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This article discusses the future of payments in the gaming industry.
Given payment providers are an important resource for all online gaming companies, their services can significantly affect the end user experience, thus influencing retention and customer satisfaction.These services shouldboast efficiency, reliability and trustworthiness so to ensure that customers get their funds at the right time.
In the future, more technologically advanced payment solutions will emerge. They will be developed based on international e-commerce standards so to meet any client requirements.An individual approach should be applied to the client’s business to guarantee high quality, personalizedproducts and services. This will lead to increased merchant’s results and revenue.
The unmatched growth of the e-commerce field has directly influenced the gambling sector. The 25.000+ online wagering platforms generatenearly 20-40 billion USD in worldwide revenue. Gambling goes on having high risk factors, and payment services providers should focus on mitigating the risks and fighting fraudeffectively.
The payments sector is under strict regulation. Changes to the regulations affect the way companies conduct their business. Success in the payments industry is guaranteed by compliance with these regulations.
Security and regulation are among the biggest issues in the industry. Lackof control in one company can result in a data breach that can damage the reputation of the whole industry. In 2017, more alternative payment systems will appear, thus increasing the need for higher credit card security with additional verification features.
To compete in the market, traditional gaming operators have gone online and used mergers and acquisitions.This trend is expected to continue in 2017 and beyond.