This article will provide you with 12 casino payment solutions providers that can boost your iGaming company in 2024.
As the industry continues to grow, a growing number of new businesses are emerging to satisfy the global demand for gaming experiences and take advantage of its opportunities. Operators are now in a highly competitive market, and will have to use the best backend software to differentiate themselves from competitors. iGaming Payment Gateways are one of the key systems used by firms in this industry.
iGaming gateways are essential to the experience of playing at a casino, since players must be able to withdraw their winnings while operators have to find a method to get their money. The number of payment options and currencies available makes it difficult to choose the best casino payment provider. This article will cover the factors that operators should consider when selecting payment providers and what casino payment method is best for them.
What is the role of a payment provider in a casino?
- You can transfer funds into the casino
- Completing transactions on time is essential
- The correct amount should be sent
- Transfer of funds made easier through an interface for the user
- Secure customer data
- Convert currencies
The casino payment solutions providers create and maintain systems that facilitate transfers of money in various forms between players and operators. They act as intermediaries to ensure that funds are sent in the proper amount and on time to the intended recipient. The gambling payment gateways also have to ensure the security of customer data. It is important to note that the data needed to process transactions from and to a casino may contain sensitive information such as SSN or passport numbers, address, etc.
Payment solution providers for online casinos who offer robust data security, and have a track record in keeping data safe of their customers will instill confidence to newer players that may hesitate because of the strict requirements of identity verification. Some gamblers are looking for a higher level of data security and privacy. They choose cryptocurrencies to play their favorite gambling game. While cryptocurrencies provide quick transfers, excellent privacy, and high data security, they can be difficult to obtain, particularly for new users. Many crypto casino payment providers provide a user-interface for players to obtain their coins. It’s also worth mentioning that many payment gateways for gambling offer user interfaces.
Most casino payment providers provide an interface that streamlines the experience of their customers. It is mainly casino payment solution providers that offer online wallets, where users are able to make purchases using their bank cards and wallet balances. Many crypto-focused iGaming providers also offer payment interfaces, and these are often used by users to purchase a variety of cryptoassets, then store them on their online casino accounts.
Currency conversion is another popular use of an interface dedicated to a payment gateway for casinos. It is especially useful for gambling sites that operate in different countries. They can offer a greater degree of localization to their players. Currency conversion services offered by casino payment solutions allow operators to keep their users’ balances only in one currency. This can simplify the operations of an online gambling site.
Online casinos use a cloud-based payment gateway. Although their functions may seem simple and self-explanatory at first glance, there can be complexities when handling large numbers of transactions in different currencies. Not all payment providers for casinos will have all the features and options that an operator might desire. What are the top features that an online casino should look for when choosing a payment provider?
What to consider when selecting payment gateways for Online Casinos
Usability is the key factor for any online gambling company. The three main components of the top casino payment solutions providers are availability, ease-of-use, and low fees/limits. There are many factors to consider when searching for the top iGaming payments providers. We’ll discuss these next.
First, it is self-explanatory: the greater the number of people who can use a payment option for an online casino, the better. Some payment providers only offer their solutions in certain countries, states, and provinces. We will go into more detail about these local options later. For operators that want an international audience, the best way to achieve this is to make their services available worldwide. The regional availability of voucher payment gateways is also important for online casinos, since these providers need to have a physical presence on the market they are operating in.
It is important to check the supported currencies before choosing a casino payment provider. It is important for both international operators that work across a variety of countries and need a broad selection of currencies supported, as well as casinos concentrating on niche markets where only domestic currencies are used. It is also beneficial to other casino operators to choose a payment provider who offers multiple currencies. This will make it easier for the company in the future.
Some companies offer conversions for a variety of currencies, even though most casinos only accept a limited number of currencies. It allows operators to take players from around the world and accept their currencies without needing to maintain a separate balance for each currency. If you are an operator looking for a casino payment provider that offers currency conversion, make sure to choose a company that has the lowest fees and best exchange rates.
Support for cryptocurrencies is another thing operators should look out for when looking for iGaming payments solutions. It is a great feature for cryptocurrency gambling sites, as it allows their users to buy crypto tokens on their website without needing to go to a third party exchange. Payment gateways that integrate with cryptocurrency are a great choice for both hybrid and crypto casinos.
