QuadraPay offers low cost fantasy sports credit card processing.
A fantasy sports merchant account is a specialized credit card processing account for businesses operating in the online fantasy sports industry. With a fantasy sports merchant account, fantasy sports companies can accept credit card payments from users for services like entry fees, league dues, or merchandise purchases.
In fantasy sports, users create virtual teams of real athletes. These teams then compete based on the performance of those athletes in real-world games. Our credit card processing solutions are suitable for most types of fantasy sports, including fantasy football, fantasy basketball, fantasy baseball, fantasy hockey, fantasy league, and fantasy soccer.
Fantasy sports merchants have specific requirements when it comes to accepting online payments. Merchants need to have a hassle-free payment solution for themselves as well as their users. The payment solution must offer the ability to accept various payment methods, including alternative payment methods and cryptocurrencies, as the customer base of any international fantasy sports company is very diverse. Along with that, it is also important for merchants to accept payments in multiple currencies because of the international user base.
Smooth fantasy sports credit card processing is extremely important for merchants as it improves customer satisfaction, whether it is for depositing funds or receiving payouts for prizes. It is important to have a highly dependable fantasy sports credit card processing. The global nature of transactions in the fantasy sports industry makes it highly susceptible to fraudulent transactions and chargebacks, and that is why it is extremely important for the payment solution to be highly secure and fully adhere to the best payment industry standards. By implementing fraud filters, chargeback management services, and other risk reduction tools, payment processors can truly help fantasy sports businesses provide a wonderful, user-friendly payment experience to game participants.
QuadraPay fully supports fantasy sports merchants with offshore and domestic credit card processing solutions. Our solutions encompass merchant accounts and payment gateways for fantasy sports in multiple countries across North America, Latin America, Asia, Europe, and Africa.
Getting a fantasy sports merchant account is easy with QuadraPay. Initiate the process by filling out the short form on this website. Subsequently, we will contact you and request additional documents related to fantasy sports business operations. The approval timeframe typically ranges from 2 to 7 days.
QuadraPay is well-regarded for high-risk payment processing solutions for fantasy sports. With over 7 years of experience assisting high-risk fantasy sports merchants, our partner providers implement advanced fraud prevention methods to ensure peace of mind for merchants. QuadraPay offers comprehensive payment services. Our extensive relationships with various payment processors across different continents make us one of the best choices when seeking approval for a fantasy sports credit card processing.
Popular payment methods for Fantasy sports credit card processing.
While many industries may only use credit and debit card payments, this is not the case for fantasy sports merchants. These businesses require the ability to accept various payment methods, including alternative methods popular in geographically dispersed countries. The purpose extends beyond accepting payments, as these merchants also need to disburse funds to users who win prizes. Here are some essential payment methods for international fantasy sports merchants:
Credit and Debit Card Processing: These are the most commonly used payment methods in the fantasy sports industry, primarily for deposits into user accounts or paying joining fees.
Alternative Payment Methods: Offering additional payment methods can significantly increase overall sales. Methods like e-wallets, bank transfers, and alternative payment methods (APMs) cater to a broader audience.
Mobile Payment Terminals: If you have a physical location where users make face-to-face payments, mobile payment terminals can help you accept payments in person.
Prepaid Cards: Some users may prefer using prepaid cards for various reasons, such as privacy concerns or specific gaming preferences. Offering the ability to make payments through prepaid cards enhances the flexibility of your payment options.
In-App Purchases with a Mobile SDK Solution: For fantasy sports mobile applications, integrating a payment processing solution with a mobile software development kit (SDK) is crucial. This ensures a better payment experience for users within the fantasy sports mobile app.
It is highly important to have a full-featured payment processing solution that accommodates a variety of payment methods. With a diverse range of payment options, your customers will enjoy a better user experience, leading to increased participation and enhanced profits for your fantasy sports business.
Merchant Classification Code for Fantasy Sports Websites and Mobile Apps.
The processing company chooses the appropriate code after analyzing the business model and taking other relevant factors into account. The MCC can have a significant impact on transaction rates. For fantasy sports that have a game of chance element, MCC 7995 is relevant. However, in jurisdictions where fantasy sports are not considered gambling, MCC 5816 may also be an option.
KYC requirements for fantasy league merchant account.
For a fantasy sports merchant account, having some processing history is essential. While attempting to secure approval for a startup merchant account is possible, having a processing history significantly improves the chances of obtaining favorable results. Merchants with a chargeback ratio of less than 1% experience a considerably higher account approval ratio.
To initiate the application process for a fantasy sports merchant account, you need to submit personal and business documents. This typically includes the business license, confirming your company’s legal entity. Additionally, you must provide copies of the identification proof for all business owners and directors. Utility bills for the company and directors are also expected. A domain registration certificate is required to verify ownership of the domain. If any additional documentation is necessary, we will inform you accordingly.
Fantasy Sports Merchant Processing FAQ
What is Fantasy sports?
Fantasy sports are highly engaging online games where participants become virtual team owners. In a fantasy sports game, the manager decides the members of the team, and these members are real-life athletes from various sports like cricket, football, and baseball. The goal of the team owner or manager is to select athletes with the highest possibility of performing well in actual sporting events. In fantasy sports, multiple teams compete with each other, creating an exciting experience that mirrors real-world sporting events.
To enhance the gaming experience, participants track the real-time statistics of players on their fantasy teams during actual games. Points are awarded based on various factors, including goals scored, runs, catches, sixes, touchdowns, and more. Depending on the type of game, the parameters for earning points may vary. The team that accumulates the most points emerges as the final winner of the fantasy sports game. Fantasy sports offer a perfect combination of real-world sports and digital gaming.
Fantasy sports provide an advanced immersive experience as participants transform from passive spectators into active team managers with a stake in the game. It’s important to note that the success of a fantasy team depends not only on the performance of real-life athletes but also on how well the manager implements strategies in the game.
Does QuadraPay also provide merchant accounts for sports clubs and sports businesses?
Traditional sports are becoming more advanced now. With the availability of social media and internet marketing, selling sports event tickets and products is a lot easier now. Large organizations and companies sponsor various teams for different events. It has created a massive market for people involved in the sports industry.
No matter what role the business plays, it must accept payments easily. Quadrapay offers payment processing solutions for sports businesses. These solutions enable sports businesses to receive credit card, debit card, and direct debit payments online and at retail locations.
What are the estimated approval timelines for fantasy sports merchant accounts?
For domestic fantasy sports merchant accounts, the approval process may take up to 7 days. However, if you are applying for an offshore fantasy sports merchant account, the approval timeframe can range between 5 to 10 days.
How does QuadraPay stand out from traditional banks and PSPs when it comes to offering fantasy sports merchant accounts?
While traditional banks and PSPs may be limited to just a few acquiring channels, we have over 50 payment solution providers. This means our customers have a better chance of getting approval and getting more competitive rates for payment processing. Additionally, our processing partners primarily handle in-house underwriting, saving both time and middleman costs.
QuadraPay for perfect fantasy sports merchant services. Apply Now.
QuadraPay is your best resource for fantasy sports merchant accounts. Our solutions offer advanced fraud and chargeback prevention software, a large network of processing partners for low fees, and high success rates. Our fantasy merchant account solution supports up to 100 currencies and payment methods. Apply today to take advantage of low-cost fantasy football credit card processing.
