Online casinos must provide easy ways to deposit and withdraw money to the player’s account or wallet. The user needs confidence in the security and transparency of all transactions. The owner of the casino, for his part, is interested in the smooth processing of transactions.Gambling sites are a unique niche. They are characterized by active round-the-clock transactions and a broad international audience. What is the main criteria for choosing a payment provider for best payout online casino Canada? Here are several factors for choosing a payment intermediary for this business.
1. The usability of payment pages
It is easy to confuse the potential payer: it is enough to show them a complicated or untrustworthy payment page. For example, if it differs significantly in design from the usual structure of the site, some players will feel uncomfortable and will not make payments. For instance,reliable interac casinos offer individual settings for the payment page. Good usability is:
- complete order data (amount and purpose of payment);
- information about data protection measures taken;
- availability of payment system logos and security certificates;
- secure HTTPS connection;
- a minimal number of actions for payment.
2. Speed of response of the support service
Promptness of answers is as important as competence. Ideally, technical support should answer questions in the “here and now” mode. Since payments at online casinos are practically around the clock, problems should be solved as quickly as possible. Therefore, service support should also work in 24/7 mode. Of course, there are exceptions. Lengthy processing of a client request is allowed, if:
- it is necessary to carry out a long diagnosis or configuration;
- there is a global emergency, and the support service receives hundreds of identical requests.
3. Anti-fraud monitoring system
Anti-fraud is a system working on the side of the payment provider. Its purpose is to prevent dangerous (potentially fraudulent) transactions. It is not only the availability of the system that matters but also the ability to customize it. Payments for online casinos are different from online store transactions. For example, players massively use VPN access. Standard anti-fraud settings will block payments with geolocation that does not match the cardholder’s location. And that’s just one example. That’s why you need to choose a provider that:
- will individually identify the fraud risks for the site;
- Identifies risky niches;
- analyze typical fraud schemes;
- introduce custom settings for fraud monitoring.
4. Payment systems commission
You have to pay a commission to be able to accept payments in the casino. What does it consist of? You can consider the example of card processing. It involves:
- the acquiring bank;
- the international payment system;
- the issuing bank;
- an intermediary (for example, a payment aggregator).
Accordingly, the commission consists of the transaction fee of the international payment system, the fixed payment in favour of the acquiring bank, and the interchange fee. The casino belongs to the high-risk category. That is why the payment system assigns additional costs for the risk of chargebacks. The payment system, card category, region of the payer and dozens of other factors influence the commission rate. In such conditions, you should look for the payment operator able to offer the optimal commission amount.
5. Transaction processing speed
Modern payment services are aimed at the instant transfer of the client’s funds. Specific figures depend on the selected payment method and can range from a few seconds to 24 hours, and bank wire transfers can take up to 5 business days to process.
6. Global Payment Support
Fast processing of cards for gambling, support of payments from any part of the world, absence of restrictions and sanctions for payers – that is what all online casinos need.
7. Payment security
Characteristics of the payment operator that can ensure the security of all transactions:
- SSL protocol – makes it possible to transfer encrypted data from the user to the server using an HTTPS connection;
- PCI DSS compliance. International payment systems implemented it for bank card data protection. It is obligatory for all operators who service online payments by cards;
- 3-D Secure technology. It verifies the payer’s identity. It is helpful for a gambling site because it shifts responsibility for fraudulent transactions to cardholders.
8. Stability and credibility of the acquiring bank
It is necessary to clarify with which banks the payment service interacts. Also, it is important to review a gambling law in Canada. Afterwards – check these financial institutions via independent websites: read reviews, and find out their status and rating. It is also worth finding out how long the bank has been working in the niche of Internet acquisition. The longer, the better the technical processes are tuned up.
9. Reports and analytics
A convenient merchant account for gambling provides round-the-clock access to information about completed transactions. It is ideal if the administrator of an account can quickly generate a report with the necessary indicators or analyze specific transactions (for example, at the client’s request).
