Online gaming is now an accepted worldwide phenomenon with revenue projected to reach US $26,290m in 2022. The number of gaming providers has multiplied along with the need for security and privacy of data and payments. To increase the user base, online gaming providers have been offering varieties of gaming options that require multiple renewals and need to purchase game elements. This entire process contributes to the ecosystem of gaming and the enthusiasm for the game.
While the whimsical aspect is to be considered, so does the security and timely execution of payments. If you are a gaming platform, looking to ensure the various aspects of the possible best payment gateway, this article is for you.
Various Aspects to Keep in Mind While Choosing the Best Payment Gateway
- Compliance with Regulations – A platform based in another geographical location with foreign registration will still have to comply with the local regulations where it is providing services. Eg. certain countries have banned cryptocurrencies as a method of payment. Ensure your payment provider follows these. Non-compliance can lead to penalties borne by the gaming company. Compliance can be in terms of legal and technical aspects as well.
- Multiple Modes of Payments – the best payment gateway has to be able to provide all the possible payment options in a particular country. Various payment options such as net banking, credit, debit cards, UPI payments and mobile wallets are the norm. To cater to all age groups and income levels, converting the payment to EMIs is a necessary option.
- Linkage to Various Social Media – Consider this a crucial impulse purchase point as users in the gaming arena are driven by the need to get into an exciting multi-player game, or the need to “beat” the competition. Using social media logins, this fast payment is easily attainable. This helps in the quick retrieval of payment information.
- BNPL – The “Buy Now, Pay Later” mechanism can be successful with an increased user base only by creating deep connections between brands and banks. If your payment gateway has achieved this – it can be an important selling point for your gaming platform.
- Security – User payment and personal information security is the most vulnerable aspect of the gaming industry. The security of the card vault and storage are of prime importance. Retrieval functions should be as secure as possible This can be a major differentiating factor for a payment provider.
Choose for Convenience and Caution
As an online gaming platform, one also needs to ensure compliance with latest security regulations, and be on the lookout for the latest and well-researched platform solutions. In addition to attracting the right mindset of gamers, adopting the latest practices will attract game developers, too.
Gaming providers can choose from various concept options like Seamless and iFrame. A PCI-DSS compliant gaming company can integrate into the Seamless mode. Here you can accept card instrument details on your website. Check out various such options to understand the integration capabilities with your gaming website. Integrations will have to along with security for the success of your gaming platform.
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