Gaming merchant account
Curacao is a destination for companies looking for an affordable gambling license. Once companies have been formed, licensed issued, a means to accept payments needs to be considered. Since 95% of all gambling transactions are done via credit card, obtaining a gaming merchant account to process Visa and Mastercard transactions is vital to your new businesses success. Credit Card processing for Curacao casinos (or any casino) is considered high risk and for this reason you will need to find a service provider with an apetite for the risk.
What is a high risk merchant?
Merchants working in certain industrues such as Gambling, Cryptocurrency and Forex attract a high probabiloty of fraud which ultimately leads to chargebacks. These merchants are considered “high risk”. It is not uncommon for high risk merchants to struggle to find a service provider to offer them card processing, especially if they have no processing history.
What does it cost
High risk merchants pay a premium in card fees, scored fees (fixed fee per transaction) and rolling reserves (often as high as 10% over 180 days). There is good reason for these high charges in that service providers may attract fines from card shcemes for excessive chargebacks etc.
What payment methods are available?
95% of all transactions will take place via a credit card. There is no disputing this fact and for this reason it is important to offer your clients some form of card payment service. In addition to these sorts of payments, e-wallets are popular as well as cryptocurrency which make up the remaining 5%.
A number of popular payment methods such as PayPal and stripe will not offer services to gambling companies or businesses that resemble gambling in one way or other.
Payments for skill based games
You will find companies who will work with skill based games, however, they are far and few between. More often than not they will want to see some form of license. This is not to be difficult, but rather to protect themselves from attracting fines from the likes of Visa and MasterCard.
I suggest you take a read of the Malta Skilled Game regulation to get some insights.