The first live dealer casinos debuted in 2003, thanks to Playtech, which developed a fusion of "brick and mortar casinos" and the virtual world.
Online casinos make it simple to play the game from anywhere, providing everyone with the opportunity to win a large sum of money.
In his movie The Colour of Money, Paul Newman said, “Money won is twice as sweet as money earned,” which is considered the axiom by gamesters.
What is an online casino merchant account?
Merchant accounts are a type of bank account that allows online gaming companies to accept credit card payments. Your new online casino won't be able to accept transactions made using debit or credit cards like Mastercard or Visa without a merchant account.
The technology that connects a gamester's chosen payment method with the merchant accounts of online casinos is known as an online casino payment gateway. It accommodates electronic payments by allowing players to load and withdraw money from their casino accounts using various deposit methods. Payment gateways may accept everything from bank transfers to credit card payments to cryptocurrency.
How do online gambling payment services work?
Payment gateways at online casinos primarily serve as an aggregator of real-money transaction alternatives. They securely move funds between a gaming website's user base and its merchant account. Payment gateways, however, have a wide range of other uses in the casino industry.
Although the key issue in a casino transaction is the security of the funds. The ideal payment gateway can also facilitate enhanced client retention rates, KYC, ID checks & fraud prevention systems. The payment gateway can improve the user experience by expediting a gaming website's deposit procedure and offering clients multiple deposit and withdrawal choices.
What to consider while choosing a payment gateway?
It is not easy to choose a gambling payment gateway provider as this is a high-risk business and many factors have to be considered before applying. Before selecting a merchant payment gateway, you must ensure the availability of a few key components. You need to check the following features, to name a few.
Security - Casino payment gateways must comply with PCI-DSS certification, CVV Checker and fraud scoring and be integrated with 3D security.
Multi-currency & Multilingual - Nowadays, online casinos are loved by almost everywhere. Make sure your payment gateway accepts multiple currencies and provides multilingual support. Gambling is one of the main areas where cryptocurrencies are being used. Ensure that your casino merchant account provider is facilitating you with new and emerging payment methods.
Additionally, look into the costing, chargeback row prevention and resolution procedures, approval times, contract terms, 24*7 customer assistance, innovative technology, easy integration, and POS solutions.
You now understand how casinos evolved from ancient to modern times. We have also discussed what a casino merchant is, how it works, and what to consider before choosing one. To help you pick, we have compiled a list of the Top 8 Casino Merchant Account Providers Worldwide after comprehensive research so that you can easily choose one.
All over the world, more than one and a half billion Visa cards are in use worldwide. Visa was one of the first companies that facilitated a payment gateway for the casino industry.
One of the most trusted companies in the financial sector, around 10% of the world's population possesses a MasterCard.
PayCly has proven its supremacy in Southeast Asia and now aims to be the best in the world for high-risk payment processing.
Skrill is one of the popular payment gateways that provides casino merchant accounts and exists in more than 200 countries.
Neteller is a wildly popular wallet for online casino payments, much like Skrill.
WebPays is a newly emerging international payment gateway that provides casino merchant accounts with ease. The best part is the lowest fee & several customization options and immediate solutions.
Trustly is also new to the casino payment gateway and it also provides several facilities that can attract a merchant.
Ecopayz proved itself as one of the market's trusted providers.
Paypal also offers a wallet facility along with a payment gateway. One of the largest in the segment.
Gambling has a rich history. Casinos have been in operation now ever since they first debuted in antiquity. If you are looking to start your casino merchant account to be a part of this ancient game. Here we've discussed eight major participants in the realm of online payments. All of our suggested payment methods provide lightning-quick transaction processing times and cutting-edge security measures. Due to their handling of sensitive data, sensitivity toward fraud, and anti-money laundering procedures, they have become the best casino payment provider in the world.
Therefore, be sure to incorporate these crucial payment systems if you plan to establish a new online gaming business. You Can also connect for High Risk merchant account for your online high risk business.