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How to Create Frictionless Payment Ecosystem for iGaming Market?

9 September 2020, 11:41
Votes: 2

Within the SBC Summit Barcelona – Digital, speakers from various sectors of the iGaming industry had the opportunity to express their opinion on payments as one of the crucial aspects of the business operation.

How to Create Frictionless Payment Ecosystem for iGaming Market?

Find more experts’ opinions on the latest payment trends in the news about the gambling world.

The frictionless payments environment was the main topic for discussion. All experts have come to the same conclusion that payments should adopt innovation, and operators should implement cutting-edge technologies to ensure a convenient and secure payment ecosystem. Jeremy Cornwall, a Global Sales Leader at Braintree, has said that less complexity and more flexibility are key directions for the creation of a well-organized and more user-friendly payment system for clients.

Pandemic became the catalyst for changes

Beyza Orazova, a Head of Sales iGaming at DIMOCO, is sure that changes are on the horizon: “The COVID-19 pandemic is a wakeup call for operators within a globe. It forced them to look outside the box. They should look into other things and be innovative.” However, she has also added that regulations are constantly changing, and it is difficult to keep balance. At the same time, being compliant with regulations means staying on top of the industry because everything is on constant review.

Ievgeniia Derbal, a Chief Legal Officer at Parimatch, has noted that it is a good practice for operators to cooperate with representatives of other industries, which helps to find new solutions. She has been talking about cryptocurrency as a possible payment method for the iGaming market, emphasizing that this technology can be used not only within the B2C segment but in the B2B one as well. However, crypto payments aren’t legal in many countries, and the industry is expecting that regulators will do something with this.

Read more: How is gambling in Europe regulated?

Read more: Everything you should know about blockchain betting

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