It can be challenging to find a suitable payment gateway solution for gambling and casino businesses
Gambling Payment Gateway solutions Source: pixabay.com
Since these companies belong to the sphere that exists in a gray area in many jurisdictions, it belongs to the list of high-risk industries. Consequently, the processing rates are higher.
Our list of the best gambling payment gateway options can help you to select a suitable partner and increase your revenue. We included the following companies in the list:
Why a quality payment gateway is important
It is crucial for ecommerce to use a quality payment gateway. The payment processor should securely transmit sensitive data of your clients to the issuing bank and then get a response from it if the transaction is accepted or declined. For a fixed or percentage fee, payment gateway functions as a gate to another network. You should select the best gateway solution for ecommerce growth and business efficiency improvements. In this way, there is a capability to make your gambling venue more available for your customers. It is possible to do with easier payment processing.
Taking into account the high-risk nature of the gambling industry, problems with a payment gateway may often occur. For this reason, the choice of the right payment processor is necessary. You can prevent many complications if you care about it and choose a good partner that is able to cope with such things as high volume turnover, heavy website traffic, significant regulatory hurdles, and other risks that arise in the gambling industry.
#1. Ikajo
This is a processor of major payment cards and other payment alternatives, which can handle more than 100 payment methods supporting over 150 currencies. The types of accounts vary depending on the merchants’ needs. Along with payment transactions and cancellations offered by the company, it provides payouts, subscriptions, and recurring payments.
The main advantage of this software is a thorough check of payments with over a hundred parameters examined. The company stands apart from its business rivals as it offers HPP integration for SMEs (small and middle-sized enterprises).
The software of the company was developed with a focus on security as there are built-in fraud and chargeback prevention features in it. The pricing is affordable so the solution is suitable for companies with different levels of income. The payment rate begins at 1.2%. The figures vary depending on the industry and other things.
#2. PaySpacelv
Merchants looking for a reliable payment gateway can select the option developed by Payspacelv, a powerful payment processor. The choice of this brand can help business owners to concentrate on the performance of the company and improve their sales volume.
Payspacelv cares about a smooth and seamless customer experience with the assistance of high-tech payment optimization that is easily tuned to match the needs of any company. The processor is suitable for any company regardless of its size. Payspacelv specializes in high-risk industries, so it can be the ideal solution for the gambling enterprise, taking into account the minimal rate of processing charged by the company – from 1.2%.
#3. PayKings
If you run a business that belongs to a high-risk category, you should be especially cautious about the choice of a processing provider. Operating in such an industry, many companies encountered obstacles when financial operations were declined. However, it’s possible to avoid it with a solution that removes all problems of this kind. Consider payment processor PayKings that guarantees effortless processing of transactions. The company promises to process your application within 6 hours. After approval, business owners get an extensive list of integration options to choose from.
#4. Payment Cloud
This is a company that specializes in secure payment processing and provides a payment gateway for all types of businesses. Payment Cloud has a straightforward approval process and offers its clients advanced anti-fraud tools, hundreds of integrations to payment connectors, and a simple application. The company delivers payment processing services for high-risk merchants that may have been rejected by other processors.
The main features of the payment processor:
- The system provides approval within 48 hours.
- The monthly fee varies from 25 to 30 USD while the transaction fee begins from 2.95% for medium-risk enterprises and can reach 4.25% for high-risk businesses. Each particular case is considered separately.
- The average payment gateway fee is 15 USD, while the chargeback fee is 25 USD.
- Partners with over 10 banks.
- Merchants get access to POS systems, EMV terminals, virtual terminals, and mobile readers.
Though fees are relatively high, the company has an excellent reputation and a lot of positive reviews over the web, which is a rare case for payment processors. It’s ideal for merchants with high-volume sales.
The company offers EPD Gateway as a primary offering on the market. Merchants get full-service accounts for any type of business including high-risk merchants. Taking into account large fees of high-risk industries, the condition to pay a single setup fee of 99 USD justifies the expense for merchants.
The company practices load balancing, which means that the transactions can be spread across numerous merchant accounts for further integration into one payment gateway. It helps to avoid the risks of losing an account as you always have an alternative. It also enables them to process more monthly and decrease the risk of chargeback. High-risk businesses frequently exceed monthly processing volume limits therefore load balancing options can be great for your company.
#6. SMB Global
Though SMB Global specializes in high-risk businesses it provides service to typical companies as well. The enterprise tailors its offers to the needs of different clients. It willingly works with gambling and casino companies from all over the world.
Partnering with 15 different banks, the company is looking for the best rates to satisfy its clients. Merchants can get a credit card, eCheck, and ACH payment solutions. Also, the processor delivers mobile readers and free EMV-compliant countertop terminals. The brand offers more than 175 shopping cart integrations. Though the pricing isn’t available openly and the company needs to submit the application to learn more on the subject, the rates seem to be reasonable. At least, its former clients mention it in their reviews.
#7. Authorize.net
This payment processor suits brands that need to accept payments on the website using contactless methods and checks. The company offers enhanced security with advanced fraud detection and prevention embedded in the software.
As for the fee, the company offers two payment plans so customers can select what is more appropriate. All users should pay a monthly fee of 25 USD, but then the terms vary for holders of merchant accounts and other users. Those who belong to the first group have to pay 10 cents per transaction, while the transaction fee for the rest is 2.9% + 30 cents.
Conclusion
As you see, a high-risk business is not a stigma and the problem can be easily solved if you conclude partnership with one of the processors mentioned above. Supporting transactions between your customers and your company, the processing company uses the extensive functionality of its software product, promoting your brand. Thus, a ready-made gateway solution helps you grow and increase your revenues. A properly chosen payment gateway contributes to your future prosperity, so you should be very attentive as you choose the right partner.
