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9 Aspects to Look For in a Top iGaming Payment Provider
There are hundreds of iGaming payment providers out there. Which one will meet your demands? Many businesses ask this question. Not many get the right answer.
With the global online gaming market expected to reach $127 billion by 2027, getting the right iGaming payment services is paramount. Simply put, the better provider you have, the more customers you can serve, the faster payments will be, and the higher your income you will have.
Yet, choosing the right provider can be challenging, especially with the unique needs of high-risk industries like iGaming. In this piece, we will go through a nine-point checklist. These steps ensure you enter a pool of top iGaming payment providers.
So, buckle up.
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1. Verify If an iGaming Software Provider is High-Risk Friendly
iGaming is a high-risk industry. That means higher fees and more scrutiny. Choose a provider specialising in high-risk sectors to avoid disruptions and reduce transaction rejections.
Keep note: Not all payment providers are willing to work with high-risk industries, leading to potential delays or increased fees.
The right iGaming payment provider must have these aspects to be truly high-risk friendly:
- Have no volume restrictions
- Understand the industry to the bone
- Provide a dedicated account manager with expert knowledge of the sector
- Support licenses in different jurisdictions
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2. Check How Long It Takes for an iGaming Payment Provider to Open a Business Account
Now, you narrowed down the list of best payment providers for iGaming. The next important question to ask:
 How long will it take to open a business account?
In most cases, when you need to open a business account, you can expect two challenges:
- Lengthy approval process.
- A lot of documents to provide.
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Many banks does not understand industries like iGaming. That is why they ask tons of unrelated questions and require documents you donât simply have. As a result, getting a business account can take weeks or months.
A good provider opens a business account for you in several weeks. A great iGaming software solutions provider opens a business account in about 48 hours.
https://account.paydo.com/en/auth/business/sign-up
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3. Make Sure an iGaming Payment Provider Has SWIFT In Their Arsenal
For international transactions, SWIFT is a must. This scheme allows for faster, more secure iGaming transactions. It reduces delays and ensures smooth processing of player deposits and withdrawals.
Without SWIFT, iGaming operators risk slower processing times and dissatisfied players. Yet, the rule of thumb dictates that the more payment schemes you have access to the better.
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4. Does iGaming Payment Provider Offer Multiple Currencies?
This should be your next question. Even if an iGaming payment provider is high-risk friendly, opens a business account fast, and is connected to SWIFT, this does not mean you get many currencies to work with. You still need to pay contractors in their local currency.
Also, setting up a multicurrency account can come at a significant cost. Banks and EMIs impose additional charges for each extra currency you might need.
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5. Check If an iGaming Payment Provider Offers Merchant Services
If you have a website accepting payments, you need a good checkout.
What constitutes a âgoodâ checkout?
In most cases, the number of chargebacks, holds, rolling reserves, as well as payment methods available. Besides, you want a checkout that can be easily integrated.
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6. What About Mass Payouts?
Every iGaming operator knows how hard it can be to send multiple payments to several customers. When you donât have mass payments with your iGaming provider, every payment must be made one by one. Without saying, it will take a lot of your time and nerve.
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7. Confirm Whether an iGaming Payment Provider Have Virtual and Physical Cards
Virtual and physical cards allow flexibility for both business payments and player withdrawals. They can be used for payouts, ad spending, or corporate expenses. Besides, having a personalised plastic card speaks volumes about your brand.
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8. Compliance With Global and Local Regulations
After going through the arsenal of services of a chosen best iGaming payment provider, the next logical step is to look at compliance. You must be sure a selected provider has the legal right to provide certain services and operate in partnership destinations.
To illustrate, as an iGaming payment provider, one should have at least these:
- The Financial Conduct Authority (FCA).
- Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
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As an add-on, a good iGaming payment provider should have an Authorised Electronic Money Institution (UAB) license. This one allows the platform to issue electronic money and offer related financial services within the European Union (EU) and European Economic Area (EEA).
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9. Double-Check the Security Measures an iGaming Payment Provider Implements
For top iGaming payment providers these security measures are non-negotiable:
- Built-in anti-fraud.
- PCI-DSS Level 1 compliance.
- 3D-Secure (3DS) technology.
- Anti-money laundering (AML) protocols.
- Automated KYC.
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PayDoâAll Payment Solutions in One Place
While all roads lead to Rome, all aforementioned aspects lead to platforms like PayDo.
PayDo is a payment ecosystem. It made sure all the aspects we talked about were covered. Namely, the platform is:
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1. High-risk friendly:
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- No volume restrictions.
