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What are the soundest payment solutions for your gaming business? It seems like every person on the planet has a gaming device or two. Whether it be a laptop, tablet, smartphone, or console, people are enjoying their favorite games more than ever before. And many of them are ready to pay for extra options of online game releases of Fortnite, League of Legends, and Dota using secure payment solutions.
According to the research, global video game industry developers have managed to overtake 200 billion U.S. dollars first-ever in 2022. One of the biggest dares for online game developers is how to handle the various payment methods. Today, customers can be lost between a few different options for payment, which can be confusing. Aiming to pick an innovative payment solution for their gaming business, entrepreneurs should think about the existing peculiarities of payment services.
How Gaming Payment Solution Differs
On account of internet gaming, arise out many companies that are trying to create an integrated payment solution for the gaming industry. However, this industry is not like other endeavors, where people can use cash transactions. Instead, gamers have to use a different digital payment solution designed specifically for them. In the world of gaming, a payment solution for the gaming industry needs to have more features than solutions for regular businesses. Gaming payment solutions should be able to deliver the proper level of convenience and protection.
To turn things better, we would like to see payment solution providers that offer more features and options than the current offerings. This would include automatic payments and more. In addition, we would like to see a solution that is easy to use and navigate. This would make it easier for customers to get their games delivered quickly and without any hassle.
Finally, we would like to see a solution that is affordable. This would make it possible for businesses of all sizes to get started with gaming payment providers that are perfect for their needs.
What To Look At When Choosing A Gaming Alternative Payment Solution
Payment solutions for the iGaming industry can be difficult to find. This is especially true if you are based outside of the major gaming hubs where traditional payment methods are unrestricted.
If you operate a small-scale or non-critical online gaming service, alternative payment gateways solutions such as credit and debit cards may not be essential for you. However, if you’re looking to expand into new areas or boost your revenue, alternative payment options may be worth exploring. So, what to look at when searching for a payment solution in the iGaming business?
Defense against frauds
It is crucial to minimize the risk of fraud. Fraud can be a significant issue for online gaming companies, so there are some key strategies to combat payment fraud.
Anti-fraud filters
Here are several types of transaction tools and filters designed particularly for online gaming merchants to identify, handle, and control costly fraudulent dealings.
IP and Velocity Filters
Stop doubtful activity from exact IP addresses, regions, or known fraudsters. Fix daily and hourly limits on the number of trades permitted to process through your account.
IP Shipping Address Mismatch Filter
You can compare the customer shipping address with an order to the IP address to determine whether the order is sent to the country from which it comes.
Mixed monitoring
Another method to prevent fraud is to use both a manual and automatic monitoring procedure. This technique would use an algorithm to analyze the player's pattern of behavior, and by doing so, identify any possible fraudulent behavior. It would also use a manual monitoring system which would be employed when the system detects any suspicious activity. The manual monitoring system would then notify the support staff of the player's behavior, who could then take measures to prevent further damage.
IT monitoring
IT monitoring is a system that monitors internet traffic to detect any suspicious activity such as bot attacks, DDoS attacks, and other fraudulent activities. If any suspicious activity is detected, the IT monitoring will notify the payment solution's customer service. Customer service can then take action to prevent any fraudulent activity from happening.
Flexibility and customization options
For the gaming business, it is significant to pick an enterprise payment solution that allows for flexibility and customization options. A good example of a flexible payment solution would be one that allows users to set up multiple accounts, customize how they pay, and set up a recurring payment plan.
Global reach
With the global reach of gaming, it is meaningful for any business that is involved in the industry to have a payment automation solution that can be used around the world. For example, many people use Apple Pay, Google Pay, Visa/Mastercard, and PayPal as their primary payment solutions because they are widely accepted and can be used in different countries.
Intelligent payment routing
There is a growing number of intelligent payment solutions for gaming that are not only cheaper but also provide a better customer experience. With intelligent payment routing, you can choose which of your customers will be given the option to pay with which gaming payments. This helps you manage your business better, and gives your shoppers the option to pay with the method that they prefer.
Payment routing is a payment processing feature that allows businesses to send transactions to the best available gateway based on certain parameters—it helps maximize transaction success rates for customers and your business.
