What Is an Igaming Payment Gateway?
An igaming payment provider is a platform that enables gambling businesses to process payments, including deposits and withdrawals. It supports multiple methods and ensures compliance with regulations, as well as providing fraud protection to create a seamless and secure transaction experience for players. The best igaming payment gateways also offer hassle-free prize money payouts, which boost user satisfaction and loyalty.
In terms of the technical specifications, a good iGaming payment gateway should support a range of different currencies and payment networks, as well as offering API integration for easy implementation on iGaming platforms. It should also be able to handle large volumes of transactions, and offer competitive pricing to maximise revenue for the online casino or sportsbook.
Benefits of Multi-Currency Support in iGaming Payment Gateways
A gaming payment processor should also have robust security protocols to prevent data breaches and ensure the safety of users’ personal information. It should also have a dedicated team to monitor and resolve any issues that may arise.
Payment methods and payment gateways are two distinct concepts, but often confused by players and iGaming industry professionals. The payment method is the medium used to send funds, and the payment gateway oversees the technical process of authorising or declining a transaction based on information received from various sources. For example, the payment gateway will verify a credit card number before authorising it. Meanwhile, eWallets are tools that provide features to manage personal (and sometimes business) finances and are capable of making payments but don’t necessarily serve as payment gateways.