A Payment gateway is a technical solution for business that helps to handle online transactions securely. It plays a vital role in the online transaction process and authorises transactions between merchants and customers.
However, due to the inherent risks associated with gambling, companies in the gambling and casino industries are often considered high-risk by banks and payment service providers. Therefore, choosing the right online casino payment gateway is crucial to ensuring the success of your online casino business and minimising the associated risk.
Why Online Casinos Considered High-risk by Banks?
1. Higher Transaction Volume
This makes it difficult for gateway partners to keep up with monitoring and assessing transactions, thereby increasing the risk of fraud and security issues.
2. Higher Rate of Chargebacks
Gambling websites are known to experience a high frequency of fraud attempts in the form of chargebacks, which can be costly and problematic for the business.
3. Higher Service Fee
Online gambling businesses often face a range of other complexities and financial risks. For example, as a high-risk industry, businesses may have to pay higher fees for gateway services than other industries.
4. Higher Regulatory Obstacles
The gambling industry is typically heavily regulated, requiring payment gateways to comply with a range of requirements in order to process payments, which can be a significant hurdle for businesses in this industry.
Types of Online Casino Payment Gateway
1. Redirect
Redirect, or a hosted gateway is widely used by online casinos for its simplicity and security. For instance, A player who wants to deposit is redirected to a separate page of the payment gateway service provider to enter payment details to complete the transaction
2. Off-site Payments
Similar to hosted gateway, in which the payment process takes place through a third-party provider , your players need to provide their bank details on your casino’s website if you are using off-site payments.
3. Direct Pay
If you own a big casino and want everything in control, this could be your best payment gateway solution, despite the extremely high cost and technical support needed.
Criteria of Choosing Online Casino Payment Gateway
1. Security
A decent payment gateway must guarantee the safety of players’ funds and personal details, while also minimising the risk of any kind of fraud.
2. Processing Speed
Speed is the key to reducing your player’s waiting time and increasing their satisfaction, and a well-thought-out system also includes the generation of reports.
3. Transaction Fee
High transaction fees may easily put off your player’s interest to deposit their money into your platform.
4. Easy Installation
A payment solution in casinos should take minimum time and not change the source code of the gambling project.
5. Multi-currency
Products with settlements in both fiat and digital currencies are an excellent choice.
6. Customised Settings
The payment gateway should support cash back options and allows for the management of regular and automatic transfers.
Getting Started to Online Casino Payment Gateway
Choosing a great payment gateway leads to the success of your online casino. With more than 20 years of experience in the industry, GamingSoft only carries the most reputable and trustworthy payment gateways for your business.
Receive and send transactions quickly, safely and securely for online casinos, sportsbooks, slots and other online gambling websites in Malaysia, Thailand, Indonesia, Vietnam, and all the other regions in Southeast Asia. With our seamless wallet integration and cutting-edge security, your site will have minimum transaction times and maximum protection!
Why GSPAY?
1. Fast and Easy Setup
Accelerate the pace of implementation and rollout. Because our payment API is so flexible, you’ll encounter fewer hurdles and have a clearer path to take off.
2. Quick Settlement
Enhance your company’s financial flow. With GSPay, you won’t have to worry about waiting around for your settlement to be processed. If and when you require funds, we will make them available to you.
3. Elite Help Desk Services
Whenever you need us, you can count on us to be there. Whether it’s a major issue or a little one, you can count on our support team to be there for you every step of the way.
4. Safer Transactions
Safety is our top concern. Our platform has stood the test of time, and our security mechanisms are only getting stronger as we enhance them, so you never have to worry about security breaches.
5. Internal Risk Management
Get rid of any internal threats to your assets. We’ve designed our infrastructure so that you may divide access rights amongst different groups of users based on their roles, facilitating communication among staff while keeping sensitive data and financials secure.
6. Supported Banks & Currencies
Contact us at [email protected] now for more information!
