When we get an inquiry for an internet gaming merchant accounts (as in media gaming rather than gambling), the retailer is often confused and surprised that his industry is seen as significant risk by acquiring banks. It takes a couple of minutes of explaining, but any confusion soon turns to perfect sense to the retailer.
Many retailers across many businesses often don’t fully understand what’s involved when described as a high risk enterprise. Simply, it may be a range of things, like working at a card-not-present (CNP) environment compared to point-of-sale (where the credit card is present at the time of purchase); a high rate of chargebacks, higher volume concerns and health problems among other elements. Each variable causes getting banks to put up their guard.
5 Reasons Online Gambling
When contemplating the risks involved with online gaming merchant account setup companies — media gambling, not gaming — we could understand a retailer’s surprise. As a payment processor for high risk businesses, there’s often a level of educating involved. In actuality, we welcome it. Thus, here are five cases Which Make an Internet gaming merchant accounts high risk:
The Card And Cardholder Are Not Current
Since the dawn of e-commerce, if the credit card isn’t present at the point of sale at the time of sale, an acquiring bank will consider your company high risk. In card-not-present (CNP) scenarios, the risk of fraud increases exponentially, beginning with how the cardholder is not there to sign for the purchase.