With the rise in mobile betting, more and more people are finding a reason to access sports betting action from the comfort of their own homes. This means payment merchants need to be on the ball when it comes to providing reliable payment services.
For readers that are unfamiliar with how payment merchants at online casinos work, the process can be outlined as follows.
Customer Information
Initially, customers provide their credit card information, and the merchant service will decide how payments are accepted. It will offer customers a choice of payment portals from which to choose.
Online casinos can offer all kinds of payment services that deal with anything from fiat currency to digital currencies like Bitcoin.
Security Protocols
The payment processor will then transmit encoded data to the customer’s bank account, after which the information is either accepted or denied.
Once the information is accepted, the fees are transferred from the customer’s bank account to the casino operator. The fees will then reflect in a customer’s casino account (bankroll).
Processing Time
The processing time for transactions can depend on many factors. The technology that enables transactions to pass between service providers and to or from a customer’s bank account comes from the payment service provider (payment processor).
The time it takes to process transactions at an online casino will depend on the payment merchant that was selected by the customer. It also depends on the security protocols being implemented by the customer’s bank.
There are countless online merchants out there that provide payment gateways (via e-commerce stores) and other points of sale systems that consist of hardware and software to accept payments. Payment merchants can make businesses operate more efficiently.