Online Gaming Merchant Account

Nowadays, online gaming industries are thriving all over the globe. The online gaming industry is anticipated to arrive approx $32 million at the end of 2025. So, the online gambling providers have a good opportunity to enhance their users. But, to manage this, an online gaming merchant requires an online gaming merchant account.

Selecting the right gaming merchant account is not a problem-free job. Ensure your preferred online gaming merchant account delivers flawless and quick payments and does not disturb the gaming adventures.

So, in this blog, you will get details of primary online gaming merchant accounts. And we will initiate with what is an online gaming merchant account. And then proceed to how to select the online gaming merchant account. So, let’s begin.

What is an online gaming merchant account?

In simple words, an online gaming merchant account provides payment gateway services that function for an online gaming business.

An online gaming payment gateway is a specialized solution that assists to manage online transactions safely. The online gaming merchant account links the gamer’s eWallet/account with the gaming merchant account to make a transaction area. During online payment, discreet data is totally protected.

Why online gaming businesses are regarded as a high-risk sector?

Do you understand why the gaming business regards as a high-risk sector? Well, there is not a single truth that drives it as high-risk. There are so many hazards associated with the gaming industry. These are the primary ones:

Risk of fraud and KYC issues. This is one of the most serious issues that the gaming sector faces every day.
Excessive chargeback. In the gaming business, everyday merchants have to face inordinate rates of chargebacks.
Boost website traffic. Generally, heavier website traffics means that watching deals and spotting frauds becomes decreasingly delicate. In some cases, the payment gateway may indeed come overwhelmed due to the large volume of transactions.
Regulatory barriers. In gaming industries, online gaming and online payment both are heavily regulated with conditions for gateway providers varying from country to country. This can have an inhibiting effect.

Why Use a Reliable Merchant Account for Online Gaming Business?

While online gaming is now admiringly maintained and categorized, some financial organizations hold on to acknowledge that specific risks are kept. They will most presumably become better instructed about the gaming industry and more trustful of gaming merchant account providers over time.

The merchant account suitable for the online gaming business is a high-risk merchant account. The main reason behind this is that many of the online payments that come from gamers have a more increased chance of being defrauded. This is because they frequently use theft credit cards to complete their buys. However, the cardholder may not be familiar with the purchase until it has already been completed.

There is also a way to get reliable payment processing solutions for your online gaming business actually with the high risk.

High chargeback ratio: Casinos and online gaming businesses have significant chargeback and refund ratios. Moreover, it improves the payment processor’s risk when processing online credit card payments.

High turnover ratio: They also have a more increased turnover ratio. And which raises the risk for payment processors.

Concerns about scams: Multiple gaming functions are located offshore, and growing concerns about the fact of money laundering and scam.

Why Use a Reliable Merchant Account for Online Gaming Business?

The merchant account suitable for the online gaming business is a high-risk merchant account. The main reason behind this is that many of the online payments that come from gamers have a more increased chance of being defrauded. This is because they frequently use theft credit cards to complete their buys. However, the cardholder may not be familiar with the purchase until it has already been completed.

There is also a way to get reliable payment processing solutions for your online gaming business actually with the high risk.

High chargeback ratio: Casinos and online gaming businesses have significant chargeback and refund ratios. Moreover, it improves the payment processor’s risk when processing online credit card payments.
High turnover ratio: They also have a more increased turnover ratio. And which raises the risk for payment processors.
Concerns about scams: Multiple gaming functions are located offshore, and growing concerns about the fact of money laundering and scam.

How to finalize an online gaming merchant account?

Nowadays, we survive in a positively competitive industry. So, the merchant must have the best and most progressive payment solution for their gaming industry.

I know, that selecting an online gaming merchant account is quite difficult. The ones who are totally unknown in the gaming business sector have to maintain some factors in their mind while choosing the payment gateway for gaming businesses.

Easy integration and technical sector. While preferring the online gaming payment gateway solution. And you should maintain all the technical reviews at a preference base.

Whatever payment gateway you have chosen must have tech-savvy and easy integration with the technology you are opting for. It requires to have hassle-free payment gateway integration without causing any negative effects on the gamers.

We suggest you opt for the use trial method rather than spending just to know whether it is quick, slick, comfortable, and easy to integrate or not.

Mobile compatible.

This is advantageous both when it arrives at user experience as well as the payment comfort. So, your online gaming merchant solution must be consistent with all sorts of appliances such as mobile, PC, or tablets.

More factors to evaluate

Gaming experience. Nowadays, gamers predict a smooth and flawless experience in every sector of the gaming procedure from playing the game to completing an online payment. They are searching for undisturbed payment services. As playing online games must be quick and slick the gamer requires the same factors with the payment processing also.

Ensure that the payment gateway you have chosen must deliver you with a soft, speedy, and easy checkout process on your online gaming platform. A long and complicated process might affect your gamer as well as your gaming platform.

You must have to deliver your gamers with an outstanding gaming payment experience. So that your gamer can easily buy an in-gaming product such as additional coins, playing weapons, upgraded levels, etc.

Protection and safety.

As we all understand that gaming sector has a higher risk of hazards, fraud, and chargebacks as resembled any other industry. This is cause the gaming industry is classified as a high-risk industry. Hence, you must choose the payment gateway that will help the high-risk business and delivers the best payment processing for gambling merchants.

You should also ensure that your online gaming merchant account can manage the gaming players, PCI DSS compliance, cybersecurity, SSL, encryption techniques, etc.

Wrapping Up

Now you understand that the gaming enterprises came under the high-risk sectors. So, you have to prefer an online gaming merchant account solution. And which delivers the best gamer playing experience and security factors. And as per our expertise, WebPays will be the ideal payment gateway solution for your online gaming businesses. Just click here and talk to our expert team.