- No hidden fees
- No minimal commitments
- No minimal balances
- No nonsense requirements
- All iGaming licenses (Curacao included).
- In-depth understanding of high-risk industries.
- Curacao and other licenses supported
- A dedicated account manager with extensive experience in iGaming
- Momentary payouts
- Scheduled payments
- 140+ destinations
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2. Business account opening:
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- Takes about 48 hours.
- Completely remote.
- Requires a standard package of documents.
- Onboarding is as quick as verification.
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3. Nine payment schemes:Â
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- SEPA
- SEPA instant
- Fedwire
- Target 2
- FasterPayments
- Chaps
- BACS
- Kronos2
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4. Multicurrency:
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- Dedicated IBAN with 35+ currencies and 150 countries.
- Personal account with 12+ currencies.
- No extra charges for currencies.
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5. Checkout:
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- Zero chargebacks
- No holds or rolling reserve
- Easy API integration
- 350+ payment methods
- Localization
- Instant settlements
- Conversion rate > 98%
- Unlimited websites
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6. Mass Payouts:
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- Automatic payouts without any manual inputs.
- Customers receive their funds without fees.
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7. Virtual and Physical Cards:
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- Offer employees personalized cards.
- Improve corporate expense management.
- No limit on issuance.
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8. Compliance and Security:
1.Licensed by:
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- FCA.
- FINTRAC
- UAB.
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2.Security measures:
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- Built-in anti-fraud.
- PCI-DSS Level 1 compliance.
- 3D-Secure (3DS) technology.
- Anti-money laundering (AML) protocols.
- Automated KYC.
- Encryption.
- Safeguarding.
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Besides, recently PayDo was nominated for the Payment Innovation of the Year award at a
reputable iGaming-focused SBC 2024 convention.
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Finally, PayDo have become a SWIFT Direct Participant. Now the platform can send and receive messages directly through the SWIFT network without intermediary banks.
For PayDo clients, it means faster transaction speed and fewer delays.
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Conclusion
When choosing a payment provider for iGaming, check these aspects:
- High-risk friendly;
- Business account opening;
- SWIFT availability;
- Multiple currencies;
- Merchant services;
- Mass payouts;
- Virtual and physical cards;
- Compliance;
- Security measures.
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The list is that long because top iGaming payment providers like PayDo work hard to develop a solution that will stand out in a competitive market. With PayDo, you get the services of 8-9 payment providers in one place and under one contract.
Donât hesitate to open an account right now. We are ready when you are!
The post 9 Aspects to Look For in a Top iGaming Payment Provider appeared first on European Gaming Industry News.
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SOFTSWISS Launches Bug Bounty Program to âHack the Systemâ
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SOFTSWISS, a leading software supplier in the iGaming industry, has announced the launch of its private Bug Bounty Program to boost cybersecurity. The program invites white hat hackers and independent security researchers to identify vulnerabilities, offering rewards for their findings and ensuring the highest level of security for SOFTSWISS clients.
To ensure that only significant cases that meet specific requirements are reported, SOFTSWISS launched a private program with invitation-only access. Invitation-only programs encourage white hat hackers to pay close attention to their terms and requirements, resulting in higher-quality reports. While public programs can offer broader perspectives but tend to generate more irrelevant reports, the private launch ensures that the focus remains on critical security issues.Â
The Bug Bounty Program offers financial incentives of up to 3,500 euro, depending on the severity and complexity of the discovered vulnerabilities. This program serves as an additional layer of defence, providing external, unbiased assessments from highly skilled security experts.Â
âWe care about the security of our clients and their players, which is why it is important for us not only to pay close attention to protecting the products we develop but also to constantly recheck our applications with the help of skilled external experts and enthusiasts. In collaboration with the expert community, we can ensure a reliable level of data protection and uninterrupted operations for all our clients,â said Evgeny Zaretskov, Group Chief Information Security Officer at SOFTSWISS. âSOFTSWISS is proud to set a new standard for cybersecurity by leveraging crowdsourced expertise. In this ever-evolving landscape, even a minor bug can lead to significant losses for operators. The Bug Bounty Program is an extra measure to protect our existing and future clients.â
The program has started with two products: the SOFTSWISS Casino Platform and the SOFTSWISS Sportsbook. It is conducted in a dedicated test environment, which operates independently of live casino systems, ensuring no disruption to player experience or platform performance.
âCybersecurity is an ongoing battle,â adds Artyom Buchkov, Deputy CSO. âNo company can discover all vulnerabilities on its own. This program enables talented hackers to legally hack an online casino, helping us anticipate and defend against potential threats. It strengthens our commitment to providing the most secure software and platforms in the iGaming industry.â
Moving forward, the SOFTSWISS cybersecurity team plans to broaden the frames, adding more products and refining requirements to maintain the highest standards of security across all platforms.
