Gambling Companies bypass UK credit card ban13th February 2020 |
Credit cards will soon be banned as a payment tool at UK-licensed casinos and gambling businesses from April 2020. The ban will come into effect from 14th April. It will apply to online and offline gambling, with the only exception being non-remote lotteries. The omission was made as it would create “a disproportionate burden on retailers” – such as National Lottery ticket sellers – to block credit card payments.
A payment and fraud management services aggregator called Easy Payment Gateway, has suggested that businesses that are going to be affected by this ban look for payment alternatives with the objective of continue attracting customers and continue growing their market share.
“If the announcement of the British Government’s decision has already caused losses in the shares of large gambling companies, the imminent entry of the ban and the uncertainty as to whether debit cards will be affected shows the need to find alternatives to help them overcome this situation,” says Gibraltarian Alex Capurro, founder of Easy Payment Gateway.
The Easy Payment Gateway platform has 240 payment methods, fraud management, kyc, etc. enabled – of which 190 are alternatives – encompassing 35 bank card processors worldwide. This means, in the words of Alex Capurro, “More opportunities for potential customers to find the payment method that best suits their tastes and needs.” The company showed all the possibilities its technology offers at ICE London, which was held on 4, 5 and 6 February.
It is of utmost importance that online gambling sites offer a vast range of options when it comes to casino payment methods. The more the opportunity the player has to make deposits into their accounts and make refunds of their winnings, the more of a chance there will be to increase the conversion ratio and therefore, to build customer loyalty and return customers.
Besides, it is essential that, in parallel, a process is in place that is agile and intuitive, in which the user does not have to go navigating through different windows since this can cause a certain distrust and abandonment on the part of the potential consumer. “The faster and easier the payment is for the client, the more possibility this business will have to make them loyal,” points out Capurro. “In addition, gambling customers tend to be very recurrent, so it is essential to facilitate payment, especially for those who are more trusting.”
The Easy Payment Gateway platform easily integrates into the website itself. It allows for the development of regular customer lists, known as whitelists so that customers are spared the verification process and can access payment directly, providing better user experience.
SOURCE: UK Gambling Companies Can Navigate Upcoming Credit Card Ban Effectively With Easy Payment Gateway, Europegamine.eu