How Do Online Payment Providers Enhance Subscription Gaming Experience For Users?

The video game industry is a booming sector, and it has established landmarks in the past few years, especially during pandemics. The sector’s revenue is expected to reach US$175.10bn by the end of 2022. It is already doing good and will make a more significant profit in the coming years. We cannot miss mentioning that a considerable part of this income comes from subscription-based customers. Is it not an exaggeration to say that the video gaming sector earns a lot on subscription-based games? Certainly no.

The subscription facility makes online payments more convenient because both the customer and the merchant work in a predictable atmosphere. Are you also a gaming business owner? If yes, this blog will reveal how online payment providers process subscription-based payments for the merchants. Many business owners do not understand the technicalities of this payment method, but it is good to stay informed because payment methods get them paid.

What is Subscription-Based Gaming?

In subscription-based gaming, users pay a decided monthly or annual fee in exchange for a catalog of games. The customers usually get reasonable offers and discounts on subscriptions because they buy something in bulk. Otherwise, they have to pay individually for every game, which increases their overall cost if they buy four to five games.

Subscription-based gaming is a usual preference for players because it saves time and money. The users do not need to search for new games and pay for them repeatedly. It should not sound odd that it is only payment solutions that made subscription gaming possible in the world today. If you have made people pay for a bunch of games, they are willing to subscribe to your service. Due to more innovative payment solutions today, every video gaming business holds the capacity to grow despite tough competition. Today, gaming is not only about entertainment; it has also become a platform to give messages and spread social awareness. People are willing to pay through their desired payment methods to play and spread the good message. Whether it is environmental protection or several safety rules, gaming entertainingly teaches many things.

The role of online payment gateway service providers is quite critical because the gaming industry is high-risk. For transaction safety, a complete network between the merchant and the merchant account is vital, and the payment gateway works as a bridge between these two. Money cannot travel without a payment gateway.

Gaming online payment providers, first of all, scrutinize the payment priorities of the customers in the area targeted by the merchant. According to global research, alternative payment methods and digital wallets are the most preferred ways for gaming players. According to these choices, the payment gateways customize and design payment solutions for the merchants. The regulations and laws in varied countries may cause variance in the payment solutions. For example — some countries charge heavy taxes from high-risk gaming merchants compared to other nations.

The account updater tool is an added facility provided by online card payment providers for customers who use credit or debit cards. The updater sends timely notifications about the expired credit cards of the customers. This tool supports in smooth implementation of subscription-based gaming offers. It helps the merchant stay updated and send related notifications to the customers. The updater tool reduces the chances of payment delay because the players get reminders about their credit card expiry date. Also, it is possible to maintain cash flow which in turn gives stability to the business.

The PCI-DSS shield is another factor that creates a strong and secure network for daily bulk transactions subscribed by the customers. Players do not want to waste even a second in making micro-transactions, so they need speedy payments. Subscribed games not only give them a month-long time to play hassle-free but also ensure smooth payments when the subscription ends.

As you can see, the role of a payment gateway company is quite important; you should make an intelligent selection. Do the due research before you finalize the best online payment provider for your gaming business. The monthly transaction fee, setup fee, and transaction speed should be confirmed. EskayPay free setup for gaming merchants is well-known due to its uncompromised services. Online gaming payment gateways have enhanced a lot according to the industry needs, and today merchants have all sorts of payment options.

Merchants should not forget that the payment system provided by a gaming business can influence the consumer experience. To attract more players, a company should align the payment demand of the players. Different billing models and in-game purchases give rise to subscriptions and, in turn, profit for the merchants. But to make all this happen, it is essential to have an efficient payment gateway. Whether gaming or any business, a merchant should always seek ways to provide the best consumer experience. However, it is different that people have varied priorities in various industries. In fashion, people may not want durability, but they want things to be trendy. But payment experience is common in every sector.

Facts that Reveal How Fast the Video Gaming Industry is Growing

Although we all know that the gaming industry has the caliber and is destined to grow, a glance at data-based growth can help you get a precise idea about its future.

Between 2022–2026 the expected annual growth of video gaming is 8.17%.
User penetration will increase from 35% in 2022 to 40.6%. in 2026.
By 2026, there can be 3,197.7m video game users.
Mobile gaming is the largest sector in 2022, with a market share of US$124.90bn.
US$62.97 is the expected average revenue per user in 2022.

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Conclusion

Online payment gateway providers are saviors because they provide a flourishing atmosphere for high-risk gaming merchants through payment solutions. A merchant gets everything from giving a free gateway setup to offering protection from fraud. EskayPay gaming payment gateway with a global presence helps connect merchants to international customers through efficient subscription-based gaming. Contact Now to get paid by your customers with industry-based security standards. The coming years are quite profitable for the gaming industry, and it is high time to choose the right online payment provider for your business.

What is Subscription-Based Gaming?

Facts that Reveal How Fast the Video Gaming Industry is Growing

Although we all know that the gaming industry has the caliber and is destined to grow, a glance at data-based growth can help you get a precise idea about its future.

Between 2022–2026 the expected annual growth of video gaming is 8.17%.
User penetration will increase from 35% in 2022 to 40.6%. in 2026.
By 2026, there can be 3,197.7m video game users.
Mobile gaming is the largest sector in 2022, with a market share of US$124.90bn.
US$62.97 is the expected average revenue per user in 2022.

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Conclusion

Forex Merchant Accounts Through Frequently Asked Questions

A forex merchant account is a supportive tool for forex merchants because it has many benefits. However, the issue is of ignorance because even today, business owners are unaware of many things after the popularity of forex merchant account services. Still, the acquirers and payment solution providers receive many questions. But it is good to ask questions because they always help gain clarity even on the most complicated topics. Due to uncertain conditions after the pandemic and the new fear of monkeypox in some popular economies, the merchants are worried again. It is relieving for them to give answers to their questions.

