It is a great time to invest in a gaming merchant account, especially if you have an online business. Research shows that the online gaming market will generate revenues of $159.3 billion in 2020 alone. The market is expected to surpass $200 billion in profit by 2023.
Statistics also indicate that the average amount spent on buying games, downloading content or on live streams is $229. If your business cannot process multiple payment transactions through a gaming merchant account, you will be losing a significant amount of revenue per day.
To process these transactions, you need a payment provider to help you accept payment options such as debit and credit cards. Despite the gaming industry’s significant success, many banks and financial institutions refuse to open a gaming merchant account due to the high volume of chargebacks and fraud risk.
Luckily, there are alternative options for you, such as iPayTotal.
How to obtain a gaming merchant account
At iPayTotal, we can help you obtain a gaming merchant account, suitable for your gaming business’s specific needs. We specialise in high-risk businesses such as the gaming industry. You can be sure you will have the right merchant account provider for your business, with reasonable rates and many benefits, such as:
- Quick approval
- Multi-currency payments
- Multiple payment methods, such as cryptocurrencies
- Credit card processing for major brands
- 3D secure processing
- SSL encrypted services
- Real-time credit card processing
- 24-7 customer support.
Technological advances have played a fundamental role in the success of the gaming industry. Its rapid expansion is due to the significant contributions the technology industry has made. The future is online, with the most advanced tools a gamer can find, including digital currencies.
Buyers like to feel safe while purchasing goods or services, so it is very beneficial if your business can offer new and secure options. Cryptocurrencies allow transactions of any amount and currency across the globe.
Operations can be done through a smartphone or personal computer, depending on the merchant’s choice. You will be able to expand your gaming business to different parts of the world. Digital currencies such as bitcoin are also a very secure payment method, reducing the number of fraudulent transactions, so your online gaming business is protected from fraudulent risks and chargebacks.
At iPayTotal, we have a clear perspective of the future of payment processing and can offer the most suitable solutions for your company. We want to help you expand and be part of the successful and profitable gaming merchants’ team.
Don’t waste your time with the wrong high-risk merchant account provider. Contact us today at iPayTotal and open your gaming merchant account.