Online Casino Payment Methods: Innovations and Emerging Trends
As modern online casinos evolve to suit new players and make the experience of returning customers easier, one factor that’s consistently prioritized is the variety of different payment methods that players can use to withdraw earnings and make purchases during gameplay. Put simply, it’s all well and good to find the best online casinos using bonus.ca, but if that casino in particular doesn’t have a compatible payment method then it’s unlikely you’ll commence gameplay on the site.
As a result, many online casinos have put time and money into designing innovative new payment systems as a direct response to emerging financial trends shaped by a new generation of players. This article will explore these innovations and financial trends.
1. Bitcoin And Cryptocurrency
Like many other online industries, the gambling industry is the latest party to take advantage of Bitcoin and cryptocurrency technologies. Many players prefer this new way of making deposits or casino withdrawals due to the anonymity that comes with using Bitcoin payments (also known as BTC), not to mention these currencies are decentralized so aren’t at risk of losing their value when it comes to deflation. Some casinos have actively responded to the increase in popularity of Bitcoin and cryptocurrency by offering special casino bonuses for new players who only want to fund their accounts using crypto. Last but not least, BTC payments usually offer faster transactions than other more traditional methods like paying with a credit or debit card.
2. E-Wallet Payments
To say that e-wallet payments are the cornerstone of online payments would be an understatement. Across the world, millions of people are using these digital accounts to skip entering long card details and skyrocket the speed of their online purchasing. And the world of online casinos is no exception. Players now no longer need to fumble for their credit card when they’re in the middle of a winning streak, all they have to do is tap their phone to access their mobile e-wallet, and they’re good to go! E-wallet payments aren’t just a convenient way to pay, but they also help keep gameplay going. A win-win, really.
3. Revolut Payments
One big emerging trend in online gambling is players looking to play at online casinos from other countries – and with different currencies. Introducing: Revolut casino payments. With this payment method, players can smoothly transfer money from one currency to another without facing any extra charges. To use this payment method in online gambling, customers will need to have a Revolut payment account. But once they’re set up, players can begin making casino deposits and withdrawals without facing any hefty exchange fees!
4. Klarna: Shop Now, Pay Later
The fintech start-up Klarna has now started to be accepted as a method of payment by many mainstream casino sites; the start-up’s slogan of “shop now, pay later” was previously only used by those shopping online who wanted to backdate their payment to a later date. You can now use Klarna to make a casino deposit, choosing to “pay now”, “pay later” or “slice it.” However, given the risks of gambling and possible addiction to the game, it’s likely the “pay later” option will fade out, while some operators might insist on upfront payments as a way to keep in line with US gambling regulations.
5. Face Scans and Fingerprints
In order to prevent cyberattacks and cybercriminals from gaining access to the data stored in online casino databases, many sites are introducing face scans and fingerprints as an extra security detail when making payments. Biometric authentication is now used by many online casino companies to ensure the person requesting the payment or withdrawal of funds is the same person registered on the account. This innovative new level of security is paramount in reducing the risk of cyberattacks for many online gambling conglomerates.
6. Google Pay
Similar to E-wallets, completing casino payments with Google Pay is an exciting new payment method introduced to those who use an Android or other Google product when engaging in online gameplay. By linking your Google Pay account to a bank card in your name, you can quickly and easily deposit money into your casino account. You can also register multiple cards to your Google Pay account, choosing which one the funds should transfer through to – perfect for keeping on top of your spending and ensuring you have enough money in each account for your gaming session.
Final Word
There are a number of new innovative ways to pay at online casinos – and more that are being developed right now as you read this article! Whether it’s paying using Bitcoin and cryptocurrency, accessing funds via an E-wallet or through Google Pay, exchanging currencies on Revolute or even deciding to “pay later” with Klarna, the drive to improve the different payment methods that players can use to withdraw earnings and make purchases during gameplay is one that will no doubt remain interesting for all involved.
Pranab Bhandari is an Editor of the Financial Blog “Financebuzz”. Apart from writing informative financial articles for his blog, he is a regular contributor to many national and international publications namely Tweak Your Biz, Growth Rocks ETC.
