Gambling or Betting

The gambling and betting industry is highly risky from the point of view of card schemes and requires the mandatory use of MСС (Merchant Category Code 7995). The allocation of a special MCC and increased monitoring by the card schemes is primarily due to the fact that in many countries this activity is either prohibited or strictly controlled. The website is subject to additional requirements for the content of information, checking the age of users, the availability of a license, and others. Also, such merchants are not bypassed by scammers, it is very convenient to use this service for money laundering.

So, what are the risks?

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Receiving large fines for incorrect registration of the merchant, according to the rules of card schemes.

2

Using the service as an electronic wallet, with attempts to enter funds, formally play and withdraw already laundered money.

3

A high level of fraudulent transactions, which carries both financial and reputational risks.

4

A large number of claims from cardholders, which, if the process is not properly constructed, leads to a significant increase in chargebacks, and therefore direct financial losses.

These are just the main risks that can be applied to Gambling or Betting, in reality there are a much larger number of them.

Find out how you can protect your business using advanced solutions in this area with the help of our company.

Gambling or Betting

So, what are the risks?

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