60% of players noted the quality and speed of transactions as a decisive factor.
The prevailing opinion in the iGaming industry is that the main thing is the game selection or the available number of betting options.
However, the most effective way to lose players is to have a poorly customized user experience.
What does user experience consist of? In fact, there are two critical components: high-quality gameplay and smooth transactions. Every aspect of the user journey should contribute to player satisfaction and retention.
However, below, we will discuss the impact of the payment experience on the overall level of player satisfaction.
What role do payments play in the user experience?
It is no secret that players value simplicity and speed the most. This applies not only to the gameplay but also to payments. After all, even the best gaming content can lose its appeal if financial transactions are inconvenient. Several important factors determine the quality of customized payment systems.
Transaction speed
49% of players said they would likely switch to another platform if it promises fast withdrawals.
When it comes to depositing or withdrawing funds, players expect instant or minimal delay. If this process takes longer than necessary, player interest decreases, leading to decreased audience activity.
Instant payments are a competitive advantage.
Reliability and security
There is only one payment security guarantee: PCI DSS (Payment Card Industry Data Security Standard). According to the standards, the protection system guarantees the security of transactions, which helps reduce the risks of fraud and data leakage.
The Tranzzo team has developed a unique anti-fraud system that includes several schemes for detecting fraudulent actions with transactions.
The result of reliable protection is customer trust and high loyalty.
Availability of local payment methods
Since iGaming platforms often operate on an international scale, it is crucial to provide users with access to popular payment solutions in their country. For example, e-wallets may be popular in Europe, and mobile payments may be prevalent in Asia. The lack of local payment methods can be a barrier for new users.
Tranzzo develops a customized technical solution that is tailored to each business individually. That is why businesses have access to over 180 payment methods and more than 330 payment providers in one integration.
One integration — endless possibilities.
Transparency and fees
Players want to know what they are paying for. Excessive or hidden fees can negatively affect the attitude towards the platform. Transparency in deposit or withdrawal fees, clear rules, and limits minimize misunderstandings and improve the overall impression of the interaction with the platform.
Successful payments in iGaming — Why Tranzzo Payment Orchestrator?
The Tranzzo payment orchestrator provides technical solutions for smooth payments thanks to several key factors. Modern technologies and a reliable security infrastructure guarantee uninterrupted deposits and payouts of winnings, even under the highest loads.
- SLA OF 99.9%
The Service Level Agreement guarantees that the system is available to users 99.9% of the time during the month. This indicates a high level of reliability and continuity of the platform. In the gambling industry, where stable access to payment services is critical, this level of SLA provides confidence that players will be able to conduct transactions with little or no interruption.
- Smart routing
The smart routing system determines the optimal path for each transaction, considering factors such as the user’s geographic location, payment method type, gateway load, currency, fees, and historical data on the success of transactions through various payment services.
Automatic distribution of payment flows along the optimal route
increases conversion by 30%.
- Cascading
Instantly select an alternative gateway for payment processing if the previous one is unavailable. Cascading technology automatically redirects the transaction to an alternative payment gateway in case of technical or other failures. This feature is critical for the continuity of payment transactions and allows you to increase the percentage of successful payments by minimizing losses due to transaction failures.
Conclusion
In today’s iGaming business, a player-centered payment experience is critical to ensuring success and competitive advantage. Players expect fast, secure, and convenient payments, so innovative solutions such as smart routing, cascading, and support for global payment methods significantly impact their loyalty and satisfaction.
Tranzzo optimizes the payment process through innovative technologies and a customized approach to each company. As a result, your platform delivers a seamless, secure, and personalized payment experience that subsequently provides a significant market advantage, increasing customer retention and boosting your bottom line.
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