Payment Processing for iGaming ββCommon Questions
What is difference between iGamingβand low-risk merchant accounts?
High-risk accounts are the opposite of low-risk accounts β these are for businesses with a historyβof chargebacks, who operate in multiple jurisdictions. iGaming accounts are for high-risk industries and these have higher feesβbut offeressential access to payments as well as protection.
What are the costs for iGaming providers?
Fees are astronomicalβcompared to average (10% before/after)1-3)%). Final rate is determined byβindustry, turnover, geographical location and chargeback history.
How Long Does It Take to Get a iGaming Merchant Account?
Low-risk business takes someβdays here, due diligence process takes 1 to 8 weeks! Speedβvaries based on document preparedness and business model complexity.
What Does Rolling Reserve Mean andβCan You Avoid It?
Rolling reserve (ATS) A percentage ofβyour turnover (5-15%) retained for a certain period (in some cases up to 180 days) as collateral against potential chargebacks. Forβnew businesses operating in high priced industries, this is an accepted condition. But it could alsoβdecay over time by showing clean operations.
Whatβare some of the regulatory obstacles crypto/CBD companies may face?
Major pain pointsβare KYC, AML and local licensing in each country you operate. Trustworthy highβrisk payment processors will bring expertise and technology to the table here.
Which payment processorsβare trustworthy for iGaming payments?
The established market professionals can be considered as BillBlend,βPaySpacelv, iPayTotal, PayKing RISK Payments. It reallyβcomes down to your niche, where you are located and what kind of site you need.