New industries such as iGaming and sports betting are on the rise in Canada. Their growth is heavily driven by technological advancements and changes in consumer behaviour. To strike a balance between these components and succeed in the market, Canadian operators have the important task of teaming up with a payment partner that provides them with more than just standard solutions. Last year, Paramount Commerce teamed up with Flinks, a leading financial data analytics and connectivity platform, to provide seamless bank connectivity through their innovative payment solutions. Innovative payment solutions are a must, and the addition of strong bank connections through those methods is an essential bonus for operators. Here are two reasons why:
Convenience and Flexibility
When it comes to making payments online, customers fully expect convenience and flexibility. Unwanted fees and rejection rates can easily drive away a consumer, especially in emerging markets such as iGaming where there are multiple operators to choose from. By partnering with a fintech such as Paramount Commerce, operators can offer their customers a variety of prominent payment solutions such as INTERAC® and Instant Bank Transfer. These solutions, which are linked to all major financial institutions in Canada, allow consumers to easily make payments straight from their bank accounts without having to worry about being charged any additional fees or credit card rejections. Payment methods with strong bank connections lead to increased consumer satisfaction and loyalty as they process payments quickly and efficiently, reducing wait times and improving the overall user experience.
Security and Trustworthiness
Apart from convenience, security is very important when it comes to online payments. Customers want to know that their sensitive information is safe and protected. When there is a strong connection between two fintechs such as Paramount Commerce and Flinks, operators can offer their customers the peace of mind. Paramount Commerce also offers a robust state-of-the-art risk management system backed with Flinks’ enriched data. Solutions backed by strong bank connections can also help operators prevent fraud and chargebacks, giving businesses and their customers added protection against online scams and cybercrime.
Having a payments partner that provides access to strong bank connections through their payment solutions is essential for the success of new and popular industries. By prioritizing security and trustworthiness, as well as convenience and flexibility, operators can build a loyal customer base and stay ahead of the competition.
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