A plethora of online payment methods are changing the relationship that customers have with the banks and financial providers. Nowhere are these evolving behaviours more apparent than in online gaming and gambling environments, where payments that can be made extremely quickly and with minimal fuss are most highly prized.
Regardless of your opinion of online gambling, a newly released summary of payment types by Online Casino Reports gives no-nonsense insight into which methods are most popular where, and why. Below is a country-by-country breakdown of the online payment methods used around the globe.Unsurprisingly for the target market, the focus here is largely on ease and speed of use, with minimal need for personal or card details to be entered. These expectations are quickly spilling into other sectors, too.
Three payment types that are popular across the continent are Paysafecard, EPS and FundSend.
Paysafecard is a pre-paid card that allows users to deposit and withdraw funds directly with minimal personal information, no additional fees and no need to enter card details. EPS allows funds to be transferred between online accounts, whilst FundSend transfers money by linking back to credit or debit cards.
In Germany and Austria, SoFort is named the recommended payment method, allowing customers to move money from their bank into their online accounts – although moving it back again poses more of a struggle, with clients having to request a cheque to make withdrawals. In Holland, iDeal is cited as the most convenient and secure option, whilst players in the Nordic countries tend to use InstaDebit, , Nordea and, in Finland, Nordea.
In Poland PayU is listed as a popular choice for online gamblers, as it allows users to switch between different “feed” accounts, such as their credit card or bank account.
In the US, traditional credit cards still rule the roost, with Visa and Mastercard proving the most popular. Pre-paid MST gift cards and ACH direct, which allows users to transfer funds between online casino accounts and their bank account, are also recommended options.
POLi, a Melbourne-based payment provider that allows funds to be transferred between Australian bank accounts and their chosen online casino, is listed as the most convenient method here.
Across Asia, UnionPay and Asia365 are cited as recommended methods. UnionPay is a pre-paid card system and Asia 365 facilitates transfers between debit or ATM cards and online accounts.
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