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Best payment solutions for online gambling in 2022

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Payment solutions for iGaming will have their most disruptive year in a long time, though trusted methods reign.

As the online gambling industry becomes accustomed to the high-speed growth it experiences, payment solution providers need to adapt to the influx of customers to provide more secure services.

The Fintech industry took a massive knock from Wirecard’s collapse in 2020 and with that, regulators seem to move the bar for KYC and AML legislation sporadically.

The safety of data and reliability of financial processes is the trump card that distinguishes great providers from the rest. However, fraud is on the rise and regulators clamp down hard on casinos. For this reason, online gambling platforms need to focus on efficient and secure payment solutions more than ever.

Which payment options to choose in 2022?

Traditional payment solutions such as VISA and MasterCard are still popular choices as many consumers feel safe with this familiar route.

Experts predict this trend may decline in the coming period as 2022 could be a year of disruptive solutions in the Fintech industry.

Punters are moving toward secure payments that are not related to their bank account or ID for the privacy it offers. Part of these types of transactions is the open banking trend that is taking off and cryptocurrencies for their anonymity. Notably, it is greatly the early adopters and innovators at work here.

Bitcoin and other cryptocurrencies are easier to access today, and many are taking note of the security advantages of transacting on this basis. As consumers gain trust in blockchain technology, more online casinos will have to offer this as a solution to draw and retain players.

It isn’t a new thing to transact with cryptocurrency on online casino games and trusted Bitcoin casinos are already available. However, the vast majority of consumers still need to adopt this method for it to become a top option at all online casinos.

Other trusted methods in iGaming

For some, it is just easier to choose something known to them or by the greater community, and when it comes to working with money, trust is the biggest deciding factor. Most punters seem to choose a route that excludes their bank account, as an added security measure. There are a few options available specifically designed with this in mind.

E-wallets are a favourite and have been for many years because of their security and the convenience it offers. This virtual wallet allows you to pay and withdraw seamlessly without disclosing your banking details to the service provider you are dealing with.

ЕcoPayz is one of the most popular choices for players in Europe and Canada. Other well-known and widely used e-wallets are Neteller and Skrill. This efficient and cost-effective option remains a favourite.

Zimpler is a Swedish mobile payments solution designed specifically for online gambling platforms. Fintech companies like Zimpler understand the needs of users who mainly work with their mobile devices and provide the most efficient services in this regard. Once you’ve registered a profile with them, you only need to use your mobile number to make deposits and withdrawals.

Instant transfers are increasingly popular and Trustly is a provider of exactly that service. They serve as a middleman between your bank and the online casino with the added benefit of real-time processing and improved security.

Trustly is available in 20 countries and focuses on iGaming payment solutions. They recently launched an additional service called Pay N Play, which streamlines financial transactions even more.

Only time will tell

Fintech has an exciting year ahead of it and the online gambling industry will see other revolutionary developments as well. With blockchain technology and open banking coming to the forefront, we eagerly anticipate what payment solutions will develop during 2022.

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