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Innovative mobile payment solutions driving the gaming sector

In the not-so-distant past, the only way to place a bet was to visit a bookmaker or casino, offering cash in exchange for a betting slip or chips. Today, the situation couldn’t be more different. There are so many ways to deposit money into your online account using your mobile, thanks to a range of innovative mobile payment solutions that unquestionably drive growth in the gaming sector.

Let’s take a look at some ways you can add funds to your online gaming accounts today. These mobile payment methods are fast and secure, which is a reassuring factor for anyone who transfers money online.

Debit card and bank transfer

Many customers in the gaming sector opt to make deposits using their debit cards, which is a super simple solution that has been in play for a long time. Most gaming sites also offer customers the option of making bank transfers, but the funds aren’t always available instantly. Still, many people feel comfortable using their bank accounts, highlighting why this is still a hugely popular payment method at online casinos.

Slick design and user experience make paying by debit card on your mobile very easy – it’s the same process you will likely have made numerous times to pay bills or make retail purchases from your mobile device.

Note that due to recent changes in gambling legislation, UK players are no longer allowed to deposit funds using a credit card. This was a sensible move that added to the methods in place to prevent anyone who cannot afford it from spending too much on gaming entertainment.

Digital wallets

The recent rise of digital wallets has been nothing short of phenomenal. While we all know about PayPal, the likes of Neteller, Alipay, and Venmo are all available to online gaming customers. Of course, there’s also the option of depositing funds via Apple and Google Pay, both of which have recently transformed the mobile payment experience.

Digital wallets are super popular at online casinos as they offer instant deposits and speedy withdrawals, which are often processed on the same day. Many regard digital wallets as a safer way to deposit funds into an online betting account, as there’s no need to submit your bank details.

Every significant digital wallet has its own app, and it’s here that you’ll be redirected to when completing any deposit or withdrawals from your online gaming accounts while using your mobile.

Of course, you don’t have to make any sort of deposit because many online gaming sites, such as casinos or poker platforms, let you play for free so that you can play for fun but with no financial reward. If you don’t want to play free poker games, you’ll need to make a deposit to play with real money. That means investigating one of the many deposit payment methods we outline in this piece.

Cryptocurrency

More people are turning to cryptocurrency every year for various online transactions, and there are a number of options for placing bets and playing online games with crypto. These platforms mean that you need to buy crypto to play their games or place bets on your favourite sports.

You can bet with Bitcoin, Litecoin, Ethereum, Dogecoin, and various other cryptocurrencies, signifying the possibilities within the industry. Several online sites offer players the chance to play with crypto, which is great from the perspective of anonymity and speed of transactions.

And like digital wallets, those who use cryptocurrency regularly know they can make transactions on their mobile.

Pre-paid cards

Another payment option that is proving popular in the iGaming industry is the Paysafecard. Customers can purchase a Paysafecard that is loaded with a specific amount of money before entering the code into the banking page of the online gaming site.

Using a pre-paid card is advantageous because it means that you don’t have to enter your personal financial details when depositing funds into your account. Moreover, it’s impossible to exceed the limit set on the pre-paid card, meaning that it’s easier to track how much you spend when playing online games.

It’s simple to use your card codes via mobile and, ultimately, another great payment option that is fuelling the growth of the iGaming sector.

A word on Open Banking

Since its introduction in 2018, Open Banking has transformed the way that we process transactions online. Many iGaming operators have utilised Open Banking since its introduction in 2018 to protect online players and offer better payment services.

Essentially, Open Banking enables seamless and secure account top-ups and instant payouts through direct authentication and also helps combat fraud in the industry. The adoption of Open Banking in the iGaming sector is undoubtedly a good thing, and it has facilitated the ease and speed of deposits and withdrawals throughout the industry

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