Convenience, speed, and security: players’ payment preferences

Convenience, speed, and security: players’ payment preferences
23 Apr 2021

Online gaming is one of the fastest-growing industries in the world, and as the global audience of players increases, gaming merchants need the smoothest, most convenient payment solution possible.

Payment orchestration, which offers a wide variety of deposit methods and a seamless user experience, is an ideal way for gaming merchants to appeal to a wider pool of customers while maintaining a back-end experience of easy management.

Players’ Payment Preferences

Payment orchestration offers a customized checkout experience, including many payment methods and PSPs so that customers won’t get frustrated by the lack of options or by slow processing times.

According to the Power Your Payments research campaign, players are likely to go to a different site if the site they’re on doesn’t offer their preferred payment methods. The numbers speak for themselves:

● 27% of players surveyed used a different company when the site they were on did not accept their preferred payment method

● 70% of players place a high value on fast payouts

● Less than half the players surveyed prefer to pay with credit/debit cards

● The payment preferences of players vary widely based on location

How Gaming Merchants Can Cater to Player Preferences

The statistics above have several practical ramifications for gaming merchants. First, variety in payment methods is crucial. If 27% of players go elsewhere when their preferred payment method is not accepted, offering a large variety of payment methods will help keep them on your site.

Second, fast payouts are a high priority to a whopping 70% of players. This means that gaming merchants that prioritize fast payments are likely to attract new players and retain loyal players.

Third, less than half of the surveyed players like paying with credit or debit cards, which means that merchants that offer different payment methods can attract a larger pool of players. Digital payment apps, eWallets, internet banking, and others will offer players a larger and more convenient choice of payment methods.

And finally, players’ specific preferences for payment methods vary greatly by location.

According to PaymentsSource, 77% of all global eCommerce transactions are made via local payment methods. Therefore, gaming merchants that offer customized local methods have a distinct advantage over those that don’t. At the same time, offering international methods will make your site appeal to a larger population. Once again, it boils down to variety.

BridgerPay: A Solution for Gaming Merchants

BridgerPay payment orchestration is a solution that addresses the payment preferences of players and enables gaming merchants to meet them. BridgerPay allows merchants to connect any payment service provider on the market with a few clicks, enabling merchants to offer global and local payment methods and not risk losing players to other sites that offer more options. Additionally, BridgerPay works fast and seamlessly, satisfying players’ needs for quick transactions.

BridgerPay not only addresses player preferences for variety and speed but for other things as well. According to the OpenBankingExpo, 65% of players prefer gaming sites that offer tools for responsible gaming, including spending caps and limits. BridgerPay allows merchants to customize their cashiers — including setting minimum and maximum deposit amounts — and thus promote responsible gaming to their clients.

Another benefit of BridgerPay is its Tokenization tool, which allows users to save their cards and make future deposits securely just by entering the card’s CVV. It offers the convenience players crave without compromising on security.

Benefits of BridgerPay for Gaming Merchants

In addition to addressing consumer demands, BridgerPay also helps gaming merchants get the most out of their customer payments. It allows merchants to:

● Custom build their routes and rules in real-time to create an optimized flow for your payments

● Automatically retry failed payments with Bridger Retry™

● Get a 360-degree view of all their payments

● Easy integration

The Bottom Line

The convenience, speed, and security of payment orchestration makes it ideal for gaming merchants because these are the things that players look for in a gaming site. BridgerPay solutions address the needs of players and merchants by creating a seamless front-end and back-end payment experience.

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BridgerPay is not a PSP (payment service provider), or an acquiring service, and we do not provide any processing merchant accounts. Bridger is a SaaS (software-as-a-service) company that allows businesses to utilise one API to consume all payments from any method or provider that is connected within BridgerPay’s ecosystem.