Here are the answers to some of the most frequently asked questions –

Why Does a Merchant Require a Forex Merchant Account?

Forex business is a high-risk business, and conventional banks do not provide any bank account to the merchants to receive customers’ payments. As a result, they need to have a commercial version in another bank that offers high-risk forex merchant accounts

The money from customers’ bank accounts comes directly into this account. Without having this account, no forex merchant can even start doing business because having a commercial arrangement to receive payments is part of the basic setup. Also, the payment gateways do not offer solutions to high-risk merchants if a forex business does not have a merchant account.

For every high-risk business, a forex merchant account is the first of the most critical need. If you are still struggling to get one, do not forget to know about the related formalities. Many merchants lose their chance to get approval because they do not complete the documentation at the first chance. It happens either due to ignorance or carelessness.

What Do I Need To Get a Forex Merchant Account?

Many factors may cause variance in answer to this question. Location, monthly transaction volume, company size, etc., are conditional factors that leave the potential impact on required formalities for the account.

For example, if you are a forex merchant from Europe, your presence in this region is vital, and foreign exchange should be regulated. The merchant needs to have a legal headquarter. The proof or earnings need to be presented to the acquirer, and this earning should be regular. A high-risk business cannot afford to have irregular income because that steals the opportunity to qualify for the merchant account.

A processing history of a minimum of 3 to 6 months and a low chargeback rate are necessary. If you don’t have any processing history, you must ensure the acquiring bank knows about your safe checkout process for customers. Installing a 3D secure process can prove that you are ready to do the business responsibly. Having professional forex payment solutions is a necessary condition for the merchants.

How Much Can My Clients Deposit Through My Merchant Account?

A decided amount cannot be mentioned on the deposit because many conditions affect this decision. You cannot always determine the deposit limit you want to offer to your traders. Some forex traders may have several choices, but some may not have many due to varied factors.

Typically significant factors that affect your customer’s choice of deposit are – the country of origin, the financial limit of the customer to deposit, and potential security issues. The native land of the forex trader and the regulations and legal institutions you work with affect the amount limit.

Not every country can give liberal access to the global financial system. In some countries, strict international sanctions apply. Maybe they have recurring terrorism or drug trafficking issues. In such countries, a customer cannot deposit the desired amount through the merchant account. The national rule also affects the payment method. In some locations of the world, a merchant may not be able to allow credit card payments, and bank wires can be safer.

As a merchant, you can always decide the limits for the customers from specific countries if you feel concerned about their national conditions. But for, the rest of the customers from different nations usually have more choice in the deposit amount. However, a minimum limit is always applicable. You cannot operate a business without following the rules for forex trading merchant account transactions in every country you deal with.

Conclusion

After answering the above questions, you must have clarified many essential aspects of the forex merchant account. Certainty always helps to run a successful business. Forex trading is already a complicated commercial activity, and numerous national and international rules apply. Today, after the entrance of cryptocurrency, Forex has become more focused on legal institutions. In such a situation, supporting the proper knowledge and making appropriate business decisions is essential. Eskaypay merchant account and forex payment gateway solutions help operate a successful business. Contact now and get answers to all your questions, and do not waste any time.

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How Does a Casino Merchant Account Help Merchants Improve The Payment Acceptance Rate?

A merchant with a higher payment acceptance rate quickly gets more customers, and this rule is applicable in the case of casino merchants as well. High-risk businesses run on many factors, and higher acceptance rates of customer payment are essential to the business’s success. A casino merchant account that solves many other purposes related to smoother payments also helps improve the success rate of payments. In several ways, this commercial account helps the business owners accept payments from the players quickly and easily.

Easily Understand Payment Habits Of Your Casino Players

Merchant accounts have all the related transaction data that happened in a month. However, the payment gateways too provide the information. But the amount that travels through a casino payment gateway and the one that actually reaches the merchant can be different. That is why the data provided by your acquiring bank (the merchant account bank) is critical.

The casino owners can understand which payment option they choose most: a credit card, crypto payment, or something else. Also, it is possible to know how the payment experience of your casino players is affecting their payment choice. You can scrutinize whether it encourages or discourages a particular method.

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Promote Payment Methods Preferred By Customers

Once you understand what payment methods your customers prefer, you can easily promote them. When you are clear about the casino players’ choice, you can make a promotion strategy. Some merchants promote special offers for existing and new players on a particular payment method. For example, a discount offer on credit card payments to new casino players is a special gift on crypto payments to existing customers. The information received from your merchant account statements is always helpful in promoting the most desirable payment platform.

A lot can be done in the name of improvement by promoting preferred payment methods. Also, it helps a lot in getting closer to the minds of your customers. A business that can get an insight into the minds of its users always gets successful; in fact, it can earn a lot of money with this simple secret. Consumers tell a lot through their payment behavior; you can plan your future business promotion plans accordingly. It may even help launch a new service or reward scheme for casino users.

Simply Compare Payment Data With Benchmark Acceptance Rate Through Acquirer’s Existing Industry Data

Every acquiring bank has existing clients from your industry. As a casino merchant account, you are not the only customer of your merchant account provider. The online casino merchant account providers have many clients and essential customer data. Using that data, a casino merchant can get to know about the benchmark acceptance rates. A merchant can compare this data from his payment acceptance rates.

The benchmark is different according to the geographical differences. A casino owner can study the data of his target location worldwide. We all know that data is the king today and can give you a realistic insight into customer behavior and market conditions. According to the benchmark acceptance rates, business owners can plan to improve their payment strategy. The effect of market trends and other social and political factors is always visible on these landmark payment acceptance rates. It is very convenient to understand how things have changed in the world of casinos. How and when the players tailored their payment choices.

