IPTV stands for Internet Protocol Television. According to the new report by Markets and Markets, the IPTV market valued was USD 50.9 billion in 2021 and is expected to reach USD 194.21 billion by 2026 at a Compound Annual Growth Rate of 17.8% during the forecast period 2021-2026.
Internet Protocol Television (IPTV) is a system that has a crucial role to play in this phase of transition from traditional broadcasting methods like cable or satellite TV to internet-based streaming. These innovations have positively benefited the market with improved communication technologies and network architecture.
The increasing preference for video-on-demand, rising demand for high-definition channels, and the growth of internet video advertising and expanding internet penetration are the main factors propelling the IPTV market’s expansion.
Investing in the IPTV sector is a great idea. It is an excellent place to make more and more money.
Are you planning to deal in IPTV enterprises? Is it hard for you to find a reliable merchant account? Yes! It is one of the major concerns when you start your IPTV enterprise. Well, having an IPTV payment gateway is essential to accept credit and debit card payments.
Keep reading this post to discover more about the IPTV merchant account.
Why is an IPTV merchant account essential?
The IPTV industries are one of the growing markets nowadays. The popularity of video advertising on the internet is one of the critical factors.
There are more chances due to the rising customer demand for high-quality internet and video content. Therefore, if you are an IPTV provider, you should take advantage of this situation and look for a reputable merchant account provider such as PayCly.
Paycly is one of the leading fintech service providers who have experience in working with IPTV sectors. It will assist you in quickly starting your IPTV enterprises. We will discuss PayCly later.
Are IPTV enterprises high-risk enterprises? Why?
We all are familiar with what IPTV is. Nowadays, every person watches television and cables without satellite or cable equipment over the internet.
With every passing day, it is getting popular. Due to its popularity, most IPTV businesses used to broadcast illegal printed TV streams, leaving IPTV operators open to copyright breaches.
This is one of the most common reasons most fintech service provider label the IPTV sector a high-risk business. There are many more reasons, such as –
IPTV merchants earn money when customers make subscriptions. Subscription to an IPTV is a single step to getting an IPTV service to work. But, customers don’t pay frequently for subscriptions. Due to this reason, acquiring banks and financial institutes have seen the IPTV sector as an irregular industry and considered it high-risk.
Due to the high-risk nature, merchants find difficulty in finding a suitable IPTV merchant account and IPTV payment gateway.
What to consider when looking for a high-risk merchant account?
Nowadays, you can find many high-risk service providers. But not all high-risk service providers are compatible with all high-risk enterprises. Before making the final decisions, you should make sure that your selected service provider considers the following points –
Excellent customer support services –
Look for a service provider who is always ready to help you whenever anything happens on your websites or apps. Ensure your selected service provider guarantees that every issue will be solved.
High-tech-savvy security –
As a merchant, security is the top priority for you. Your service provider ought to have PCI DSS level-1 compliance and offers a set of anti-fraud tools. It helps you to keep your business away from fraudsters. Also, make sure that your service provider provides decent chargeback prevention systems.
Simple pricing structure –
The pricing structure should be simple and understandable. Some service providers ask to pay high charges to take advantage of your situation. So avoid going with that type of service provider. Go with the provider who offers a reasonable price. Always check that there are no hidden or extra charges.
Compatible with your business model –
Not all high-risk service provider needs to be compatible with all types of high-risk businesses. Before applying for the high-risk IPTV merchant account, ensure it works with IPTV enterprises. The same goes for the countries’ acceptance also. Reliable service providers always have a list with whom and where they are dealing.
Read the contract carefully –
None of the service providers provide a contract list online. So, while making the deal, read all the company’s terms and policies carefully.
Before selecting any of the service providers, do lots of research about their backgrounds. Your preferred service provider has experience in dealing with the IPTV industries. Furthermore, it ensures that the payment method you intend to use is respectable and safe, safeguarding your money.
You might be curious to know if the selected service provider offers many accounts or not. Request the payment platform’s APIs as well so you can completely manage the setup and payment processes. Ensure that your selected service provider offers fast onboarding and user-friendly payments that don’t have downtime or unpleasant surprises. Useless payment processors with little experience should be avoided.
How to apply for a high-risk merchant account?
You must fill out the application form to obtain an IPTV merchant account. Nowadays, the merchant needs to accept credit or debit card payments as most customer love to make payments via cards. So, to receive the card payment, you need a reliable high-risk payment processor.
Obtaining the IPTV merchant account is very simple and easy. If you choose “PayCly,” we will help you get the merchant account as we maintain a good and professional relationship with most of the acquiring banks and financial services worldwide.
Once your application form gets approved, you need to submit some documents. These documents vary from one service provider to another. Some of the most common documents are –
- Photocopy of passport or any other government Identification card such as a driving license.
- Processing history of last six months.
- Full details of your business
- Incorporation certificate
- Shareholder’s certificate
What benefits do you get with PayCly?
Nowadays, you can get many service providers who offer their services to IPTV enterprises. But we recommend you go with PayCly. As “PayCly,” we are one of the leading fintech service providers whose services are available worldwide. We have experience in dealing with the IPTV sector and offer the best solution according to your business model.
We offer the following benefits –
- We help you to open a merchant account, as we have contracts with many acquiring banks and financial institutes.
- We allow you to accept multi-currency from all over the world.
- Along with credit card processing, we offer some of the most popular alternative payment methods, such as net banking, e-wallets, mobile payment, and cryptocurrency.
- We have PCI DSS level-1 Compliance. We also offer the latest technology, anti-chargeback, and anti-fraud tools to secure your business.
- We have excellent customer support services.
- Our integration step is simple and compatible with all types of platforms.
- We have a powerful dashboard.
Final thoughts –
You have a clear idea about the IPTV merchant accounts. IPTV is considered high-risk, so you need to set up a high-risk IPTV merchant account. We suggest you go with PayCly, as it is a reliable payment platform, and your whole process to obtain the IPTV merchant account will be straightforward with us. With us, you can also get many benefits that help you to grow your business.