Running an online casino, competition or lotto? Payed ensures you can accept and manage online payments as a high risk businesses,with low fees and extensive industry experience.
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Casino and online gaming is our bread and butter. We know the industry inside out and have been involved in it for many years. In fact, we service some of the biggest casinos in the gaming sector, allowing their ‘high risk’ operations to run smoothly without a hitch from their payment gateway. As with other high risk industries, it is of the utmost importance that you choose a specialist high risk payment processor to work with.
Gaming and gambling card processing codes (7995) are blocked by some card processors entirely. But not to worry, as long as you follow our advice and work with a high risk specialist who knows the industry, they will assist you in navigating the pitfalls (and there are many!) giving your processing on the correct 7995 code you need.
So what can Payed do for my business? Glad you asked. The answer is a lot. We know this sector like the back of our hands. With our guidance, you won’t have the usual headaches and you’ll be able to sleep at night without worrying that there will be no money in the morning. To be honest, there are not many of us who specialise in gaming. Many would not even go there due the associations and risk of illegal activities and usages. They do not want unnecessary risks.
It is precisely because we are aware of and understand all the risks that will participate and share our wisdom with our customers.
Casino, lotto, competition and igaming accounts come with a high risk of chargebacks, where a customer disputes a charge on their card statement. This can be due to fraud, high value purchases, and legal and regulatory frameworks Chargebacks are in short a huge hassle for all involved and many providers steer well clear of any industries which are susceptible to them. If you have a traditional account once upon a time, chances are you’ve been shut down, or if you are still going, you may be soon.
If you have had your card processing closed for operating a gambling site, chances are you simply had a processing partner who did not understand the industry. This will understandably be a very stressful time for you but there is a solution. You just need to connect a payment processor who specialises in high risk. We’ll work with you to get your business back on track asap.
The worst thing that can happen to your business is to have your gaming merchant account shut down. No cash flow, no cash, no business and your funds could be frozen for months. This is why it is imperative that you work with a high risk gaming specialist. Banks constantly monitor accounts for high risk activity, so even if you manage to open a traditional account and did not get a no upon application, you are far from safe. You can avoid this whole headache by working with a trusted specialist.
Payed are the guys for you.
If you run a compliant gaming operation in a licensed territory then we will be able to help you with payment processing without question. We will also help you setup with bank, broker and FX solutions for end to end payment solutions for your business.
Online payments have to go via a processor in order to facilitate the card transaction with the bank, there is no way around this other than using pre-paid solutions such a PayPal or cryptocurrencies. The reason for the risk is almost certainly money laundering, where the money that goes into a casino is not always the same money that comes out - or Bitcoin that goes in, comes out.
1. Banks do not want to be involved with risk because it's costly and time consuming and they also would rather not be associated with gambling.
2. The chances of fraud, KYC & AML issues and chargebacks are much higher in these industries, causing additional headaches for the payment providers and banks.
Our partners not only offer payment solutions for our clients, they also improve our offering with quicker processing and reduced fees for products such as bank accounts, Bitcoin brokerage and international FX.
Take a look around the complete offering from Payed and find out how we can help your business begin trading online in just 7 days.