Convenience is an important aspect that ties in with the primary objective of high usability. Most casino payment options are easy to use and offer instant transactions. Some methods require more effort, such as bank wire transfers. These take longer to complete and involve more paperwork. For a smooth experience, all barriers must be removed or minimized, particularly those that are related to time. This is because slow or delayed transfers will directly affect the operator’s revenue.
Although this can be a concern to operators, it isn’t so bad when players withdraw their money. Players may choose to use wire transfers, for example, when they want to pay out big winnings. They are more suitable to large transactions because of their lower transaction fees and transfer limits compared to the other casino payment methods. Transfer fees and transfer limits are also variables operators strive to improve.
Charges and Limits
Transaction limits and fees are two of the biggest obstacles to players depositing. Many people believe that fees are a waste of money and do not contribute to their purchase. It is therefore important to keep them low. Payment providers that are the best for casinos will not charge any fees to their customers, but instead take a percentage of all incoming transactions. This makes them very attractive for gambling companies. While limits may not seem as important as fees to gambling firms, they should still be maximized to prevent any problems, particularly when paying out winning customers.
Supported Deposit Methods
It is mainly applicable to users of online wallets who can store funds in their account. Players will have to make sure they can deposit funds in their wallets before using the payment services provided by the casino. Online wallets allow users to deposit money using a variety of bank cards. However, it is always better to have more options available, like cash. This can be done through popular payment solutions providers such as PayPal.
Mistakes do happen, even though players will not have any problems using high-quality payment services. It is therefore important to evaluate the level of customer service provided by online casino payment providers. A bad experience may discourage players from playing on the operator’s site. A wide range of communication options and high availability are key factors in a quality customer service experience. This is especially important for international operators who offer services across multiple time zones. Gambling firms that offer highly-localized services may also need to make sure the casino payment solutions providers with whom they partner provide a variety of languages for customer service.
A high-quality support service for clients of a casino solution provider is also important. Gambling firms will sometimes have to contact their casino payment portal partners in order to resolve any issues. In the early stages of a partnership between an iGaming provider and a casino solution provider, communication is also crucial. Gambling websites often have to get approval from prominent payment gateways. This is the next topic of conversation.
Easy of approval
Operators will require merchant accounts to begin working with casino payment solutions providers. It can be difficult to obtain a merchant account, depending on the casino payment provider with which an operator wants to work. Casino payment companies that are well-established and have many users around the world will protect their business and be less willing to collaborate with small operators. This is especially true if they do not possess a lot of reputable certifications or licenses. It is therefore beneficial to upstart casino operators to use payment providers who have an established presence in the industry. We will explore why finding casino payment solutions providers is difficult.
What makes it difficult to find payment solutions for online casinos and why?
Risks are the main reason that many payment solution providers do not want to work with gaming firms. Risks include money laundering and other financial crimes. They also come with the operation in different jurisdictions with many currencies. iGaming companies are also turned down by many payment providers due to their unclear end-user conditions.
It is easy for gaming firms to increase their attractiveness to payment solution providers, by adopting robust AML/CTF measures. They can also do this through obtaining certifications and licensing from respected industry associations. It is important to have high-quality solutions for identity verification in order to implement AML and CTF. However, it’s also crucial that operators can perform their checks quickly to provide players with a positive experience, and to avoid adversely impacting conversion rates.
As mentioned earlier, identity verification can also reduce the conversion rate of an operator due to privacy concerns. Assuring the security of player data will help to increase conversion rates and instill trust in online gamblers. To avoid these issues, it is also a good idea to work with payment providers who have an established presence in gambling.
Best casino payment solution providers
Let’s start with Skrill. After learning the functions and features of online payment solutions providers, we will look at the things that operators should look out for in choosing a company to partner with.
Skrill, an online wallet that offers its own credit card prepaid service, is quite flexible. They offer a quick service and charge minimal fees for deposits. However, withdrawals are charged a fee of 5.5 dollars. Skrill is popular among online gambling sites, and most frequent players will already have an account.
The service, which is not limited to gaming but also available in many jurisdictions, makes it an attractive option for operators of online gambling sites. Paysafe Group is also behind them, a company with a vast amount of experience in financial services. Our next provider, which is also part of this corporation, is also another subsidiary.
