Online Gambling Payment Gateway
Gambling has been a popular pastime in Hungary for many years. According to a survey conducted by the Hungarian Central Statistical Office, approximately 60% of the Hungarian population engages in some form of gambling. This includes both traditional forms of gambling, such as lottery games and sports betting, as well as online gambling. In terms of online gambling, a report by H2 Gambling Capital estimates that the Hungarian online gambling market generated approximately €239 million in revenue in 2020. This represents a significant increase from previous years and is expected to continue to grow in the coming years. But the new amendment enforced on 01 January 2023 in the gambling sector brought happiness to the faces of Hungarian business owners as it knocked down the monopoly of state-owned companies allowing private partners to take part in acquiring a license. However, the rise of online gambling has presented new challenges, particularly in terms of payment processing.
To eradicate these challenges WebPays, the best online gambling payment processor in Europe, vowed to serve the Hungarian business by providing the finest services. Online gambling payment gateway and merchant accounts are two key components of the online gambling industry that facilitate the processing of payments for online gambling services.
What are the Online Gambling Payment Gateway and Merchant Accounts?
A gambling payment gateway is a technology that allows online businesses to accept and process payments made by customers using credit cards, debit cards, cryptocurrencies, wire transfers, and other electronic payment methods. Payment gateways connect the online gambling website to the payment network, which enables the secure transfer of funds from the customer's account to the merchant's account.
On the other hand, a merchant account is a type of bank account that allows online businesses, including online gambling websites, to accept payments from customers. Merchant accounts are typically provided by payment processors or banks and are used to process credit and debit card transactions.
For online gambling businesses, it is important to have a merchant account that is specifically tailored to the needs of the industry. Due to the high-risk nature of online gambling, many banks and payment processors are hesitant to provide merchant accounts to online gambling businesses. However, there are specialized payment processors, such as WebPays, that focus on providing merchant accounts to online gambling businesses. They can help them manage their payment processing needs and minimize the risk of fraud and chargebacks.
What Features a Payment Processor Should Provide in its Online Gambling Payment Gateway?
A reliable & trustworthy processor should offer as many features as possible; some of the important ones are mentioned below:
- Security: To ensure the protection of players' & merchants' financial information, it must be safe and compliant with the most recent security requirements.
- Transaction processing speed: It should move swiftly, enabling gamers to immediately deposit money into their accounts and withdraw it as well.
- Alternative payment methods: To accommodate the various payment preferences of players, it should support as many alternative payment ways as feasible, such as credit/debit cards, e-wallets, cryptocurrencies, and bank transfers.
- Multilingual support: To accommodate gamers from various regions of Europe and the world, it should support a variety of languages.
- Fees: The prices for the services offered by various payment gateway providers vary. Be sure the provider you pick has fair prices and competitive rates.
- Reputation: At the point of service, a PSP's standing in online gambling matters. Search for companies that have been around for a while and have a history of offering trustworthy and secure payment solutions.
- Constant client support: To help its merchant with any payment-related concerns, a gaming payment gateway provider should provide round-the-clock customer service.
Advantages of Acquiring WebPays as your Payment Partner
We have hundreds of features that are only created to make your business grow. Some of them are mentioned in the below image:
Conclusion
Recent amendments brought competition to the online gambling market in Hungary. As per the experts, it will surely help increase the online gambling market size in Hungary. For sure many business owners are starting their online gambling business. To take online payments from customers, they will need to acquire a payment processor that can provide a payment gateway as well as a merchant account. We suggest you choose, WebPays as your payment partner because it has a number of features that are created to grow your revenue. Visit us at https://webpays.com/.
About WebPays
We are experts in the payments industry who build secure payment solutions and offer constant support to assist you in boosting your sales. WebPays aims to be the first choice for merchants when they require payment solutions. We provide the most reliable and trustworthy payment solutions to help your business grow. We expand the clientele of your business and take care of a lot more.
What do other Payment Solutions WebPays offer?
We are experts in high-risk payment solutions. To high-risk merchants, we provide all high-risk payment solutions. We have created a number of merchant accounts and payment gateways according to the industry's requirements in order to give you the finest service possible. The other payment solutions are-:
| Casino Merchant Account | IPTV Merchant Account |
| Gambling Merchant Account | Forex Merchant Account |
| Escort Merchant Account | Adult Toys Merchant Account |
| E-Cigarettes Merchant Account | Tobacco Merchant Account |
How to apply?
Click on Apply Now and complete the form. Our team will contact you for additional requirements. Please have the following documents available so that your application can be processed quickly:
- Complete details of business
- Website or App of your business
- Contact Information, such as email, phone number, and address
- Details of business owner
- Address proof of owner and business
- Documents of business partnership
- Last three months’ business bank statement