Gambling Is All Around The World! Have an eCheck Processing Solution To Accept Deposits For Gamble
Due to the advancement in technology, the trust of the people in the online world is increasing incredibly, and so is online Gambling. The global online gambling industry is anticipated to be estimated at more than 94 billion U.S. dollars by 2024. The value is going to be double as compared to today’s market value which is 46 billion U.S. dollars as per Statista. If we see the giant country in Gambling, the USA and China are at the top of the list. Gambling is a sickness, a disease, addiction or insanity for youngsters which can be seen as a profitable business to start. Are you a merchant having your own gambling website or a store to offer people to come and gamble? If so, then it’s time to print money because it’s a money minting business. But to accept money, you need to have a robust, secure means of payment acceptance, and so we offer you with eCheck Gambling. eChecks are the very popular means of payment acceptance method in the USA, Canada and Europe.
We have partnered processors from the USA, Canada, European Union and other nations to provide top of the line solutions for progressive merchants! Stay tuned to know how merchants accept payment via echeck and some Frequently Asked Questions that may help you to get started.
What Is Gambling And Why A Merchant Need An eCheck Solution?
The Gambling is any game in which you risk your real money in the hope that you win the game. If the person wins the game, he wins the money, or if the person loses the game, he loses all the money he has put in the risk. The larger the money you risk, the more you earn. This is the most attractive and exciting factor to the youngster, and hence people gamble and risk their money in hope to earn large. A few game people like to gamble are:
- Casino games
- Card games or poker, Blackjack etc.
- Sports betting.
- Betting on billiards or pool
- Internet gambling
- Dice and lot more.
As it is well known that to gamble, a customer has to make a deposit first, then he is allowed to play. If you are a merchant offering gambling games to your customer, you need a payment acceptance method. Here comes the need of eCheck Gambling. eCheck is a payment processing solution that helps the merchant to take a deposit from customers no matter whether you have a gambling store or online website. eCheck equally works for both your store and as well as the website.
How A Merchant Accept A Deposit From Customer Using eChecks
To accept money is nothing like a big mountain of work. You just need an eCheck gambling Solution to process eChecks.A merchant can accept payments either online through his website or in his retail gambling store.
- The customer came to your gambling counter at your store or at your website to play games.
- To start Gambling, the customer first has to make a deposit.
- If the customer is at your store, take his bank account number, bank routing number and bank name and key-in the details into the terminal provided to you by the processor or acquiring bank to initiate the payment.
- If the customer is playing to you through your website, he fills in the details into the online payment form and authorizes it.
- Once the payment is authorized by the customer, the bank will then issue an eCheck to the gambling store.
- The funds will appear in the customer’s gamble account balance within 1-3 working days.
- A merchant can also accept payment from the customer over the phone and key-in the details into the virtual terminal, and the phone conversation will act as authorization by the customer.
eCheck Online Gambling FAQ
- Are eCheck And EFT The Same?
No, eCheck and EFT are not the same, but eCheck is a type of Electronic Fund Transfer. EFT is a payment method which encompasses many payment instruments like eCheck, ACH, wire transfer and more. eCheck uses the ACH(Automated clearing House ) network to get processed.
- Is eCheck Available In the USA, Canada and Europe?
Yes, the eCheck solution is available in the USA, Canada and Europe, but there are different regulations and laws that are liable to process eCheck transactions.
- Are eCheck Safe As Compared To Credit Card Processing?
Yes, echeck is one of the safest modes of online transaction because it gets processed directly through the bank, and it uses SSL to encrypt the transactional data. Apart from this, it uses cutting-edge detection systems and firewalls to process the transaction securely.
- Are eCheck A Fast Way To Accept Money?
Yes, eChecks are faster than traditional or physical checks. But as compared to credit card processing, it is not much fast because it usually takes 2-5 business days to get the amount settled.
- How Are eCheck And Wire Transfer Different?
There is not a big difference between the two. In fact, both are a type of Electronic Fund Transfer(EFT). The difference between the two is their transfer limit and processing time. The transfer limit of a wire transfer is more as compared to that of echeck and the processing time of echeck is less, compared to wire transfer. An echeck usually takes 1-3 business days to process whereas a wire transfer can take up to a week to get settled.
- How Does A Merchant Get An eCheck Processing Solution?
Getting an eCheck processing solution is simple and straightforward. You need to approach a processor, and that’s it. We at Quadrapay, have made this task easy for you. We have partnered with global processors to help merchants with any kind of payment solution they need. Get started with us by feeling the pre-approval form onto our site, and we will get back to you with the best solution that fits your business needs.
Feel free to ask us any of your queries.
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