Neteller, another popular casino payment provider provided by Paysafe Group. The company is more focused on money transfers than a wallet, but it works in a variety of currencies around the world. The most common bank cards are supported, along with a few other payment processors such as PaySafe, iDEAL and others.
Neteller also allows users to use cryptocurrencies. This gives them a greater degree of flexibility. There are some disadvantages to the firm, including fees of about 2.5% on average, and transaction limitations around 20 000 currency units each month.
PayPal is the largest online payment solution and wallet in the world. They are available almost everywhere, but some areas may experience problems when receiving funds. It has several unique features, including its own credit cards and Pay Later, which lets users purchase goods with a small loan.
PayPal supports almost all currency types and converts them automatically for users. This allows operators to accept deposits in currencies that they don’t directly support. PayPal offers reasonable transaction fees, around 1,7%. It has generous limits and charges reasonable transfer fee.
Let’s move on to a casino payment service that focuses on cryptography. PayCryptos, a payment portal for online casinos created by iGaming company SoftGamings, is a great option to integrate cryptocurrencies into an online casino website. The system was designed specifically for gambling online, which makes it an excellent option to incorporate cryptocurrencies in an online casino.
The solution, which is based on innovative technology, can be found worldwide. It also offers very competitive rates because there are no middlemen to deal with. The solution supports eight blockchains, as well as over 16 different crypto-coins, such some of the more popular coins on the market, like Bitcoin, Ethereum Tether and Dogecoin.
5. Google Pay
Google Pay, which is available on almost all mobile devices including Apple iPhones and iPads in nearly every country, makes it an ideal payment gateway for casinos online. Google Pay allows users to use their debit or credit cards without having to enter all their information for every new service.
The service is used by millions of people around the globe for their daily shopping, as well as other everyday activities. This lowers entry barriers. It offers transaction fees as low as 2%. However, in some regions the transaction limit may be less than optimal. Google Pay is available in a wide range of locations, which will make up for any shortcomings.
6. Apple Pay
Apple Pay is similar to Google Pay in that it offers many of the benefits. Users can have several credit or debit cards, and select which card to use to make a transaction. It is a great payment option for online casinos because it’s easy to use. It can even perform better than its biggest competitor Google Pay in some instances, with lower transaction fees and higher limits.
Apple Pay is not available everywhere. Apple Pay is available only on Apple devices. This severely restricts its usage, as iPhones represent just 30% of smartphones. Apple Pay may be a viable option for large operators even though the percentage is lower.
7. Interac e-Transfer
Let’s look at a few localized options. We will start with Interac eTransfers. eTransfers are widely used throughout Canada and have been adopted as one of its most popular payment methods. The service is widely used in Canada, from renting a home to receiving payment for part-time work.
Interac, in collaboration with Mastercard and Western Union, offers eTransfers as a safe and secure way of transferring money between financial institutions. They can also be used to send and receive funds across international borders. Considering the iGaming industry in Canada is growing, acquiring a license and integrating Interac e-Transfers into a casino’s payment system could be a great way to get in early on a market with a high potential.
iDEAL, a payment option popular in the Netherlands, shares many similarities with its Canadian counterpart. Like its Canadian equivalent, it allows users to make payments and transfer money through their preferred financial institution.
The app works with the vast majority of Dutch banks. It also offers many useful features such as its QR Code payment system that makes it easy to pay by simply scanning an image on your mobile phone. iDEAL has low transfer fees, and generous limits. iDEAL offers a great casino payment option for operators who are looking to break into the Dutch iGaming industry.
Trustly has become a very popular payment gateway for casinos, since it focuses on the gaming industry. Instantaneous withdrawals and deposits are offered by the company, allowing players to enjoy their gambling experience with ease. The company charges a very low fee of just 1.5%. However, this can be reduced for large businesses.
Payment providers work with both online and retail operators. With a simple integration players can enjoy both the online and in-store gambling experiences of a gambling establishment.
Trustly also offers gambling operators a few special features, the most important of which is their Pay N Play feature. The Pay N Play service allows users to sign up instantly and play at casinos which integrate this feature using their existing payment account. Trustly offers KYC solutions to help operators reduce administrative burdens.
Neosurf, another payment service provider that is heavily focused on the gaming industry. This payment provider is used by many prominent casino operators in the world. It offers an easy solution that includes vouchers, and online accounts. This allows users to make deposits with cash or transfers.
