In today’s world, we have the luxury of being able to do just about anything online, from shopping to learning and even gambling. However, an effective payment gateway is crucial to ensure smooth and effortless transactions. If you frequently engage in online activities, particularly online gambling, you are probably familiar with the convenience and obstacles associated with making deposits and withdrawals.
What is a payment gateway?
A payment gateway is a solution that helps businesses process payments to both online and offline stores. These merchant services must handle payments securely to protect the safety of the account holders availing of their service.
Types of Payment Gateway
The payment gateway has three types:
- on-site payments
- checkout on-site payment off-site
On-site payment gateways are often used by large-scale businesses that operate their servers to process payments directly on their website.
The checkout on-site and payment off-site gateway involves customers starting the checkout process on the merchant’s website but completing the payment process through the backend service of the payment gateway provider.
The third type of payment gateway is the redirect-gateway. In this case, the customer is redirected to a third-party website like PayPal to complete the payment process. For example, online bingo players who use PayPal to deposit funds will be redirected to the PayPal website after clicking on the “pay with PayPal” or “deposit with PayPal” icon on the bingo site. They will then log in to their PayPal account to complete the transaction.
What is online gambling?
Online gambling refers to participating in various forms of online gambling, such as sports betting, virtual casinos, online poker, and more.
Here are the top payment gateways that are commonly used in online gambling:
Authorize.Net: This payment gateway enables merchants to accept electronic and credit card payments online and over the phone, making it a convenient option for customers. Starting in 1996, Authorize.net has served over 430,000 merchants, proving its reliability and effectiveness.
PayPal: Founded in December 1998, PayPal is a publicly traded company listed on NASDAQ. It aims to support businesses and their owners in the growing global economy. PayPal is an open digital payment platform that allows users to transact in various ways, including online payment, mobile devices, apps, and in-person transactions. Using PayPal for online gambling allows users to withdraw funds in 56 different currencies and hold their balance in 25 currencies.
WePay: Founded in 2008 by Rich Aberman and Bill Clerico, WePay is a US-based Chase company that offers customized payment solutions to its customers using their APIs. WePay caters to small businesses, marketplaces, and crowdfunding sites with fraud and risk protection. Today, WePay also caters to users from Canada and the United Kingdom.
Maxpay: Maxpay is an international company that provides comprehensive online payment solutions to businesses, including multiple MIDs support, gateway services, merchant portal, and fraud and risk management. It is considered a one-stop-shop online payment solution, and the gaming industry can set up in-game purchases, player discounts, and membership plans with Maxpay.
Square: Started in 2009, Square is a payment gateway that caters to small and medium businesses. With the Square platform, business owners can accept payments via credit card using their mobile device as a point of sale or register. It is easy to set up and secure, making it a perfect gateway for online and in-store transactions.
Stripe: Stripe is a financial service company and payment solutions headquartered in California, USA, and Dublin, Ireland. The company offers payment-processing software and API (Application Programming Interface) as its initial offer to the market or e-commerce. Stripe serves 40 countries and supports 135 currencies, processing hundreds of billions annually.
Skrill: Previously known as Moneybookers, Skrill is a private online payments company serving consumers worldwide. It allows customers to transfer money to their Skrill wallet via card, bank transfer, and more. In 2013, the company rebranded to Skrill. Skrill has features that make it a good choice for online gaming, including a high level of security in protecting users’ financial and personal data, complete chargeback protection, and support for more than 40 currencies. Skrill is also known for sponsoring PokerStars, the National League of English Football, AC Milan, and the English Premier League for team Leeds United.
With the numerous payment gateways available for gambling, there is no need to worry about how you will fund your online gaming account. However, it is essential to note that not all online casinos are created equal and may use different payment gateways. To ensure that your preferred payment gateway is available, it’s a good idea to check various casinos on BonusesOnline.com before creating an account. This will help you make an informed decision and enjoy a seamless online gambling experience.