Efficient Chargeback Management And Higher Payment Acceptance Happen Together

An efficient merchant account solution is the first step toward solid chargeback management. Reduced chargeback issues are essential for high payment acceptance. Can a casino business survive for a long time with a higher rate of chargeback? No, that is not possible. Even if it has a reasonable acceptance rate, with more refund incidents, the business invites many threats. First, it loses its goodwill and then the customers, and then the financial loss happens. The final truth is that you, as a casino merchant, cannot keep going with a high acceptance rate if a chargeback is high.

Don’t we know how strong is the network of the merchant account providers? Fraud detection tools, 3D secured transactions, timely updates of software, and so many other things support merchants. Customers always love the casinos with a lower rate of chargebacks; they find such gambling platforms safer. However, we cannot deny that the gaming payment providers or payment gateways also have an essential role. Without their support, a merchant account cannot ensure completely secured transactions.

Conclusion

The payment acceptance rate has always been a concern for casino merchants. But with the right type of merchant account solution, merchants can easily accept payments. The safety tools that the acquiring banks and payment gateways use give strength and confidence to the casino business. When payment processing happens smoothly, the payment acceptance rates naturally go higher. Futuristic technology of acquirers and payment solution providers offers a predictable atmosphere to do business. The world knows how thoroughly the high-risk businesses need certainty in their circumstances. If you are a casino merchant looking to work on your payment acceptance rate, help is available right here. EskayPay casino merchant solutions and payment gateway services offer your support in payment processing. Get a permanent solution to your temporary but recurring payment processing issues.

How Does Online International Credit Card Processing Support Contactless Payments?

International credit card processing is a progressive step towards digitizing economies and contactless transactions. The past three years have been all about contactless interactions; since then, credit card processing procedures have come into focus. The new ways and technology in which merchants process credit card transactions with customers help the concept of no-contact payments. It is the need of the future era not only for social distancing but also to facilitate a wider reach for the merchants. Merchants and buyers should know how international credit card processing supports and inspires contactless credit card processing.

Contactless Payment Is the Preference of the Customers

Customer is the KING, and the International market and all industries revolve around what their customers want. People today have realized the importance of contactless payments because they are convenient. They can buy things in a few seconds by entering their credit card details on the merchant’s website, and in a short while, the transaction completes successfully.

With the buyers, contactless credit card processing is specifically helpful for new businesses that cannot afford a complete infrastructure. But they have websites where they can receive customer payments at a bearable cost. Transactions without contact empower merchants, customers, and a nation’s whole economy and the international economy. The concept of globalization applies to everything that exists worldwide, including commercial activities. But can this globalization take the correct shape without online and contactless payments? No, certainly not. Can a buyer sitting in the UK buy clothes from an American e-commerce website through a card swapping machine in a store in America? Not possible. That is why online international credit card payment processing took place.

3D Security Gives The Confidence In Uncompromised Safety

One big concern in the case of contactless payments is the safety of transactions. No merchant can compromise on protecting a customer’s money because that will be the first step toward destruction. 3D safety rules that come under the regulations of PCI-DSS give a strong shield against the threats of data infringement, hacking, etc. Payment completes only after a buyer sends a verification code. It makes the buyers responsible for their buying behavior and reduces the chances of chargebacks. Customers get a good payment experience while making a transaction with the merchant.

Credit card processing backed up by 3D safety standards can never go wrong. The high-risk merchants are specifically happy with the contactless credit card transactions. Since 2019, the world has changed significantly, and consumer behavior has changed. People have understood the importance of convenience that no contact transactions offer. Most people have considerably reduced their cash and in-store credit card payments. After covid-19, 31% of buyers have changed their payment priorities from a cash or check to contactless online payments.

The simpler and faster checkout process

With the help of international credit card processing, merchants can ensure faster checkout for customers. Varied types of technologies and tools work behind the speedy transaction completion. POS integrated payments and implementation of various checkout and payment preferences are the primary support technologies. Similarly, self-checkout and wireless terminals are also helpful in making contactless payments happen.

Buyers are happy when they buy their favorite things and pay quickly. Delayed or lingering payment methods are nothing but a waste of time for customers and a loss of buyers for the merchants. The latter can be destructive to business stability. Not paying attention to the payment checkout process can be suicidal. However, most businesses, especially the high-risk ones, never leave the checkout concern of the buyers unattended. Such companies get approval on their high-risk merchant account only if they have a faster and smoother checkout process.

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Email Receipts Give an Additional Platform For More Sales and Promotion

Contactless payments have not only direct but indirect ways to help merchants earn more. Email receipts are not only convenient but also become a tool for further promotion of products. When a merchant sends the email transaction receipt to a customer after an online credit card processing, it also contains promotional content. He can inform the buyer about the upcoming offers, new product lines, and more. To satisfy the customers and earn more, the merchants love sending email receipts because these emails have so much space to speak about other promotional things.

70% of buyers use emails to exploit the vouchers and discount offers received through email receipts. This, in turn, creates more sales and more profit for the merchants but at the same time serves more satisfaction to the buyers as well. An increase in sales helps in business expansion, which only happens due to contactless payments. Thanks to the latest technological innovations that have made the human world capable of doing things without physical interaction. However, it is not something we have seen for the first time. Don’t we get signals from space? Don’t we do a video call without loved ones over mobile, without touching them but with a feel? These technologies were the hint of coming innovations, and then came the contactless payment magic.

Conclusion

International credit card processing is the first need of the global business, and the commercial entities are happy with it. The only requirement is to keep the safety measures strong because that is the biggest strength of online credit card processing. People have complete trust in their favorite brands and believe that their transactions with the merchant are always safe. The international economy has so much potential to breed profitable businesses, but the ups and downs in the world can affect it. The merchants should try to retain at least the existing customers because the satisfied ones will naturally attract more buyers. If you are looking for a suitable credit card processing or merchant service provider or payment gateway solution, Eskaypay is right here. Payment gateway services are also there. It is possible to make space in the market through high-quality credit card transactions, and we are the best in it.

