iGaming Merchants face a lot of challenges and obstacles including the burden Regulations and Compliance, sophisticated Fraud and reluntant Banks. The Endeavour Payment gateway solves many of these problems and allows the merchant to create a finely tuned system for collecting money in safety.
The Remote Gaming Industry relies heavily on its ability to collect payments and the challenges are many. Some of these challenges are:
Fraudsters particularly target gaming companies because Gaming companies have to allow players to withdraw money. This presents an opportunity to steal money from credit cards.
Other types of cheating are common:
Some players try to cheat other players, colluding together to create an unfair advantage for other players. This is especially a problem in poker.
Other players are opportunists, having played and lost will pretend that their card was stolen and have their bank forcibly refund them their losses through a chargeback.
Fraudsters that target the Gaming Industry tend to be sophisticated, resourceful and well prepared. False identifies, use of Proxies, use of multiple computers or ISP connections, and organized gangs makes the average day interesting.
REGULATIONS AND COMPLIANCE
Gaming companies have to comply with many laws and regulations. Anti-Money Laundering, Gaming License Regulations, and Payments Card Industry Security Standards are typical examples.
Banks are another obstacle, changing rules without warning, requiring unreasonable retention rates, keeping costs high and generally being unpredictable.
HOW ENDEAVOUR HELPS
Gaming Companies ultimately are in the business to offering gaming services, all the while beating off competition, grabbing market share and creating profits for their shareholders. They have enough on their hands.
This is where the value of the Endeavour Payment Gateway as a payment solutions provider comes in, bringing an experienced team and impressive technology to simplify, protect, remove challenges and lower the cost of ownership.
The gateway gives the option to gaming companies not to store credit cards while still retaining all the flexibility ? essentially acting as a safe repository of card information available when needed.
And then for the payment process itself, Endeavour brings into play its powerful Phalanx Fraud Detection System which can block or warn on fraud. Phalanx excels in its ability to collect information and then gets pretty smart with its ability to authenticate this information, in ways that is unique to Endeavour: 'how is that possible?' How do you know that?' - We get to hear that a lot!
Gaming actually creates some unique opportunities for fraud detection and the gateway specifically exploits these opportunities to detect fraud.
What makes the whole approach so effective is that each gaming company can set up its own rules, and these rules cover quite complex scenarios. Information is also made available to the gaming company outside of processing which can use, for example, to limit deposits. The approach is to give gaming companies a competitive edge and to allows them to create a finely tuned system for collecting money in safety.
There is a lot more that Endeavour does, for example we get more transactions approved, make payouts easy and offer multiple payment systems. And, by the way, our 3dSecure is one of the best implementations around, but that's another story ....