Accepting Igaming Payments without a Merchant Account through Service Providers like

Are you interested in reducing your processing fee on the credit cards? Even business owners want to pay minimal credit card payment processing fees. But deciding whether you should open a business bank account or a merchant account to do so can be tricky. Also, business owners might wonder whether or not they should go for the payment service provider to manage their transactions. 

As far as small businesses are concerned, payment service providers will be more affordable whereas for large businesses merchant accounts are an optimal option. In this article, we’ll give you an idea about how to utilize a surcharge program to completely eradicate the surcharge fee and take igaming payments via credit cards without having a merchant account.

Let’s Understand a Merchant Account 

A merchant account refers to a kind of bank account especially for businesses that manage their relevant credit card transactions and other online payments.  You might need to open one or more merchant accounts, depending on the items you deal with and the location of the sale. 

For instance, online eCommerce businesses can use internet merchant accounts. Not every bank will offer you a merchant account. And even if they do, you would have to go through an application process. This is a prerequisite that you need to fulfil even if you have a business bank account with them. 

The Role of a Merchant Account

A third party namely the merchant acquiring bank provides the merchant account. These third-party service providers are responsible for managing the transaction between the cardholder and the designated cardholder bank along with keeping your business in the loop. 

The amount of customer transactions falls into the merchant account and the credit card processor takes its share. And the remaining amount of purchases accumulates in the bank account of the business entity which is accessible to all the business partners.

A merchant-acquiring bank requires you to go through an application process. You would have to provide a few details such as nature of business, operational history, personal credit record and business financial records to get access to a merchant account for the business entity. 

In the case of a small business having a shorter credit history, there are increased possibilities for attaining a merchant account with the same bank it has business relations with. On the other hand, if the business has got chance of facing some fraudulent events then the acquiring bank may reject the application or impose high fees as they have got high risk’ situations.

Advantages and Disadvantages of a Merchant Account 

Merchant accounts have their own set of pros and cons. 

  • Merchant accounts are offered by very stable banks that are responsible for continuously managing the business entity they have business relations.  Hence, there are fewer chances of payments being delayed or other issues with the account arising in the long run.  Moreover, entities making more than $10,000 a month are likely to receive a more attractive pricing package and other payment-related services. 
  • On the other hand, a payment account might be hard to get to a start-up business that has got very low sales volume or a shorter business history. Furthermore, the application process is more time-consuming. Plus you might not save much on the credit card surcharge fees in comparison to other service provider options.

Accepting Igaming Payments without a Merchant Account

Payment service providers are the companies that can remove the hindrance to setting up an account without a personal merchant account with the acquiring bank. As a result, they can let you accept credit cards even without a merchant account.

These companies have their personal merchant account and they would accumulate the funds of the business they deal with in that particular account. It works in a way that the company would transfer the money into the bank account of the business within a few working days after taking the surcharge fees. Some companies, such as offer you with various payment structures.

Dodge the Surcharge Fee on the Credit Cards and Obstacles of Merchant Account 

Merchant service providers like give you peace of mind by managing all the paperwork and establishing your merchant account. It will provide you with the facility of approving transactions that customers make with credit cards no matter if your business has a merchant account is unavailable. 

It will allow you to accept payments through the credit card without having to worry about anything.  Most importantly, you won’t have to pay the credit card processing fee due to the surcharge program. All in all, you can provide your customers with the opportunity to make payments instantly.


In conclusion, there is a high fee for processing that business have to pay for taking igaming payments using credit cards in the absence of a merchant account. But they can avoid it by working with reliable service providers like 

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