In this article, you will find 9 of the best casino payment solution providers to boost your iGaming business in 2023.
Some of the most important systems of an online gambling operation are the payment gateways. After all, they are integral to the casino experience, as players need a way to collect their winnings and operators need a way to receive their earnings. That means that choosing the right casino payment solution providers is quite important, which is not made easy by the number of different currencies and payment methods available on the market. We’ll cover what operators need to look for when choosing payment providers to work with and which casino payment methods are the best for them.
Table Of Contents
- What are the functions of a casino payment provider?
- Things to look for when choosing payment gateways for online casinos
- Best casino payment solution providers
- 1. Skrill
- 2. Neteller
- 3. PayPal
- 4. PayCryptos
- 5. Google Pay
- 6. Apple Pay
- 7. Interac e-Transfer
- 8. iDEAL
- 9. Trustly
- Best types of casino payment methods
What are the functions of a casino payment provider?
Casino payment solution providers develop and maintain specialized systems to facilitate the transfer of funds in a variety of forms between a player and an operator. Their job is to act as an intermediary to make sure that the correct amount of funds get sent to the rightful recipient in a timely manner. They may sometimes even provide an interface to further streamline their users’ experiences. Payment gateways for online casinos mainly take the form of some sort of cloud-based software. Their functions seem pretty self-explanatory and simple at first, but there are a lot of intricacies when dealing with large amounts of transactions utilizing varying currencies. That means that not all casino payment service providers will offer all of the options and features that an operator may desire. But what are the most important things an online casino might need to look for in a payment service anyway?
Things to look for when choosing payment gateways for online casinos
The things that matter the most for online gambling companies boil down to a high degree of usability. This can be broken down into three key components that differentiate the best casino payment solution providers from the competition, namely availability, convenience, and minimal fees/limits.
The first one is pretty self-explanatory, the more people can access an online casino payment method, the better. Most providers have their services available worldwide, although some payment solution providers for online casinos only work in a specific country, state, or province. These local options may sometimes be beneficial to have, which we will discuss more thoroughly a bit later. However, for most operators who want to have an international appeal, having worldwide availability is the way to go.
Tying in closely to the main objective of high usability, convenience is pretty important. Most casino payment methods are simple and effortless to use, offering instant transactions with a click of a button. There are, however, some methods that require more work than that, the classic example of which being bank wire transfers. To get a seamless experience for the player any barriers to entry need to be minimized or eliminated completely. Speaking of which, our next point is a common one that operators aim to improve on.
Fees and limits
Some of the largest things getting in the way of players making deposits are transaction limits and fees. A lot of people view fees as their money just going nowhere and contributing nothing to the product they are purchasing, so it is important to get them as low as possible. On the other hand, while limits seem to be not as big of a deal as fees, it is still important to maximize them to avoid any issues, especially when paying winning customers.
Best casino payment solution providers
Now let’s take a look at some of the most popular online casino payment solution providers out there, starting off with Skrill.
Offering its own prepaid credit card, Skrill is quite a flexible online wallet. Their services are quick and require minimal fees on deposits, though they have a 5.5 dollar fee on withdrawals. They are quite popular with online gambling companies, so frequent gamblers will most likely already have a Skrill account.
Apart from gaming, the service is quite widespread in the jurisdictions it operates, further making it a good option for online gambling operators. Moreover, they are backed by Paysafe Group, which has a wealth of expertise in providing financial services around the world. Speaking of which, our next provider is also a subsidiary of the same corporation.
Neteller is another prominent casino payment solution provider offered by Paysafe Group. It is focused more on money transfers, as opposed to offering a wallet solution, and works with a wide range of currencies worldwide. It supports processing from the most popular bank card types around the world, as well as from a couple of similar payment providers such as PaySafe and iDEAL, the latter of which we will explore later.
Additionally, Neteller can also be used with cryptocurrencies, offering users a higher degree of flexibility. The firm does have some downsides, however, requiring fees that hover around the 2.5% mark on average and having transaction limits of around 20 thousand currency units per month.
PayPal is one of the most widely adopted payment solutions and online wallets in the world. Their services work pretty much anywhere, although some regions may have trouble when it comes to receiving money. The firm has a number of unique offerings, such as its own credit card and its Pay Later feature, the latter of which allows users to purchase items with a short-term loan.
PayPal works with pretty much all currencies out there and offers automatic currency conversions for its users, making it possible for an operator to not support all currencies directly yet be able to receive deposits with them. It also offers reasonable transfer fees of around 1.7% and generous transaction limits.
Next up, let’s talk about a crypto-focused casino payment provider. PayCryptos is a payment gateway for online casinos developed by the iGaming provider SoftGamings. That means that the system is tailor-made for online gambling operations, making it a great option to integrate cryptocurrencies into an online casino website.
Just like the innovative technology it focuses on, the solution is available worldwide and offers competitive terms thanks to having no intermediaries to work around. It supports 8 blockchains and over 16 crypto coins, including some of the most popular ones on the market such as Bitcoin, Ethereum, Tether, and Dogecoin.
Being available pretty much anywhere in the world on nearly all mobile devices, including Apple’s iPhones and iPads, Google Pay is an excellent payment gateway for online casinos. Allowing users to link their credit or debit cards to make transactions without inputting all of their data for each new service, Google Pay offers a lot of convenience for its customers.
