Interactive ONLINE PAYMENTS
payment method, and how these translate to the customer, particularly those who are already sceptical about the security of some APMs.
Other factors to consider include how transactions and players are authorised, and any technology and regulatory restrictions, including any restric- tions on transaction value limits, currency and license restrictions. Additionally, gambling opera- tors should note the ability of the APM to pay out winnings and mechanism used – whether this is automated or via a bank transfer.
For existing markets, purchase frustrations may be the most important aspect for gambling opera- tors to resolve. If a consumer runs into issues dur- ing the attempted transaction process, they may decide is not worthwhile and abandon it, resulting in a loss of revenue.
Enhancing and simplifying the purchasing experi- ence for consumers can greatly improve revenues and help to improve player loyalty towards a gambling operator’s brand. This may include sim- plifying navigation, reducing unnecessary steps, providing clear information around processing fees, transaction limits and timings (especially related to payouts), and pro-active error-handling
messaging. The simplification required may differ by device payment method and even by country.
THE NEXT GENERATION It is never too early for the industry to anticipate
how the next generation of players will behave and interact. The next generation of players are growing up with access to an abundance of socially dispersed games that will continue to
Offering a wide portfolio of payment types involves
managing multiple relationships and APIs, which can be costly, time-consuming and complex.
compete for their attention. The industry has his- torically seen low conversion rates from free-to- play to real-money play so this will no doubt be challenging to manage profitably.
Another potential consideration is around micro- transactions, which are already well entrenched in social gaming and are increasingly penetrating
the video gaming industry. With current mini- mum deposits on gambling sites typically £5-£10, managing players used to making frequent trans- actions under £1 will involve a change in operator mind-set
Offering a wide portfolio of payment types involves managing multiple relationships and APIs, which can be costly, time-consuming and complex for operators to self-manage. This can also pose a challenge for the treasury function if done in-house. Operators are advised to work with an international payments company that can provide expert advice and handle more of the heavy lifting, removing additional unnecessary costs and effort.
It is clear that the complexity of the payment landscape will only increase over time due to evolving player behaviour, diverging regional trends and the emergence of new technologies and payment solutions. Successful operators have aligned corporate with payment strategies and objectives that make the most of these trends.
Fundamentally, payments are an enabler of busi- ness growth and having the right payment mix will determine any operator’s long term success.
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