are not very far from the click of a button on the desktop sitting in your room. Hit the search bar option for getting the thousands for results for online gaming and you can easily select any of your favourite game. The online gaming industry is a high-risk industry that may have various risk involved with it. There are many online games such as Casino, Gambling, Online Satta and various other games that involve multiple financial transactions. More financial transactions in business would call for more risk. Greater the risk, the more protection is required for securing the money. Hence, online merchants need to secure their money from internet frauds and data breaches. There are service providers that can help you protect your money. They will charge some fees for it. We at HRG provide you with the Online Gaming Merchant Account that will associate with your gaming business and help you by providing smooth and flexible payment transactions.
Online gaming has gained a strong online reputation in the market. It has also been successful in making its digital footprint in the entertainment industry. An online survey shows that there are 628 million gamers in India only that is providing a new boost to the gaming ecosystem in the Indian economy. Online gaming websites have greatly influenced the people lives. According to research conducted for online users predicts that over 217 million people who are using internet visit the online game site. They find these games interactive hence spend quality time playing with them. Apart from offering an online opportunity to play these games, these websites also offer other benefits such as boosting memory and developing cognitive skills. Since it is a high-risk industry so it involves higher chargebacks. Higher chargebacks would mean that you will have more customers that have lost interest in your product or service. Hence, chargebacks need to be as low as possible. It should be under 2%. Get a payment gateway that will allow you to have the right payment transaction.
The risk involved with Online Gaming
Though there are several risks associated with this industry. You may have the risk to lose your targeted audience, you may defame your online reputation by providing invaluable services, and you may catch up with some serious cybercrime engineer. There are many risks in running a business. You need to have the courage to tackle all these threats. We at HRG will help you get the Online Gaming Merchant Account that will allow you to safeguard your business transaction by providing a safe and secure payment transaction.
– A computer virus may technically impact your gaming. It may come from an email attachment or a messenger. In most of the scenarios, these threats are hidden in the software programs that may come to your computer and can provide harm to your system.
– Since online gaming can present you with some serious threats, it can make your gaming experience vulnerable if the game has a bug and your system is not able to fulfil the requirements. Still, you will be able to play the game but certainly, you will not be able to enjoy it.
– People may infect your system by sending virus and worms; they may release some malicious software in your computer operating system. These frauds can take the advantage of the social network to attract you to their bogus website or sometime they may want you to open the email containing the software that will automatically install on your system once you click on that e-mail.
An efficient service provider can provide you with the required payment gateway that will help you with managing your business transactions.
HRG is one of the leading payment processor service providers that will provide you with resources to carry out efficient payment transaction for your business. We have an outstanding experience of providing efficient payment transaction to clients all over the world. Our experts strive hard to provide you with the result required as per the needs of your business. We deal in providing different range of services that involves Payment Gateway, Merchant account services, multiple currency options, a different mode of payment option etc. We intend to provide you with the Online Gaming Merchant Account that will allow you to have higher business growth.