The iGaming industry rose more popularly and made constant growth in the past few years. Whether it is technological innovations, payment modes, or others, Fantasy sports have become highly competitive and a lot of changes have taken place.
The world of payment gateways is constantly adopting new changes. A secure and seamless payment system will always be needed for the industries involved in the e-commerce industry.
But due to various factors, merchants often face rejection of service from the banks. Also, banks consider them as a high-risk business. So, before proceeding further, let’s discuss the factors for a business to be considered as a high-risk industry.
What are the risks and how to determine them?
There are several factors to determine the risk. Some might have their proprietary formulas for evaluating risks. However, there are so many factors it is tough to predict how a provider evaluates the risk level. Here are some of them to predict the risks –
Higher Chargebacks- If you’re into an industry that has a lot of chargebacks, you will likely be rated a high-risk industry. This is true for out-and-out fraud as well.
Offshore Businesses- Businesses that are located overseas but do business operations in a different region may be considered high risk. This can vary depending on the business location.
Poor Personal Credit- A bad personal credit score of a business owner or entrepreneur may be the cause for you to be considered a high-risk business.
Risky Products/Services- Some business niches are consistently riskier comparing others. For example, selling drugs material may be legal, but it is in a more shaded area than other businesses.
High-Value Sales- If you’re selling products to customers that cost less, the downside of a chargeback is the least. However, if you consistently sell something that costs more, the downside is much higher. This may get your business marked as high risk.
High-Volume Sales- Some businesses have a remarkably high volume of sales with big margins. Anyhow, this could be another reason for getting flagged as a high-risk business.
These factors are evaluated in the underwriting process. Some online iGaming merchant account or high-risk merchant account provider will deny working with you. Others, including Amald, have special accounts intended for high-risk businesses. Hiring a merchant account provider that has expertise in the industry can help you make the most of your account even in the riskiest industry.
What is the high-risk merchant account?
A high-risk merchant account is a payment processing solution for business founders who are classified as a high-risk service or product category by acquiring banks and credit card brands.
Amald can get you approved today from low to high-risk merchant accounts, eCommerce or Retail company at reduced rates and fees.
Benefits of a high-risk merchant account
Easy payment process:
Credit card payments are a relatively fast, easy experience. Amald makes your payment process as least step as possible. And to reduce fraud and chargeback provides a 3D secure merchant account.
Secure payment gateway access:
We are well-aware of high-risk industries, and we know the acquiring banks that work with them. Amald facilitates merchants with a secure payment gateway to provide the safest payment processing for the industry.
More than a merchant account provider:
We guide the merchants on preventing and mitigating chargeback and fraud, as well as the latest updates on the high-risk merchant account industry.
Value-added services:
We provide service like 3D secure processing, eCheck processing and ACH, virtual terminal for accepting MOTO payments with our merchant account service.
Offshore Solutions:
Offshore merchant account is the ideal solution for the high-risk business to expand their business reach. It removes the volume cap and opens the ability to open door into the global market.
All the card brands:
Amald offers you access to all the major card brands payments. You can widely accept Visa, MasterCard, JCB, Amex, etc. payment with our iGaming merchant account service.
Increased sales and revenue:
We do not only offer merchants to process payments online but allow them to process high volume sales and expand their online presence.
One-stop payment:
This allows to merchants process payment online via various modes. We offer merchants to provide their customers to make payment with the mode that suits them better. Alternative payment methods with our iGaming payment gateway diminish the difficulty of payment processing for the merchants.
We specialize in high risk:
Having a service provider that has specialization in various industries is the best advantage a merchant can have. Amald has the expertise in dealing with various niches of industries. We provide a reliable base from which a merchant can process credit card payments.
Providing all the tools to grow:
Amald comes as a comprehensive solutions for the merchant’s business needs. We are a one-stop solution for them to grow and earn more revenue.
Contact Us
If you are a merchant involved in any business whether it is high-risk, mid-risk, or low-risk and worried about the payment processing service, Amald is the correct destination for you.
Being a high-risk payment processor in the industry, Amald has the expertise in providing secure and seamless payment processing to companies. We offer a wide range of solution to the merchant for their business needs.
To get more details about iGaming Merchant Account, connect with us.
