Today, the online gaming market is developing at a fast pace. According to researchers’ forecasts, the number of players on the entire planet will exceed 3 billion by 2022. As this industry grows and develops, the need for real-time payment is more urgent than ever. A suitable payment gateway will help bring the gaming platform to the top level, turn gamers into payers and lay the foundation for success.
What is a payment gateway?
A payment gateway for games is a hardware and software complex that automatically accepts money transactions and transfers payment data of gamers-clients to an acquiring bank. Figuratively speaking, it is a bridge between the client and the financial institution. The gateway performs only a connecting function, and the payment system interacts with the funds.
How to choose a payment gateway
Depending on the payment service, each payment gateway may have its own individual characteristics, so it is important to understand which solution will be optimal for your business. The aspects listed below will help you make your choice:
- Technical support and integration. This is the primary question. The chosen solution must correspond to the technology used in the mobile application or on the gaming platform. Technical processes should be fast, hassle-free and should not interfere with the gameplay. So, for example, the product from https://corefy.com/white-label-payment-provider is a comprehensive solution that brings together all payment service providers and alternative payment methods.
- Security. Client data must be protected by encryption. The gaming business has a higher percentage of chargebacks, data leaks and fraud. The chosen gateway must support a high capacity for processing game traffic, comply with PCI DSS, have cybersecurity settings, and various encryption methods.
- Gaming experience. As statistics show, gamers, being in a state of full involvement and increased adrenaline, always want a continuous process without issues or disruptions. Payments, purchases (points, coins, characters, etc.) and methods of making them should be fast, easy and convenient. It is better to use a payment gateway with a user-friendly interface and a wide range of payment methods on your resource.
- Shopping experience. It is important to take into account not only the interests of the players, but also the needs and experience of the seller. It is necessary to consider the tariff plan, the cost of gateway services (commission for transactions, statements, invoices, fees, returns), the convenience of the control panel for the seller and its equipment with various functions (generating reports, analyzing transactions).
It is necessary to choose a payment gateway for games taking into account security features, as well as the conditions provided for sellers and consumers (players), simplicity and speed of integration, tariffs and pricing. It should be considered that the game and payments are interconnected. It is important for gamers that the process is continuous, smooth, simple and fast.