Picking a gambling merchant account, much like choosing some other merchant account or online payment gateway, requires a great deal of thought and consideration, since the main purpose of the Internet payment gateway is to guarantee the safe and secure transaction of funds between an internet provider as well as a client.
An iPayTotal online gaming merchant account and payment gateway manages the secure transfer of credit card funds of your customers from your web site to your merchant account. This is done having a software interface provided by the payment gateway company that collects vital credit card data from your customer, and in addition informs the client live if their credit card was approved or otherwise not. Payment gateway companies normally charge a transaction fee as well as a discount rate for this kind of service. Fees will vary from one processor to another, as well as features.
The three “ty’s” of payment gateways are – Scalability (would they handle varying transaction volumes); reliability (do their servers provide 99.9% uptime); security (fraud prevention tools, Address Verification Service, 128-bit Secure Sockets Layer (SSL) technology, PCI compliance)
With no proper security tools you are susceptible to pilferers, and credit card scammers, and you don’t want that happening on your own site.
Credit Card Merchant Account – A merchant account is definitely an account having a bank that permits you to accept credit card payments. The payment gateway wires the billing information for the merchant account provider, and subsequently collects the funds from your customer’s account.
There are a multitude of merchant accounts to be found on the Internet today, with a number of them opting to handle transactions for specific internet businesses, while others elect to handle all types of internet businesses that need a payment gateway. Certain types of businesses have already been considered “dangerous”, primarily due to some part of the business.
A higher risk merchant account is generally based on factors including type of industry, credit rating, processing history, average ticket, monthly processing volume, and site of economic.
Companies that are viewed dangerous incorporate mature content material, pharmaceuticals, betting, publication subscribers, streaming or down loadable content material, courting services, travel and travel associated services.
Here are some pointers to think about when searching for a viable gambling merchant account provider:
1. Be sure to do a consumer research. Speak with anyone who has spent years in the market, you can study a lot of important things from their website.
2. Make sure you look into the big numbers, cancellation fees, and even more importantly, the hidden fees in advance. A merchant account provider who really would like to work with you may at least try to work with one to adjust to your capabilities.
3. Make sure you compare the various discount rates available from the different payment processors. There will be a merchant account provider offering good services online with a much better rate as opposed to others.
4. Be cautious about advertisements which can be misleading or appear suspicious. Should they lie on their ads then probably they are going to do the same to you personally.
5. Verify the integrity from the company. Perform a background check and see in the event the company is renowned for good business practices and should they have transacted with businesses like yours.
6. Do not produce a practice of signing a legal contract too hastily. Look at the application carefully because some contracts have a non-cancellation clause or penalty. If a company will never leave a software along with you overnight, they may be probably trying to use “high-pressure” tactics so you don’t have enough time to truly know what you are signing.
7. Learn what people are saying about the merchant account provider and see which provider provides the best reputation. Oftentimes the most effective form of marketing is simply by word of mouth marketing, because these connote first hand experience and not just hearsay.
8. In choosing a charge card payment processor, look into the fees and services. Compare which one will work ideal for your company.
9. Have a look at how and when are you going to obtain the payment. Some merchant account providers use a minimum amount before they provide you with the payment. Others may ask you for with wire transfer fees.
10. Avoid companies rich in monthly fees. These providers will drain you of your resources. Most of these companies count on those monthly fees to compensate their marketing and sales efforts.