Emulating ecommerce: Payment Leaders'
acquisition challenge Operators struggle with the customer-first payment journeys their
players are used to in other e-commerce experiences as the battle to 'acquire' casual bettors expands into the general market. Top of the
bill for SBC Summit Barcelona's Payment Innovation conference track is 'Emulating ecommerce: Payment Leaders' acquisition challenge' comprising Rahul Das, Simon Dorsen and Mickael Marceau.
How close are we to emulating successful e- commerce experiences, and should operators take action to match internal procedures from e-commerce models outside the industry?
Simon: Operators in the gambling industry face challenges in providing customer-first payment journeys similar to those found in other e- commerce experiences. As the competition to attract casual bettors expands into the general market, operators are realising the need to offer seamless and user-friendly payment processes. While some progress has been made, there is still a gap to be closed in emulating the successful experiences of other e-commerce models.
To address this gap, operators should take action to align their internal procedures with those of e-commerce models outside the industry. Tis involves adopting best practices that streamline the payment process and implement convenient and secure payment methods tailored to meet the demands and demographics of their customer base. Tis could include advanced digital wallet solutions or cash-to-digital options.
Additionally, leveraging advanced payment technologies can greatly enhance the overall user experience. By prioritising customer- centric payment journeys, operators can attract new customers and foster improved retention and loyalty among existing players.
Rahul: Tis question has been a driving force behind the design of cashier systems since the early days of eGaming. However, eGaming comes with unique constraints that differ from most other e-commerce sites. Tese constraints can vary significantly depending on the territory and the specific regulations that operators must comply with, such as grey or white markets, AML practices, and chargeback levels. In general, it is more challenging for operators in grey markets to emulate common e-commerce practices due to increased fraud risks.
For example, offering ApplePay in grey markets presents difficulties due to limited acquirer support for pay-outs. As a result, merchants often need to rely on bank transfers, which attract greater scrutiny, or otherwise compromise AML best practices by using alternative methods to distribute winnings.
On the other hand, in white markets like the Netherlands, regulations are more prescriptive, payment methods are concentrated, and open- loop pay-outs are almost mandatory. In such cases, operators would benefit from examining best practices in in-country e-commerce and adopting them, which comes with its own challenges.
Te right approach is to selectively incorporate successful customer journeys, UIs, and experiences that customers expect and adapt
“Operators in the gambling industry face challenges in providing customer-first payment journeys similar to those
found in other e-commerce experiences. As the competition to attract casual bettors expands into the general market,
operators are realising the need to offer seamless and user- friendly payment processes.“
them to the betting markets and products. For instance, concepts like Amazon's one-click feature can be adapted to streamline topping up bet accounts on the bet slip or virtual roulette table, eliminating the need for endless redirects or authentication. Achieving this may involve leveraging technologies like TRA Exemptions, Card-on-File, PayPal's Reference Transactions, and Open Banking's VRPs. However, it is crucial for the payments manager to exercise discipline and avoid overcomplicating the process in order to deliver on the goals of speed and simplicity to the customer.
While e-commerce models typically don't require asking customers for passports or matching them to payment methods, this is often a reality for many betting operators due to regulatory requirements. Using e-commerce models as a guide is recommended, as they shape customer expectations and behaviours. However, operators must be creative in finding ways to meet those expectations.
At LiveScore Group, we operate exclusively in regulated betting markets. We offer a limited selection of reputable payment methods tailored to each country and strive to meet local customer expectations, heavily influenced by our e- commerce peers. Behind the scenes, we leverage sophisticated technology to fulfil our regulatory obligations. It's worth noting that seemingly simple user journeys often rely on complex underlying technology to enable them.
Mickael: Of course, we still have struggles, but technology and the latest payment directive and enhancements have helped to improve our customer experience. Today, we have at our disposal so many data points coming from payment initiations services. Te key is to utilise that in the bets way possible in order to have super smooth onboarding journey and increase our top line with high conversion from the start.
NEWSWIRE / INTERACTIVE / MARKET DATA P143
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164 |
Page 165 |
Page 166 |
Page 167 |
Page 168 |
Page 169 |
Page 170 |
Page 171 |
Page 172 |
Page 173 |
Page 174 |
Page 175 |
Page 176 |
Page 177 |
Page 178 |
Page 179 |
Page 180
