Cyprus is an island in the Eastern Mediterranean that has a huge diversified and prosperous economy. It is a place of opportunities for entrepreneurs. Businesses all around the world look forward to having business opportunities in Cyprus. This accumulation from different companies better provides a global environment for businesses. Since Cyprus has a multicultural environment you can easily get people from different nationalities to sustain their business in Cyprus. The country is highly sought as a base for several offshore merchant businesses for its low tax rates.
WebPays delivers prominent credit card processing services to merchants with the prospect of providing easy and flexible payment transactions. We understand that it is difficult for small businesses to set up a merchant account that is highly efficient for business growth. We, on the other hand, intend to analyze the business needs and follow a comprehensive approach in order to provide a merchant account to merchants. While there are thousands of companies, some good and others are not so good. Choosing the right service provider who can provide reasonable services for your business is difficult. High- Risk merchant accounts better serve the need of the business by providing cost-effective payment transaction solutions to merchants.
Offshore Services for Global Reach
There are a majority of businesses who are providing their product or service to the global audience and this is becoming possible with the help of an offshore merchant account accompanying the business. If you are looking for the best credit card processing solution for your business then WebPays is a one-stop solution for your business needs. We have a highly professional team of employees who strive hard to educate you about the industry, inform you about the nominal rates and fees you are expected to pay for the particular services and suggest the services that best suit your business.
Unfortunately, the iGaming industry is considered as High- Risk
Because the industry operates in a legal grey area, online gaming and gambling are risky. Despite the fact that there are no federal laws that criminalise online gambling, the Unlawful Internet Gambling Enforcement Act of 2006 states that no person or entity may knowingly accept funds associated with someone who is engaged in illegal online gambling.
Casinos and online gaming companies have a higher volume turnover and are more prone to chargebacks and refunds. In addition, there are a lot of polite scams in online gambling. Customers who have changed their minds about a transaction file a dispute.
Many online gambling companies are based offshore, and money laundering and fraud have been reported. When it comes to unnecessary chargebacks, processors have to take it or leave it stance.
When companies cannot maintain low chargeback ratios, credit card processors are quick to terminate casino and online gaming merchant accounts. Providers of merchant accounts do not want to be held liable for funds that casinos and online gaming companies are unable to cover.
Excessive chargebacks can also harm credit card processors’ relationships with their sponsor banks and credit card brands, such as Visa and American Express.
Getting Payment Gateway for iGaming
Obtaining an online gaming merchant account is the first step in providing consumers with this fantastic experience on an e-commerce platform. It will enable you to accept credit and debit card payments online. Online casino and gaming merchant accounts tend to have a lot of revenue and profit potential.
Most merchant account providers are wary of casino/gaming merchants, because they are not only high risk, but also, have the potential to cause problems in the future with high volume sales, potential chargebacks, refunds, and frauds, among other things. WebPays is a merchant account provider that specialises in igaming and casino merchant accounts.
Credit card processors who continue to process purchases for businesses with high chargeback ratios may be fined by credit card companies. Credit card processors’ profits from a casino and online gaming merchant accounts aren’t enough to justify jeopardizing their relationships or risking large fines.
The best gaming, gambling, and betting merchant account options.
Casinos, social gaming, digital games, mobile gambling, app-based games, and other gaming sectors are all covered by a good gaming merchant account provider. WebPays provides options for all types of gaming companies.
We will set up a casino merchant account for you, as well as a fantasy sports merchant account and others merchant account that is appropriate for your company’s custom solutions. We assist you in obtaining s needs. We specialise in high-risk industries, such as the gaming industry, and we know what it takes to run a successful online business.