4 Trends Are Facing In The IPTV Payment Gateway Global Payment Industry

IPTV is already a star in the entertainment world, and it has made cinema halls feel like a dwarf in front of it. People all around the globe enjoy millions of programs and movies of all types and categories and are willing to pay for them through subscriptions. The IPTV merchants are happy about it, but they also must keep a close eye on how the global payment trends are changing. Accordingly, the payment methods vary in every industry because something becomes a trend when customers accept it.

Today, people have different payment priorities. Away from the traditional ways, they have shown their interest and inclination toward the fastest and least payment methods. To keep the users happy and retain them, the merchants follow the payment priorities taking round as the global payment trends. Today, the payment industry can provide innovative payment solutions to merchants from all sectors. IPTV businesses are among the most desperate ones to exploit every relatable opportunity.

Here are some of the latest global trends that IPTV payment gateway companies are following –

1 – Mobile and digital wallets are the influential trends

According to research, mobile wallets can claim around one-third share of global POS transactions, which is 33.4%.

One of the most significant achievements of technology is its mobility, and payment methods are not an exception. Mobile payments and digital wallets are the preferences of the new era. Especially after the pandemic in the past three years, the need for contactless payments has made these two methods more popular. Merchants desperate to make a significant customer base willingly provide mobile and digital wallet payment facilities.

A significant benefit of these methods is the prevention of fraud. No additional device or physical interaction is required for making a payment.

Another study shows that by 2024, digital wallets will account for 51.7% of transaction volume.

The merchants must decide which digital wallets and mobile payments they want to accept because local preferences vary according to geographical differences. According to the mobile and digital wallet payment type, a merchant should choose the IPTV merchant account solutions.

2 – Customer Loyalty Is More Profitable Than Money

Customer loyalty develops through good experience, and the IPTV provider can improve the experience through an enhanced payment system, which is the responsibility of the payment gateway. The payment gateways working for IPTV businesses know that a company that retains its customers is the richest. To improve the overall payment experience, the gateway providers pay attention to uncompromised safety and transaction speed. The merchants have a focus on the digital-first mentality of the customers. They offer rewards and profitable customer loyalty programs to enhance user experience.

In the past three years, only those businesses could survive that were lucky enough to have customers that are loyal to their services. Today, users change their minds in a few seconds and switch to other IPTV platforms. Content is available in a variety on every platform, and it is challenging to retain the users. By providing a good payment experience, the payment gateways try everything to earn customer loyalty for their merchant clients. A loyal customer is the biggest and most precious asset of a commercial entity.

3 – Omnichannel has Gained More Importance

The omnichannel payment system is the new choice of the merchants to provide comfort to the customers. With digitized payment methods getting more critical, omnichannel is the most suitable option for IPTV merchants. It integrates all payment procedures of a company and provides revenue-driving solutions. Businesses are excited to embrace it because it gives the customer a personalized and engaging payment journey.

One prominent condition in omnichannel payment is that the safety measures should be uncompromised because the channel holds fragile customer data. IPTV, already a high-risk business, cannot afford to make any mistake here. While looking for the best payment gateway for IPTV for omnichannel processing, a merchant should always focus on the safety part. It is a synonym for versatile payment industry solutions that are enhanced daily with the help of technology.

4 – Payment Orchestration Is another help to Merchants

New era technology keeps sending new surprises, and businesses know how to exploit them for the benefit of their customers. Payment orchestration, a newcomer but with a stunning entry into the payment industry, offers a better payment journey experience. It connects acquirers, payments processors, and payment gateways (even more than one for a merchant) to facilitate faster transactions.

The market share of payment orchestration is expected to grow by $2 billion by 2025. It is also increasing at an impressive rate of 26.7%. It gives higher payment approvals, a faster and smoother checkout process, and much more. The companies that offer payment orchestration also provide additional security tools while remaining within the industry rules and regulations. The good thing is that this technology is also renowned for handling customer data safely. Merchants can gain the trust of their customers only if they prove reliability in every aspect. The typical buyer of any service or product gives importance to its hard-earned money. A merchant should first make arrangements for a smoother payment processing. A business becomes a brand by providing value-to-money services to the end-users.

Conclusion

IPTV payment gateways are part of a tough race due to the diverse competitors for their merchant clients. To keep the merchants closer to the customers, the payment gateways for IPTV merchants are chasing the latest payment trends. Some trends sound timeless as if they will never change, especially the customer loyalty point.

We all have seen how the market, the world, and the international economy have changed over the centuries. When customers have so many options, available customer loyalty will be the most vital factor in favor of an IPTV service provider. The merchant who has his customer’s loyalty is the king of the market. If you run an IPTV business, staying tuned to the newest wave of payment preferences is best and earning more customers through exemplary service.

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How Does An Offshore Payment Gateway Drive Value To The Merchants?

Offshore payment gateways are vital for international business. The ambitious business owners are insecure due to the demanding international market. They have so many expectations from their payment gateways. They depend on them for the most important thing of their business: payment processing. Proficient payment gateway services are vital to keeping a hold on the customers, getting new customers, and expanding business in a new place. The good thing is that payment gateway too are one step ahead in providing satisfying the needs of the merchants.

Through advanced ways, every offshore payment gateway provides the best possible services to businesses from varied industries. Whether it is a low-risk, medium-risk, or high-risk business, processing has developed with the help of new technology. It will be interesting to know varied factors that drive growth in industries through payment gateways.

