Credit card payment processing is a crucial part of the fast-paced, competitive igaming industry. While attracting customers to igaming websites and increasing traffic is crucial, companies must also make sure that they are backed up by a secure and robust credit card payment processing system which has the capacity to support and retain existing as well as future customers.
Credit card payment processing Fraud
The key factor in credit card payment processing in the igaming industry is combatting fraud. By nature, the igaming industry attracts the attention of scammers and fraudsters, so it is of paramount importance to engage a provider that has a proven track record in combatting fraud in credit card payment processing.
This must be done in such a way that legitimate trade and customer experience is not compromised when weeding out false transactions.
When processing credit card payments, providers should be able to screen all transactions and carry out fraud checks effectively by tuning in to all your channels and markets.
Declined transactions - failings on credit card payment processing
Credit card payment solutions providers also offer services to identify why transactions have been declined. This can happen for several reasons: cards expire, they could be overdrawn or it could just come down to a technical glitch. Whatever the reason, the service provider should provide analysis tools to identify the reason. A card decline is the difference between a sale and a non-sale, so understanding why and providing an alternative payment method, could lead to conversion.
Most service providers will also offer services to analyse declines over a set period to identify patterns and make improvements that will help conversion rates.
Credit Card payment processing in Multiple currencies
Credit card payments to igaming companies come from all over the world, so it is imperative that processing can be supported across multiple currencies. In handling credit card payments, systems should offer dynamic conversion solutions so customers can play and pay in their own currency, rather than being shown one single currency option for payment. Doing so will give them more comfort and convenience, and encourage them to spend more on your products and services.
Platform management and cross-platform card processing
Gone are the days of optimising everything for desktop platforms. In fact, more and more users are migrating to mobile, especially smartphones. With long commutes and wi-fi available everywhere, customers can game and play on the go. This means that credit card payments should be securely supported on every device.
Preventing chargebacks on credit cards
Customers can sometimes take a big hit at games and some fraudsters will call their credit card company and deny that they played the game and made the charge. It is one person’s word against the other’s and e-commerce merchants rarely win. When engaging a credit card payments solutions provider, it is essential that they provide instant billing and documentation to prove that the transaction did indeed take place.