Online gambling

How to choose a payment gateway for online gambling?

In online gambling, it is extremely important to provide the best possible experience of using the services. The right payment gateway not only makes your job easier, but also attracts many other potential customers. From the beginning, we suggest you pay attention to Corefy, where you can easily select a gambling payment gateway. Here you can also work in online gambling with only one payment service or select a few- ones, depending on your needs.

If you have not found the most suitable payment method, it will be very difficult to profit from the business. This is due to the difficulties encountered by customers who simply cannot cash out or make the basic deposit. So if you are looking for a payment gateway for your game right now, we can help you make the right decision.

So what is a gaming payment gateway?

If you are new to business and unfamiliar with the concept of a payment gateway, you may run into difficulties. It should be noted that if you already work in the online game, it will not be so difficult to figure it out. This common modern technology enables convenient and fast money transfer to the final recipient. The gambling payment gateway plays a rather important role in the flow of remittances. The operation takes place in two stages:

  1. The transfer of data from the online game to the banking system and the decision to accept or refuse the transfer.
  2. Sending money from the buyer of the service to the seller (or vice versa).

In our case, the buyer is a player and the sellers are online gaming platforms. Sounds simple enough, doesn’t it? This is the primary goal of every payment gateway, so we’ve figured out the basics in just a few minutes.

What is a Game Walkthrough?

An effective gateway solution technology is much more complex than its explanation. Nevertheless, we want to give the simplest explanation so that even a newcomer to the online game can understand it. The main thing you need to understand is that the purpose of a payment solution is the correct transfer of money from the starting point to the final recipient. We will divide this whole process into several steps, which will be understood by everyone, even those who have minimal experience in the field.

How does a payment gateway solution work?

Since all transactions are conducted electronically, the importance of the payment gateway can hardly be overemphasized. So now we’ll take a closer look at the payment solution, breaking the process down into steps one by one:

  • The bettor enters his bank details, then the online gambling service vendor receives and sends this request. Then the operator must send a request to the payment gateway.
  • This information reaches the recipient and the payment gateway sends it directly to the desired financial institution.
  • All previously entered data is now checked for accuracy. This is a very important step in online payment, as it is possible to determine whether there is enough money in the account.
  • When the transaction is finally approved by the financial institution, the data is transmitted directly to the payment gateway for onward transfer to the casino.

We have discussed how the payment gateway solution works so that you can understand the complexity and the multi-step process. It seems that only a minute passes in online gambling, but in fact it is a lot of consecutive operations. If you are having difficulty with the online game payment gateway, we recommend that you pay attention to iGaming.

What varieties are there?

Now we will consider several types of payment gateways for gambling – these are redirects, websites or payments from third-party resources. The first option is particularly popular in the field of online gambling because its main advantages are security and simplicity (compared to other types of payment gateways). The player is immediately redirected to the recipient’s page.

The offsite payment gateway offers the same benefits, but less liability. On-site payments are perfect for big online gaming brands that need a lot of control. This way, you will be able to completely eliminate high-risk transactions and not have to worry about the cash register, regardless of the circumstances. When it comes to security, a merchant account is the riskiest. Additionally, a merchant account can be quite expensive. Before you open a merchant account, you need to take care of chargebacks and fraud prevention tools.

You can also consider a merchant account if that is profitable for you. To set up an advanced and secure merchant account, it is best to contact a trusted specialist.

Let’s talk about payment methods and other issues

Now that we know a lot more about the payment gateway, it’s time to look at the flip side. Let’s talk about payment methods and focus on the most popular ones. Of course, the most common payment method in the world is the debit card, which many people use.

Other payment options also include credit cards and e-wallets. In addition, cryptocurrency as a payment method in online gambling is also gaining popularity. Take note of this point in your casino.

Another no less common payment solution is of course the bank transfer. This type of gambling payment is very well protected by the financial institution, so neither party is at risk. Users concerned about anonymity are much more likely to opt for game payment vouchers or special prepaid cards.

The chosen payment system must be integrated with the online game, as well as the payment gateway. Please note that it is cheaper to integrate a payment gateway using a third-party service. The online gambling platform may charge a percentage for each transaction or a fixed price. The payment system you choose to integrate will determine the final cost.

If you are looking for a payment gateway for a gambling site, we recommend that you check the solution on the official Corefy page.