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Customer vault for recurring payments by global customers

The customer vault offered by offshore payment gateways provides the facility to store the customer’s payment data. The data is stored safely in PCI compliant environment. The customer does not need to enter his payment details repeatedly while making a payment every time. The merchant can also secure the data to scrutinize customer behavior and make essential decisions for the business. This feature is specifically helpful for the merchants with a high-risk offshore merchant account for safer high-risk credit card processing. Risky companies are always prone to safety threats, but not with PCI-compliant customer vault facilities. The majority of the payment gateway technologies are destined to take care of the safety of customer data and smoother money transfers. Customer vault simplifies things for the merchants and helps them give their customers a good experience.

Electronic invoicing for efficient offshore processing

Due to the multiple benefits of electronic invoicing, a global payment gateway provides it as a primary facility with its payment processing services. Better account reconciliation, faster payment cash flow, reduced costs, increased productivity, customer satisfaction, fewer disputes, rejected invoices, etc. Online businesses cannot survive today without e-invoice services. It not only saves time but also saves the environment. This era is all about the transformation of traditional economies into digitized economies. Electronic invoicing is a vital feature that all payment gateway companies keep and offer to the merchants. EskaypayOffshore payment processingservices keep its merchants updated with the latest payment processing technology.

iProcess Mobile Payments Give a Speed To Payments

All industries know the importance of iProcess mobile payments in earning profit. They facilitate many other things that merchants need for daily smooth operations. It makes mobile and tablet device payments convenient and smooth. Through mobile applications made for Android and Apple, the customer can make payments. It has many other benefits. You can easily capture digital signatures; payment receipts can be emailed, full or partial refunds can be performed, etc. We all know that mobile payments are the smartest and the fastest way to get paid. International customers want convenience, and mobile payments offer that comfort. The businesses like global online casinos, e-commerce, and forex trading find mobile payments significant. These are high-risk industries and want to keep the payments handy for the customers to grow and expand the business financially.

P2P Encryption reduces offshore payment complexities

The international payment gateway companies have to be committed to transaction safety concerns of the businesses. Every merchant commits transparency to its customers. Encryption provides both and makes business operations smooth. The P2P, point-to-point Encryption in the payment gateway systems ensures data safety. There is no more fear of data infringement and identity theft. The security compliance cost reduces, as also the cardholder data fraud. Also, it reduces software development costs, which saves money for the merchant. Encrypted data becomes useless for the fraudsters, as then they cannot make easy access. No merchant can ever think of compromising the safety of data it receives when customers make payments. Today when social media platforms encrypt messages, how can a payment gateway miss it while handling crucial customer data.

Fraud prevention with no compromise

Every stage in the payment system is safe due to fraud prevention tools enhanced by artificial intelligence. The PCI-DSS shield and automatic level III processing always help the money travel safely in the network. For faster processing, the fraud prevention technology keeps updating because the tricky minds out there keep inventing ways to intrude. When cryptocurrency payments are also allowed by some credit card companies, payment gateways need to work on the latest technology. Developing the payment system according to the changing payment priorities of customers is the need of the hour. The good thing is that the payment industry is already working impressively on that part.

Automatic card updater

Every merchant who wants to avoid service interruption can never say NO to an automatic card updater. If you run a business with serious concerns about credit card payments, an automatic card updater can provide you with a friction-less customer experience. This situation, in turn, improves customer retention because buyers always seek for hassle-free payment experience. You can immediately reduce the incidents of interrupted bill payments. Maintain customer card information accurately and enhance operational efficiency. These small factors positively impact the business growth and give a speed to daily transactions. The result is increased sales and increased profit margins. Isn’t it a big benefit of a card updater? Of course, it is. Many merchants are annoyed with service disruptions due to inefficient data management. But the card account updater is the solution to every problem.

Conclusion

Now you can understand how payment gateways in serve merchants with the latest payment technologies. Businesses grow faster when they can get paid for their products conveniently. After all, this is why a commercial entity exists, and the current era is all about improved technology and customer experience. Whether a start-up owner or the business owner of an established brand, all need proficient payment gateway services. It is not an exaggeration to say that the payment industry has a significant role in inspiring business growth. With a bumpy growth rate in the past three years, multinational businesses desperately need progress. Businesses in a country can bring that progress with a predictable, affordable, and secure payment solution offered by an offshore payment gateway.

What Innovations Do Global Merchant Account Providers Experience Today In e-Commerce?

Despite its tag of high-risk industry, the E-commerce business is flourishing unprecedentedly. The innovations happen every day, and as the customer is the king here too, they are all destined to provide comfort to the buyers. Accordingly, the e-commerce global merchant account providers have to prepare their payment network because both the merchant and merchant account providers need business. Technology is volatile but progressive, and it keeps changing. When it comes to e-commerce, it exists online, and it depends totally on technology. Artificial intelligence and automation are two driving factors that inspire all innovations.

Here are some game-changing innovative changes that have kept merchant account providers updated on the latest trend in the e-commerce sector.

Smoother Checkout Experience

Today, the e-commerce merchant account service providers and payment gateways work collectively for smoother checkout in payment. Today, customers are informed and want only the best and fastest shopping experience. As a result, the merchants look for a perfect duo of an international merchant account provider and a global payment gateway provider to make it happen.

The one-page checkout process in online retail has become a timeless trend. Strong encryption and fraud prevention tools have made merchants confident. A whole infrastructure provided by the merchant solution and payment solution company keeps the payments smooth and fast. Online stores can never flourish if the customers’ payment experience is not good.

Omnichannel Payments Help Merchant Account Providers Serve Better

The omnichannel payment system merges all the payment methods of a merchant and shows interaction history with a customer. All records are readily available whether a customer has purchased a product or wants to return it to the merchant. The acquiring bank (merchant account provider) and the payment gateway prepare customized payment solutions accordingly. The e-commerce sector has many possibilities merchants can explore only through smooth payment services.

