High-risk merchant account for licensed iGaming operators with a Georgian company

Our process begins with a detailed profile review to confirm your Georgian company holds a valid gaming licence and can demonstrate that its operations are restricted to its licensed markets. We assess your last six months of processing statements, focusing on chargeback and refund ratios under MCC 7995, and review the source of your player traffic, particularly from affiliates.

From there, we build a comprehensive underwriting file. This includes a full KYB (Know Your Business) pack on the Georgian LLC and its ultimate beneficial owners, website compliance checks to ensure alignment with card scheme rules, and a review of your responsible gambling policies. We ensure your payment descriptor is clear and your refund policy is easily accessible to players.

Finally, we match your profile with acquirers that have an established appetite for licensed iGaming and specific experience with Georgian corporate structures. We manage the application, handle underwriting queries, and facilitate a warm introduction, ensuring the acquirer fully understands your business model and compliance framework before you are formally invited to onboard.

Underwriters focus on verifying the legitimacy and stability of your Georgian gaming operations. The first check is always the gaming licence itself, confirming its validity and applicability to your target markets. They will request evidence of geo-blocking to ensure you are not accepting players from jurisdictions where your licence is not valid.

Next, they scrutinise at least six months of processing history to establish your typical volumes, transaction sizes, and, most critically, your chargeback and refund rates. A consistent chargeback ratio below 0.9% is a key benchmark. Your website and payment pages are audited for compliance with card scheme regulations, including clear presentation of your company name, registered address in Georgia, and customer service contacts.

Underwriters will also expect to see contracts with your game providers and a clearly documented responsible gambling policy. Finally, they conduct thorough KYC on all directors and UBOs of the Georgian company. Be prepared to provide certified corporate documents and evidence of the link between the Georgian entity and the licensed operations.

Using a Georgian LLC presents specific advantages and challenges for securing iGaming merchant accounts. The country's efficient company registration process is a clear benefit, allowing for rapid setup. However, for payment providers, the substance of the Georgian entity is critical. We find that applications are significantly stronger when the company has a local director or can demonstrate meaningful management and control from Georgia, rather than just being a brass-plate company.

The National Bank of Georgia's regulatory oversight means financial institutions are increasingly diligent, particularly regarding sources of funds. While local banks are accessible, international acquirers will be the primary source for card processing. These providers will expect to see clear corporate documents, such as the company charter and registry extract, and will conduct due diligence on the physical address.

Your settlement currency options will typically be EUR and USD, as most acquiring partners for this sector are EEA-licensed. This means funds are settled to a corporate bank account, which may or may not be in Georgia, depending on your operational setup. We guide you on establishing a settlement path that aligns with your acquirer's capabilities.

Merchant accounts for Georgian iGaming operators are most commonly declined because of an incomplete or inconsistent compliance picture. This often involves a failure to prove that the company is blocking players from unlicensed jurisdictions. Acquirers will test this, and if they can access your platform from a prohibited country, the application will be rejected immediately. Another major red flag is an inability to supply six months of clean processing history showing stable, low chargeback rates.

Sudden closure of a live account is often linked to chargeback ratios. If your monthly chargebacks spike above 1% without a clear explanation or mitigation plan, an acquirer's risk department may terminate the facility with little notice. This can also be triggered by a high volume of player complaints related to unclear billing descriptors or disputes over bonus terms. To prevent this, our file preparation includes optimising your descriptor and ensuring your terms and conditions are unambiguous.

Finally, undisclosed changes in ownership, directors, or even core business activities (like adding a lottery product to a casino site) without prior acquirer approval can lead to immediate termination. We stress the importance of maintaining an open dialogue with your provider, with our support, to manage these changes compliantly.

For a Georgian iGaming operator with a complete file, the typical timeline to secure a live merchant account is between 2 and 6 weeks. The first week is dedicated to our internal review and file preparation. The subsequent 1 to 4 weeks are for the acquirer's underwriting and compliance review. The final week is for technical integration and activation.

This timeline is achievable only when all documentation is in order from the start. This includes the gaming licence, recent processing statements, full KYB on the Georgian company's UBOs, and a compliant website. Any delays in providing these documents will extend the timeline accordingly.

Once live, maintaining the account requires ongoing vigilance. We assist in setting up your monitoring of key metrics like chargeback ratios, refund rates, and approval rates. You will be expected to respond to acquirer queries promptly and maintain a rolling reserve, which is standard for the iGaming industry. We recommend a monthly check-in to review performance and pre-empt any potential issues before they escalate, ensuring the long-term stability of your payment processing.