The online gaming industry is one of the fastest-growing and most profitable industries today. The 2020 numbers show that online casinos alone provided 41% of the total gaming revenue. Many entrepreneurs have chosen online casinos due to their success – but one of the most crucial things to look at when opening a casino is the various merchant account providers.
A gaming merchant account will allow your business to process credit and debit card payments. Almost every online business needs a payment processor, and with the growth of the online gaming industry, merchants need payment processing more than ever. Research shows that 70% of players prefer to load funds online with either a debit or a credit card.
During casino and online gaming business applications for merchant accounts, the most important thing for processors and underwriters to certify is that the business is legitimate and trustworthy. The best way to prepare for the appraisal is to eliminate anything that looks questionable. With the long history of casinos’ legality issues, there are many grey areas as well as many changing goalposts. It’s not easy to monitor the players of online casinos, therefore, the merchant application process is already more sensitive. Online casino licences go a long way to proving legitimacy. They also ease the process substantially.
In addition to that, merchants must also have the following items to provide to processors and underwriters:
At Octapay, the application process is simple and streamlined. Our online gaming merchant account fees are competitive and affordable. Once your business is pre-approved, our underwriting department will match your company with the most suitable acquiring banking partner.
The bank fees are reliant on several factors such as processing history and sales volumes. Each account is different, but typical fees include:
Octapay provides you with the best quality payment solutions for your business. We offer a platform to offshore casino merchant account holders to accept all kinds of credit and debit cards. Our safe payment gateways guarantee secure operations for your customers which will most certainly lead to an increase in sales. Give us a call today and begin your journey to online success.