Wednesday, September 14th, 2022
Online gambling, commonly called gaming within the merchant-services industry, is fast growing.
Are you an online-gambling provider in the UK searching for reliable and affordable online gambling payment processing services?
Online Gambling Payment Processing
To run and grow an online-gambling business, you’ll need to open a high-risk merchant account. Why? The industry is labeled as high risk due to the risks associated with the businesses in the space.
This means you’ll face difficulties when opening an online-gambling merchant account. The reason is that acquiring banks and providers of payment services are cautious about working with these businesses. Specifically, the industry can be characterized by complex regulations, high chargeback rates, fraud and money laundering risks, and high transaction volumes.
If you’re running a gambling website, you need to demonstrate certain features on it to be eligible for a high-risk merchant account:
- Compliant privacy, pages about deposit and refund policy
- Terms and Conditions in compliance with all local regulations
- Contact details are displayed clearly
- Company’s legal name
- Logos of the payment methods that you accept, such as MasterCard
Online Gaming Payment Processing for UK Merchants
According to the UK Gambling Commission (UKGC), the overall GGY in Q4 (January to March 2022) made up £1.2 billion. This was a dip of 1% from Q3 (October to December 2021). GGY or Gross Gaming Yield shows the percentage of wagers that casino or gaming operators keep.
Thankfully, there are reputable providers of payment-processing services in the high-risk field that you can work with in the UK. How can you find the right payment service for your business’s wants and needs? You just need to turn to a reliable payments-comparison specialist like BestPaymentProviders.co.uk.
Thanks to the honest review provided by Best Payment Providers UK, you can be sure to enjoy fast and easy access to the most secure, advanced, and affordable online gambling payment processing in the country. BestPaymentProviders.co.uk is focused on terms, complaints, and integration of processors so you can come up with the best deal for your financial needs.
Online Gambling Merchant Processing
Virtual betting and gaming businesses have a difficult time getting approved for payment-processing services since they’re classified as high risk. The good news is that internet-gambling businesses in the UK can work with a merchant-services comparison expert to find the most suitable payment-processing solutions for their businesses.