Selecting a gambling credit card merchant account, similar to choosing some other credit card merchant account or online payment gateway, requires a good price of thought and consideration, because the main objective of your Internet payment gateway is to be sure the secure and safe transaction of funds between an online provider and a client.
An iPayTotal payment gateway for online gaming manages the secure transfer of credit card funds of your own customers from the website to your credit card merchant account. This is done with a software interface offered by the payment gateway company that collects vital credit card data from the customer, and in addition informs the customer instantly if their credit card was approved or otherwise. Payment gateway companies normally charge a transaction fee and a discount rate for this type of service. Fees will be different from one processor to another one, along with features.
Three of the “ty’s” of payment gateways are – Scalability (can they handle varying transaction volumes); reliability (do their servers provide 99.9% uptime); security (fraud prevention tools, Address Verification Service, 128-bit Secure Sockets Layer (SSL) technology, PCI compliance)
Without the proper security tools you are at risk of pilferers, and credit card scammers, and you don’t want that happening on your own site.
Processing Account – A credit card merchant account is definitely an account with a bank that lets you accept credit card payments. The payment gateway wires the billing information to the credit card merchant account provider, and subsequently collects the funds from the customer’s account.
There are a multitude of merchant accounts that can be found in the Internet today, with a number of them opting to handle transactions for specific online businesses, and some choose to handle all types of online businesses that require a payment gateway. Certain types of businesses happen to be considered “high-risk”, primarily due to some aspect of the business.
A high risk credit card merchant account is generally based on factors such as kind of industry, credit history, processing history, average ticket, monthly processing volume, and site of business.
Businesses that are thought high-risk include mature articles, pharmaceuticals, wagering, publication subscribers, streaming or downloadable articles, dating solutions, travel and travel connected solutions.
Here are some pointers to think about when evaluating a viable gambling credit card merchant account provider:
1. Be sure to perform a market research. Talk to someone who has spent years in the business, you can study lots of important things from their store.
2. Make sure you look into the big numbers, cancellation fees, and even more importantly, the hidden fees in advance. A credit card merchant account provider who really desires to do business with you are going to at least try to do business with one to adjust to your capabilities.
3. Make sure you compare the numerous discount rates provided by the different payment processors. There will almost always be a credit card merchant account provider offering good services online with a better rate than others.
4. Be mindful about advertisements that can be misleading or appear suspicious. When they lie on their own ads then probably they are going to carry out the same to you.
5. Verify the integrity of the company. Conduct a background check and discover when the company is renowned for good business practices and if they have transacted with companies like yours.
6. Tend not to make a habit of signing an agreement too hastily. Browse the application carefully because some contracts carry a non-cancellation clause or penalty. In case a company is not going to leave a software together with you overnight, they are probably attempting to use “high pressure” tactics so that you don’t have enough time to completely know what you really are signing.
7. Find out what people are saying concerning the credit card merchant account provider and discover which provider has the best reputation. Oftentimes the very best type of marketing is actually by word of mouth marketing, because these connote upfront experience and not merely hearsay.
8. When choosing a credit card payment processor, look into the fees and services. Compare which one will continue to work ideal for your company.
9. Take a look at how so when will you get the payment. Some credit card merchant account providers have a minimum amount before they send you the payment. Others may ask you for with wire transfer fees.
10. Avoid companies rich in monthly fees. These providers will drain you of your own resources. Many of these companies count on those monthly fees to compensate their marketing and sales efforts.