PayPal Set to Process Payments for Poker and Casino Sites
Over the years, PayPal has earned the reputation of being a fast, reliable and trustworthy provider of online financial transaction services. That is why, the company’s decision to extend its services to the regulated iGaming market in the US has generated much excitement and buzz not only amongst the providers of gaming services but the players as well. The decision is believed to influence the prospective business levels and the overall trustworthiness of online gaming in a significantly positive manner. According to OnlineCasinoReport, it is being suggested that the processing of the payments for regulated casino and poker sites by PayPal might begin in the next couple of months.
The Need For PayPal Services
The internet has played a significant role in popularizing the concept of casino and poker games amongst the masses. In fact the recreational and gaming opportunities online casinos offer are limitless but one must consider best casino reviews before choosing one. Although there has been a steady increase in the number of people using various online gaming websites, the various drawbacks of the current payment systems is limiting the popularity of regulated casino gaming to only a small section of the society.
Most online gaming providers today are having a tough time in terms of providing an efficient and affordable payment services to the clients. A number of these provide use different types of credit cards which besides having a decline rate of nearly 25% are also prone to various glitches that are constantly visible in the electronic check system. Most other providers use alternate payment systems such as Neteller, Skrill, and site-specific debit cards which offer their services at an exorbitant processing rate of nearly 100%.
What It Means For iGaming Providers
The introduction of PayPal services, a well known and trusted name in North America, is expected to change this scenario. It is expected to create a bridge of trust between the gaming providers and their prospective customers who are well aware of the fact that online casinos are limitless source of thrill and entertainment. The use of PayPal services is expected to offer the following benefit to people associated with online gaming.
· The reliable and highly efficient services of a brand renowned across the globe
· Ability to streamline the payment process and make it more transparent
· Enhance the appeal of the regulated iGaming sites and providers amongst recreational players
· Increasing the popularity and traffic of regulated online gaming websites
· Provide fast and hassle free transactions facilitating easy access and entry for clients
Features That PayPal Transaction Systems are Expected To Offer
The addition of the powerhouse services of PayPal is expected to enhance the iGaming business by significant margins. This move is all set to overcome the only drawback that has restricted the rapid progress of this otherwise successful industry, namely the processing aspect. This is expected to be achieved through the below listed features offered by PayPal transaction system.
· Handle credit card processing to eliminate any risks of leak of customer’s banking information by unknown third parties
· Offer the facility of maintaining PayPal balance for internet users in a legitimate and secure manner for various online transactions
· The availability of e-check system for eliminating the glitches of check processing systems faced by various online gaming providers
· Providing diverse options of withdrawal for the customers including electronic check, paper check, and the PayPal debit card
The involvement of PayPal in the regulated gaming market In US is definitely a landmark development for the entire gaming industry. With the company already having the experience of serving the regulated online gaming market in Europe, the step is sure to enhance the reliability and popularity of US online gaming in a huge way.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.