The online casino industry is witnessing an amazing growth rate. To put it precisely, the industry acquired a market size of $53.7 billion in 2019. Now going forward in 2020, we expect the industry to grow even further as more and more gamers patronizing online gambling. The ongoing coronavirus pandemic has also forced people to stay indoors and as a result, the online casinos are witnessing a massive surge in demand.
Online Payment Gateway
Thanks to the upgrade in technology, people do not today need to go to the casino to play games physically. Online casinos are becoming a preferred choice, and while people research the gaming interface offered by a particular casino, they tend to forget how important it is for them to take a look into online payment gateways offered by the casino. Doing online transactions is still a sticky issue that keeps many gamers from trying the online version of casinos. People are still skeptical about the credibility, safety, and security of the online payment methods, and hence, the issue of online payment gateways needs a serious exploration.
What is the Online Casino payment gateway?
A payment gateway services can be defined as a service used by merchants to connect with their users in terms of making transactions. During a payment processing system, users need to choose a preferred method of payment, fill out some of the necessary information required, and then proceed ahead with the transaction. The payment gateway then processes the transaction and transfers the amount to the merchant account.
An online casino payment gateway works on similar lines, albeit with some differences. First of all, gamers will use the payment gateway in order to deposit money in their own accounts. Similarly, the payment gateway solution will be used by gamers to withdraw the money. The payment gateway will only transfer the money to the casino in case the gamer loses a game or pay some transaction fees for taking part in the game.
Another difference is the way payment gateway solutions consider the gambling industry. As the casino industry is considered a high-risk industry, online casinos have to open a separate payment gateway account with the service provider. Yes, some online payment gateway solutions today accept the merchants from the casino industry in the same business category, but then they charge extra fees for that.
Credible Choices in the online payment gateways
There are a handful of credible choices available in the market when it comes to online casino payment gateways. Ellepay is one reputable name that has carved a place for itself in the industry. It offers very reliable payment services and thanks to robust technology adopted by the company, the transactions through the payment gateway are quick and safe. STICPAY is another promising e-wallet solution that offers a fast and convenient method to deposit and withdraw the money. We also have an AA Casino solution, which is offering its payment services to several countries across the globe to facilitate the money transfer between merchants and users.
Revenue generation is one of the most important aspects of running any successful business. The online casino payment gateways are directly related to the revenue generation and have a massive impact on the way gamers perceive the image of the business in their mind. For users also, the safety and security of the casino payment gateways are of prime importance as it directly relates to their money aspect. Hence, you must do proper and comprehensive research before choosing an online payment gateway as the decision could impact your fortunes considerably – both as the merchant and user.