How to choose a payment system for an online casino?
Online casinos should provide easy ways to deposit and withdraw money. The player must be confident in the transparency and security of his transactions. The casino, on the other hand, is interested in the smooth processing of transactions.
Popular payment methods for online casinos
To make deposit, users of gambling sites use several common payment options. Payment options of a good gambling site should include the following methods.
Credit and debit cards
This is the most popular payment option at online casinos. Most often we are talking about cards of payment systems VISA, MasterCard and Maestro.
Pros: availability. The player can issue the necessary card (including virtual) in any bank.
Cons: Not all issuing banks support payments to casino accounts.
Electronic wallets
Payments through electronic payment systems are potential leaders in the gambling niche. For example, Flexepin casino NZ is the best option in New Zealand.
Pros: ease of use, relative anonymity and high transaction speed.
Cons: double commission. The player has to pay it for replenishing the electronic wallet and for the transaction.
Cryptocurrency
It is ideal if the online casino merchant supports the acceptance of digital currency. Players usually prefer mbtc casino sites for the ability to remain anonymous.
Pros: security, the ability for players to bypass government restrictions on deposits and maintain confidentiality.
Cons: Not all casinos support cryptocurrencies.
5 criteria for choosing a payment provider for an online casino
Usability of payment pages
It's easy to confuse a potential payer. For example, if its design is very different from the usual site design, some players will feel uncomfortable and will not deposit money. Good usability is:
- full details of the transaction (amount and purpose of payment);
- information about the data protection measures taken;
- secure https connection;
- minimum number of actions required for payment.
Support response speed
Responsiveness is as important as competence. Ideally, technical support should answer questions in the «here and now» mode. Problems that arise should be resolved as quickly as possible.
Fraud monitoring system
Antifraud is a system that works on the side of the payment provider. Its purpose is to prevent dangerous (potentially fraudulent) transactions. What matters is not only the presence of the system, but also the possibility of its personalized settings.
Online casino payments are different from online store transactions. For example, players massively use VPN access. Standard anti-fraud settings will block payments with a geolocation that does not match the location of the cardholder. And this is just one example.
Therefore, you need to choose a provider that:
- individually determine the fraud risks for the site;
- identifies risky niches;
- analyzes common fraud schemes;
- implement individual fraud monitoring settings.
Payment systems commission
For the possibility of accepting payments at the casino, you need to pay a commission. The payment system, card category, payer's region and dozens of other factors affect the commission amount. In such conditions, you need to look for a payment operator that can offer the optimal amount of commission.
Transaction processing speed
Modern payment services are aimed at instant transfer of client funds. Specific indicators depend on the chosen payment method and can range from a few seconds to 24 hours. Bank transfer processing in some cases takes up to 5 business days. The fastest option is cryptocurrency.