What is the difference between gambling and other payment system sites?
Several factors distinguish gambling sites from other commercial projects:
- The high-risk category limits the number of services willing to provide transaction processing.
- Regional bans and restrictions (for example, in some countries, it is forbidden for the users to deposit the gaming deposits by credit cards).
- The high fraudulent activity requires high-quality fraud monitoring.
- A large number of requests for refunds also leads to restrictions.
Popular payment methods for casinos
Users of gambling sites use several standard payment options to make a game deposit. Naturally, a proper payment system for slot machines and casinos should support these methods.
Credit and debit cards
These are the most popular payment options at online casinos, especially in Canada and the United States. These are often cards of VISA, MasterCard and Maestro payment systems. Bank cards are also popular in the European part of the continent, but they steadily supersede alternative methods of making game deposits.
Pros: availability. The player can get the necessary card (including virtual) at any bank.
Cons: Not all issuing banks support payments to casino gaming accounts.
Payments through electronic payment systems are potential leaders in the gambling niche.
Pros: Ease of use, relative anonymity and high transaction speed.
Cons: double commission: the player has to pay it to upload the electronic wallet and the transaction. In some countries, the authorities control and limit the work of electronic payment systems.
The opportunity to deposit directly from your bank account without using a payment card or registration in the payment system.
Pros: speed, familiar, user-friendly interface for the user, security.
Cons: possible restrictions from some banks.
It is ideal if the merchant for online casinos supports the acceptance of the digital currency. Players prefer bitcoins and altcoins for the possibility of anonymity.
Pros: security, the ability for players to bypass government restrictions on deposits and maintain privacy.
Cons: Not all casinos support cryptocurrencies. Or the choice is limited to the most popular options.
Popular methods of withdrawal from online casinos
The principle is as follows: the number of ways to withdraw funds directly depends on the available options for making a deposit. Specific options depend on the capabilities of the payment provider, as well as the rules and restrictions of the gambling project. For example, some sites allow you to withdraw funds using the player’s method to make a deposit. At the same time, there may be a restriction: if the amount of withdrawal exceeds the total amount of the prepaid deposit, it will not be possible to make a one-time withdrawal. This is a forced rule to protect against fraud: if an intruder gets hold of a player’s deposit, he will not be able to steal money from it.
The most popular ways to deposit and withdraw money at online casinos
Choosing a payment system for the casino, you need to consider the most popular players’ payment options:
- VISA, MasterCard – the most popular payment system. Provide (on their part) fast processing of card transactions, global availability and security.
- Neteller – electronic payment system, prevalent among casino players. Reliable and secure.
- Skrill is a direct competitor of Neteller. Similar characteristics and functions.
- PayPal – is an internationally known payment system with a convenient interface and a sufficient level of anonymity.
- Bitcoin is the most popular cryptocurrency. Many experts believe that it will replace fiat (standard money) in the future. Now it is valued for its anonymity, fast transactions and relatively stable rate.
- Trustly – a web-banking platform which allows paying online without using a bank card.
How to evaluate the complexity and cost of integrating a payment system with a website?
Payment system integration configures the interaction between the site and the processing tool. The most complicated type of integration is via API. This is called the “server-server” type programming interface. After such a connection, the administrator of the casino site can independently create a payment page in the style and form he needs. The payment operator provides acquiring for online casinos and gives full access to information about transactions.
There is a more straightforward type of integration: forming a secure payment page. In this case, the casino customer is redirected from the site to the payment system page. Or an iframe generated by the payment intermediary is opened on the casino’s site. Such a page cannot be branded according to the casino’s style. As for the implementation cost – it all depends on the terms and conditions of the payment operator. For example, some aggregators offer free connection and high-quality technical support for the process.
The best payment system for online casinos is a multifunctional aggregator. It should provide protection of transactions, a user-friendly interface, and a wide choice of payment instruments. At the same time, an optimal tariff policy and ease of connection to the site is welcomed. It is pretty realistic to find such systems.