ONLINE GAMING PAYMENT SOLUTIONS
Slotegrator and their key to online payment success
In an ever-changing digital marketplace, payment solutions need to continually adapt to a diverse and dynamic player base. Speaking with Gaming International, Nikolaj Plugatar, Business Development Manager at Slotegrator, discusses the rise of cryptocurrency, regional based payment preferences and solution tips to stay on top of the market.
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lotegrator has been a prominent provider of omnichannel products in the iGaming industry since 2012, quickly developing to the needs of the iGaming audience with bespoke platform solutions for online casinos, sportsbooks, and game content integrations. Since winning the ‘sports provider of the year’ in 2023 at the Affpapa iGaming awards in Malta, the aggregator has been expediting to increase their global reach. Notably, their recent partnership with gaming provider, EvenBet, has strengthened their presence in Europe, LatAm and Africa.
Highlighting the importance of online gaming payment solutions, Nikolaj Plugatar tells Gaming International: “Safe, effi cient payment solutions are critical for success in the iGaming industry. Players are keen trend watchers and demand a high level of trust, so offering the best and latest payment solutions is essential to remain competitive. As the industry evolves, so too will the payment solutions, as they continually adapt to meet the needs of a diverse and dynamic player base.”
Preferred payment methods vary by region, with players in more developed economies and
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regulated gambling jurisdictions preferring use of bank transfers and payment cards, whereas those in regions with large unbanked populations, seek alternative payment methods. Nikolaj says that “The global reach of payment solutions enables gaming companies to cater to a global audience.” This highlights that providers must support multiple payment methods, including those popular in different regions, to ensure that players from various parts of the world can easily access gaming services, which is a key strategy to expanding the market and driving revenue growth. According to Slotegrator’s analysis of the modern iGaming audience in 2023, certain player bases are attracted to a variety of solutions. This analysis was based on an observation of partners and clients within the iGaming world, where they collected insights on players’ age and game preferences, as well as their favourite payment methods and contemporary technology. “Cryptocurrencies are near the top of the list,” explains Nikolaj, expanding on Slotegrator’s analysis and the rise of cryptocurrency. “Their advantages include low transaction fees, quick processing times, and enhanced privacy. It is estimated that 4.2% of the world’s population own cryptocurrency (over 420 million people), and 75% of Slotegrator’s clients believe that crypto adoption will grow in the next few years. So, cryptocurrency today is a must-have payment solution for a modern gaming platform.”
Aside from cryptocurrencies, players look for digital wallets such as PayPal, Skrill, and Neteller, which have gained signifi cant traction in the online gaming community. Players also use mobile payment solutions, including Apple Pay and
Google Pay. Prepaid cards and vouchers such as Paysafecard and game-specifi c vouchers are “very popular among younger gamers and those without access to traditional banking services.” And more traditionally, credit and debit cards still have a prominent place in the payments sphere. Trust and loyalty are crucial when we talk about player retention in the online gaming industry and should be the primal focus for providers. When players feel confi dent that their fi nancial information is secure, “trust turns to loyalty.” When analysing the popularity of payment solutions in different markets, there are specifi c trends. European players will more likely deposit with their bank cards; Asian players prefer e-wallets like ecoPayz, iWallet, PayPal, Neteller, Skrill, Paysafe, and others; players in Africa, among other methods, use mobile payments like M-PESA and prepaid cards; and Latin American players will go for Boleto Bancário, an offi cial payment system regulated by the Central Bank of Brazil. Discussing other importance factors of payment solutions, Nikolaj continues: “Security and fraud prevention methods such as two-factor authentication, encryption, and tokenisation, help protect user data and maintain trust in the platform. Payment solutions must also comply with laws such as anti-money laundering (AML) and know your customer (KYC) regulations to operate legally and avoid penalties.
By reducing transaction fees, minimizing chargebacks, and offering multiple currency options, gaming companies can maximize their profi tability. Additionally, streamlined payment processes can lead to higher conversion rates, as players are less likely to abandon transactions.”
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