Selecting a gambling credit card merchant account, similar to choosing any other credit card merchant account or online payment gateway, requires a great deal of thought and consideration, because the main purpose of the Internet payment gateway is to guarantee the safe and secure transaction of funds between an online provider along with a client.
An iPayTotal merchant account for online gaming manages the secure transfer of credit card funds of your own customers from your site to your credit card merchant account. This is achieved using a software interface provided by the payment gateway company that collects vital credit card data from the customer, as well as informs the customer in real time if their credit card was approved or otherwise. Payment gateway companies normally charge a transaction fee along with a discount rate for this kind of service. Fees can vary from one processor to another one, as well as 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 might be susceptible to pilferers, and credit card scammers, and also you don’t want that happening on your own site.
Processing Account – A credit card merchant account is surely an account using a bank that allows you to 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.
You will find a multitude of merchant accounts available in the Internet today, with a number of them opting to handle transactions for specific internet businesses, while others choose to handle all types of internet businesses which require a payment gateway. Certain types of businesses have been considered “high risk”, primarily as a result of some aspect of the business.
A very high risk credit card merchant account is generally defined by factors such as kind of industry, credit score, processing history, average ticket, monthly processing volume, and location of business.
Businesses that are viewed high risk incorporate adult content material, pharmaceuticals, betting, journal subscriptions, internet streaming or down loadable content material, online dating solutions, travel and travel related solutions.
Here are a few pointers to consider when evaluating a viable gambling credit card merchant account provider:
1. Make sure to conduct a consumer research. Speak to anyone who has spent years in the business, you can learn plenty of important things from their website.
2. Be sure to look into the big numbers, cancellation fees, and most importantly, the hidden fees in advance. A credit card merchant account provider who really would like to do business with you may at least try to do business with one to adjust to your capabilities.
3. Be sure to compare the different discount rates provided by the many payment processors. There will be a credit card merchant account provider offering good services online with a better rate as opposed to others.
4. Be mindful about advertisements that may be misleading or appear suspicious. When they lie on their ads then most likely they are going to do the same to you.
5. Verify the integrity of the company. Do a background check and discover in the event the company is known for good business practices and should they have transacted with businesses like yours.
6. Do not create a habit of signing a contract too hastily. Browse the application carefully because some contracts possess a non-cancellation clause or penalty. If a company will not leave an application along with you overnight, these are probably trying to use “high pressure” tactics so you don’t have enough time to really know what you are signing.
7. Learn what people are saying concerning the credit card merchant account provider and discover which provider has the best reputation. Oftentimes the most effective type of marketing is by recommendations, because these connote first hand experience and not simply hearsay.
8. In choosing a charge card payment processor, browse the fees and services. Compare which one will continue to work perfect for your small business.
9. Check out how so when will you get the payment. Some credit card merchant account providers have a minimum amount before they give 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 rely on those monthly fees to compensate their marketing and sales efforts.