For a variety of reasons, many credit card processors refuse to accept digital streaming services as clients.
1. It should go without saying, but the majority of digital streaming services are eCommerce transactions. eCommerce sales are more vulnerable to fraud and friendly fraud chargebacks since they don’t require a chip card or magnetic swipe and instead require the customer to type in their credit card data.
2. Because digital streaming services nearly typically entail recurring billing, which is a specific form of credit card payment that is more prone to chargebacks. Third, digital services are still relatively new, whether they be mobile data streaming, data reselling, live-streaming, or other digital services.
Often, credit card processing underwriters just do not comprehend the sector or the service being supplied, and as a result, they restrict the industry outright out of an abundance of caution.
eDataPay Payments, on the other hand, has been a proud supporter of the digital streaming business since its inception. We can reliably support these firms because of our extensive partnerships with credit card processors and sponsor banks that specialize in underwriting “high risk” businesses (including data streaming businesses, mobile streaming apps, and all types of streaming-related apps). Furthermore, eData Payments’ fully integrated chargeback and fraud prevention solutions uniquely position us to assist protect our merchants from some of the industry’s inherent vulnerabilities.
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