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Start-ups often fail to find the perfect basic payment solution services needed to have a properly functioning iGaming operation. However, finding a good online payment gateway provider or a trustworthy payment solution service provider is difficult if you have a high-risk business especially iGaming industry.
It is not easy for high-risk partner operators to find information. Especially in Asia, because the payments landscape for the region is more fragmented, it is often difficult for partner operators to find a payment gateway that doesn’t stack high fees on them.
Partner operators in the Europe region on the other hand, can work with any payment gateway that has been granted a EU payments institution license. To fully utilize the payment processing solutions, iGaming and sportsbook operators should familiarize themselves with the preferred payment methods of their markets of iGaming operation.
| Payment Provider Companies | Accepted Payment Methods | Supported Currencies |
| Western Union Business Solutions | Cash transfer, online banking, debit & credit cards | 130+ Currencies |
| Gate2way | 432 payment solutions around the world | 500+ currencies |
| SecurionPay | Visa, Mastercard, AMEX, Discover, JCB | 160+ currencies |
| XanPay | 15 local payment methods in Asia Pacific | 15 currencies |
| ECOMMPAY | Credit cards network – Visa, Mastercard, AMEX, Discover + local e-wallets | 150 currencies |
| PayCly | Credit cards network – Visa, Master, AMEX, JCB, Diners | 150+ Currencies |
| BttPay | Credit cards network – Visa, Mastercard | 100+ Currencies |
In no particular order, we had penned down some of the most prominent payment service providers that can benefit the iGaming industry, including new casinos online operation. Let’s check out several of the significant payment gateway solution providers in the industry of iGaming:
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1. Western Union Business Solutions
With access to over 130+ currencies, and a global financial network spanning more than 200 countries and territories, Western Union Business Solutions aids companies in spending less time managing their international financial transactions and more time growing their businesses.
Western Union Business Solutions, Malta is licensed to undertake the business of financial institution by the Malta Financial Services Authority (MFSA). Western Union Business Solutions is a global leader in foreign exchange and international payments.
Western Union Business Solutions’ network of specialists apply their local market knowledge to help efficiently navigate cross border payments. It enables companies of all sizes to send and receive cross-border payments and manage their foreign exchange needs.
Many startups struggle to understand foreign exchange and the impact this has on their business. Western Union Business Solutions assists companies in their treasury needs and to process their day to day payments efficiently.
2. Gate2way
Gate2way offers a full range of products for online businesses. The company is the financial hub when it comes to processing, one which has 30 European Acquirers and above 200 aggregators. With this vast network of partners, it provides the opportunity to let partner operators choose what is fit for their targeted markets.
Either using a PSP, or your own PCI Platform, Gate2way claims to be your High-risk partner in payments. The range of partner operators the provider has allows them to widen their services, to a complete offer where they combine the set-up with banking and processing. The company aims to find the best angle, to spot unseen opportunities, and operate like a growth agent.
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3. SecurionPay
SecurionPay is a popular cloud-based payment solution for high risk industries. Founded in 2014 and headquartered in Switzerland, SecurionPay provides credit card processing as well as custom payment features for supported high risk merchant accounts globally. Key features include debit and credit card support and recurring billing.
Additionally, SecurionPay features a mobile payment gateway with a configurable user interface that can be accessed via various mobile devices. It supports integration with multiple e-commerce and content management systems.
4. XanPay
XanPay offers cross-border transactions to both low and high-risk businesses including iGaming industry through local payment methods. By offering lowest fees in the market with a fast KYC process, it is great for businesses to leverage XanPay as an alternative payment solution provider to offer more payment options for their partner operators.
XanPay is a powerful APM payment gateway designed for all types of businesses. From SMBs, high-risk partner operators to organizations, XanPay has made cross-border payments faster and cheaper.
Its modernized payment solution gives you instant access to 100+ popular alternative payment methods, across 15 Asian markets, with six times the local penetration rate compared to legacy financial systems. Join the journey to providing greater financial access to the 1 billion users.
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5. ecommpay
ECOMMPAY is a payment service provider and a direct bank card acquirer for mid to large-sized businesses in the low and high risk industries including iGaming industry.
Headquartered in London, ECOMMPAY processes credit cards, alternative payment methods and mass payouts, enabling iGaming partner operators to receive and process payouts to players globally.
Regulated by the FCA, ECOMMPAY is an authorised Payment Institution holding both Visa and Mastercard Principal Membership. Partnerships with China UnionPay, and popular alternative payment methods have allowed ECOMMPAY to offer its partner operators a single, unified solution.
ECOMMPAY processes card transactions without intermediaries, which streamlines the payment process in a cost-effective way.
6. PayCly
Regulated in Singapore, PayCly claims to be one of the leading payment solution providers in the financial technology industry. According to PayCly, it can deliver payment solutions to low-risk, medium-risk, and high-risk businesses. Aside from card payment services, PayCly also has e-Wallet and invoicing services.
High-risk partner operators in Singapore can choose PayCly. PayCly is well-known for its supports global credit card processing and real-time subscriptions to suit industries like: streaming and online gaming, forex, live casino. travel and etc..
It also prides itself on the convenience its tools provide to partner operatorss. It has an open API, friendly interface, and ready-to-use plug-in. PayCly can also process AdvCASH, EPS, iDEAL, and GiroPay.
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7. BttPay
Headquartered in London, Bttpay provides transparent pricing for credit and debit card processing. Founded in 2013, BttPay provides businesses and individuals with an online alternative to traditional payment methods. The company is funded by Cradle Fund Sdn Bhd and are closely monitored by the Ministry of Finance of Malaysia.
BttPay is currently incorporated in United States, United Kingdom, Singapore and Malaysia under Black Tie Technology Group of Companies with their headquarters based in the UK. BttPay is a leading payment technology company that enables businesses to accept payments online.
The company is the cheapest payment gateway available in Asia. BttPay partner operators from around the globe including in India, Indonesia, Philippines, Thailand and more are enjoying its reliable and innovative payment options and processing.
BttPay offers no setup or monthly fees and charges only 3.8 percent and $2.00 U.S per transaction. High-risk partner operators in the region can choose BttPay.
Conclusion
High risk industries have many factors to consider when selecting a payment gateway. Global payment companies like Western Union Business Solution.Gate2way, SecurionPay, EcommPay, PayCly and BttPay provides offshore merchant accounts to high risk partner operators to accept credit cards.
However, partner operators need to note that while costs are one of the factors, chargeback and fraud liability also need to be considered. Having an additional gateway with alternative payment solutions is a good option for partner operators who involving in iGaming industry to widen their market reach and ensuring a smooth payment process for their players.
You can also check out our previous article in about popular payment gateway providers focused on iGaming industry series on Most Popular Payment Solutions for iGaming Markets Around the World 2022: Part I for more
