Online Gaming Merchant Account to Drive You Through the Efficient Gaming Payment Transactions
Gaming continues to grow in popularity, with an estimated 2.7 billion gamers worldwide. However, the sector’s influence extends far beyond dollars; it has shaped broader social, cultural, and business trends and established a path for companies to follow in terms of innovation.
Consumers have grown familiar with cashless, contactless methods, and we fully expect this new way of gaming to grow across all age groups, regardless of age.” To meet the changing needs of the customers, land-based operators should strive to provide contactless and cashless solutions in the future.
With Amald Gaming Payment Gateway, casinos can access the tools they need to meet consumer demand while also ensuring merchants have convenient and flexible gaming options to enhance their experience both in-person and online experience.”
Online security features that come with Gaming Merchant Account
3D encryption technology
3D secure technology is a security protocol that helps to prevent fraud in online transactions.
When a company has 3D security embedded in their payment system, the customer is asked to authenticate themselves using a pre-agreed password or single-use PIN (provided by their bank) to complete the transaction.
Consumers will find 3D secure to be extremely simple to use, but it will also make online shopping much safer. A useful extra benefit is that the trust it instills in consumers has been shown to increase their total spending (bonus!).
Secure Sockets Layer certification is a digital certificate that accomplishes two important security goals:
It authenticates a website and allows for an encrypted connection.
SSL ensures that all information passed between the consumer and the business is private and secure. Preventing hackers from gaining access to sensitive information.
It’s worth noting that our payment gateways are SSL certified.
PCI DSS Payment Card Industry Data Security Standard (PCI DSS) is a set of standards that any business, whether online or in-person, must follow before accepting card payments. An independent body developed and continues to verify the standards, which were created to help reduce fraud, improve payment safety, and add a layer of security for both consumers and businesses.
Pre-screening process before getting a High-Risk Merchant Account
The pre-screening process occurs in the early stages when the PSP learns a little bit more about the new merchant. When a merchant application is submitted, the payment processor may perform a quick check to ensure that everything appears to be in order. This is not a comprehensive procedure, but it can be useful in weeding out obvious scammers or fraudsters.
KYC (Know Your Customer)
Know Your Customer, or KYC is performed to kick off the underwriting process. In this step, SMBs must provide the payment processor with various information for background verification. This can include identification and address proof, bank account information, business setup, and much more.
While this can be a time-consuming process, automation and digitization have recently streamlined many aspects of KYC. Instead of physically submitting dozens of documents, most payment processors have API-based integrations. It allows you to submit your applications through their online environment from the comfort of your own home.
Check the Merchant’s History
The PSP will review your track record and any previous business you may have done at this stage. This entails taking a closer look at not only your company’s track record but also yours as an owner. This means you may be required to submit documentation verifying your personal credit history. As business owners with poor credit will attempt to start a new company but will not have settled previous debts.
Furthermore, the payment service provider will review your company’s financial documents (such as tax returns), which includes reviewing previous transactions to see if there are any irregularities or red flags.
As an example, suppose you own an eCommerce store that sells sports equipment. And you submitted documents demonstrating that you have averaged $250,000 in sales over the last six years. Payment processors conduct ongoing merchant monitoring to ensure that their customers are not committing fraud. If you made $450,000 in sales a year later with unusual cross-border activities, this could be cause for concern, particularly when compared to previous sales.
Compliance with Information Security
It is critical to ensure that all transactions adhere to the most recent network security standards. Whether you accept credit card payments, use contactless payment options, or only accept online payments, your company must be fully compliant with all requirements.
After that, you can begin accepting sales: the merchant onboarding process is complete, and you can begin accepting payments!
What are the documents required for obtaining the International Gaming Payment Gateway?
We begin the merchant onboarding process by requesting and gathering the necessary documents. While this is by no means an exhaustive list, some general documents you’ll require are as follows:
- Proof of identity (such as a passport or driver’s license) for all individuals involved in your company
- Proof of address registration documents based on the type of business you run (for example, incorporation documents/certificates, LLP agreements, or registration certificates)
- Returns on income
- Salary stubs
- Financial statements
It will also be useful to have any accounting information about your company’s financial history, such as financial statements, tax returns, balance sheets, and so on. While you can wait until the merchant on-boarding process begins to gather your documents.
Amald can assist you in your search for a reliable payment service provider. We offer a wide range of powerful and innovative payment solutions to help you scale your business, as well as cutting-edge technology and dedicated customer support.
Our PCI compliance team is available to assist our businesses in becoming PCI compliant. And all of our online payment systems are also PCI compliant.
Types of Online Gaming Businesses
Our firm offers an Online Gaming Merchant Account to the merchants such as
- Online Poker
- Mobile Betting
- Multiplayer online gaming
- In-play betting
- Social Betting
- Online bingo
- Horse race betting
This online gaming business creates a solution for your business with a perfect gateway for a transaction.