Gaming is not only proving itself an entertainment medium but also a medium to improve an individual's mental health. In a study by Microsoft and the Xbox Research Accessibility Community Feedback Program, it was found that 71% of participants felt less alone as a result of playing games, and 84% of participants agreed that Gaming had a positive impact on their mental health during the previous year.
The Gaming industry is considered a high-risk business due to several factors. Being a high-risk gaming merchant, you need to have a specialized gaming merchant account comprising all the features of a high-risk merchant account as well as customization according to the gaming industry.
Let's Have a Glance at How a Payment Service Provider helps Gaming Merchant
First of all, let's see what a payment service provider is:
A payment service provider (PSP), sometimes referred to as a merchant account provider, is an entity that provides you with payment solutions for your business. It helps businesses accept various online payment methods, including cash cards, credit cards, debit cards, online banking, automatic clearing house, cryptocurrency, and e-wallet. PSPs ensure that consumer transactions are completed safely and securely from end to end.
A PSP connects with numerous banks, payment systems, and card networks like Visa, Mastercard, etc. Using a PSP, the merchant may manage bank accounts and connections to the outside network, reducing the merchant's reliance on financial institutions to handle transactions.
Secondly, you must be thinking, why do merchants need a PSP when there are several Banks?
The main reason for choosing a PSP is because your business is considered a high-risk by Banks and other traditional financial institutes. They do not provide services to high-risk companies. A business can be regarded as high-risk due to several reasons, including the chargeback issue, high-volume transactions, suspicious money laundering, fraud, business type, multiple currencies transactions, industry type and region of business, etc. Here, PSP comes into the picture; it offers its services to almost every industry and business despite sector treated as a high-risk. PSPs have a sophisticated mechanism to solve every problem of high-risk sectors, and they also avail customized merchant accounts according to the need of industries.
Importance of Specialised Gaming Merchant Account that consists of both High-Risk and Gaming Industry Features
You know that your gaming business is high-risk, and you need a high-risk merchant account. But is it enough to have a high-risk merchant account? What if a PSP provides you high-risk merchant account customized according to the gaming industry, a specialized Gaming Merchant Account? Which one do you choose? Obviously, the second one is because this account has all the features of a high-risk merchant account and customization according to the gaming industry.
It'll be user-friendly for gamers to make payments on a merchant site or app with these kinds of specialized accounts. But not all PSP provides these accounts. Only a few are in the market in which PayCly is leading in the gaming sector; its checkout page also can have your gaming theme, which shows its ability and proves it to be the best Gaming Merchant Account.
- It consists of the High-Risk Payment Gateway, which has state-of-the-art security technology, including 3D security, AVS & CVV checker, fraud scoring, highly futuristic chargeback prevention tools, and tokenization. It safeguards you from any fraud with the latest technology.
- It facilitates merchants to accept payment in any currency as the online game can be played from anywhere.
- It also provides the facility to accept payment by any payment mode, including credit or debit card, digital wallet, and cryptocurrency.
- It provides you the multilingual support for the checkout page, which means if your gamer is from English speaking country, then the checkout page will be in English. If the player is from another country, it'll auto-adopt the language of that country to make the experience user-friendly.
- Specialized gaming account integration is accessible with every game. Whatever functions you need will be efficiently delivered to you.
- The checkout page can be customized according to your gaming theme.
- A gaming merchant account also allows you to accept cross-border payments by providing you with International Payment Gateway.
- Countries have different rules and regulations, but a specialized payment gateway facilitates payment gateways according to the specified regions, e.g., Payment gateway for Malaysia, Payment gateway for Indonesia, Payment gateway for Thailand, Payment gateway for Singapore, Payment gateway for Europe, Payment gateway for Africa, Payment gateway for the USA etc.
We've seen the significance of a specialized Gaming Merchant Account for a gaming business that must consist of high-risk and gaming industries features. A PSP is the only solution for high-risk businesses, as banks will not provide its services for the sector. If you are looking for the best payment solution for your gaming business, then PayCly can assist you with its specialized Gaming Merchant Account that has all the features of a High-Risk Merchant Account and Gaming. For further info, kindly visit us at paycly.com
Frequently Asked Questions (FAQ)
What are your industry-specific Merchant Accounts?
Fundamentally, these accounts are developed for high-risk businesses to secure them from excessive fraud and chargebacks. The industry-specific merchant account means accounts with characteristics of the industry (casino, forex, sex toys, dating, escort, etc.) and a high-risk merchant account. Feedback from our merchant told us that these accounts had become the first choice for all the merchants they refer to.
What other Payment Solutions does PayCly offer aside from Gaming Merchant Accounts?
PayCly provides you with each & every payment solution for your online business. We have assembled some state-of-the-art merchant accounts with a blend of high-risk merchant accounts & international payment gateway so that you can grow your business globally.