Online casinos can be a profitable business, but provide plenty of challenges when seeking a suitable payment solution and platform. Many companies in the gambling payment business agree that it is a gray area to consider, thus covering the associated risk with high fees. Indeed, of many online payment gateway spaces available, online casinos will have higher payment rates.
The list of online payment gateway systems grows faster every day, as in any other lucrative space. Companies such as Finateco, which are innovating in the gambling payment direction and other associated services, are attracting big partners in the high-risk space. Here is the list of companies to collaborate with when running a gambling business and looking for partners.
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High-risk services, such as gambling, exist in a gray area, which has become easier to navigate because of the highly innovative FinTech space. Finateco exists to help people in the gambling industry, and it was one of the first companies to work with more than one bank to help the client. Finateco excels at offering payment solutions to casino websites, and financial solutions for diverse businesses that require a reliable payment system.
The payment system created by Finateco has an API that supports multiple payments, making it easy to process money online. It also has invoice-creating software that accomplishes the invoicing work on behalf of the business. The impressive multi-currency processing software makes it easier for gambling businesses globally to receive their money in real-time.
Payspace is on this list because of the efficient infrastructure that optimizes the available financial tech, fine-tuning it for businesses all over the world. The payment solution works for large-volume business finance needs, such as big online casinos.
To get started, a business needs to fill out a standard online merchant account form stating the level of risk and the type of partnership desired. High-risk financial instruments require special treatment than ordinary businesses. However, unlike most payment gateway online, Payspace makes the initiation process easy. Some areas Payscape covers include casino services, online dating, escort services, and online gaming.
Transaction fees for high-risk businesses are higher than for other services. Payspace follows a similar principle, but the charges will not go beyond 2 percent of the money transacted.
3. Payment Cloud
Also, in the high-risk transaction business, Payment Cloud fits unique services for its entire clientele. It has a simple UI for easy navigation, which is a plus in the complicated online space.
Payment Cloud services go beyond finances because of their state-of-the-art tools to prevent fraud and cost analysis solutions to help minimize money used transacting online. The software works out the best and cheapest way to clear won bets and other high-risk financial activities online.
In the financial scope, the business has a check processing system that works simultaneously with fraud prevention tools. The tools will eliminate deliberate errors made by rogue clients, which is a plus in the wake of increasing fraud. Gambling sites and other high-risk businesses in the financial domain online also have many barriers when seeking funding. Payment Cloud has many partners in the financial construct that work for organizations not well regarded by other financiers.
4. SMB Global
In the online space, having the correct distinction of the type of services offered is the first step toward success. SMB global helps make this analysis, and the good news is that it does not turn away potentially high-risk partners. The payment gateway solution solves the problem of finding a working payment solution that onboards new clients faster.
SMB global has about 15 partner banks that work to support the merchant accounts created, meaning faster processing time for clients. Further, casino businesses that require multi-currency processing solutions can also use APIs created by the payment solution for the same services.
Finding the right partner to support a business designated high risk is a pain. Many online platforms claim to be the best. However, for any business to flourish online, security, speed, and reliability should be the top priority. Of the listed payment solutions in this article, Finateco stands out, as it covers all the fears an online business such as a casino might have.