Online casino businesses need a fast and easy payment processor to offer enjoyable experience to the users who come to these sites for fun and quick money. They face non-cooperation from banks and are in constant threats of getting cheated from fraudsters too. So, how to shop for online casino merchant accounts? Have you taken into account all risks that make this account irrelevant? Well, listed here are a few important factors that can make your online casino merchant account irrelevant in spite of heavy fees you pay to acquire one.
Biased behavior of banks
There are different codes allotted to online transactions happening in unregulated casino sites. The banks, sometimes, simply deny the transaction because of the high risk factor. But, with legalization of online gambling sites in different states, various payment processors have generated new codes. Thus, the casino has to be registered with the regulatory authorities to enjoy seamless transactions.
No payment through wire transfer
None of the banks are giving support to casino merchant accounts accepting wire transfers. Thus, the merchant account has to have facility to accept the payment through credit cards. There is no mechanism, as such, to identify and bar the underage player or a player operating from the land where online gambling is restricted.
Only PCI-compliant accounts should be considered
To prevent fraud, a PCI-compliant account is a must. The merchant account has to win the PCI-compliance in order to become customer-friendly and fully protective of players’ money.
Set volume limit upfront
You must convey to the merchant account provider the information about the potential volumes likely to be handled. It will help you avoid delay in payments caused by issues of crossing the volume limit.
So, make sure that you have taken into account all these factors before subscribing to the online casino merchant accounts. You might not be told about these in the first meeting!