Online casinos and sportsbooks need to know the most popular payment methods in every market in order to offer their players the ones they need. A new article from Slotegrator details popular payment methods in markets around the world.
Players in every market have their own preferences when it comes to payment methods. While credit cards such as Visa and Mastercard are popular around the world, they’re not a skeleton key; legal restrictions, access to bank accounts and other barriers can drive players towards a variety of alternative methods.
In the UK, the use of credit cards for gambling transactions is prohibited. Instead, players use PayPal, debit cards and Open Banking, which uses APIs and open-source technology to increase security and transparency. Sofort, a payment service that promises smooth and secure transactions, is popular in Germany, Austria, Belgium and the Netherlands.
Access to traditional financial products is rare in Latin America, where it’s estimated that only half of the adult population has a bank account and less than 20% have a credit card. Aside from players’ lack of access, another barrier is that financial institutions often refuse to cooperate with gambling enterprises due to fears of criminal connections. As a result, players expect to use other payment methods.
In African countries like Kenya, money transfers using a mobile phone account, such as M-Pesa, have become wildly popular, especially among the continent’s large population of sports bettors. In Southeast Asia, players make transactions using payment processors 2C2P, Thaiepay and Paysbuy.
To learn more about these payment methods, as well as those that are widely used in Brazil, Portugal, India, Nigeria, and other countries, read the full article here.