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Gambling and gaming is an ever-growing industry whose popularity has risen, especially since the pandemic. In addition, online gamification and access to free casinos at the fingertips have enhanced the popularity of games like slots, blackjack, roulette, and others.
Payment gateways online and their security is one the major concerns on such platforms, which has stirred start-ups to better the online casino industry. All online gambling and casino platforms need to include a secure payment portal on their site to attract genuine customers. We have penned down the top payment providers making the online casino market a safe place to gamble.
Payment center is a reliable payment provider which started in 2013 and now has a valid financial license in Asia, CIS, and Europe. With favorable rates and higher conversion values, it is used in corporate companies and by online gambling and casino sites for various payment options.
It is one of the best online payment providers in the market that promises reliable user experience, speed, and simplicity- all of which are essential for online casino platforms. They also offer to cover the client’s extensive payment demands, avoiding the hassle of having multiple payment partners. In addition, the payment systems created by xPate are simple and reliable.
Neosurf was started in 2004 and is now the primary payment option for many gambling and gaming sites. It gives gamblers payment options without using a credit card or disclosing their personal information. Since it is registered under the Electronic Money Regulations 2011, it is also used as a prime payment provider, along with cash vouchers on all popular gambling and entertainment websites.
The company was built in 2012, and it provides payment from one account to another for websites and companies that provide a two-way money transfer. Online gambling and casino sites are the best examples of such businesses. The company aims to deliver a seamless transition between firms and customers, thus, embarking on trust and reliability. It is mainly confined to Europe and allows for all kinds of online transactions within the continent.
It is a financial institution based in Malta that aims at modernizing payments through banks, using the latest and modernized technologies, allowing clients to have complete control over their payments. The use of cutting-edge technologies in their model requires reliability and security for online gambling and other casino platforms.
The company was discovered in 2009 and is now the prime payment service provider for many online businesses and casinos across four continents. It aims to help clients make better and more confident decisions on their payment portals and help their business scale to another level while also providing the necessary leads for all the customers using it.
The online gambling industry, including casinos, has drastically changed from traditional land0-based casinos. While brick-and-mortar casinos exist for entertainment and bling factors, their useability has drastically reduced due to the rise in online casino popularity. Most beginners on the online platform play in the demo mode for free. This allows the users, for trial and error, to test new games and also will enable them to play without the risk of data leaks or getting scammed. But, the chances of winning money, jackpots, and other bonuses are bleak. Hence, gambling sites advise all gamblers to create accounts to play real money games.
It is essential for gamblers to fund their accounts by choosing among the various options available online, to play such games. Here are the top payment methods on online casino sites that provide the diversity necessary for gamblers of different nationalities and monetary preferences.
They’re one of the biggest in the capital market, providing debit and credit card services through different banks and financial institutions. They offer the best safety, reliability, and reach, which has extended their reach worldwide. Vanilla prepaid and MasterCard are the most prominent players in the online casino market. They provide safe and reliable transaction options since they offer fraud detection technologies and transaction security tokens. In addition, the deposits through this method are generally quick without external charges.
A visa is another great option, like the Mastercard, provided by most online gambling sites. They also use 3-D security, along with other security layers, to detect fraud and secure sensitive information from malicious tracking. While deposits using Visa are immediate and charge-free, withdrawals can take a few days with a minimum charge of 2-4%. Visa offers both credit and debit card options for online casino sites.
If gamblers find it untrustworthy to provide their card details and other personal information online, they can use e-wallets like Ecopayz, which offer another safe monetary transaction method. A free account is created to opt for this service, and funds are transferred to this account with a username and password. The deposited funds can easily be transferred to the online casino account. Although registration requires no cost, performing transactions can incur charges.
It is yet another secure payment portal that allows gamblers to perform online transactions without needing a bank account, debit, or credit card. The user need not even submit their personal information. Instead, the user should have a voucher with a 16-digit PIN number to fund their online casino account. A Paysafe account is needed using a PaySafe card, To withdraw funds from the account.
Crypto is the number one priority for all gambling lovers – beginners or seasoned players. While other payment options sure provide the necessary security and reliability, crypto is a sure shot to keep your details and money safe from prying eyes on the internet. With the rise of its popularity, many online casinos are including crypto wallets in their payment portals.
