Social gaming has become more popular than ever and now is the right time to invest in the business and launch your social game. That said, you won’t be able to run your online gaming business without a Social Gaming Merchant Account.
At 5 Star Processing, we provide gaming businesses with local and international payment processing solutions. We offer credit card processing solutions at low rates.
You can get started immediately by filling out the free application form that is available on our website. You may also use the live chat feature if you need more information about our services. A merchant account manager will be with you as soon as you send a message.
According to a recent survey, over 70% of online gamers prefer to make transactions with their debit or credit cards. This makes it necessary that all e-commerce platforms have online gaming merchant accounts. A merchant account will enable you to accept online payments from both credit and debit cards. But most merchant account providers are always unwilling to offer services to online gaming and casino merchants. This is because these merchants are considered to be high-risk.
Since online gaming is a fast-growing business with huge potential, it is easy not to understand why it is considered to be high-risk. One reason why merchant account providers are skeptical of online gaming/casino merchants is that there are no universal regulations. Since the laws and regulations guiding the industry vary from state to state, compliance becomes challenging.
Other issues include high amounts of chargebacks, high volume sales, fraud, refunds, and more.
While traditional banks are unwilling to work with “high-risk” merchants, there are companies that are specialized in handling high-risk merchant accounts.
The merchant account should offer you premium security, particularly regarding your transactions. Essential details of each transaction must be recorded and easily retrievable. You will find this very valuable in the event of a dispute.
A payment processor should also collect email receipts or satisfaction surveys to prove the satisfaction of your clients. As a high-risk merchant, the importance of a chargeback mitigation program can’t be overemphasized.
A chargeback can be referred to as a situation where a card transaction is disputed by a customer who either claims that the purchase was unauthorized or the service delivered was unsatisfactory.
We are always ready to offer our services to merchants in need of payment processing, high-risk merchants in particular. Our wide network of associates enables our merchant account experts to find you a personalized credit card processing solution. You will also get the support of a highly professional acquiring bank that will help you run a healthy business. We offer multi-currency processing and live customer support. Finally, the Social Gaming Merchant Account supports your favorite games.