Did you know? There are over 100 million online poker players worldwide. Poker games keep people crazy and all over the world, it is among the fastest-growing businesses. It is a high-risk business and thus needs responsible payment processing support for which merchants depend on a proficient payment gateway for poker. But what decides proficiency? Well, when it comes to online poker, the most important thing is payment technology. Because bulk transactions happen and gamers want to use their preferred payment technologies.
Blockchain payments in poker
For some blockchain technology are still like a recent invention. But in some industries, it is among the most preferred technologies, especially as a payment tool. There are many benefits that it forwards to poker merchants and customers. Thus businesses look for a payment gateway for poker that can facilitate blockchain payments. Blockchain technology has so much more to offer in the coming years. Because it is an innovative technology that is ideal to improve customer experience in every sector of the market.
What are blockchain payments?
Blockchain payment is a payment processing platform that works on blockchain technology. And that also facilitates transaction management through low-cost, encrypted distributed ledgers. The special thing about this technology is that payments can be verified without any bank or intermediary financial organization.
Benefits of blockchain payments in poker
- Uncompromised safety – Gone are the days when blockchain was the least trusted and in fact notorious payment technology. Due to its dispersed nature, blockchain payment technology provides strong security and protects the safety of transactions.
- Cost-effective – In blockchain payment, you do not need any intermediary to verify the payment or receive payments. There is no requirement for paper-based documentation. No fee is applicable for transaction processing, in some places only a nominal amount is charged. Also, no conversion amount is charged while transferring the amount from a personal wallet to a account.
- Beyond the geographical limitations – Blockchain payments can be processed even in parts of the world where governments implement immediate bans or act stringent against gambling websites. Blockchain payment processing does not need KYC (know your customer) formalities. And which is a cause of relief for the merchants in such areas.
Mobile payment technology
Mobile technology is among the most popular technologies in the poker industry. Because people love to play with this handy device and also enjoy convenient payment methods. In the past 10 years, the use of smartphones has increased. And it should not be an exaggeration to call it the most preferred poker-playing platform.
What is mobile payment technology?
Mobile payment technology is a way to transfer money or make a payment to a merchant or a person using a mobile device.
Benefits of mobile payment technology in online poker
- Convenience is the supreme reason – It is so easy to play poker on your mobile and make payments from the same small device while traveling or relaxing on the couch or doing breakfast or anything. Yes, the point here is the comfort that poker players seek.
- Multiple benefits with security – So much come with mobile payment technology such as near-field communication, mobile payment processors, QR codes, etc. which offers a unique connected experience to the user. Also, it is a great thing for the merchant as it helps retain customers.
- Safer and secure way to make payments – Today merchants employ technologies like tokenization and encryption. And that keeps a customer’s financial data safe and under the shields of strong security tools. All payments made through mobile are always safe and speedy.
No payment gateway can ever survive in the payment industry if it cannot facilitate real-time transactions. Real-time payments are among the most sought-after payment methods all across the world because they have multiple benefits. Online Poker Merchant Account holders cannot miss the opportunity to exploit the significance of RTPs. Because of the process of hefty amounts every single minute, thus need a more reliable and speedy payment system.
What are real-time payments?
Real-time payments are the platforms for transaction management where digital transactions are settled in real-time. Nothing gets forwarded or delayed on the part of the settlement in this payment type.
Benefits of real-time payments
- Speedy transactions – Of course, poker games are all about speed and energy and when the gamers are mind-boggling on their next move, they cannot bear any delay in payments. Whether it is about adding funds in the middle of a game or getting the financial rewards after winning, speedy transactions are the ultimate requirements.
- Improved cash flow for merchants – A high-risk merchant who always struggles with high fees, higher charges, and expensive business operations always desperately seeks regular cash flow. The real-time payments ensure a regular flow of funds to the merchants. And they can also use the obtained funds to enhance business.
- Makes business relationships better – Real-time payments or also known as RTPs are good for improving business relationships with partners, vendors, shareholders, etc. When someone has to wait for payment, it breeds uncertainty which in turn causes a lack of trust. But in the case of payments happening in real-time, there is no delay and frustration in the waiting time. When business relations improve, it helps create goodwill in the market which is the most precious asset for a poker merchant.
Payment technologies keep enhancing in nature and type. The digitization of economies has created great opportunities for high-risk merchants to flourish in a predictable atmosphere. They can operate businesses in a certain and secure way and can attain the trust of their customers. Running an online poker website is a profitable business but also full of risk.
Thanks to the latest payment technologies that contribute to facilitating not only convenient transactions but also developing the good image of the gambling businesses. By adding transparency in online payment processing, these technologies increase the confidence level of not only the merchants but also the customers. If you have an online poker business, WebPays payment gateway poker solutions can help you get affordable solutions at competitive rates. Visit the website or leave your query to receive a response in a short time.
Hello, I am a professional SEO Expert & Write for us technology blog and submit a guest post on different platforms- we provide a good opportunity for content writers to submit guest posts on our website. We frequently highlight and tend to showcase guests.