How to choose a payment gateway for an online casino business?

For a country with a population of around half a million. Malta’s rank as a leader in the online casino industry is outstanding. Industry envisions anticipate a global online casino industry value of 94.4 billion US dollars by 2024 and Malta is a fundamental player. 10% of the world’s online casino businesses are accounted for in Malta, and so an important part of international income is managed by businesses there.

As per the MGA’s record of December 2019, the online casino industry delivered an outstanding 13.6% of the value of the Maltese economy - describing a revenue of almost $2 billion. Although during the pandemic, this only reduced to around 12% of GDP.

The online casino industry is a tremendously significant part of the nation’s economy - and one manner this delivers up is in its part of internet usage. About 50% of the nation’s global bandwidth is devoted to online casino actions!

How prevalent is the online casino business in Malta?

Online casino businesses primarily select Malta as an origin to arrive in the broader European market. Regardless, the local population which is around half a million are also online casino fans:

A record from the MGA shows that 56% of the population often partakes in online casino activities.

Almost 4200 Maltese people play at online casinos weekly.

The average online player spends 49 minutes per week on online casino platforms.

Online gambling is most famous among people in the 18-24 age group, pursued by the 43-59 age group.

What are the primary payment complications in online casino businesses?

Excellent User Experience: One of the primary complications in online casino businesses is to deliver an excellent user experience on both desktop and mobile. This implies that the interface should be as online attractive as feasible and what’s more, easy to comprehend.

Instant payouts: Another primary complication is that customers more frequently than not predict transactions to be instant. Any hold-ups in the payment system may drive customer discontent which could result in a stir and therefore a reduction in income.

The price of transactions can be too increased: Another significant factor when selecting an online casino payment gateway is the price of transactions. In a world where banking costs are on the growth, the preference of payment service providers becomes all the more significant to evade more increased prices. Most banks and payment processors are frequently and constantly increasing their costs and charges and this is making a more complicated situation for online casino businesses.

Brands like to make customers dedicated: A critical factor in any online business association is dedication and faith so it moves without stating that a good business association is crucial in this situation for the processing of online transactions.

Fraud prevention and payments security: With all the issues currently famous in the fintech industry, be it governing, fraud, or scams, it is critical that any online payment processing system has to be admiringly strengthened against fraud.

There have been various well-known cases of fraud and online scams which have left online casino businesses on their knees. So, payment security is a very significant part of online casino merchant accounts.

WebPays offered services with an online casino payment gateway

WebPays delivers various payment services which are most suitable for the online casino industry.

Credit Card Processing

Credit cards are still an essential payment method in various countries such as the Netherlands, Germany, France, Malta, Norway, etc. WebPays processes transactions from all primary credit card networks such as Visa, and MasterCard through its PCI-DSS-compliant payment gateway for casino businesses.

Alternative Payment Methods

Alternative payment methods (APMs) indicate online payment methods other than credit card processing. Delivering APMs is essential as most of these payment choices are very prevalent in specific nations, and even more preferred than performing payments by using a credit card.

WebPays provides different APMs comprising famous brands such as Sofort, Giropay, PayPal, iDEAL, and many more. Moreover, we deliver professional advice to customers notifying them of which APMs should focus rely on the preferred data in various regions.

Which is the most suitable payment platform for online casino businesses?

Firstly, it is critical to choose the most suitable payment service provider that comprehends the online casino industry with numerous payment solution offerings. With an online casino industry that is transforming frequently and with geographic complications such as restrictions becoming even more demanding, the requirement to acquire a top leading payment service provider is essential.

If you have any issues or like to be familiarized with our payment processing services such as our online casino merchant accounts and casino payment gateway solution. Or if you want to share your business’s requirements or talk to our expert team of customer support, then connect with us by filling out our contact form by just clicking here.