Fantasy Sports is a 26 billion dollar industry. Due to the popularity and unlimited supply of income from fantasy sports, there is a huge amount of people who want to get a cut of the money. This industry ranges from advice, tips, and tricks, and sports forecasting that is important within fantasy sports merchant accounts.
The majority will need special and unique payment processing because people are either paying by phone, online, billing recurring, and memberships. High-Risk Payment Pro’s fantasy sports merchant accounts deal with a variety of professional leagues. Ranging from Fantasy Football (NFL) to Fantasy Hockey (NHL). You name it, we provide payment processing for any and all professional leagues. Finding the right Fantasy Sports merchant account can be a challenge because it is labeled as high risk for a variety of reasons, it is incredibly difficult to find a reliable processing partner.
High-Risk Payment Pro’s has strong banking acquired relationships and the experience you need for a successful fantasy sports merchant accounts for your business. Choosing a credit card processor that understands the needs of high-risk merchant accounts and this specific gaming model is important for the longevity of your business.
After going through all the hard work to create your fantasy sports business you decide to finally launch it. Immediately you have a huge mass of clients and customers inquiring about joining, making teams, and taking bets.
It is incredibly motivating to see business generate gradually. Well, you reach the most important step in opening a business, payment authorization. In order to be profitable your business needs a funnel to accept transactions. This is when you begin to look for a reliable payment processor. However, you run into a few problems because fantasy sports businesses are at high risk. You are constantly being denied from debit and credit card payment processors and acquiring banks.
Your clients impatiently want to spend their money on your product but you do not have a substantial fantasy sports merchant account provider. What is important here? Choose a payment processor that is well versed with high-risk fantasy sports merchant accounts. It can be incredibly disheartening to be denied or worse, shut down by PayPal, Stripe, or Square payment processors. Shutdowns occur frequently with generic merchant account providers.
You might be contemplating why fantasy sports merchant accounts fall under the high-risk category. Well, for starters there are emotional customers involved in this industry. For example, a sore loser in a game might demand a refund. Some people have not grown up still and this game brings them back to their immature youth. They feel harmed when one person wins big and they lose. The sore loser is likely to file a fraudulent chargeback in an attempt to back out of paying for the service at all. This results in a high number of chargebacks that credit card processors hate.
Not us, at High-Risk Payment Pro’s we understand that things happen and challenges are faced within a high-risk business. The biggest decline of financial growth for credit card processors is usually from their chargeback ratio. The money is immediately withdrawn or unpaid from the business owner or merchant account provider. The sponsored back is usually incredibly unhappy and frustrated with the business even though it might not be their fault. Not only will the sponsored bank shut down the merchant account and stop the stream of money they will also tack on additional fees to the credit card payment processor. Because of the unreliable track record fantasy sports holds with high chargebacks, it is unlikely any bank will help with card payment processing solutions. This is not the end of the road for your fantasy sports merchant account, Payment Pro’s has the knowledge in high-risk merchant accounts your business needs.
Payment processing isn’t a complicated step unless you choose the wrong payment processor. If you pick a reputable and safe bet you will more than likely have a healthy running fantasy sports merchant account. Be selective in the process so you know your business is in good hands. High-risk merchant accounts should be allowed the same quality payment processing as any other business. Here at High-Risk Payment Pro’s, we have in-house underwriters with the expertise and banking relationships to get you approved for a fantasy sports merchant account. We have a simple and straightforward application process and a team that is here to help make sure you get approved in less than 24 hours. So don’t bother applying to Wells Fargo, Chase, and other generic banks without the experience. Apply here with us and get your fantasy sports merchant account flowing.
Looking for a Fantasy Sports merchant account?
High-Risk Payment Pro’s is well versed with the unique needs of the different fantasy sports-related businesses and has established acquiring banking relationships. We are experts in getting fantasy sports merchant accounts set up and accepting online payments in no time.