The market size of gaming and the gambling industry has significantly risen over the last few years, and according to reports, it reached the 50 billion mark in 2019. According to many reports, it is also slowly, but steadily replacing the offline casino market.
With the increase in online casinos and the gambling industry, the market for online payment portals on these sites has also risen simultaneously. Technological advancements make it easier for gamblers and casino lovers to play in the comfort of their homes, with all the possible casino games at their fingertips. The security and reliability of online payments are no more a threat to online gamblers but a boon in disguise.
What are online casino payment gateways?
A payment gateway is an embedded platform on an online casino site that connects merchants and customers for payments for their services. When a payment system is set up on a site, the customer chooses their preferred payment mode for transfer, which prompts them to fill out a form and allow the transaction to take place. A payment gateway chosen for the site then processes this transaction and deposits or receives the fund from the user.
Most online casino gambling sites work similarly and let users safely withdraw or deposit funds from and into their accounts. Unfortunately, due to data breaches and the risk of information leaks, gambling sites like online casinos have faced challenges in the past in setting up traditional payment gateways on their sites. But over the years, many online payment gateway providers have found a reliable and trustworthy solution to this problem in the form of e-wallets, Bitcoin, and many other transactions.
Factors to choose a payment gateway
Although the procedure for setting up payment gateways looks easy, there are certain factors to consider before doing so. They are:
- Security: All online casinos must choose merchant services that are safe for their customers. Services that offer measures against friendly fraud are of utmost importance, increasing the reliability of these sites.
- Speed and fees: It is a no-brainer that gamblers and other casino players don’t wish to wait for days to receive their payments and also pay higher fees for the same. Hence, an online casino must consider the services that offer fast delivery of transactions and also charge a low cost per transaction. In today’s online gambling world, transactions will take anywhere from one minute to one day.
- Payment methods: Since online casino platforms are accessible to everyone worldwide, payment gateways need to offer more than one compatible payment method with different nations and allow the user to use the most comfortable methods!
- Regulation: Consideration of regulatory compliance is equally important while choosing a merchant service, which includes licenses and other crucial information.
Every online service and e-commerce site offers payment gateways for safe checkout to their customers. The same is followed by online gambling or casino sites, which are also considered essential for accepting and providing transactions.
Payment gateways are web-based tools that help in more manageable electronic payments. They connect with another third-party website to transact funds. Casinos and online gambling sites primarily rely on this tool for safer payments as they need to provide an epitome of security for their customers and also prevent data leaks.
It is one of the best platforms that accept payments from countries like the US, UK, Europe, Germany, and Italy. They accept all types of currencies and also provide alternative payment options. It is developed by Covery, a fraud-prevention service that also provides its users with chargeback alert services. In addition, they offer great online payment options to casinos and provide personal computer support to all their clients.
Stripe is one of the best payment providers for almost all online casinos, and it is used in over 40 countries, supporting over 130 types of currencies. This portal also provides various other payment methods that are not only used by high-end businesses but also by reputed online casino websites. It also provides POS terminals. Although Stripe is famous in the business spectrum, it is not equally popular in the online casino world, as it does not offer personalized customer support, which is essential for gamblers’ and casino players’ safety.
It is also one of the most popular payment gateways, providing various payment options in over 200 countries. The provider also offers the acceptance of 26 currencies. Including a payment method of its own, PayPal is also famous for offering other payment options. However, it is not popular in the online casino and gambling business as it does not provide an integrated checkout page. Every time a user makes a payment, this means they are redirected to the PayPal page, which can be in the way of casino sites’ safety regulations.
Square is a payment gateway famous in the eCommerce and retail world. It allows for a user-friendly connection and synchronization between businesses and retailers, building trust and relationships. Although they are not famous in the online gambling and casino market, they are dipping their foot into providing the best services for online casino payment options.
WePay is famous for providing an integrated merchant account and a payment gateway for online casinos and business sites. They have multiple channels, which allows for easy and secure transactions. However, one drawback of this portal is that it does not accept countries from many countries on its platform, which limits their options in the online gambling world.