Industries
Sports Betting Merchant Account
Since sports betting was legalized in 2018, it has been a booming industry. However, finding a payment processor that will give you a gaming merchant account can be difficult. That's because online gambling merchants, from sports betting to online poker, are considered high-risk. Zen Payments is the partner you want to work with because:
- We have over 15 years of experience working with online gambling businesses and other high-risk industries
- We specialize in sports betting. We'll get you set up with an online gambling merchant account so your online gambling site can start working with accepting payments from customers.
- Have a 98% approval rating
- Offer chargeback mitigation services
WHY MANY CREDIT CARD PROCESSORS DON'T WORK
WITH HIGH-RISK MERCHANTS
Online gambling companies typically find it difficult to find credit card processing solutions and merchant accounts. That's because payment processors have deemed online gambling operators as high-risk. Online casino esports, sports betting, and fantasy sports merchants should count on being considered high-risk because they are in a high-risk industry.
A high-risk company is one that payment processors are hesitant to work with because of additional risk. There are many reasons why online businesses and industries become labeled high-risk. These reasons include high susceptibility to fraud or illegal activity, industry regulations, a high chargeback ratio, or a large amount of total returns. Other factors can also include the business owner's credit score or a company's lack of credit history.
WHY ARE ONLINE GAMBLING COMPANIES CONSIDERED HIGH-RISK
BY MERCHANT ACCOUNT PROVIDERS?
Sports betting and other online gambling businesses are considered high-risk because these merchants often see the following:
- Chargebacks: Online gaming sees a higher-than-normal chargeback ratio
- Fraud and Money Laundering: There is a higher risk of fraud and money laundering, especially because gambling businesses are often based offshore.
- High Refund Rates: Similar to chargebacks, a high refund rate increases the risk for payment processors.
- High Turnover: Customers turn over more quickly than a traditional business.
Traditional credit card processing companies are hesitant to take on the risk that comes with high fraud, refund rates, turnover, and chargeback ratios.
WHAT THIS MEANS FOR
ONLINE GAMBLING MERCHANT ACCOUNTS
That's why online gambling merchants need to set up online gambling merchant accounts to accept payments. While most banks won't approve you, high-risk merchants are typically the place to turn for gambling payment processing because they have experience in the industry and are comfortable with the risk.
Zen Payments is one of these merchants! We'll get you set up with a custom gaming merchant account that works for your business.
ACCEPT CREDIT CARDS
ONLINE
To facilitate payouts and accept credit card payments online, you'll need an online gaming merchant account, payment processing, and a secure payment gateway.
Zen Payments can take care of everything! We'll work with you to create custom gambling payment processing solutions and a merchant account that works for your business. We work with merchants that offer all kinds of online gambling, including:
- Online bingo fantasy games
- Online poker
- Sports betting
- eSports
- Social betting
- Online fantasy sports
- Online lottery
- Live betting
- Live table games
- All other types of games of chance
GET SETUP WITH
SECURE PAYMENT GATEWAYS
To start processing payments securely, a payment gateway is key. It will allow you to ensure credit card information is secure and delivered accurately as you accept deposits and payments.
At Zen Payments, we bring years of expertise in setting up merchant accounts and payment gateways for online gambling businesses. With a wide range of options and partnerships with over a dozen financial institutions, we can match your business with the ideal merchant account and payment gateway. For online gambling merchant accounts and payment processing, Zen Payments is the trusted choice.
CHOOSE A GAMBLING MERCHANT ACCOUNT
WITH LONG-TERM STABILITY
The underwriting process is also extremely important when it comes to setting up gambling merchant accounts that you can count on long-term. Some high-risk merchant account providers offer instant approval, which seems great because you can accept payments and make transactions more quickly. However, these companies skip the formal underwriting step initially, meaning you're at risk of losing the account or having your funds placed on hold once they look into it more deeply.
At Zen Payments, we'll get you set up with your gambling merchant account quickly, but we always go through the formal underwriting process before approval.
HOW CAN I OBTAIN A HIGH-RISK
ONLINE GAMBLING MERCHANT ACCOUNT?
We make it easy to obtain a gambling merchant account if you need one to accept transactions. First, we'll work with you to create a custom payment processing solution based on your business needs, whether you run a fantasy sports or online casino business.
Next, you'll go through our application process, which includes a formal underwriting process. With our 98% acceptance rate, you can relax as we guide you through the application and underwriting process. Once approved, we'll assist you in setting up your merchant account, ensuring you're ready for credit card processing in no time!
WHY CHOOSE ZEN PAYMENTS AS YOUR
ONLINE GAMBLING ACCOUNT PROVIDER?
Zen Payments has been providing gambling merchant accounts to companies with a gambling license for years. We have the industry expertise to get you set up with custom payment processing solutions, including connecting you with a payment processor, setting up a high-risk merchant account, and everything else you need to start accepting credit cards online.
We pride ourselves on offering better than competitive rates so that you can maximize your revenue from fantasy sports and casino games. If you need high-risk payment processing and merchant services, there's no better company to work with.
We also have relationships with over 15 financial institutions, including high-risk banks who are accustomed to working with sports betting and gambling companies. We'll find the perfect bank or financial partner for you and get your gambling merchant account set up.
Get Started Today!Top Benefits of Partnering
With Zen Payments
We Partner With Over 15 Financial Institutions
We partner with a vast network of over 15 banks and other financial institutions. This allows us to provide custom gambling merchant accounts and payment processing solutions for your business. We are dedicated to securing competitive rates for payment processing services that fulfill your long-term requirements.
High Approval Rates
We pride ourselves on our service to all businesses so that they can succeed in the marketplace. We are offer some of the highest approval rates in the industry, with a 98% approval rate for account services. This includes support for business owners with credit scores of 500 or lower.
Chargeback Prevention Tools
Our retail POS systems are specifically designed to minimize chargebacks that result in the reversal of credit card funds to your business. They help combat fraud and reduce incidents where sales are processed without sufficient buyer funds. Furthermore, you'll have all the necessary information to effectively dispute chargebacks. Chargeback prevention tools are essential in this high-risk industry.
Compatibility with All Major Credit Card Providers
Our merchant accounts allow you to accept all major credit cards, including Visa, MasterCard, American Express, and Discover. You can also accept additional forms of payment, including EBT, gift cards, PIN-debit cards, and e-checks.
Reliable Customer Service
If you encounter a technical issue or have questions about your vape merchant account, we're here to help. Our knowledgeable customer service team is available by phone during regular business hours and via email 24/7. If we don't have an immediate answer, we'll quickly find it for you.
Need a merchant
Account?
If you're seeking a payment processing platform that can positively impact your business, Zen Payments is here to assist. Get started today by contacting us online or calling our merchant services specialists at 844-661-0725. We'll get you approved quickly so you can accept online donations within a couple of days.
Apply Now
sales@zenpayments.com
(877)-511-3402
