iGaming Blog

Research shows that inconvenient payment systems significantly reduce customer retention in online casinos and betting platforms. According to an article published in the Journal of Business Research, up to 45% of players switch to other platforms when they encounter payment issues. • Brand and Payment System Connection: For 78% of players, the casino or betting brand is inseparable from its payment system. Any issues with payments negatively impact the gaming brand’s reputation. • Payment Processing Time: According to Statista, 38% of users leave the site if the payment process takes more than 2 minutes. • Distrust in Payment Flow: Poor payment interface design creates distrust in 52% of users during their first deposit, causing them to abandon the payment, according to Trustpilot. • Fees and Hidden Charges: Fees and hidden charges generate complaints from 30% of users, reducing their loyalty. A well-designed payment system inspires maximum user trust, ensuring significantly higher co...

Working in the online gambling industry, I've encountered numerous challenges and issues related to using Visa and MasterCard payment systems. I want to share some of these experiences to help other operators be better prepared for similar situations. Key Issues I've Faced: 1. Delays and Penalties: There have been instances where payment systems delayed payouts and imposed excessive fines. The penalty scale can be quite severe: the first fine might be $25,000, the second $50,000, and so on. Recently, a known merchant was fined $50,000 by Visa and then another $400,000 for losing their MID. Additionally, merchants can add their own fines, compounding the problem. In such cases, merchants can freeze funds or withhold settlements without any investigation. This approach seems unjustified, as casinos pay high commissions, sometimes up to 12%. With such high fees, merchants should assume some risks and filter traffic more effectively. 2. Partners Refusing to Sign Contracts: Some par...