Payment Systems

Setting up payment methods for a modern online casino


Payment systems are often one of the key factors when selecting a casino to play in. For example, your client lives in Ukraine and uses Webmoney for online payments. When choosing a gaming platform, that person will obviously lean toward establishments with Webmoney available. Now, what is the total amount of lost profit if we have tens or hundreds of players passed by your casino?

payment system

After reading the first paragraph, you have probably realized how important payment methods are. Moreover, depending on your casino’s regional coverage, there may be several dozens of payment systems accessible. For instance, such commonly used solutions as Visa and Mastercard are unavailable in some countries, and to cover certain regions you will have to implement local credit and debit card solutions (e.g. Verve for Nigerian clients).

Variety is the key to success

The Payment Systems page should include different banking products: credit, debit and prepaid cards, e-wallets, direct bank transfers, ATM transfers and cryptocurrency (bitcoin, etc.) It is advisable that your online casino has a geo-targeting system, allowing you to determine a player’s location and display payment methods available for their country.

Payment fees

Naturally, banks and processors charge a small fee for payment processing. For example, in case of Visa, it can be up to 2%. Many platforms explicitly tell about the fees; however, some dishonest casinos not only stay silent about them, they also apply their own fees. Although this does not break any laws, negative reaction from users is guaranteed. It is up to an operator to decide whether to charge their players for withdrawing funds or not, but any far-sighted casino owner will most likely not do that.

Perfecting the Banking page

Since it may be difficult for some new players to navigate through your casino’s sections, consider creating detailed instructions (possibly with screenshots attached) which would describe the deposit and withdrawal processes step by step.

It would also be a good solution to specify Min/Max limits for every payment system—this is especially important for those who would like to deposit or withdraw only a small amount. Before making a payment, a player must be certain that the casino is able to process the money and credit it to their account.

Online casinos that want to earn a good reputation should clearly state maximum withdrawal limits as well as all the subtle aspects. Notice that in well-known online communities, such as Casinomeister or Askgamblers, most complaints involve funds withdrawals, and vague wording is usually the reason.

For example, some casinos use this kind of scheme: a withdrawal limit of $10.000 per day (quite decent money) is specified, and there is a small disclaimer stating that a withdrawal amount cannot exceed five times a total sum of deposits from the moment of registration. That means, if a player manages to win $5000 in a casino where they deposited $200, they may request only $1000 for withdrawal. In order to avoid customer dissatisfaction which would lead to reputation loss, you should unambiguously and in plain language specify all the details regarding the payment systems.

Conclusion

Gamblers would like to make a deposit in your online casino? Provide them with an opportunity to do that! Ensure you have as many payment methods as possible, accompany your clients through each step of the transactions (proper FAQs and responsive customer support will help), respect the principle of transparency in Terms of Use and, what’s most important, choose your payment systems according to the regions you work in.

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