Payments Focus 2024
Editor's Letter
It is that time of year again, as we welcome all our readers to the pages of our annual Payments Focus magazine. Across this issue, you will find topics ranging from retail, the US, affordability, ID checks, kiosks and, of course, digital payments. And that’s all without mentioning that this edition is a cryptocurrency special.
As the Editor putting this magazine together, however, I am actually a little taken aback by the above list. A couple of years ago, there seemed to be two distinct focuses across gaming payments: how to make withdrawals and deposits as streamlined and frictionless as possible on the digital side – and how to make the land-based side as cashless as possible.
As time has gone on, the industry has seen the need for variety – even if that means offering a greater amount of old-fashioned options. Yes, society is becoming increasingly cashless. But has cash gone away completely? Not at all.
Just look at the Philippines, where the recent SiGMA Asia Summit was held. The Philippines is one of the foremost online gaming regions in Asia – but, with a bustling land-based casino sector in Manila, too, cash is king. The same can be said of plenty of other regions across the world.
Retail payments strategies are therefore paramount to success: kiosks, terminals and figuring out how payments form part of a gaming company’s omnichannel strategy.
Yet, from traditional retail payments to a far more modern concept in crypto, we can see that the simple idea of making a payment can provide a broad spectrum of potential methods and offerings.
In our cover feature, Gambling Insider speaks to several industry experts and breaks down the history of crypto payments – from their origin after the financial crisis of 2007, deriving from a distrust of the big banks, to the most popular cryptocurrencies used today.
Gaming and crypto have definitely come together. But today’s challenge for gaming firms is how to bring together crypto payment options, fiat payment options, online, retail and any other way in which a customer would like to pay.
Because, in business, those who adapt to what their customers want will always succeed in the long run. Those who try to dictate to the market, carefully explaining why they can’t offer certain options, will fall by the wayside – no matter how prestigious or previously successful they may have been.
MiFinity: Giving users more control
Gambling Insider sits down with Paul Kavanagh, MiFinity CEO, to discuss the supplier's goals, and why iGaming operators are switching from traditional online payment solutions.
In Focus: Praxis Tech
Praxis Tech’s CTO Guy Karsenti highlights how the company's Payment Orchestration Platform liberates iGaming merchants from restrictive Gateway, PSP and Acquirer agreements. It also enables them to scale operations, diversify payment options, and leverage advanced features in conversion and transaction approval.
In focus: PayRetailers
Cross - border payments are no longer optional - they're a must - have for any merchant who wants to make a splash in the global iGaming scene.
Digitalising land-based casino payments: How and why casinos are going cashless across the US
Gambling Insider speaks with Sightline's Head of Product, Mandi Hart, to discuss how the cashless integration process is carried out, plus the attitude shift from land - based casinos to becoming cashless payment providers for guests.
In focus: FinXP
Prioritising reliable global payment solutions
UK affordability checks: What will happen next?
Gambling Insider's Ciaran McLoughlin runs through the latest developments with affordability checks in the UK, with help from some legal experts
In focus: Paysafe
Zak Cutler, President of Global Gaming at Paysafe, discusses connecting operators to all the ways players pay via the single integration Paysafe gateway.
Coming together: The past, present and future of crypto gambling
With contributions from BitStarz, Gamblineers, Finix, Payhound and FinteqHub, Gambling Insider staff writer Beth Turner investigates the history of Crypto Gambling, the pros and cons of its use and why so many operators are integrating it into their platforms.
In Focus : Payhound
With a mission to empower companies to deal with cryptocurrency as easily as they deal with fiat, Payhound is providing payments solutions tailored to the needs of the gambling industry. Originally established in Malta, Payhound has grown to cater to a wide array of clients within the gambling space and beyond, in industries such as Forex, Payment Services and Investment Services.
Utilising the concept of paying it forward as a multi-faceted promotional strategy
Gambling Insider looks at how operators can use payment methods to support an omnichannel strategy... and greater CSR
In focus: OKTO
Setting the standard for payment excellence
Power to the kiosks: The balancing act between card and cash
Fivos Polymniou, director of Ask Global, explains how kiosks that accept both card and cash payments can empower retailers to welcome every customer, while also improving efficiency and confidence.
The holy grail of ID safety & convenience? It's all in the timing
Aware biometrics CRO Craig Herman speaks to Gambling Insider about ID checks and the 'achievable' goal of balancing safety with convenience.
From the ground up: The house that bitcoin built
With insights from Bitstarz and data from SoftSwiss, Gambling Insider investigates the most popular betting cryptocurrencies.
Meet the cryptos: The family that Bitcoin brought to the gaming table
With all this talk of Cryptocurrency, we felt it is rude to mot introduce you to a few of Gambling's most used coins.
In focus : PayNearMe
The payments you want with the fraud protection you need
