Payment Technologies That Improve Your Online Gaming Safety

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( — April 20, 2022) — Thanks to the popularity of online gaming, several technological advancements have come about as a result. Besides getting an assortment of gaming options, fans can also enjoy making real money wagers thanks to the availability of safe online payment solutions. These security features are available with renowned service providers globally. So, you don’t need to look too far to find something suitable for you.

Getting to play with real money at an online casino means you can enjoy real rewards. In most cases, the deposits are instant, and sometimes, even the withdrawals are fast. Besides that, the thrills experienced get enhanced since you have something at stake during each of your online sessions.

Measures in Place to Secure Online Transactions

But what helps to make these solutions safe, considering how prominent online hackers are? For starters, constantly reminding every player to keep their banking credentials private helps the cause. Here are some technical measures to keep your payments confidential at online casinos.

  • One-Time Password – Also called two-factor authentication (2FA), the chosen service provider will send you a code whenever you log into your account. So the only way to gain access to your details is by using the provided code, which remains active for a few minutes.
  • PCI Compliance – The Payment Card Industry is an organization tasked with setting regulations for electronic payments. So PCI compliance is the first step a company takes before their customers can make transactions.
  • 3D Secure – This option enables merchants and payment service providers to share confidential details. These help to authenticate transactions whenever a money transfer gets made. So it minimizes chargebacks for merchants and fraud for players.
  • Tokenization – Some payment service providers protect transactions by turning the transaction details into random numbers. Referred to as tokens, these help the transaction details get transferred without the risk of any breaches.

Top Payment Methods for Online Gaming

As with anything concerning money, players need to be careful which methods they choose. The best way to find options that boast new-age features is by finding those that complement their gaming preferences.

1. Anonymous Payments

For players that don’t like to provide their details, cryptocurrencies and prepaid cards or vouchers save the day. With cryptos like Bitcoin, all your details remain private thanks to Blockchain technology. This option even allows you to change your account details every time you make payments. So, your deposits and withdrawals can come from different addresses.

As for prepaid cards and vouchers like PaysafeCard, you’ll purchase the cards from vendors with the amount you’d like from the available denominations. You’ll then receive a PIN to help you make your payments on the casino’s site. So, none of your banking details gets used in the process.

2. Mobile Transactions

Since online gaming is now available on portable devices, it’s only fair that payment service providers also offer mobile-compatible options. With most payment methods, you can transact directly from your device. That could be through mobile browsers or dedicated apps. An example of this is Boku, which is popular with players in Europe.

3. Fast Transactions

While online, it’s always advisable you avoid linking your bank account or debit card with a merchant or gaming platform. Doing so makes it easy to get conned if the site you linked to wasn’t secure. So, for fast transactions not tied directly to bank accounts, eWallets are worth considering.

Players can open accounts with various service providers like Skrill, PayPal, and Neteller to enable transactions. So whenever they’d like to play, they can transfer funds from their bank accounts to the eWallet account. Then, the eWallet’s details are what is provided to the casino to facilitate transactions. Payments through this option tend to get processed instantly on most sites.

Factors That Determine the Best Payment Options

Although online gaming is a global affair, which payment solutions will be available to you differ based on different instances. So, even if you’re looking forward to using some options over others, you need to find out more about them. Some of the commonly experienced limitations for players include:

Location Restrictions

With online payments, some service providers only accept transactions within specified regions. So if you don’t fall under that list, you won’t be able to own an account to help you fund your gameplay.

Preferred Currency

As with the location preferences, some payment methods only work with select currencies. So, if you do not want to incur currency conversion fees, you’ll need to find a service provider that accepts your preferred currency. Especially if the site you’d like to play at takes a currency you’re comfortable using.

Transaction Types and Amounts

Some payment service providers enable gamers to deposit and withdraw funds using the same method. But some only accept one type of transaction. So, you may be able to deposit but not withdraw your money, and vice versa. That means you would need to find another solution to process the payments not catered to you by the chosen option.

Fees and Transaction Limits

Due to your location or the currency you use, some service providers will charge you for using their service. Find out what the commission percentages may be. That way, you know whether to opt for another payment method.

You may also need to choose options with really high or really low transaction limits. So, regardless of how much you’d like to play with, your payment solution allows it.

In Summary

Advances in financial technology enable players to have a more streamlined time whenever they visit gaming platforms for real money experiences. And the best part is they can enjoy safe sessions since their transactions get secured across multiple levels depending on the chosen option.