It is also widely used around the world for day-to-day shopping and other activities, presenting a lower barrier to entry. The service offers low transaction fees of under 2%, although in certain regions less than ideal transaction limits may hinder its usability. However, Google Pay’s massive availability will easily overshadow any disadvantages.
Being quite similar to the last service, Apple Pay offers a lot of the same benefits as Google Pay. It allows users to have multiple credit and debit cards and choose which one to use for any given transaction. Thanks to its ease of use, it is another excellent online casino payment method. In some cases it even outperforms its main competitor, Google Pay, by having lower fees and higher transaction limits.
Despite that, Apple Pay has one major drawback when it comes to its availability. The service is only available on Apple’s devices, which severely limits its use, given that iPhones make up a mere 30% of the smartphone market. However, for larger operators, the smaller percentage may still be big enough to consider integrating Apple Pay.
Up next, let’s explore a couple of localized options, starting with Interac e-Transfers. Widely used in Canada, e-Transfers have become one of the country’s most widely adopted payment services. It is used for a wide range of things from paying rent to getting paid for part-time jobs.
e-Transfers offer a secure and reliable way to transfer money to and from over 250 of Canada’s financial institutions, as well as over international borders thanks to Interac’s collaboration with Mastercard and Western Union. Combined with the fact that the country’s iGaming market is on the rise, obtaining a license in a few provinces and integrating Interac e-Transfers as a casino payment provider may be an excellent chance of being an early player in a jurisdiction with a lot of potential.
Sharing a lot of resemblances with the previous option, iDEAL is a popular payment service in the Netherlands. It lets users make purchases and transfers through the financial institution of their choice and is used for varying purposes in the country, just like its Canadian counterpart.
It works with the overwhelming majority of Dutch banks and offers a number of useful features, such as its QR code payment system, which makes paying as easy as scanning an image with a mobile device. iDEAL offers pretty low fees and has generous transfer limits. For operators looking to enter the Dutch iGaming market iDEAL is an excellent casino payment solution provider option.
Trustly is quite a popular casino payment gateway, as the gambling industry is one of its main areas of focus. The firm’s services offer instantaneous deposits and withdrawals, helping players enjoy gambling experiences with ease. It also offers quite low fees at just 1.5%, although this number can be negotiated for larger businesses.
The payment provider works with not only online operators, but retail establishments as well. Through a simple integration, players can use the same account to enjoy a gambling business’s online and retail experiences.
Furthermore, Trustly offers a couple of special features for gambling establishments, with the main one being their Pay N Play service. This allows players to use their payment account to instantly sign up and start playing at any casinos that integrate the feature. Trustly also provides KYC solutions, helping operators offload some administrative tasks.
Best types of casino payment methods
Lastly, each of the solution providers we explored offer various types of payment methods that handle currencies in different ways. Some methods utilize fiat currency, others specialize in cryptocurrencies, some combine the functionalities of a payment gateway and an online wallet, while others are used for direct transfers only. Let’s explore a number of these options. For a deeper dive into the topic of online casino payment methods, you can check out this article on AffPapa.
Being one of the most popular ways to spend and receive money, bank cards are an excellent choice for an online gambling operation. They offer excellent levels of flexibility, generally having minimal fees, completing transfers instantly and offering pretty generous transaction limits. Because of this, most gambling operators use casino payment solution providers that can facilitate credit or debit card transfers. However, not all payment methods offered by banks are nearly perfect, such as bank transfers.
Being the polar opposite of the previously discussed credit/debit card option, bank transfers are much rarer to see on an online casino. They offer much more substantial delays, have higher fees and are generally not as simple to use. Where they do excel, however, is at transferring large amounts of money. While it may not make much sense for customer deposits, for operators offering large jackpots having a bank check option may sometimes be a necessity.
Online wallets are similar to bank cards for the user, though the process of integration for the operator may be completely different. Depending on the provider and their standards and requirements, it may be much easier or much harder to embed an online wallet in a gambling website. Generally, however, popular casino payment solution providers offering online wallets will be worth having.
Changing gears to a different currency type, crypto is an excellent option for online casinos. It offers a number of benefits, such as its completely decentralized ecosystem that features minute fees, no delays and no limits. They do have a couple of downsides, however, the biggest one of which is their low utilization. Because of their volatility, many people think investing in cryptocurrencies is enough of a gamble, so they shy away from using them as regular currencies. Moreover, many payment solution providers for online casinos can only facilitate the transfer of crypto, meaning that players need to set up a wallet and purchase their coins themselves off the casino’s website, which is not as streamlined of an experience as the majority of the other options we discussed.
Lastly, let’s explore local options. These usually come in the forms of online wallets, generally tailored to a specific region and available only in that region. Most of the time these are only useful for casinos that feature a high degree of localization, however, more international operators may want to consider them in their most popular markets.
To summarize, selecting the best casino payment providers for an iGaming operator is quite an important task, that is not made easy by the number of options out there and the list of things a business would need to consider. Despite that, it will be worth it to integrate a number of popular and easy-to-use casino payment providers to remove any factors that may change a player’s mind about making a deposit.