By employing intelligent payment routing, a business can reach its processing goals: transaction costs optimization, acceptance rates increase, provider downtimes protection, or payment load distribution.
Options for subscriptions and recurring payments
When it comes to the gaming business, it's important to consider offering customers options for subscription and recurring payments. These features can provide clients with a consistent and reliable way to pay for their games, without having to worry about fluctuating prices or long wait times.
Additionally, these options can help gamers save money on their game purchases, as they can easily pay for their games over time rather than all at once. If you're considering a gaming payment solution for your business, be sure to explore these options and find the perfect fit for your needs.
In-depth analytics
When it comes to choosing global payments gaming solutions for your business, it's important to take into account the various factors. For example, what type of payment solution will my business need? How will I be able to pay my players? What kind of security measures will I need? And how will I be able to track my players' progress?
The most profitable method to answer these questions, you will need to use some form of analytics. This can help you understand your business's performance, identify areas that need improvement, and make decisions accordingly.
There are many different ways to analyze this data to get a better idea of which option will work best for your company. One way is to look at the number of transactions each method has per month. Another way is to look at how much money each method generates.
Seamless integration with existing financial ecosystem
For gaming companies, it is important to consider how a payment system will be integrated into their gaming business. There are many different gaming solutions worldwide to choose from. Each one of these options has its own benefits and drawbacks. For example, PayPal is a more secure option than Apple Pay, but the fees are higher.
Apple Pay is a more convenient option than PayPal because the fees are lower and it is easier to use in-game purchases. These options can be tailored to suit the needs of your gaming business.
Reliable payment processing
There are many different online gaming payment processing solutions available to game developers. Each of these options has its own benefits and disadvantages. Payment processing services speed up transactions. And secure payment gateways ensure that merchants receive the money from customers' issuing banks and not from anyone else's bank account. And it is just a matter of seconds.
A business that implements a successful strategy by choosing a reliable payment processing provider will reap the benefits of increased sales and reduced operating costs.
Risk management options
When you are a business owner, it's important to consider your risk management options when choosing gaming payment systems for your business. Risk management options should be available when it comes to a payment solution. These options may include payment protection, chargeback protection, and fraud protection.
The benefits of choosing a payment solution with rich risk management capabilities:
- A secure transaction process
- A single point of contact
- A single source of truth for all financial information
- Predictable fees
Compliance and authentication options
Compliance and authentication options are two of the most important factors to consider. Compliance means ensuring that your customers are properly authenticated and that their data is safe. Authentication means verifying the identities of players and game items. This means verifying their identities, their playing habits, and their game sessions.
This is important because it helps to protect your data and your customers. You can choose a secure payment solution that is compliant and authentication-friendly, and you will be able to increase your business' security and revenue.
Hybrid settlement operations out of the box
Fast transaction processing is critical for businesses as well as the stability of financial systems. Banks may experience periodic liquidity shortfalls when speeding up payment settlement, which can be costly in terms of funding.
Settlement systems are an important part of the infrastructure of any financial system. They are responsible for finalizing transactions between participants and ensuring that all payments are made in a timely and accurate manner.
An intermediary manages a hybrid mechanism that is good for settling a lot of small-value payments.
Hybrid settlements offer a variety of options and can be customized to fit your specific needs. For example, including both direct and indirect payments. This means that you can choose to pay your players directly, or you can pay them through intermediaries like banks or credit card companies.
Additionally, hybrid settlements can include a variety of features, such as automatic payments and withdrawals, ensuring your players are paid on time and without any surprises. Finally, hybrid settlements can be tailored to fit your specific needs, including the amount of money that you want to pay out each month.
Fast and secure checkouts
According to Statista, 20% of respondents did not feel comfortable while paying using mobile devices. Fast and secure checkout options make it easy for customers to pay for their purchases, and also protect your business from fraud. This will help to ensure that your customers are able to complete their transactions quickly and without any problems.
Additionally, a secure checkout process will help to protect your data. Reliable payment providers offer a fast and secure checkout process that is perfect for gaming businesses of all sizes.
Reliable support
A good customer support team will not only be able to help you with any technical issues, but they can also assist you with the implementation of your payment solution. They will also be able to answer any questions you have about the product and how it works.
