Casino Merchant Account
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Online Casino Merchant Account
Most people are aware that there are online casinos about that fairly mimic real casinos. In fact many of these virtual casinos in general will offer comparable odds as well as payback percentages that are similar to real time casinos. There are, however, some online casinos that tempt players by claiming elevated payback percentages. The way that an online casino works is by using a programmed unsystematic random number generator. As you would expect, the games favor the house because they are ruled by the game rules themselves.
With regard to a casino merchant account, it is considered an extremely high risk, higher even than those seeking to have a merchant account that provides adult merchant accounts, such as adult sites that require membership for example. Of course online casinos exist because they make available enormous potential for both revenue and return.
Merchant account providers shy away from providing a casino merchant account to an online casino because they are fraught with potential problems, such as high potential chargebacks, assorted fraud and even refunds. As is always the case with regard to any business, it is also the fault of the few casino merchants who unfortunately have practiced deceptive behavior on the part of their various online casinos. Thus in order to provide a casino merchant account, merchant account providers offer these high risk online casino merchant accounts.
These offshore or online casino merchant accounts offer the casino operator a number of assorted benefits. Among them are the following important benefits such as:
Safer Transaction Processing. Through the use of assorted negative databases that prevent the card transaction from going through, as well as address verification schemes and even CVV2 authentication, the chances of fraud by the cardholder are substantially reduced. CVV2 (card verification value 2) is of course, the last three or four digits found in the back of the card along the signature line. This offers you the best protection against credit card scams and assorted types of fraud.
Online Shopping Cart. These are provided, and are very easy to integrate into your site.
Software. Casino operators simply download the software and thus can process their own major credit card transactions and even deposit payments using their own computers.
Cost Effective Processing Solutions. These will help you save money as well as your time.
SSL Encrypted Servers. Provides yet more protection to your customers.
Online Transaction Reports. These are made available to you quickly and efficiently so you can spot fraud.
Secure Servers. Performing authorization verification online is made available to the merchant.
Online Technical Support. Being able to reach a human being when you have problems is of extreme importance of course.
Rates for an online casino merchant account will of course differ tremendously depending on the monthly sales turnover and thus vary from 3% to as high as 6%. The higher the turnover the lower the rate will be.
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Adult Merchant Accounts
Posted by BSA in Merchant Account News | 0 Comments
Adult Merchant Accounts
If you are considering providing online adult merchant accounts, you will need a different merchant account from say an antique dealer. You will find that merchant account providers are quite leery to offer an online adult merchant accounts supplier a merchant account. The reasoning behind this is the fact that those who need adult merchant accounts are thought as very high-risk merchants.
Interestingly enough, it is easier to obtain a merchant account provider if you are an online pharmacy than one offering online adult merchant services. This is because the adult business is usually highly profitable but it is also very notoriously controversial.
Another reason why adult merchant accounts are considered high risk is due to having a high chargeback potential, and the odds of it closing its doors and actually disappearing overnight may also be considered high. A further thought is that there is so much fraud being perpetrated when it involves online adult merchant services especially those adult sites that require memberships, for instance.
Those offering adult merchant services usually find themselves squeezed into absolutely exorbitant costs and excessive rates in order to process their many sales online. That is if they manage to even find a merchant account.
Of those who do tender adult merchant accounts for those offering adult services, they will find that they and their business are scrutinized very closely, and the company is very carefully evaluated. Following this the credit rating of the company and those within the company will also be assessed.
Sometimes when an adult merchant account company seeks a high-risk merchant account, they may well be charged for reserves. Usually this is a 5% to 10% of every merchant’s agreed volume or at times against the monthly sales volume. These reserve amounts will be held through the merchant processor in order to ensure against losses due to excessive charge backs, merchant fines, uncollected fees, etc.
Ordinarily if a merchant account cannot be managed, then a third party merchant account will be offered. A third party merchant account is one where they will act as a payment gateway for you, in exchange for some exceedingly high fees as well as some very exorbitant percentages.
Regardless of what kind of adult merchant account you are able to acquire, you are guaranteed exceedingly rapid online payment implementation, as well as being able to accept the main credit card types. Interestingly enough many of these third party merchant account processors will only accept businesses that sell “digital” products – such as subscriptions to password protected websites and such, thus making them perfect for adult merchant accounts.
The transaction fees that are paid to this third party merchant in conjunction with each sale made is very high, especially when contrasted to having your own merchant account. There is one saving grace though, when your sales reach an agreed upon plateau, then you will be allowed your own regular merchant account. At least when you do manage to have your own regular merchant account it will lend an air of professionalism to your adult site.
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