When customers are happy, they shop more, and the incidents of cart abandonment reduce. With the help of acquiring banks, a merchant works on revenue-driven solutions through Omni channel solutions. The role of a bridge for safer money travel is done by the international payment gateway that gives 24×7 technical support.

Virtual Terminal Supported By Merchant Accounts Inspires Business Growth

A web-based payment application lets a merchant accept debit or credit card payments without any conventional credit card terminal. With virtual processing, the merchants get additional benefits of free shopping cart integration and the option of recurring billing. Businesses exploit all the benefits of virtual terminals. To get this payment mode, a merchant needs an efficient merchant account and a payment processor. A virtual terminal is the best if any company wants global payments integrated without dependence on traditional credit card terminals.

For sure, safety is always an essential part of virtual terminal payment methods. The duo of merchant account and payment solutions can satisfyingly provide safety measures according to industry standards. The already implemented PCI-DSS standards help businesses stay stress-free about safety concerns.

Recurring Payments Prove Profitable For Merchants

Recurring payments help businesses in many ways, and a merchant account is a vital element in getting repeated payments from a customer. It has inspired many profitable trends in the e-commerce industry, affecting consumer behavior in the merchant’s favor. It is the reason that e-commerce chases recurring payment systems. It is vital for these businesses because shoppers keep coming to buy their favorite things.

The recurring method helps businesses in three different ways. First, merchants can grow business with subscriptions, predictable cash flow, simple payments that improve customer loyalty, and much more. However, not all merchants embrace it because, in recurring revenues, they enter bill details manually. But still, it is a progressive way to get paid. It is also beneficial for the customers in many ways. Send automated receipts via mail or text, and easily update payment methods.

Gift Card – The Loyalty Strategy Of Merchants Is Not Unfamiliar To Acquirers

Business owners have many benefits from gift cards and loyalty programs. It is mutually beneficial for the customers and merchants. Gift cards build brand awareness; they help collect more holiday sales, and consumers can easily use digital wallets and improve customer engagement. Now, you can see that at the point where it is connecting to digital wallets or any payment mode, merchant accounts become vital. Gift cards are trendy, especially during the festive season, and e-commerce deals are full of gift cards or customer loyalty programs. In the zeal of festivals, buyers also respond to such offers. Satisfying as well as amazing deals immediately attract the attention of the buyers.

A business owner can collect valuable customer data that the merchants can use to create more sales. Whether it is about promotion or research to judge consumer behavior, this data is precious. Gift cards improve cash flow because they help generate immediate income. Selling gift cards is a smart strategy to make merchants earn faster and cause excitement in customers. Merchant account providers know merchants’ priorities and provide payment solutions accordingly. Industry can be identical, but every merchant may have varied payment methods, and acquiring banks must create a payment infrastructure accordingly.

Conclusion

Global merchant account providers are most important for a merchant, especially high-risk business owners. Without them, a business cannot get paid by its customers and thus cannot survive. But at the same time, these merchant account providers must keep updating their technology and payment systems. They must also act according to consumer behavior in the international and local markets. Businesses want to make a reach in both fields. They must be the next-door neighbor in the local market for the customers. Also, the merchants wish to be present for the international and existing and new customers. To make easy payments happen, the global merchant account is vital.

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How Does International Payment Gateway Integration Work?

International payment gateways play a significant role in business stability, and every merchant must know about it altogether. Everything is essential, from required formalities for integration to the actual technical process behind it. Are you a merchant? If yes, the information below in this blog will be beneficial for you. Knowing the integration process helps a merchant find a suitable payment gateway.

Mostly the merchants know nothing about the technicalities of international payment gateway integration. But knowledge is the root of business success, and business owners should know everything about payment processing. After all, that is essential to get paid for their services and products and grow in the right direction.

Documents Required To Integrate An International Payment Gateway

The first part of integration is the formality part, without which it is not possible to start receiving payments.

Certification of incorporation
Commercial license of the company
Verified address proof of company office
Memorandum of association with the payment gateway (Agreement of contract in simple words)
Bank statements of a functional commercial bank account

Varied Parties Included In Payment Gateway Integration

A payment gateway integration happens through a network that joins varied ends. Before you know how things work in a payment integration, you should know the varied ends included in the payment processing. After all, a payment cannot reach a merchant without these ends.

Cardholder
Merchant website
Payment gateway
Merchant account bank
Credit/debit card network
Cardholder issuing bank

Actual Technicalities Behind International Payment Gateway Integration

The payment gateway for international payments works in a highly proficient manner. Many technical processes go behind the payment processing that looks simpler to the world. Let us get a bit deep into how things work in the payment processing network. This network makes integration possible and then operational for a merchant.

The customer initiates the payment after giving an order on the website. He presses the ‘pay now’ option or enters his card details to initiate payment.

The customer’s web browser sends the payment data to the merchant’s web server, which is done through encryption. This information travels through a payment gateway. If the merchant gives consent, the payment gateway can directly send the customer details to its (payment gateway) platform bypassing the merchant’s browser. This facility lessens the merchant’s responsibility on the part of PCI-DSS compliance.

If the customer data is sent to the merchant, then the merchant’s browser sends the data to the payment gateway. After this, the transaction information is sent to the card association, for example, Visa/Master card.

The card association then acts as an issuing bank and responds to the payment gateway on the transaction, whether it is approved or declined. After this, the merchant authorizes from his side to authenticate the payment. Without this, the amount cannot reach the completion stage.

After receiving the authorization from the merchant, the issuing bank gives the clearance for the final settlement of the payment. This clearance is sent to the merchant’s acquiring bank through the payment gateway. After this stage, the money travels through the network and reaches the merchant’s account.

