Why iGaming needs specialized PSPs
Online gambling merchants face unique payment challenges: high chargeback rates (often 1-3%), strict KYC/AML requirements, multi-jurisdiction licensing, and the need for fast player payouts. Specialized iGaming PSPs have built risk models and banking relationships specifically for this sector.
Key features for iGaming PSPs
Essential features include: (1) High chargeback tolerance; (2) Fast player payouts (same-day preferred); (3) Alternative payment methods (e-wallets, crypto); (4) Multi-currency support; (5) Fraud prevention tools; (6) Regulatory compliance support.
Frequently asked questions
What chargeback rate do iGaming PSPs accept?
Specialized iGaming PSPs typically accept merchants with chargeback rates up to 2-3%, compared to the standard 1% threshold for mainstream processors. Some providers offer chargeback insurance or guarantee programs.
Do I need a gambling license to get a PSP?
Yes, virtually all reputable PSPs require proof of a valid gambling license from a recognized jurisdiction (MGA, UKGC, Curaçao, etc.) before onboarding iGaming merchants.