Neosurf accepts many currencies and has vouchers in all major countries. Users can use the service even if they cannot purchase them in-store.
The solution also offers low transaction costs, fast transfer times and an easy-to-use user interface.
Jeton has become a very popular payment service provider in the iGaming sector. This firm provides an online wallet that can accept a variety of currencies. It also allows for the use of over 70 payment methods.
Jeton’s service is quite flexible, offering quick transactions with low transaction costs. Transfer limits for the payment provider are also quite generous, allowing players to easily withdraw their winnings.
Jeton, which has an integrated one-tap purchase function for different crypto tokens, is also very popular when it comes to purchasing cryptocurrency for use at cryptocasinos. It makes it easier for players to play web3 casino games, since they only need to move their crypto assets into their casino account to begin playing.
AstroPay, a well-known online wallet service is very popular. AstroPay is used by many online casinos, and it offers over 200 deposit methods. Payment provider is available in more than 150 countries and boasts over 9,000,000 active users. This makes it an excellent online casino wallet for international operators.
AstroPay offers a loyalty program that is unique. Members can use AstroCoins to get rewards or special benefits. The rewards are customizable to match the user’s preferences. There are six options for sports related rewards, such as those available for fans of motorsports, football, tennis and basketball. The firm’s unique loyalty program is a great payment gateway for casinos who haven’t implemented any player retention strategies.
What are the best casino payment options?
Each of the providers of solutions we examined offers a variety of payment options that deal with currencies differently. Some payment methods use fiat currencies, others only work with cryptocurrencies. Others combine the functionality of an online wallet and a payment gateway, while still others can be used exclusively for direct transfers. We’ll explore some of them. This article by AffPapa will take you deeper into the subject of payment methods for online casinos.
Bank cards, as the most common way to receive and spend money online, are a great choice for any gambling site. Bank cards are flexible, offer minimal fees and complete transfers quickly. They also have generous transaction limits. Most gambling operators use payment providers who can handle credit and debit card transactions. Bank transfers are not the only payment method available.
Transfer/Check by Bank
Bank transfers, the opposite to the credit/debit cards previously mentioned, are rarer in an online casino. Bank transfers are more complicated, offer longer delays and charge higher fees. They excel at large money transfers. It may make little sense to offer bank checks for deposits from customers, but for large jackpot operators it can be necessary.
They are used in the same way as bank cards when it comes to making purchases. However, online wallets can store money and provide several benefits such as enhanced security and buyer protection. Due to these advantages, some of the most widely used online wallets have higher fees or a more complicated integration process. Depending on your provider, their requirements and standards, embedding an online wallet into a gambling site may be more difficult. However, some payment gateways work primarily with the iGaming sector and are likely to offer a simpler setup. Online wallets from popular payment providers will make it worth adding to your gambling site.
Crypto is a great option to switch currencies for online casino players. The crypto currency has a lot of advantages, including its decentralized system, which features no fees and delays, as well as minute charges. However, they do have some downsides. The biggest is the low usage. Many people are hesitant to use cryptocurrencies as normal currencies because of the volatility of these currencies. Many payment providers can only help with the crypto transfer, so players have to create a wallet on the website of the online casino and buy their own coins.
Players can use voucher-based payment gateways to pay at their preferred gambling venues. These casino payment solutions will differ greatly depending on the jurisdictions that an operator wants to be in. They will also vary in quality and availability. They are therefore less popular than online payment options, but they still make a good addition to a payment provider’s catalogue.
Let’s look at local options. They are usually tailored payment systems, such as online wallets and vouchers. These payment providers are highly localized in terms of currency and language options, and they’re generally available only in select jurisdictions. These casino payment providers tend to be only of use for businesses that are focused on specific markets. They also feature high levels of localization just as the payment gateways. International operators might want to look at a local payment provider, if they can offer a large portion of their players the benefits.
The conclusion of the article is:
In summary, choosing the best payment provider for iGaming is a difficult task. This is made more challenging by the sheer number of payment gateways on the market, and all the things iGaming businesses need to take into consideration before integrating their services. It is still worth integrating several easy-to use and popular casino payment providers in order to eliminate any entry barriers that might make players hesitate before depositing.