There are numerous payment methods available for online gaming players that include prepaid cards and vouchers, mobile payment methods, e-wallets, and bank transfers. Some aspects have to be analyzed before going for the payment method that actually suits the iGaming platform. Such payments systems have their own advantages, as the platform has to opt for easy to use and mobile-friendly payment methods, because the players need to deposit and quickly withdraw their funds, instead of going for any difficult process.
Apart from the payment methods, we also need to consider the different means of making a safe payment for the player for instance ID verification, security codes, and fraud prevention. The following are the popular payment methods of payment that online gaming platforms use.
E-wallets are useful, quick, and secure for making any online iGaming platform payments, deposits, and withdrawals. Most of the online gaming players prefer these online financial services of the new-generation. The E-wallets include Siirto, Neteller, Skrill, and many more.
Siirto, developed by Automatia, is a Finnish mobile payment solution that offers real-time transactions on a secure, user-friendly platform. It is used by bank mobile applications and can be used with Nordea Siirto, Pivo, Checkout, SVEA, Euteller, Paytrail, and others. Users will be able to enjoy person-to-person money transfers, real-time transfers, even for iGaming at participating online casinos and sportsbooks. A lot of gaming players search for Siirto casinos to find reliable iGaming platforms, this suggests how popular this payment method is.
Skrill is a popular e-wallet payment method that is regulated and governed under United Kingdom law and works just like PayPal does. Players can load their wallets via several options and use them to fund online casino deposits and withdrawals. The best part is that Skrill is available in almost every country.
Neteller was the flagship provider of online gambling payments but has since dwindled due to the array of available payment options these days. Yet, it still remains a popular method that is widely accepted.
Paysafecard is known for its security. Online gaming players can use this prepaid card with vouchers that have a unique 16-number PIN code. Presently owned by Skrill. It is quite popular among online iGaming platforms.
EcoPayz is another reliable e-wallet that is increasingly becoming a popular method for gaming players. EcoPayz’s ecoAccount feature allows players to perform all of their online casino transactions at one endpoint.
MasterCard or Visa Credit/Debit card
Debit and credit cards are probably some of the easiest ways for people to make online payments. Since both cards process payments quickly and don’t charge fees if you’re purchasing something using your currency. The downside of using this option is that the site you’re purchasing on will have access to your card details and fraud protections exist, and platforms must make sure that encryption is used, but sometimes card details get exposed by hackers.
Bank transfers used to be one of the most popular ways of making online payments for gamers, the expanded availability of various payment methods now makes them less popular among other options. Bank transfers are quite slow and usually takes days for confirmation. Despite this, bank transfers can often be useful for making larger single payments.
You need to make sure that whatever method you use is secure, regulated, and supported by the site or game you’re playing at. Do not reveal your bank details if you’re uncertain of the safety of a platform. Such payment methods can vary widely based on the country, primarily for the non-English speaking markets that support payment systems in various languages.
The available payment methods will vary more when marketing said iGaming platforms and sportsbooks in certain markets where cultural contexts and linguistic require further expertise.