Skill Gaming Merchant Account
You provide an entertainment platform for thousands (or millions) of users. They can master their skills and have fun. But to provide a full game cycle you, as a skill gaming platform owner, need to open a merchant account first. Of course, to open a skill gaming merchant account you will need to meet certain PSP requirements.
What is the skill gaming?
Skill gaming can be described as a game based on mental or physical abilities, rather than chance. This means, that participants already have some skills and continue mastering them while playing. Based on the professional level, gamers can win real money prizes or non-cash prizes. Currently, there are five main skill gaming categories:
- Fantasy sports,
- Puzzle games,
- Arcade games,
- Cards games,
- Trivia games,
- Word games.
Users register on the skill gaming platform of their choice to start playing and earning points/prizes/cash.
Skill gaming is regulated by special authorities. They are to decide, what to consider gambling (game of chance) or skill gaming. There are some age restrictions when we talk about money prizes – gamers should be 18+ to participate in such tournaments.
What are the core needs of skill gaming merchants
It’s vital for a skill gaming website to provide security to their users and seamless transactions flow. Also, as skill gaming is truly international and involves people all over the world, the merchant needs to take those things into account.
- Smart routing. In order to ensure a consistent transactions flow, merchants need to be connected to the appropriate banks. Even if skill gaming stands far away from gambling, there might be some misconceptions. That’s why it’s essential to work with the experienced bank that won’t decline the transactions.
- Chargeback & fraud prevention tools. Even though it’s not gambling, gamers may file for a chargeback after they realize they are not winning a thing. Or claim they never created an account on the skill gaming platform.
- Payment methods. To cater to international needs merchants need to offer a vast choice of payment methods on the checkout page. Different users should find the methods they are acknowledged with to feel comfortable and safe.
Ikajo International helps merchants to grow their business for 15+ years. With such an experience, Ikajo makes it possible to find personalized solutions for any business type. Skill gaming merchants may be sure they are secured, as Ikajo is PCI DSS compliant and has its own fraud and chargeback prevention software. For the global appeal, merchants have a choice of over 100 payment methods (including alternative ones) and over 100 currencies.
- Own fraud and chargeback prevention tools
- Integration through HPP or API
- Free recurring billing option
- 100+ payment methods
- 100+ currencies
- Partnership with 60+ global banks
- 24/7 customer support
- Mobile banking