Gambling Merchant Account
Best Solutions For Your Online Gambling Business. Price and service with the most understanding for you.
WE SUPPORT THE FOLLOWING GAMBLING TYPES:
Pricing / Fees
Fees will be affected by various factors like processing history, method of sales, countries, sales volume and products. Hence, fees for every merchant will be unique. However, terms will remain same for most. Below is a list of fees involved.
Fasto is your best choice to help you.
Fasto provides the best support and always ready to help.
We understand your needs and business like no other and we will work above and beyond for you, and to get you the best terms. And we have the solutions you need.
Fasto offers payment processing in Europe, therefore the merchant has to have a European company plus fulfill requirements needed thereto which includes having European issued gaming/gambling license.
Alternate licenses: Gibraltar, Alderney, the Isle of Man and Curacao.
Your merchant account will be categorized as 7995 MCC, which will help the payment processor(s) identify the transactions and implement the laws.
We have a restriction policy to comply with local laws in gambling. Following countries are blocked or restricted:
Brazil, China, Hungary, Hong Kong, Iceland, Israel, Japan, Lithuania, the Netherlands, Norway, Poland, Singapore, South Korea, Switzerland, Turkey and the USA (Unless providing local licenses).
Popular types of gambling: Gaming Machines/Poker, Lottery, Online/Offline casinos, Sports betting, Skill based gambling. And these are estimated to increase 8% annually on a worldwide basis.
One-stop-shop for your online gambling business. Bespoke solutions for comfortable payment acceptance.
Gambling Merchant Acquiring
One of the first things needed for you as a merchant is to obtain a gambling merchant account, in order to process and bill your customers. This can be done locally or via a worldwide solution.
Different things like pricing and terms changes depending on whether or not it is a start-up or a ongoing project which currently accepts payments on the website / app. When it comes to your business being a start-up, it will come with a rolling reserve of usually 10% and it will mean “worse” terms but we try to stay competitive and help you get started cheapest possible.
If you are doing sports-betting, gaming machines, poker, online casino, lottery or similar, you will need a license either local or foreign. With a local license, the terms and pricing will be more compelling. We do accept licenses worldwide which includes Malta, Cyprus, United Kingdom or locally like Denmark. We can also support Curacao which is the fastest growing license, but these licenses comes with higher cost and longer approval time.
In order to serve a local or worldwide audience, you need solutions and the first one as always will be credit card processing which contains Visa, Mastercard and depending on markets more. This is the standard choice for all as it is most wellknown.
Local and Alternative payment methods is growing massively with some expecting more than 1000%+ growth over the next five years, again it depends on markets but a few of the ones we can mention there is SoFort, Crypto, Klarna, SEPA and many more.
The more solutions you have available at the checkout the higher the conversion rate will be and the happier your customers will be to come back and spend again.
The main risks within the gambling sector are money-laundering, fraud and regulation. Gambling products could be used for money transfer between people colluding with one another and/or with the house.
Also included in the risk overview there is the high probability for chargebacks due to losses from their customers but we have solutions to help prevent these.