Cybersecurity in iGaming, along with other key topics in the industry, can be discussed with our specialists and product teams at the SBC Summit Lisbon at stand B-160 from 24 to 26 September.
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About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The companyâs product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the worldâs first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post SOFTSWISS Launches Bug Bounty Program to âHack the Systemâ appeared first on European Gaming Industry News.
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Peter & Sonsâ Unleashes âEvil Devilâ Slot
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Cutting-edge game studio Peter & Sons is about to unleash hell. The Barcelona-based outfitâs diabolical new slot, Evil Devil, will be released globally on 19th September, and it comes packed with wickedly innovative mechanics, such as sticky respins, power splits, increasing multipliers, and a thrilling Free Spins Game with a possible buy option.
This 6Ă7 high-volatility video slot with up to 117,649 ways to win immerses players in a cartoonish hellscape presided over by the fiery lord Satan Sama. With a devilish surf guitar soundtrack and chaotic but gripping gameplay, thereâs nothing else quite like it on the market.
Winning combinations in the base game trigger the sticky respin feature, causing winning symbols to stick in place while the non-winning symbols respin. Wild symbols can appear on reels 2 to 6, increasing the chances of forming winning combinations.
But all hell breaks loose when 4 to 6 scatter symbols land on the reels, awarding 15 to 20 Free Spins. Here, winning symbols stick to their positions, triggering a respin of the non-winning symbols.
Collecting three or more skull symbols during Free Spins triggers a random multiplier. Meanwhile, power splits can randomly occur during the first respin, converting winning symbols into wilds, enhancing the chances for some big payouts.
Canât wait to hit the bonus feature? The good news is you can buy straight into the Free Spins game for 100x the bet, instantly accessing 15 to 20 random free spins and the gameâs most thrilling features.
Yann Bautista, Commercial Director and Founder at Peter & Sons said: âWeâre always looking to push boundaries in everything we do, and we like to let our artistsâ imaginations run wild. Too often with online slots you see the same tired themes and clichĂ©s. We think Evil Devil is an avant garde masterpiece â but itâs underpinned by solid mechanics and brilliant features.â
The post Peter & Sonsâ Unleashes âEvil Devilâ Slot appeared first on European Gaming Industry News.
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Aston Villa launches Champions League campaign with Betano by its side
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The Villans and their principal partner celebrated the clubâs return to topflight European football, in an event bringing togethers legends of the past and stars of today
Aston Villa FC has embarked on its first ever Champions League journey with a 3-0 victory over BSC Young Boys in Bernâs Stadion Wankdorf this past Tuesday. A few days earlier Aston Villa and their principal and front of shirt partner Betano, Kaizen Gamingâs premium online sports betting and gaming brand, celebrated the Villansâ historic first ever Champions League campaign with a special event hosted at Aston Villaâs Bodymoor Heath training ground.
The event brought together legendary members of the 1982 European Cup winners, Nigel Spink and Kenny Swain, former player and Aston Villa ambassador, Ahmed Elmohamady and current stars, captain John McGinn, Ezri Konsa, Pau Torres and of course coach Unai Emery. Attendees had the opportunity to meet and hear directly from their favorite stars, while also participating in different activities, including an exclusive tour of Aston Villaâs training facilities and a behind the scenes look of the teamâs training session. The clubâs third kit was also unveiled for the first time ever during the event. The kit proved to be a lucky one as it was worn in a game for the first time in the Champions League match in Switzerland. For this match Betano donated its front-of-shirt space to Aston Villa, which in turn offered it to Acorns Childrenâs Hospice.
Julio Iglesias Hernando, Chief Commercial Officer at Kaizen Gaming, commented: âWe are very honoured as Aston Villaâs official main shirt sponsor to stand alongside them in this next exciting chapter of their illustrious 150-year history. This is truly an exciting time to be a fan of Aston Villa, as we all share the clubâs passion and determination to improve every day, to compete with the very best and to claim their place among the elite.â
Chris Heck, President of Business Operations at Aston Villa, added: âWe are proud to have Betano join us as we embark on a new era for Aston Villa. They are a global brand engaging with millions of football fans across Europe and Latin America which matches our vision to globalise our club. Their passion for football and commitment to responsible gaming and giving back to society aligns perfectly with our own club values. The return to the top of European club football is an exciting moment for our fans, partners, and everyone involved at the club. â Â
The post Aston Villa launches Champions League campaign with Betano by its side appeared first on European Gaming Industry News.
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