Gambling Merchant Accounts powered By Tier 1 Acquiring Companies.
Quadrapay is happy to announce that our highly recognised payment processing partners in the EU offer legal Gambling merchant accounts with hassle-free pay-in and pay-out experience that will help you lead the competition.
Grandview Research projects that the Online gambling market will grow at a CAGR of 11.5% from 2020 to 2027 in North America, Europe, Lac, Apac and MEA. Mordor Intelligence states that the online betting sector is one of the fastest-growing segment in its online gambling market research. The report also highlights the increasing percentage of the female population. Covid 19 impact has also been considered a factor in the growth of the online gambling industry. With all these positive reports about the game of chance industry trends, we can say that you are in the most happening sector of our times. Our Credit card processing solutions are Gung-ho about the industry and are passionately looking forward to assisting legal gambling merchants.
Key Features Of Our Gambling Merchant Account Solutions.
- Integrated Payment Gateway and Acquiring Solution For Gambling Merchants. Our solutions offer a one-stop package for young and experienced gambling merchants. The answer comes with a robust yet flexible gateway and high quality acquiring services. High-profile gambling merchants love this solution and enjoy the benefits for a very long time. With a dedicated account manager, onboarding is quick and easy. Legal Gambling operators require speedy payment processing that does not reduce the overall gambling enthusiasm; with high-quality data centre support, our solutions guarantee one of the best uptime availability for payment acceptance.
- Multiple Currency Processing For International Gambling Merchants. Online gambling is an international vertical need a gateway that can accept the various currency. We provide you with multiple payment processing platforms. You can collect payment from most nations that too in the desired currency.
- Free Account Setup. Free setup and this is not special or for a limited time, nor it has an expiration date. We won’t charge you fees to design your account as we understand the criticality of the starting phase of the business. The PSP may charge or waive a high-risk merchant registration fee.
- Advanced Fraud Reduction Tools. Our solutions have leading fraud prevention tools. These solutions provide early alerts for the chargebacks also if you subscribe to CDRN services.
- 24*7 Technical Support. No matter what time we got you with the all-time support. You can experience professional customer service on all online payment related issues. We are here to help you out and would be glad to solve all your queries.
- Fast Approval Within 48 Hours*. Our online application has been developed with ease and simplicity in mind, not complicated, like others.
- Realtime Reporting Tools. Transparency about all the payments ng being made and about the withdrawals and deposit of money. We are to help you in the best possible way to grow your business keeping in mind that whatever transactions are being made should be in front of you, and you should have all the details about it.
- OCT For Expanded Pay-in, Payout Solution. We understand the deposits and withdrawals are the lifeblood of this industry. This is why our solutions offer near-realtime OCT in a fast, secure, and simple way. Merchants get to elevate the percentage of loyal customers if the pay-in and payout modes are fast and effective. From a players point of view, withdrawal is most important, and from a gambling operators point of view, the deposit is vital. Our solution takes care of both like a charm. The solution offers a resistance-free payment experience to gaming verticals.
- Local Payment Options. Only offering credit and debit card processing is not enough for this vertical. World-renowned sports betting and online gambling companies understand this well, and so does our solution provider. With local payment options, gambling and sports betting, merchants offer additional payment modes to players for easy deposits. Some gambling regulators allow gambling activities to be provided by licenced gambling companies. However, they restrict the use of credit cards. In these instances, merchants must work with a provider that offers alternative and local payment methods. These include.
- Debit Card Payments For Gambling. The industry has realised that the risk is generally higher when the payments are made using a line of credit offered by card-issuing banks. Debit card payments are much safer alternatives for gambling merchants.
- ACH Bank Transfer For Gambling deposits. Players can use alternative modes to deposit funds. ACH for gambling can be used efficiently to offer a seamless paying and payout experience. Realtime notification helps gambling merchants to keep track of transactions quickly. Ach works perfectly for one time and recurring payments that are a dire need of gambling merchants. ACH is primarily used for Cashout winning, Pari-mutuel wagering, Fantasy sports, Race tracks, Account funding and Skill-based gaming.
- Gambling Payments Through E-Wallets. According to regulations in a few nations, merchants must be aware that e-wallets may also be restricted to accepting credit cards loads. Still, this can be considered the most common alternative mode of deposit load.
- AI-Driven Fraud Identification Suite Reduces Risk On Gambling Accounts. With the advanced built-in algorithm, the system implements protocols to identify risky transactions, reduce merchants’ loss, and ensure the payment ecosystem’s hygiene.
- Open To Growing And Establishing Gambling Operators. We believe that the growth of any industry depends on the collaborative efforts of merchants of all size. Our solutions are not biased and are open to startup and grown organisations.
- Pan-European Acquiring Platform. Merchants from most nations in the EU and EEA are open apply for our solutions. Since our acquiring partner is based in The EU, it is accessible to merchants from most EU and EEA nations.
- Advanced Chargeback Management Tools. Chargebacks are a headache in any industry, but with various risk reduction filter and AI-driven fraud detection, the merchants experience a lesser percentage of these cases. If the disputes are elevated to the chargeback stage, then the built-in chargeback management tools help gambling merchants manage the chargebacks efficiently.
Sub Verticals In Gambling Industry That May Use Our Merchant Account Solutions
Every application approval is done on a case by case basis and is dependent on various factors. Some of the critical factors are the merchant registration nation, target markets, and gambling licence type. These are the few sub-sectors that mostly qualify for top class payment solutions. Please note that our solutions are only for licenced merchants.