Challenges Of International Payment Gateway Integration

An international online payment gateway goes through many challenges during integration. However, a merchant can handle them easily through relatable solutions. Have a look –

High Customer Expectations

The biggest challenge for a merchant because we know the competition is cruel, and customers have many options. If your customers visit the website to make a purchase and feel dissatisfied due to low speed, you may lose customers. But thanks to the artificial intelligence and automation that ensure speedy transactions and keep the customers happy.

Regional Challenges In Multi-Currency Payments

An international online payment gateway must prepare to facilitate payments in native currencies for its merchant client. Regional laws and regulations in every country are different, and the payment service provider has to keep proper knowledge of all of them. The good thing is that today international payment gateways are already more innovative and have all the required arrangements. They facilitate easy payments in every currency and in every country.

Complications Arise With Multiple Payment Gateways

The merchants who need multiple payment gateways have to struggle with the integration part. Many contracts, multiple set-up arrangements, and whatnot cause obstacles. He also needs a merchant account for all these payment gateways. But many payment gateways connect you to the merchant account providers. Besides this, nowadays, some merchants choose one payment solution provider company that provides all types of services, including payment gateway and merchant account. Eskaypay payment solution provider does the same through its extensive network of merchant accounts worldwide.

Long-Term Benefits Of Payment Gateway Integration

A merchant has many benefits of payment gateway integration besides just receiving payments. Have a look at some of the significant advantages.

Hassle-free transactions are the most significant advantage of payment gateway integration. For a merchant, a payment service provider handles all types of complexities. Whether it is about the speed of transactions or the related legalities, everything can be handled by the gateway company.

Increased customer trust attained through proper payment processing helps a business create goodwill in the market. By providing a smooth payment experience, a merchant earns name and profit, which helps sustain success.

Business expansion – Of course, when a business gives a speedy and convenient payment platform to its customers, it can become popular globally. It can reach the customers in new countries. Integration helps in getting payments in multiple currencies and from various countries. Business expansion becomes simpler when a merchant knows he can get paid from the new place quickly.

Conclusion

A global payment gateway integration goes through many stages to ensure the security of the customer’s money of a merchant. For a merchant, it is essential to understand how things work because ignorance keeps them a slave to assistance for every minor issue. A payment gateway supports enlightening its merchant clients about technicalities. It helps get complete cooperation from the merchant. When the businesses know the technicalities of something, it becomes simpler for a payment gateway to work mutually.

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Why Can An Adult Merchant Not Survive Without a Global Merchant Account?

The adult industry is tagged as high-risk, and processing payments and managing global merchant accounts for the business is never a cakewalk. The most significant task can be to get a merchant account; however, things can become more straightforward with a proper understanding of the technicalities. As the merchants have to deal with the international customers and laws, it is vital to maintain the support of knowledge. If you are a merchant, ignorance about the basics and detailed information can be harmful to the stability of the business. In this blog, we will try to get into the nook and cranny of the global merchant account assigned to adult merchants.

What Is An Adult Global Merchant Account?

An adult global merchant account is a commercial account where a merchant receives money from its customers. The money sent through the credit or debit card, mobile payments, etc., reaches this account through a payment gateway. Due to the high-risk nature of the business, the traditional banks do not provide a business account to the merchants. The business owners get an international merchant account by acquiring banks situated in different countries. Adult businesses usually have bulk transactions, and for that, an adult global merchant account is necessary.

Adult Merchants Keep More than One Global Merchant Account – Is It True?

Adult merchants have a very high volume of monthly transactions, and one merchant account cannot be sufficient. The congestion during peak hours of payment can slow down the process. The risk of financial fraud is also there every time in a high-risk business. The merchants keep more than one adult global merchant account to balance the risk.

What Are the Benefits of An Adult Global Merchant Account?

A global merchant account for an adult business comes with many benefits and helps the company stay stronger and safer from any threat. The robust system network between the merchant account, payment gateway, and the merchant works effectively to make daily operations hassle-free. Here are the several benefits of an adult global merchant account in handling global payments.

Extended market reach is perhaps the first and lifelong benefit of having a global merchant account for an adult business. We all know that this industry has the potential to grow but only when a company gets on the worldwide platform. A global merchant account allows you to approach new customers in varied countries. If they get satisfied with your services and products, you can expand business there with many new branches. Also, you can spread your wings to new countries if you have suitable global merchant account solutions. Eskaypay global merchant account solutions for adult merchants have connected many businesses with the worldwide platform.

Multi-currency payments are smoother – Adult merchants depend totally on multi-currency payments, and for that, an adult global merchant account is an undeniable need. Thanks to the presence of proficient high-risk merchant account services that offer the best experience to the merchants. You will surely agree if you also run a business in the adult entertainment industry. However, it is necessary that you always confirm from the merchant account service provider that it offers multi-currency payments in your desired parts of the world or not.

Gain goodwill with a renowned global merchant account – High-risk businesses always struggle to earn goodwill in the market. They are already under the notice of the legal institutions because the adult industry does not have a sophisticated image. But if a renowned acquiring bank connects with the merchant, it becomes simpler to create a good impression in the eyes of the market. If a merchant wants to take a loan, he can show that a renowned bank manages his payments. Everything relates, and this aspect leaves a good impact on the image of the adult merchant.

Innovative safety tools for safer transactions between merchants and customers – Is anything more important than the safety of transactions for a high-risk merchant? No, certainly no. Global merchant accounts provide security to the money of a merchant’s customers. Artificial intelligence, automation, PCI- DSS compliance, etc., many tools work together to ensure safer transactions on a daily basis. It is not an exaggeration to say that the safety measures implemented by the acquiring banks act as the backbone of the business. This safety becomes more potent with the safety tools of payment gateways working with merchants. After all, to reach the merchant account, money needs to first travel through the payment gateway. That is the first significant platform through which customers make payments.

Why choose EskayPay Adult Global Merchant Account?

