Smartphones and the internet have completely transformed the way people make digital payments. The number of people using mobile devices to access the internet is expected to reach 3 billion by 2020. This is equivalent to 65 percent of the world’s adult population.
By 2020, it is expected that 80 percent of all internet users will access the internet via mobile devices. Cyprus is the third largest island in the Mediterranean, and it is rich in both natural beauty and mythology.
Cyprus has a lot of scope for Casio merchants with different payment options
Every year, it welcomes around three million tourists and introduces them to the welcoming Cypriot way of life, making Cyprus the world’s 40th most popular tourist destination. When making a purchase, consumers are increasingly opting for alternative payment methods such as online bank transfers, mobile wallets, or cash-based payment options.
Alternative payment methods account for a greater proportion of e-commerce growth than credit cards in countries such as Cyprus. They provide people with a quick and secure payment option. Your customers now have more payment options than ever before. Electronic payments are a primary payment method for millions of people, with many consumers making payments via mobile devices.
Customers have become more accepting of innovations as technology has advanced, but they have also become more demanding of their merchants. You can be ready for your customers wherever they are in the world by adapting your website to provide payment options that are appropriate for them.
Gambling merchants may face unusual activity on a customer’s account, such as an increase in the number of bets or higher stake amounts bets placed in a short period of time followed by a request to withdraw funds. Hence, they need a merchant account solution that can help them with the custom check for all the pay-ins going through their business.
Amald has developed market expertise by serving high-risk industries. We provide Payment Gateway Cyprus to merchants in the casino business in order for them to receive their business payouts. Casino merchants can also obtain Casino Merchant Account to help them manage their financial transactions.
We guide you through an analysis of what problems and mistakes can get in the way and how to avoid them, based on our extensive experience developing and launching online casinos.
Increasing charge-backs possess a serious issue for casino merchants
This is money paid by a business, such as a gambling company, to reimburse a bank or credit card for a disputed transaction held by the cardholder. Chargebacks not only result in fees and revenue loss, but they also have numerous hidden costs, such as the loss of a future customer and, time and money spent providing service to that customer. Overall, the cost of a chargeback is frequently more than twice the amount of the original transaction. When a casino pays more chargebacks, it suffers greater losses and develops a negative reputation with the various financial institutions involved.
Running an online casino business can be a painful decision
An online casino is a large, time-consuming business that requires significant financial investment. Online casino business takes extensive and painstaking planning, strategies to employ while eradicating every possible obstacle in successfully flourishing in the competitive industry. Everyone makes mistakes, but that doesn’t mean you can’t reduce your chances.
Building a reputation can take a long time and a lot of money, but destroying it can be quick and simple. So, once you’re up and running, you’ll want to avoid any blunders, which is why you should anticipate where a problem might arise: it’s better to prevent problems than to solve them.
The online casino industry is expanding at an incredible rate. The industry had a market value of $53.7 billion in 2019. Going forward in 2020, we anticipate the industry to expand even further as more and more players turn to online gambling.
One of the most important aspects of running a successful business is revenue generation. The online casino payment gateways are directly related to revenue generation and have a significant impact on how gamers perceive the business’s image in their minds. Users place a premium on the safety and security of casino payment gateways because it directly affects their financial situation.
Amald provides a comprehensive Casino Merchant Account Solution for merchants in any industry. The nature of business and other obstacles hardly impedes our ability to provide service to any of the industries. If you own a business, you will receive a payment gateway solution. Our highly efficient expert team assists your company in achieving tremendous growth.