Top Mistakes While Choosing the Gambling Payment Gateway Which Merchant Makes
For any gambling business, offering the best experience for using the services is incredibly important. The right payment gateway gambling not only helps you to grow your business but also attracts more and more customers. So, we suggest you pay attention to PayCly, which offers you a reliable and secure gambling payment gateway.
Here, we will discuss in detail the most common mistakes merchant make while choosing the best gambling payment gateway. The best gateway for gambling offers you all the possible solutions you need for your gambling business. Without an appropriate payment gateway, it is challenging to gain a profit. So, if you are looking for the best gambling payment gateway, we will help you with the right solutions.
Overview of the Gambling Market –
In 2020, there was a USD 66.72 billion markets for online gaming software. The COVID-19 pandemic’s impact on the world has been unprecedented and catastrophic, and amid the epidemic, internet gambling has seen a surge in demand in every location.
According to the most recent data, the market showed substantial growth of 11.2% in 2021. Online gambling software would increase at a CAGR of 11.4% from $74.17 billion in 2021 to $158.20 billion in 2028. When the pandemic is over, this market’s demand and growth will resume to their pre-pandemic levels, which explains the continuous increase in CAGR.
Digital gambling demand is driven by factors such as the expanding usage of smartphones, improvement in internet technology, and rising consumer buying power, among others. Online gambling software suppliers heavily invest in the latest technologies to improve the customer experience and increase player interest. In the context of the market report, market estimation is carried out based on the user revenue that gambling platforms escort antalya create.
What is Gambling Payment Gateway?
If you are entirely new and are unfamiliar with the concept of the payment gateway, then it is a little bit difficult to understand the concept of payment gateway gambling. In a simple sentence, you can say that the payment gateway is the latest technology that allows convenience and fast transfers.
The gambling payment gateway plays a significant role in the flow of remittances. There are two stages to the procedure:
- The option to accept or reject the data transfer from the banking system to the online gaming platform.
- Sending the payment from the service buyer to the service provider (or vice versa).
When we talk about gambling, the buyer is the player, and the seller is the gambling platform. So, now it is clear to you what is gambling payment gateway is? Right?
What Mistakes do Merchants Make While Choosing the Gambling Payment Gateway?
As of now, lots of service provider is available. But, the most challenging task for any merchant is choosing the best payment gateway that fulfils all their requirements. Most of the time, gambling merchants make common mistakes, and as a result, they lose customers. So, here we discuss what mistakes merchants make while choosing the payment gateway for gambling.
Go with the service provider who offers low fees –
Every merchant looks for the best solutions at a low cost. But not every service provider who offers low fees is reliable for your business. This type of service provider only covers some of your requirements.
Let’s check some of the most common fees and service provider charges –
- Transaction fees – Generally, most service provider charge per transaction. When a PSP assesses a specific price for each transaction, it occurs. It comprises a conversion rate, a PSP markup, and an assessment (a one-of-a-kind charge that is based on the kind of a client’s card). Around 0.11% is the assessment cost for Visa cards.
- Occasional fees – It is different from the regular type of fees. The service provider only charges for this when some incident happens, like chargebacks, fraudulent activities, failed transactions, etc. The best idea is to choose a service provider that offers fraud and chargeback prevention tools.
- Flat fees – Sometimes, merchants must pay additional funds using the specific payment gateway.
We recommend you go with the one who fulfils your requirements. Never go with cheap solutions because they will destroy your online business.
Futuristic Security Tools –
When choosing the payment gateway for gambling businesses, the merchant should never compromise security. For any merchant, security is the top priority.
Any online business is based on online transactions. So, it is the merchant’s responsibility to offer their customer a secure platform to make payments.
Every merchant should consider using a PSP with a PCI DSS certification when protecting transaction data. There is no way to overstate its importance. The PCI SSC certification offers the chance to meet the most recent requirements for transaction data security and optimize the entire infrastructure’s performance.
As a merchant, make sure that your service provider offers you the following –
- PCI DSS Level 1 compliance
- Anti-fraud tools
- Anti-chargeback tools
- Tokenization
Offer only limited payment options –
Every merchant wants to expand their online businesses and also wants to make more and more profits. But, they need to offer the players various payment methods. Most players want to avoid using their credit cards for security reasons. In this case, if you are not offering a wide range of payment options, you can quickly lose many potential customers.
By offering various payment options, you can easily reach a large audience. Make sure that your service provider offers you the following payment options –
- Credit/debit cards
- Bank transfer
- Net Banking
- Mobile Payments
- e-wallets
- Crypto-currency
Hassle-free integration process –
The payment page will be more enjoyable to use on the PSP if it can be integrated into the game UI with less effort. It is crucial to get in touch with a payment provider who can inform you of the peculiarities of each gambling payment system and help you select the optimal integration strategy.
Which is the Best Solution for the Gambling Businesses?
Today, you can find many service providers on the internet that provide services. But only some of the service providers will fulfil your requirements. The best option for your gambling business is PayCly.
PayCly is one of the leading payment service providers with many years of experience in the gambling industry. It completely understands your business needs and offers you the best possible solutions.
Let’s check what benefits you can get with PayCly.
- It is an all-in-one solution. You can get the online payment gateway, merchant account, and payment processing in one place.
- Offer various payment methods, including credit/debit cards, net banking, mobile payments, e-wallets, and cryptocurrency.
- It can accept multi-currency from all over the world.
- It offers futuristic security tools like anti-fraud and anti-chargeback tools. Also, cover all the PCI DSS issues.
- The integration method is straightforward.
- It has the best pricing structure in the market without any hidden charges.
- It offers excellent 24*7 customer support services.
Final Thoughts –
Platforms for online gambling are thought to be a profitable industry that enables the merchant to make more and more profit. Opening your own online gambling company has gotten easier as running an online casino or other game becomes more convenient. But there are still a lot of little things to iron out.
The most important thing is to find a suitable payment gateway for gambling. Well, today, you can get many service providers, but not all are suitable for gambling businesses. While choosing a convenient payment gateway for gambling, merchants also make many mistakes which we already discussed above.
The best solution for the gambling industry is PayCly. It offers you all the possible benefits and helps you to grow your businesses worldwide.
Contact the expert team right now to learn everything about PayCly.
The gaming industry has an increased number of commercial conflicts and legal rules and regulations because it tempts many players who have a chance to conduct fraud. Moreover, the online gaming business comes under a high-risk industry because it can be used for activities such as money laundering, tax evasion, data breaching, etc. As an outcome, it has become more significant to get an online gaming merchant account. Paycly delivers the most secured merchant account solutions with high-level security features. So, connect with us by just clicking here and acquiring the best online gaming merchant account services for your high-risk business.