Once considered an underdog, payment solutions are now essential to the expanding online gaming business. In newly regulated iGaming markets such as Ontario, bank account-based payment solutions, such as Instant Bank Transfer, provide benefits for both consumers and merchants. For merchants, they play an important role in brand growth and customer acquisition. For consumers, they provide instant gratification through safe and secure transactions.
So Many Benefits
Won’t Let You Down:
Credit card acceptance rates are relatively low in Canada’s gaming industry. Additionally, credit cards charge cash advance fees which can create a negative experience for customers. Through Instant Bank Transfer, players avoid bank rejections and additional fees. Instant Bank Transfer has reliable bank connections in Canada, which allows consumers to easily fund their gaming wallets or withdraw their winnings directly to/from their bank account.
Innovative Deposit Features:
Oftentimes, consumers need to leave their gaming experience to make a deposit, which can be frustrating. With features offered through Instant Bank Transfer, like In-game deposits, players can make a deposit while enjoying an immersive gaming experience. With the help of these features, instant gratification becomes more prevalent amongst players which converts into better customer acquisition and retention.
Withdraw The Way You Want:
Collecting their winnings is a critical moment for players. Sometimes players chose a payment method, such as a prepaid credit card, that only has the capability of making a deposit, leaving them with limited options to withdraw their money. Instant Bank Transfer’s Verified Withdrawals feature provides customers with a secure way to withdraw money straight into their bank account, regardless of what method is used to deposit the funds.
An important factor associated with bank account-based payment solutions is that they allow customers to enjoy gaming without having to rely on credit. If a player is dealing with gambling-related issues, the dependency on credit cards can lead to negative consequences. Products such as Instant Bank Transfer, which only allow customers to use the money available in their bank account to fund their gaming wallet, are a better alternative.
A Must Have For Merchants
iGaming merchants in Ontario benefit significantly when they integrate bank-account-based payment solutions on their gaming platforms.
They Are Compliant:
The bank-account-based payment products offered by Paramount Commerce fully meet the regulatory requirements set by the province of Ontario. Our solutions are equipped with essential compliant features such as bank account ownership checks and consumer location features. These features provide an additional layer of compliance that provides merchants with peace of mind in a newly regulated gaming market.
Solutions For Canadians:
Payment products offered by Paramount Commerce are popular amongst Canadians. Solutions such as INTERACⓇ and Instant Bank Transfer are well-proven and the most sought-after payment solutions in the online gaming industry. Working with the correct payment processor such as Paramount Commerce, who are industry insiders, will allow merchants to better reach their customers.
Risk Management Support:
Solutions such as Instant Bank Transfer are backed up by Paramount Commerce’s state-of-the-art risk management system. This system plays a very important role in the reduction of fraud, decreasing rejection rates while maximizing volume. Additionally, Paramount offers a real-time decision engine proven to mitigate fraud and provide merchants with the tools needed to manage risk. The risk management and fraud prevention solution gathers information from industry-leading sources, while a dedicated risk team continuously improves prevention and detection rules to keep transactions safe.
In a time where many payment methods are available in a merchant’s cashier, bank account-based payment solutions have proven to be one of the most effective and beneficial for both iGaming merchants and consumers. With the ability to attract customers, support brand growth, and provide multiple benefits for consumers, bank account-based payment solutions are essential for iGaming merchants expanding into Canada.