Many gaming merchant accounts are making money, and while they may be content, especially in the beginning, there comes a time when most gaming businesses start to see a sliding decline in customer retention and new joining members. — There is a reason for this, and it may not be what you think.
The start-up gaming merchant account
In the beginning, all your gaming account’s requirements are in order. You have your licence, you have your website team and IT consultants on hand, ready to manage all the necessaries.
You have a customer support line to help customers. Your advertising is good. Customers are coming in. Life seems good.
The weaknesses in the business
In no time, things change. As a gaming business, you know when this day suddenly dawns on you. The profits aren’t the same. Something is wrong – but what exactly? Yes, there are more chargebacks than usual, but that was expected. Customers aren’t returning; indeed, some do not return because they lose and want to try other gaming sites – this is your rationale.
However, there are more poignant reasons why your gaming business is not doing as well as it had been doing two years ago. People were somewhat comfortable making direct deposits into your account, receiving credits and playing along.
The pay-outs, though not as fast as a physical gaming business would be, do come out. It’s not about the losing that annoys the customers as much as the method in which they can transfer funds and receive funds efficiently and safely.
The tools your gaming account needs
The two ways you can immediately begin to see better results with your gaming account business is to secure a reputable payment processor and to offer your customers a safe environment in which they can part with their money.
Other attributes a credit card payment processor would include would be the inclusion of credit cards for all your online-based customers, making it easy for them to make deposits, which will swell your profits faster.
Also, chargeback rates will drop with the advice given by the merchant account locator as well as other methods to give your gaming company a secure payment gateway.
Competition and Technological Advancements
There are many other gaming merchant accounts out there, offering various, innovative platforms that may be a direct competition to your service offering.
With this also comes technological breakthroughs and enhanced platform designs. Its important that your gaming merchant account has the best designers and software available to support online gamers around the world, keeping them interested and loyal to your gaming merchant account website.
It’s important to understand the behaviour of the customer; and in your gaming merchant business, the player. It’s essential to understand the nature of your customers their likes and dislikes.
It would be advisable to keep tabs on your players throughout your gaming merchant website to ensure that you understand what they like and do not like. Perhaps offering a rating per game or asking plainly what your gamer customers would love to see and experience.
With this vital information, your gaming merchant account will be one step closer to giving your customers what they want.
The solution can’t be simpler
It may be obvious now that for gaming merchant account owners, the only option is to have a bank backing their business. However, banks will not back a gaming business because it is considered high risk.
Still, the good news is that with experienced credit card payments processors like iPayTotal, what with their expansive knowledge and wide, strong relationships with offshore acquiring banks, you can be sure to have a banking back-up for your gaming merchant account.
The solution is therefore to contact iPayTotal and register to become approved as a gaming merchant account. With this, the limits to your revenue are limited only to your imagination.
Just see for yourself what a professional, experience high-risk merchant account processor like iPayTotal can do for your gaming merchant account as well as for your customers.
Make Contact today and see the difference you’ve always aimed to achieve and sustain for your gaming merchant account.
It’s time, wouldn’t you agree? Click here to email an enquiry or call +44 800 776 5988 for more information to set up your gaming merchant account.