Eskaypay, a merchant account, and payment gateway solution provider, already serves many adult merchants. It has a worldwide presence with its widespread network of acquiring banks. Here are some reasons you should choose Eskaypay global merchant account solutions.

Simple application process – We handle your application process when you apply for a merchant account. We know this industry very well through our experience of years.

High–volume adult merchant accounts – We have specialization in high-volume adult merchant accounts. Our expert team ensures smooth operations for you.

Web-based API integration – Accept payments on your website or through a mobile application. Our friendly API integration gives you a predictable atmosphere to get paid.

Chargeback management system – We manage your chargebacks and bring them to the lowest level. Our chargeback management strategy is strongest in the payment industry.

Assistance round-the-clock – Day, night, early morning, noon, evening, and late-night, our team of experts is always there to help you in case of any technical and operational issue.

Conclusion

An adult global merchant account is an essential part of an adult business because a merchant cannot do business without it. It is the first requirement for a reliable payment gateway for worldwide reach and safer transactions. The adult industry is indeed considered an extremely risky industry, but at the same time, it is true that this industry has a great potential to earn. Every year, the business owners make millions and billions. But that is possible only when you have the right international merchant account solutions for a worldwide presence.

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Popular Ways to Accept Payments Gateway in the UK

The United Kingdom has some popular payment Gateway methods and to run a business here you should know what are those. Yes, it is predictable that the economy is getting digital like any other economy in the world. But the known payment types in a country can always differ from the other. Business owners especially from high-risk industries need to work on this aspect seriously. In the world of commerce, things can be very specific sometimes.

Here are the popular payment methods in the United Kingdom that you should know about.

Cards

Yes, you got it right. We are talking about credit cards and digital cards, which are among the most popular payment options as we already know. When it comes to online sales in the UK, the cards card payments occupy up to 53% of total sales. Debit is an important payment method in the UK. With the increase in contactless payments, tap cards are also in use now.

Benefits of card payments –

Convenience to make faster payments is the topmost reason.
Safety is uncompromised nowadays due to 3D secure payments.
If used wisely, it helps improve credit score with every timely installment payment.
Takes the user closer to the digitized and paperless economy.

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Digital wallets

A digital wallet is an electronic wallet that allows a user to make electronic transactions while using digital currency units to purchase a product or service. Perhaps it needs no more detailed introduction because people across the world are already using it. The widespread use of digital wallets explains why the progressive economy of the United Kingdom embraces it as one of the most convenient payment methods.

Benefits of using digital wallets –

It allows you to be more organized as it gives strong security
The users get rewarded for every purchase they make
A faster checkout facility is available through contactless payments
Wide use allows the merchants to expand the business

Virtual Cards

The new payment cards have joined payment trends and they have become popular quite fast. Virtual cards are electronic cards that are not issued physically by banks like credit or debit cards. It is created by using credit or debit card details. Normally there are no charges for them and can be used conveniently for making payments. Virtual cards are making a fast place among the most popular payment methods in the UK.

The benefits of virtual cards are –

The virtual cards give uncompromised security during a purchase
It has a lower cost because there is no issuing charge.
The user can always track their spending to get an idea of overall expenses.
Users can customize their spending limit and can also freeze or close it.

Buy now pay later

In this payment method, the provider of Buy Now Pay Later pays the entire bill of a purchased product or service. The customer then pays off the amount later to the provider without interest in small installments. The UK merchants are connecting with this payment service quite fast because it is convenient for the customers of every sector.

Benefits of buy now pay later –

It is interest-free, and the customers do not need to worry about hefty installments
Friendly payment option even for younger people like students, underemployed, etc.
The installments are small and affordable, and pre-payment is also possible.
It is simple, convenient, and an affordable alternative to credit cards.

Bank transfer

Bank transfer dropped for some time during the pandemic, however, now it is on rising again, especially in the UK. It is not an exaggeration to mention that bank transfer is among the most popular Payment Gateway in the United Kingdom. As the banks also give facility for direct debit in case of regular payments, it is a popular way of taking payments among the merchants.

Benefits of bank transfer payments –

Money travels through a safe banking system
Fully electronic payments are convenient and speedy
The payment process is customer-friendly
No payment reversals happen which is good for merchants

Cash

United Kingdom people have no problem with using cash but it is true and we all know that in the last three years the cash payments have dropped. The pandemic made the UK citizens avoid cash payments. If you take an example, only 17% of e-commerce transactions happened using cash. However, if the time gets normal, cash payment should make a comeback for sure. It is because there are many good reasons to make cash payments.

It makes you control spending because you realize it closely when you give money.
No security issues because cash does not need to travel through any network.
Buyers do not need to pay any transaction charge; it saves money on recurring payments.
Cash payments are always good when it comes to emergency circumstances.

How merchants can get more profit by working on multiple ways to accept payments in the United Kingdom?

Merchants always plan to expand to new horizons and earn more profit and money. For that, they need to make a smoother reach to the customers and customers use their preferred payment ways. In such a situation, all merchants need to enable as many payment options as possible. As the UK natives have their preferences, it is good for the businesses to accept money in different ways.

The businesses can sell their services and products to more people and can earn a big profit as compared to those who have fewer payment options. EskayPay, the well-known payment gateway can install any payment channel and method on your business website. Contact now and get your query solved and start taking payments from your UK customers soon. You can also get assistance to get a merchant account through an affordable deal.

Conclusion

The United Kingdom is always ready to embrace any new change, however, at the same time, it is still a traditional country. The presence of cash payments (which may be small in quantity) and a bank transfer system explain it well. You as a merchant need to make parallel moves with the change in the payment trends. Your merchant account approval and payment gateway choice depend a lot on your payment methods. This is something that is decided by people or the customers you have. You can only provide customers with the facility they want to pay for the things, it is not a complicated way to grow bigger in the market and attract more customers. Right?