A new study has shed light on the online payment methods that are in use in i-gaming and digital casinos across the world. The research — carried out by software developer Slotegrator — examined the most popular online gambling payment methods utilized in a number of international markets, including those across North and South America, as well as Africa, Europe, and South and Southeast Asia.
Europe
The European market was found to be an especially diverse one, due in part to differing regulations across national boundaries. For instance, while Visa and Mastercard are the most popular methods for payment across the continent, regulations in markets such as Germany mean that credit card payments are not permitted. In the German market, as well as in the nearby markets of Austria, Belgium and the Netherlands, Sofort is the most popular payment provider.
South and Central America
Debit and credit card uptake is relatively low across the Latin American market, which has made bank transfers the most popular payment method in these locations. In some national markets, such as in Brazil, payment systems act as an intermediary between commercial banks and online gambling providers — two sectors that have traditionally had an uneasy relationship in this part of the world. Boleto Bancario is the most popular of these payment systems in Brazil.
Asia
In India, PhonePe is the most popular online betting payment method. This app integrates with banking systems to provide immediate payments from credit and debit cards as well as e-wallets. In Southeast Asia, e-wallets are the most popular choice for bettors, with credit cards, debit cards and bank transfers also used heavily. The Thai market features payment solution providers such as Thaiepay, which support credit and debit card payments to online gambling providers as well as e-commerce retailers.
North America
The Slotegrator study’s North American research was limited to the Canadian market. The study found that the Interac payment system was the most popular payment method in the country, offering coverage to around 60% of Canada’s population. Payment solutions such as Gigadat are based on this system, and these integrated solutions handle the bulk of gambling transactions in Canada.
Africa
Like in Central and South America, there has been low take-up of credit and debit cards in Africa. As a result, mobile payment apps and money transfer facilities represent some of the most popular payment methods on the continent. M-Pesa — a mobile money transfer service — is proving popular in markets such as Kenya and Tanzania.
An International Outlook, Supported by Data
Studies like these are giving online gambling providers, as well as other market entities, the confidence required to adopt a more international approach. While the world is becoming increasingly digitized, it is still difficult for organizations to expand across international and regional boundaries if they do not have the proper cultural understanding and knowledge of best practices. As the market becomes more and more global, data-driven insight will have a huge role to play in supporting this.
