The world of online gaming is continuously growing, and it does not look to get slow shortly. The gaming market was estimated to be worth $21.1 billion in 2021, and experts expect it to expand by another 2/5% in 2022. The most intriguing element about this prediction is that older generations between the ages of 40 and 60 will account for a substantial portion of that growth.
The success of the gaming industry somewhere goes to technology. With every passing day, technology is getting better.
With these figures, you can imagine the popularity of online gaming. Furthermore, virtual world gaming will undoubtedly become an integral part of our lives in the future, given the current buzz surrounding VR and even the Met averse.
Those who want to invest in the gaming industry must take the steps now as it results in vast profits. The first step is to obtain a merchant account.
Here, in this blog, we discuss the features of merchant accounts in detail. So, let's start.
For online gaming, it is pretty challenging to find payment processing options. It happens because most acquiring banks tend to be game industries run by illegitimate businesses. Also, there is a considerable risk of problems. Due to this reason, most traditional banks do not want to take the risk and do not offer merchant account services to the gaming industry. The regular bank generally avoids unnecessary risks such as chargeback’s, unpaid bills, low credit scores, etc.
So, for gaming merchants, completing their homework before applying for a merchant account is compulsory which will discuss below. Due to the high-risk nature, online gaming merchants face many problems while finding a stable payment processor that fulfils all their business needs and requirements.
Before submitting your application form to obtain an online gaming merchant account, it is essential to keep some crucial points in your mind and follow it seriously. It helps you to approve your gaming merchant account.
Finding the best service provider for high-risk businesses is challenging, but it is not impossible. Some service providers offer you the best possible services at the best rate in the market. WebPays is one such type of service provider that has all-in-one solutions. It means that it offers the best merchant account, payment gateway, and credit card processing.
Let's check the features of the Gaming Merchant Account.
A high-risk merchant account specialized in the gaming industry can accept payments from all over the world. Dynamic currency conversion (DCC) changes the pricing to the user's native currency. The user has a better-tailored experience and senses a stronger bond with the game company.
WebPays completely understand your business value and offer you the same features for your international clients.
Nowadays, every customer like options. If you don't offer the customer a preferable payment option, they can easily switch to some other sites. So, it is essential to have various payment options.
When we talk about WebPays, it offers customers to make payments via credit/debit cards, net banking, e-wallets, mobile payments, and even cryptocurrency.
Gaming industries are well known for attracting many cyber attacks. So, never compromise with the security systems. Ensure that your gaming websites comply with PCI DSS to protect all sensitive information. Along with this, it also has other security tools.
WebPays, cover all the issues related to PCI DSS. It also offers anti-fraud, anti-chargeback tools, reverses recurring, etc.
Very Little Transaction Downtime is essential. The availability of modules during transactions depends heavily on the service provider you selected. Modern acquiring companies maintain high availability servers. It assists merchants in making sure they gather a vast volume of transactions in the shortest amount of time.
WebPays fulfill all these requirements. They completely understand how important transactions are and how any interruption hurts the merchant's ability to make money. We process millions of dollars worth of gaming traffic.
Fast performance is the most crucial element for online gamers, but gaming platforms must also remember the importance of offering a consistent and secure payment experience. Gamers are enthusiastic about utilizing convenient digital payment methods because they make purchasing virtual products simple and hassle-free. Due to this, payments must be a component of the gaming experience rather than a distinct feature.
To accept this payment merchant needs a suitable online gaming merchant account. Before applying for a merchant account for your gaming industry, you should work on some points we have discussed above.
Gaming merchant account features help you to run your high-risk gaming industry successfully without any headaches. This gaming merchant account features include -
webpays have all these features that why we recommend going with WebPays. In a short and simple sentence, WebPays offer the safest, secure, and most reliable payment solution overseas. To get more details about WebPays, directly contact the expert teams.