In the gaming industry, customer support is crucial because it's the connection between gamers and developers. Many game developers cannot keep up with the demand for games, so they rely on customer support to help them out.
Corytech: A Gaming Alternative Payment Solution
Corytech is a digital payment platform that allows you to accept electronic payments from anywhere. It is easy to integrate with your website and offers features like recurring payments, automated payment reminders, and more. If you are looking for an easy way to accept digital payments, Corytech is an option worth considering.
Accept fiat & cryptocurrency
Both crypto and fiat get on track! The Corytech team aims to provide a safe and secure platform for online gaming and cryptocurrency transactions. Their platform is not only able to offer a variety of currencies to pay for games, but also a payment solution that is easy and convenient for modern gamers.
Multiple currencies inside
Numerous currencies are on top! Corytech is a gaming auxiliary payment solution that uses multiple currencies. It is a cryptocurrency that is designed to facilitate the sale of games and other content online, similar to Steam and other online gaming stores. It also allows for the purchase of digital goods, virtual items, and subscriptions. The currency can be used in a variety of ways. For example, you can use it as a form of payment for purchasing games, subscribing to services, and buying virtual items.
Fair transaction fees
No high fees anymore! Corytech is a gaming extra payment solution that helps gamers make fair transactions on games. It also helps gamers by offering them discounts and rewards. Corytech has partnered with well-known game developers to offer gamers an opportunity to buy or sell games for fair prices.
Full transparency of the payment process
It is a transparent solution! Corytech offers a more secure and transparent way to make payments. The platform uses a decentralized system where users can verify their identity and transaction history without having to give away any personal information. Corytech also provides a wide range of payment options such as Bitcoin, Ethereum, and more.
Smart settlement
It keeps pace with smart solutions! Corytech is a new gaming alternative payment answer with a smart settlement. Corytech allows people to use the power of their mobile devices to make fast, secure, and easy payments for their games and other purchases. With this innovative system, players no longer have to worry about forgetting their cards or having to wait for the bank to approve a payment.
Anti-fraud system
It is solid as a rock! Corytech has an anti-fraud system that protects users from any scams, fraud, or chargebacks. With Corytech, players can avoid fraud and ensure that the transactions are safe by paying with crypto-currencies. The platform offers a transparent anti-fraud system and anti-theft protection. The platform also has a built-in anti-fraud protection system that allows users to make purchases with confidence.
Flexible payout options
It offers flexible payouts! Corytech is a gaming alternative payment solution that provides a flexible payout option. This means that you can choose the payout amount you want to receive and the amount of time it takes for you to reach that amount.
Gaming Payment Solution FAQ
How does smart payment routing work?
Smart payment routing is a feature that lets you make payments to any merchant, no matter where they are located. It is a simple process that is similar to the current way of paying for items online. The only difference is that your purchase will not be directly charged to your account and instead will go through a third-party service which will then charge your card.
What is real-time risk management?
Real-time risk management is the process of analyzing and managing risk in real time. It is a proactive approach to risk management that relies on the use of data and information to effectively assess, monitor, and control risks. It is essential for businesses that do not want to be exposed to unnecessary losses.
What are the best options for payouts?
If you are in need of a payout, there are many options to choose from. Some of the options include cash, check, and Corytech. The best option for you may be determined by your budget and preferences.
What’s Next?
In order to start your gaming business with the best possible chance of success, it's important to understand the different payment solutions available. You need to find a solution that is fair and affordable so that you can focus on your business goals. If you're not sure which payment solution is right for you, it's important to research each option thoroughly. You should also be aware of the unique selling offers that each provider offers.
Corytech is a payment solution that can help boost any gaming business by taking its users' experience to the next level. With Corytech, you can easily and quickly process payments for your games, and you can also manage your payments with ease and precision. Corytech is the perfect solution for businesses wanting to increase their online presence and improve customer service. It's easy to use and provides a high-quality experience for your customers. So if you're looking for a payment solution that can help boost your gaming business, Corytech is a perfect choice!
If you're looking for a payment solution that meets your specific needs, Corytech is the perfect company for you. Contact us today to learn more about our payment solutions and how we can help you meet your business needs.
