5 must-have Qualities of an iGaming Payment Service Provider

24.12.2024
Quality No.1. Reliability

Along with the total number of payments, the number of scam ones is also growing. On some GEO sites, for example, in India and Africa, you need to stay attentive and focused to catch every detail. It is not surprising that online bookmaker and casinos pay attention to risks first of all.

In order for the payment to be considered reliable, information about their failures and, moreover, that they are scammers should not go around the market. The minimum plan has been completed. What's next? Adhere to the policy of openness (within reasonable limits, of course). The more the payment system is ready to tell about itself, the more willing they will be to cooperate with it. Another indirect sign that the payment system can be considered more reliable is the labor and time that they have invested in their structure — the presence of a legal entity, a large staff, physical offices, financial licenses, PCI DSS. It is also important to be ready to meet halfway — to work with a deposit, to call up, to meet in person, to agree to reasonable limits.

Of course, none of this gives a 100% guarantee that a potential partner can be trusted, but it makes it much easier to determine the riskiness of cooperation.
Quality No.2. The speed of operation

The number one process where the payment system needs to show itself as professionals who know how to work quickly is beating off chargebacks and disputes.

Quality No.3. Partnerships

This is a two-way traffic story. Of course, you can work under a contract (which in many cases costs nothing), but in our field it is especially important to lend a helping hand — it is much more comfortable and, moreover, more profitable to cooperate.

Quality No.4. A variety of payment methods on different GEO

It is extremely unlikely that an online betting shop or casino will give one payment card more than 50% of the volume per GEO, but the presence of different payment solutions in different geographies will definitely allow it to eventually occupy a larger volume.

Quality No.5. An adequate price tag and willingness to negotiate

Any payment system needs to be able to look at the market without rose-colored glasses and take a step towards a compromise. Although we all understand how difficult it can be sometimes.