Choosing a gambling credit card merchant account, much like choosing every other credit card merchant account or online payment gateway, requires a good deal of thought and consideration, since the main purpose of the Internet payment gateway is to be sure the safe and secure transaction of funds between an internet service provider along with a client.
An iPayTotal merchant account for online lottery manages the secure transfer of charge card funds of your customers from the web site to your credit card merchant account. This is achieved using a software interface supplied by the payment gateway company that collects vital charge card data through the customer, and in addition informs the consumer live if their charge card was approved or otherwise. Payment gateway companies normally charge a transaction fee along with a discount rate for this sort of service. Fees will be different from one processor to a different, as well as features.
Three of the “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)
Minus the proper security tools you might be susceptible to pilferers, and charge card scammers, and you don’t want that happening on the site.
Merchant Account – A credit card merchant account is an account using a bank that allows you to accept charge card payments. The payment gateway wires the billing information towards the credit card merchant account provider, and subsequently collects the funds through the customer’s account.
You will find a large number of merchant accounts that can be found around the Internet today, with many of them deciding to handle transactions for specific internet businesses, and some choose to handle all types of internet businesses that require a payment gateway. Certain types of businesses have been classified as “dangerous”, primarily as a result of some aspect of the business.
A high risk credit card merchant account is usually based on factors including kind of industry, credit history, processing history, average ticket, monthly processing volume, and location of economic.
Companies that are viewed dangerous incorporate adult content, pharmaceuticals, gambling, publication subscriptions, streaming or down-loadable content, dating solutions, travel and travel related solutions.
Here are a few pointers to take into consideration when searching for a viable gambling credit card merchant account provider:
1. Make sure to perform a researching the market. Speak to someone who has spent years in the industry, you can study plenty of essential things from their store.
2. Make sure to look at the big numbers, cancellation fees, and more importantly, the hidden fees up front. A credit card merchant account provider who really wants to work with you will a minimum of try to work alongside one to adjust to your capabilities.
3. Make sure to compare the numerous discount rates available from the different payment processors. There will almost always be a credit card merchant account provider offering good services online with a much better rate than the others.
4. Be careful about advertisements which can be misleading or appear suspicious. When they lie on their ads then more than likely they will likely perform the same to you.
5. Verify the integrity in the company. Do a background check and see when the company is recognized for good business practices and when they have transacted with businesses like yours.
6. Do not produce a practice of signing a contract too hastily. Read the application carefully because some contracts carry a non-cancellation clause or penalty. In case a company will never leave a software along with you overnight, they are probably attempting to use “high pressure” tactics so you don’t have enough time to completely know what you are actually signing.
7. Learn what individuals are saying regarding the credit card merchant account provider and see which provider has the best reputation. Oftentimes the best form of marketing is simply by recommendations, as these connote personally experience and not just hearsay.
8. In choosing a charge card payment processor, look into the fees and services. Compare which one will continue to work perfect for your company.
9. Check out how and once do you want to have the payment. Some credit card merchant account providers have a minimum amount before they send you the payment. Others may ask you for with wire transfer fees.
10. Avoid companies with higher fees each month. These providers will drain you of your resources. A number of these companies rely on those fees each month to make up their marketing and sales efforts.