STICPAY: A Convenient Payment Solution For Online Gambling

An online gambling payment gateway allows merchants to accept payments online and harness the benefits of the fast-growing industry.

According to Grand View Research, the global online gaming market is projected to surge to $127.3 billion between 2020 and 2027, with an 11.5% Compound Annual Growth Rate (CAGR).

However, when it comes to accepting payments, online gaming merchants have to find the right payment gateway to keep their business profitable while offering a great user experience.

For that reason, we have created this article to explore the essentials of online gambling payment gateways and an excellent solution for merchants to accept transactions from their customers.

What Is an Online Gambling Payment Gateway?

A payment gateway is a financial service that allows merchants to accept transactions from their customers online.

In exchange for processing payments, the service provider charges either a percentage-based or a fixed fee (or both) deducted from each transaction.

After merchants integrate the online gambling payment gateway into their platforms, players will be able to use it to deposit and withdraw funds from their accounts.

It's crucial to mention that most financial providers consider online gambling a high-risk activity. For that reason, merchants within the industry often get their applications rejected at traditional payment firms.

As an alternative, businesses can open a dedicated payment gateway at a service provider specializing in a high-risk industry like online gambling.

What Should Merchants Consider When Choosing a Payment Gateway for Online Gambling?

While there are multiple payment gateway solutions present on the market, online gambling merchants must select the right one to operate efficiently.

For that reason, we have collected the most important factors online gaming businesses should consider when choosing a financial service:

• Regulation: Online gambling activities are strictly regulated all over the world, with laws varying greatly by the nation. For that reason, merchants have to possess the necessary licenses and comply with the appropriate regulations to set up a payment gateway solution for online gaming.
• Security: The safety of their users should be a top priority for businesses. For that reason, it's crucial for online gambling merchants to select a financial provider featuring enhanced anti-fraud and security features to protect their customers.
• Payment methods: There is no one-stop solution among payment methods. While some consumers prefer credit cards, others may choose to pay with bank transfers, e-wallets, or cryptocurrency.
• Speed and fees: Nor consumers neither merchants want to pay excessively high fees or wait several days for their payments to get processed. To avoid such a scenario, businesses should consider choosing a financial solution that features fast transactions with reasonable fees.
• Convenience: Convenience is a key factor when selecting a gateway solution. Unless the payment process is simple and straightforward, players may choose another (competitor) platform for online gaming.

Why Choose STICPAY as an Online Gambling Payment Gateway?

As mentioned earlier, high-risk businesses in the online gambling industry have to choose a dedicated payment gateway solution to accept transactions from their customers.

For that reason, we'd like to introduce STICPAY, an excellent financial service for merchants across several industries.

However, before we proceed further, it's crucial to emphasize that the company considers low-risk businesses its primary audience. At the same time, the firm allows licensed high-risk companies, such as online gambling providers, that comply with the appropriate laws and regulations in all the countries and regions they serve to open a merchant account.

Available in over 190 countries, STICPAY features a global e-wallet service with a strong presence on the Asian continent.

For business clients, the company offers direct payment gateway integration into their platforms via an Open API connection.

The digital wallet service features cost-efficient fees for both merchants and end-users. While consumers pay 1% for instant member-to-member transactions via STICPAY's rapid internal network, the company charges a competitive 2.5% + $0.3 fee for accepting fiat payments in 29 currencies and 1.8% for processing cryptocurrency transfers.

Customers can choose from a multitude of payment methods to deposit and withdraw funds from their accounts, including:

• Visa
• MasterCard
• UnionPay China
• International bank transfers
• Cryptocurrency (Bitcoin, Litecoin, Ethereum)
• Prepaid STIC Card (for convenient withdrawals)

On top of the above-mentioned options, STICPAY has partnered with financial institutions in Asia to offer rapid and inexpensive local bank wire transfers to customers in Malaysia, Indonesia, China, South Korea, Japan, Singapore, and the Philippines (more countries and regions to be added soon). As a result, businesses can integrate STICPAY as a payment gateway and grow their customer base in Asia more efficiently.

STICPAY takes a security-first approach, ensuring the protection of its users with advanced anti-fraud and safety measures. As an additional layer of security, the company strictly monitors both consumers and merchants who are subject to various Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.

As a result, all transactions on STICPAY are secure and indemnified, offering effective chargeback protection for merchants.

For a more convenient experience, in addition to a web platform, users can access the e-wallet solution via the recently redesigned smartphone apps in 19 languages for both iOS and Android.

Are you ready to start accepting payments online?

Sign up for a merchant account at STICPAY now!

If you have any questions, feel free to reach out to STICPAY's dedicated customer support team to get your queries answered 24 hours a day.

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