Overview
Apex Underwriting Group operates at the licence-first end of high-risk, where the question is rarely whether a merchant can manage its chargeback ratio and almost always whether the business is licensed for what it does and where it does it. GCGRA-licensed gaming operators, SCA and ADGM regulated brokerages, and VARA-registered virtual asset businesses all sit here.
Applications start with the licence, not the volume. For gaming that means a current GCGRA licence or a formal in-process reference; for brokerages, the regulatory permission and client-money arrangements; for virtual assets, the AML programme and who performs identity checks. Apex will not begin underwriting without those documents, which frustrates merchants used to a soft-approval-first process but avoids a great deal of wasted time on both sides.
Because the regulatory picture differs by activity and by jurisdiction, Apex quotes per licence rather than offering a single blanket rate.
What they accept
- GCGRA-licensed gaming, lottery and sports wagering operators
- SCA, ADGM FSRA and DIFC DFSA licensed brokerages
- VARA and ADGM licensed virtual asset businesses
- Merchants operating across multiple regulated jurisdictions
- High-ticket card-not-present volume
Pricing & terms
| Pricing model | Interchange-plus |
|---|---|
| Rolling reserve | Applied on most accounts in this category — range set per licence type |
| Contract length | 12 months |
| Early termination fee | None disclosed — confirm directly |
Figures above are the provider’s published or stated terms at the time of review. Final pricing, reserve percentage and hold period are set at underwriting and depend on your volume, ticket size and chargeback history.
Standout feature
The only provider on this list holding a CBUAE licence directly, and genuinely capable of underwriting GCGRA-licensed gaming — a market so new that most acquirers have no framework for it at all.
Watch-outs
MATCH-listed applicants are not accepted at all, and the licence-first intake means approval takes two to four weeks even for a clean file. Not a fit for pre-licence operators, and they will not consider an application without the licence documentation in hand.
Bottom line
The right call if you are properly licensed and your problem is regulatory complexity rather than dispute history. The wrong call if you are MATCH-listed, still waiting on a licence, or need a decision this week.
Get matched with Apex Underwriting Group
Frequently asked questions
Yes. Apex will not begin underwriting a gaming file without a current GCGRA licence or a formal in-process reference. Unlicensed gaming remains prohibited in the UAE for operators and players alike, and no legitimate payment arrangement exists for it.
They hold a CBUAE licence directly, which is unusual among the providers serving this end of the market and means your regulatory counterparty is the entity you are contracting with. Ask for the licence details and verify them rather than taking any provider's word for it, including ours.
