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There is a huge number of iGaming Payment Providers. Which one will satisfy your needs? This question is asked by many businesses. Many businesses ask this question, but few get the correct answer.

The global online gaming industry is expected to reach 127 billion in 2027. Having the best iGaming payments services available is essential. The more customers you serve, the quicker payments are, and the greater your income, the better the provider.

Choosing the right provider is not always easy, especially when you consider the high-risk industry of iGaming. This article will walk you through a nine point checklist. This will ensure that you are able to access the top iGaming providers.

Buckle up!

1. Check if an iGaming software provider is high-risk friendly

iGaming has a high level of risk. Select a provider that specialises in high-risk industries, to reduce disruptions and transaction rejections.

Take note : Some payment providers will not work with industries that are high-risk, resulting in delays or higher fees.

To be high-risk-friendly, the right iGaming payments provider must possess these features:

1. 
   No volume restrictions
   
2. 
   Understanding the industry down to the bone
   
3. 
   A dedicated account manager who is an expert in the industry
   
4. 
   Support licenses in different jurisdictions
   

2. How long does it take for an iGaming payment provider to open a business account?

You have now narrowed down your list of the best payment providers in iGaming. Next, you need to ask yourself:

What is the time required to open an account for a business?

When you open a business bank account, there are usually two main challenges to overcome:

1. 
   Long approval process.
   
2. 
   There are many documents to be provided.
   

Many banks do not understand the iGaming industry. They ask you a lot of questions that are not related and they require documents that you do not have. can take months or even weeks to get a business account.

In a few weeks, a good provider will open a business account. In about 48 hours, a great iGaming solutions provider will open a business account for you.

https://account.paydo.com/en/auth/business/sign-up

3. Make sure that the iGaming payment provider has SWIFT in their arsenal

SWIFT should be used for international transactions. This scheme allows faster and more secure iGaming transaction. This scheme reduces delays, and ensures that deposits and withdrawals are processed smoothly.

SWIFT is essential for iGaming operators. Without it, they risk slower processing speeds and unhappy players. The rule of thumb is that the more payment methods you can access, the better.

4. Does iGaming Payment Provider Offer Multiple Currencies?

Next, you should ask this question. This is your next question. It is still necessary to pay contractors using their local currency.

A multicurrency bank account can also be expensive. For each additional currency that you may need , banks and EMIs charge.

5. Check if an iGaming payment provider offers merchant services

You need a good checkout if you want to accept payments on your website.

How do you define a “good checkout”?

Most often, you will want to know the number of chargebacks and rolling reserves. You also want a checkout system that is easy to integrate.

6. What about mass payouts?

Every iGaming provider knows that it is difficult to send payments to multiple customers. each payment is made by when you do not have mass payments through your iGaming service provider. It will require a great deal of time and nerve.

.

7. Check if an iGaming payment provider has both virtual and physical cards

Both virtual and physical cards offer flexibility in both payments for business and withdrawals by players. You can use them for advertising, corporate expenses, or payouts. A personalised plastic card also speaks volumes about the brand.

8. Global and Local Regulations

The next logical step after examining the services offered by a selected best iGaming Payment Provider is to check for compliance. It is important to verify that the provider you choose has the legal authority to offer certain services, and also operate in partner destinations.

As an iGaming Payment Provider, you should at least have:

1. The Financial Conduct Authority .
2. Financial Transactions and Reports Analysis Centre of Canada.

A good iGaming provider will also have an Authorised Electronic Money Institution licence. This license allows the platform’s electronic money to be issued and related financial services offered within the European Union and European Economic Area.

9. Check the security measures that an iGaming payment provider implements

These security measures are not negotiable for top iGaming providers:

• Built-in anti-fraud.
• PCI-DSS Level 1 compliance.
• 3D-Secure (3DS) technology.
• Anti-money laundering (AML) protocols.
• Automated KYC

PayDo – All Payment Solutions in One Place

All roads lead to Rome. But all the above aspects lead to platforms such as PayDo.

PayDo is an ecosystem for payments. It covered all aspects that we discussed. The platform is called:

1. High-risk friendly:

1. 1. No volume restrictions.
   2. No hidden fees
   3. No minimum commitments
   4. No minimal balances
   5. No nonsense requirements
   6. All iGaming Licenses (Curacao Included).
   7. Understanding of industries with high risk.
   8. Support for Curacao licenses and others
   9. Account manager with extensive experience of iGaming
   10. Instant payouts
   11. Payments in advance
   12. 140+ destinations

2. Opening a business account

1. 1. It takes about 48 hour.
   4. Onboarding is just as fast as verification.

3. Nine payment schemes:

1. 1. SEPA
   2. SEPA instant
   3. Fedwire
   4. Target 2
   5. FasterPayments
   6. Chaps
   7. BACS
   8. Kronos2

4. Multicurrency:

1. 1. IBAN dedicated to 35+ currencys and 150 countries.
   2. Personal Account with 12+ currencys
   3. No extra charges for currencies.

5. Checkout:

1. 1. Zero chargebacks
   2. No Hold or Rolling Reserve
   3. Easy API Integration
   4. Payment methods: 350+
   5. Localization
   6. Instant settlements
   7. Conversion rate > 98%
   8. Websites Unlimited

6. Mass Payouts:

1. 1. Automated payouts that do not require any manual inputs.
   2. The customer receives their money without any fees.

7. Virtual and physical cards

1. 1. Offer employees personalized cards.
   2. Improve corporate expense management.
   3. No limitation on the number of certificates issued.

8. Compliance and Security

1.Licensed by:

1. 1. 1. FCA.
      2. FINTRAC
      3. UAB.

2.Security measures:

1. 1. 1. Built-in anti-fraud.
      2. PCI-DSS Level 1 compliance.
      3. 3D-Secure (3DS) technology.
      4. Anti-money laundering (AML) protocols.
      5. Automated KYC
      6. Encryption.
      7. Safeguarding.

PayDo has also been nominated as a finalist for the Payment Innovation Award .

SBC 2020 convention with a focus on iGaming.

PayDo has now become a Direct SWIFT Participant. The platform can now send and receive messages through the SWIFT Network without intermediary banks.

PayDo clients will benefit from faster transaction speeds and fewer delays.

The conclusion of the article is:

Check these factors when choosing a payment service provider for iGaming:

1. 
   High-risk friendly;
   
2. 
   Opening a business account
   
3. 
   SWIFT availability;
   
4. 
   Multiple currencies;
   
5. 
   Merchant services;
   
6. 
   Mass payments;
   
7. 
   Virtual cards and physical cards
   
8. 
   Compliance;
   
9. 
   Security Measures
   

PayDo, one of the top iGaming providers, has worked hard to create a solution that would stand out on a competitive market. PayDo offers the services of eight to nine payment providers under a single contract.

Open a new account right away. We’re ready to go when you are.

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