Payment Gateway for Poker

Online Poker has already become not only enjoyable but also an international business, that surrounds the globe. By 2021, the international online poker industry is assessed at $ 72.04 billion and is predicted to increase by 12.2% by 2025.

Increasing urbanization and the digitalization of technologies across the globe are the primary drivers of the industry's development. Furthermore, most countries are generating bills to legitimate the poker business.

Gamers have the option to play lawfully without worrying that their accounts and all money will be barricaded. At a similar time, merchants get more chances to grow their poker business, enhancing gamers’ user experience. Yet, the poker business is still regarded as a high-risk industry, which needs a relevant system for economic transactions.

One of the significant decisions a merchant must take is selecting a payment gateway for online poker. In this blog, we will regard the main issues gambling merchants encounter and get familiarized with the standards for choosing a poker merchant account industries.

What do you mean by a payment gateway for poker industry?

At first view, it appears like a payment gateway is a complex term. However, there is nothing difficult to understand its performance of it. A payment gateway solution is an ingenious and cloud-based technology that strives to assist the transfer of monetary funds from one point to the final goal. To facilitate it, a payment gateway performs a role in approving the payment flow.

Generally, the transmission is a two-step procedure that contains the sharing of banking data to decide whether to make the payment or reject it and the transfer of actual funds from a customer(in our case - a poker) to a merchant(an online payment processor casino platform). So, the important concept of every poker payment gateway is the money transmission from a gamer to an online poker organization and vice versa.

Problems that poker merchants usually come across with

• High turnover and number of transactions. For poker platforms, the high acceleration of payment processing is very essential. A quick “inflow” of payments at a certain point overfills the processing hub and confuses their monitoring and processing. Serious traffic in the poker industry can overfill the payment gateway.
• Risk of money laundering and breach of KYC (“Know Your Customer”) regulations. Money laundering, credit cards, individuality theft, etc. And all subjects to a threat to gaming businesses and, therefore, to the payment service provider.
• Rules & Regulations obstacles. The ruling government of most countries assesses more strict needs in the gambling sector than others. The gaming payment solution and payment provider must encounter several conditions for the payment processing action.
• Security of personal details. Online poker delivers a lot of attention to protection. The protection of customer details is a leading priority for any online business. Only during the pandemic era, did the number of frauds in the poker business expand by 56%. Thus, when preferring a payment gateway for gambling businesses. You should focus on how protected the system is from scammers.
• Withdrawal of money. Online poker regards as a high-risk business in most countries. It implies that such organizations have problems in trying to withdraw money from a bank account. Additionally, most payment gateways have limitations on the part of withdrawal. online poker business is a high-risk business so you need a high-risk merchant account.
• High ratio of chargebacks. There is a maximum chargeback level for every business sector, upon which extra limitations/prerequisites are assessed on the business. Fraudulent dealings often generate chargebacks, so the payment gateway should deliver the highest level of protection.

Since online poker businesses must follow safe gambling practices, keep juveniles out of gambling, and sustain reliable gambling, they will have to get a payment gateway for poker industry that comprehends the business’s unique requirements.

Factors for preferring a payment gateway for poker business

Based on the above issues, we have assembled a list of fundamental factors that will assist you in answering the question. Which payment gateway is most suitable for your poker business?

• Security Features. Customer security is the primary feature a payment gateway should deliver. However, artificial intelligence and machine learnings are the most cutting-edge fraud exposure and prevention techniques. Thanks to this, fraudulent transactions can not only be witnessed and stopped on time but also controlled from appearing in the future.
• Availability. Any customer must be able to make a payment from anywhere in the globe by preferring a suitable method. The more payment techniques the gateway delivers, the more suitable it is.
• Transaction output. Transaction output is the volume of successful transactions to the total number of payments in a percentage form. The more dedicated the payment gateway, the more increased this arrow is.
• Payment modes. The payment system should deliver different payment choices that are suitable for customers, both domestic and global.
• Technical help. The payment gateway company must deliver experienced technical consent to answer all customer queries and help determine any issue.

What can WebPays, as a payment mediator, deliver online merchants?

Why WebPays?

WebPays is not only a payment gateway but a complete suite of online banking services that deliver a full scope of payment services for both people and legal commodities.

Furthermore, we deliver your online poker business a full-fledged payment gateway for poker in Europe business and merchant accounts with different payment methods and approval for global purchases. You can directly contact us and ask anything regarding payment services for your online business. If you connect with us once, then you will be a long-term customer of us. So, sign up WebPays and focus on your business without any headache with payment solutions.