By 2027, it is predicted that the internet gaming market will be worth $127.3 billion. Online gambling businesses, including online casinos, sportsbook websites, and others, have the chance to grow and make their services more accessible due to the industry’s rapid expansion. Making payment processing more straightforward is one method of doing this.
However, given the high risk associated with online gambling, businesses may frequently have trouble opening accounts with payment gateways. Therefore, it is now even more crucial to safeguard and grow your online casino business using the appropriate payment gateway.
Identifying issues before selecting a payment gateway
Keep in mind the following frequent matters when choosing a payment gateway for your online casino or any other gaming website:
- The volume of transactions – The high volume of transactions on gambling websites makes it challenging for gateway partners to monitor and evaluate them, which raises the risk.
- Like turnover volume, high website traffic makes it challenging to keep track of transactions and raises the risk of fraud falling through the cracks.
- Abnormally high chargeback rates – Chargebacks, a friendly fraud, are frequent on gaming websites.
- Risk of fraud and money laundering – Theft of cards and identities poses a severe threat to the company and, consequently, the gateway providers.
Factors to take into account when selecting the best payment gateway
After the issues above, you must ensure that your preferred payment gateway satisfies the following criteria:
- Payment options — FPX, various currencies (including cryptocurrencies). Digital wallets and alternative payment options like cryptocurrencies. Many players over credit or debit cards prefer local bank transfers and other options.
- Payment processing speed: It has been shown that quick transfers are one of the best strategies to keep gamers on board. A lengthy processing delay will turn off players who demand rapid access to the service.
- Security — All online casinos must use payment methods that guarantee the privacy and security of their customer’s financial and personal data.
When choosing the best payment gateway for their platform, an operator must consider various factors. This choice is essential for retaining and protecting your player base.
What can GSPay do for gambling websites that require a payment solution, then?
Secure iGaming Payment Solution: GSPay
The following advantages are provided to you and your clients by GSPay, GamingSoft’s flagship payment processing solution, which addresses payment, security, and compliance concerns.
- Effortless Integration
- quick turnaround time
- committed customer service
- protected payment
- User Risk Control
Are you concerned about GSPay? Call us immediately to discuss how we can enhance your company’s operations! fafabetsgaming.com
