Picking a gambling credit card merchant account, just like choosing every other credit card merchant account or online payment gateway, requires a good deal of thought and consideration, since the main objective of the Internet payment gateway is to guarantee the safe and secure transaction of funds between a web-based service provider and a client.
An iPayTotal online gaming merchant account services manages the secure transfer of credit card funds of the customers from the website to your credit card merchant account. This is done having a software interface provided by the payment gateway company that collects vital credit card data from your customer, and also informs the consumer live if their credit card was approved or otherwise not. Payment gateway companies normally charge a transaction fee and a discount rate for this sort of service. Fees can vary from one processor to another, along with features.
The 3 “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 also you don’t want that happening on your own site.
Processing Account – A credit card merchant account is surely an account having a bank that permits 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 your customer’s account.
You can find a large number of merchant accounts available in the Internet today, with many of them opting to handle transactions for specific internet businesses, while others decide to handle all kinds of internet businesses which require a payment gateway. Certain kinds of businesses have already been classified as “high-risk”, primarily because of some part of the business.
A higher risk credit card merchant account is generally based on factors including kind of industry, credit history, processing history, average ticket, monthly processing volume, and site of economic.
Firms that are viewed high-risk include grownup content material, pharmaceuticals, gambling, journal subscriptions, streaming or downloadable content material, dating professional services, travel and travel associated professional services.
Here are some pointers to take into consideration when looking for a viable gambling credit card merchant account provider:
1. Be sure to perform a researching the market. Speak to anyone who has spent years in the business, one can learn lots of significant things from them.
2. Make sure to look at the big numbers, cancellation fees, and even more 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 you to adapt to your capabilities.
3. Make sure to compare the different discount rates offered by the many payment processors. There will be a credit card merchant account provider offering good services online with a much better rate than the others.
4. Be cautious about advertisements that may be misleading or appear suspicious. If they lie on their ads then most likely they will likely carry out the same to you personally.
5. Verify the integrity in the company. Do a background check and find out when the company is recognized for good business practices and if they have transacted with businesses like yours.
6. Tend not to produce a practice of signing a contract too hastily. Read the application carefully because some contracts possess a non-cancellation clause or penalty. In case a company will not leave a software with you overnight, they are probably seeking to use “high pressure” tactics so that you don’t have enough time to truly know what you are signing.
7. Find out what people are saying about the credit card merchant account provider and find out which provider has the best reputation. Oftentimes the best type of marketing is actually by word of mouth marketing, since these connote upfront experience and not simply hearsay.
8. In choosing a credit card payment processor, look into the fees and services. Compare which one will work best for your company.
9. Check out how so when do you want to have the payment. Some credit card merchant account providers use a minimum amount before they give you the payment. Others may ask you for with wire transfer fees.
10. Avoid companies rich in fees each month. These providers will drain you of the resources. A number of these companies depend on those fees each month to make up their marketing and sales efforts.