Online Providers help

Hi Guys,

I'm looking for some help regarding online payment providers. We are looking for a payment provider to help us with our new business venture but are struggling to find one which will match our needs. The business in question is a betting platform allowing users to bet peer to peer. We would require two types of services:

• The ability to receive payments from our users online
• The ability for our users to receive their winnings back upon their request.

An example of the process would be our users will place bets which will require us to receive their payment and then if the customer is successful their winnings remain in their account with us until they decide to withdraw their winnings. This is where we will require the second service listed above.

I have looked over the market and found all competitors use neteller & skrill (these are the same company). We have engaged these but they are INCREDIBLY bad at getting back to us and we want to seek out alternatives.

Any suggestions?

 

Many payment gateways offer excellent service to their customers. The payment processing company which claims that they have the best-known names in betting is WorldPay.

 

Hey FantasyTote,

You're going to need to accept credit cards and pay out in an ACH like fashion. These are two separate matters, unfortunately. So, you need a high risk credit card processor who does start ups and someone who has a high risk ACH solution for payouts.

I would give Instabill or Worldpay a try.

 

Thank you for the replies. there are a million options that will help accept payments but very few that will do the second part and provide ability to send out winnings to users. A clear gap in the market as this industry is growing and very few players in this space.

 

Not many people want to work with start ups, truthfully. The ACH side is a little more difficult. Perhaps you could pay out using Paypal for the time being and once you have a month or two, apply for that ACH account?