- Simulated Gambling
- Real Gambling
- Paid Contests
- Sports Betting
- Social Betting
- Football Stock Exchanges
- International Leagues
- Private Leagues
- Online Casinos
- Online Poker
- Mobile Gambling
- Betting Platforms
- online Sports Book
- Gaming Focussed Ewallets
- Sports Betting Offline Platforms
- Online Horse Racing Tips
- Online Casino
- Lottery Tickets
- Casino Gaming Chips
- Off-Track Betting
- Wagers at Race Tracks
- Football Betting
- Basketball Betting
- Baseball Betting
- Hockey Betting
- Boxing & MMA Betting
- Golf Betting
- Soccer Betting
- Motorsports Betting
- Tennis Betting
- Table Tennis Betting
- Fantasy Matchup Betting
- Cricket Betting
- Speciality Props Betting
- Virtual Sports Betting
- SIMS Sports Simulation Betting
- Casino Gaming
- Sports Betting
- Exchange Betting
- Live Betting
- Live Dealer Casino
- P2P Games Of Chance
- Mobile Gambling
- Mobile Poker Games
- Fantasy sports betting
- Lotto Syndicates
- Lottery Games
- Messenger Lottery
Merchant Classification Codes Related To Gambling And Game Of Chance Verticals.
Depending on the business activity and various other factors not limiting only to the location of the merchant and site of the payers, the acquiring company may use one of the following MCC to gambling and Game of chance merchants.
Online Gambling Game Of Chance And Bin Blocking. With High-Risk Registration.
- BIN Blocking On Gambling Merchant Accounts. Gambling merchants are kept under strict monitoring to reduce credit risk and legal violations. High-risk merchant registration is mandatory in most scenarios. Acquirers are also required to block specific nations traffic if the merchant is classified as a gambling merchant. By default, all traffic from most sanctioned countries are blocked. Please note the list is not exhaustive, nor can it be considered accurate and may change from time to time depending upon the local regulation modification and card scheme/acquirers rule changes. Traffic from the following nations is blocked if the merchant is classified with MCC 7995.
- Czech Republic
- Hong Kong
- United Arab Emirates
- United States
Any Nation where gambling is not legal.
- Card Blocking Based On Gambling MCC. Gambling merchant account providers and acquiring banks have to follow strict guidelines of card schemes. Card brands require developing institutions to use the correct MCC for all merchants. . Specific four-digit MCC or merchant classification codes are used to code gambling merchants. The most prominent MCC used for Gambling and related merchant types is MCC 7995. There are various advantages of coding the merchants correctly, as we all know that gambling is prohibited in multiple nations. Card issuers in specific countries where gambling is forbidden decline transactions based on the merchants MCC. If the acquirer does not code the merchant correctly, it can have severe implications and adversely affect the acquiring company’s stability.
Gambling Merchant Account Services And Associated Fees
The rates and fees are decided on various factors. However, we have tried to display a few of the most common costs a gaming business may have to pay.
- High-Risk Registration. Merchants in this industry are subject to a high-risk merchant registration fee.
- MDR This is a fixed fee paid by the merchant on a percentage basis. This is charged on each transaction.
- Fixed Fee. This is a selected currency amount, usually less than 1 unit or the processing currency. Charged on a per-transaction basis
- Wire Fee. This is the fee that will be deducted when the processor wires funds to the gambling merchant.
- Chargeback Fee. This fee is charged when there is any chargeback on the account.
Gambling And Licence Requirements. A Must Have To Get Merchant Account Solutions
Every gambling merchant requires a relevant licence to accept payments and operate the business. Our Processing partners can not support merchants that offer gambling services and are not registered or have valid gambling licences. Please note that all licences may not be supported. Merchant acquiring companies have strict policies about what licences they will accept and what they will not accept. Let’s look at some gambling licences that are popular in the industry. Each licence may have its restrictions in terms of payment processing traffic and various other factors. After looking at your complete application set, our providers can let you know the final verdict.
- Alderney License
- Antigua And Barbuda License
- Belarus License
- Costa Rica License
- Curacao license
- Georgia Licence
- Gibraltar Licence
- Greece License
- Isle of Man License
- Kahnawake License
- Latvia License
- Malta License
- Montenegro License
- Romania License
- Seychelles License
- Great Britain Licence(UK)
- Belize Licence
- Vanuatu Licence
- Denmark Licence
- Jersey Licence
- Panama Licence
- Philippines Licence
- St. Kitts and Nevis Licence
- Tasmania Licence
- Swedish Licence
- Macau Licence
- Singapore Licence
- France Licence
- Spain Licence
- Bulgaria Licence
- Australia Licence
- Lithuania Licence
- Germany Licence
- Switzerland license
Risk Mitigation Steps Used By Payment Processors For Gambling Merchants
- Mandatory 3D Secure. Acquiring partners may implement 3DS on the first deposit or on all transactions to reduce the risk of fraudulent transactions and deposits.
- Rolling Reserve. To reduce the credit risk, our processing partners may implement a fixed or rolling reserve. This is decided on a case by case basis.
- AML Risk Assessment. Since the industry had many cases of money laundering, our processing partners perform extensive AML risk assessments. This helps ensure that genuine clients get access to the solution, and fraudulent businesses do not get the opportunity to abuse the payment ecosystem.
- Fixed Collaterals/Bank Guarantee. Some merchants may be asked for fixed collaterals and bank guarantee on a case by case basis. This step reduces the credit risk if the gambling merchant goes bankrupt or faces any legal shutdown.
Quadrapay A Reliable Provider Of Merchant Account For Legal Gambling Companies
Quadrapay is the one-stop solution for the payment in your business of online gambling. Our partners provide secure payment processing like a secure online credit card, APM processing while focusing on fraud prevention. We value your business and understand your requirements, so we provide you with the best that can help you grow.
Still, Confused On Your Gambling Merchant Account Provider?
No worries, our staff is always looking forward to solving your queries and satisfying you with answers to the questions you might have about the process. We welcome you to benefit from us in the online legal gambling business.