- February 14, 2022
The gaming industry has a long history of development, but with the advancement of the times and the popularization of technology, the borderless iGaming industry has become the mainstream of the gaming industry, and various forms have developed along with regional development. In the early days, it took a lot of manpower, time, and money to build an iGaming website, but now you only need to choose a white label iGaming plan through a white label iGaming company, and you can save the need to build an iGaming website, operate the backend, and connect to the game API., these cumbersome procedures. But if you want to become a successful iGaming platform, in addition to having a variety of gaming games to attract iGaming players, there is another factor that cannot be underestimated, and that is iGaming payment channels. After all, without iGaming payment channels, iGaming platforms will be unable to generate revenue.
Many people may have heard of the iGaming payment industry or iGaming payment channels, but they don’t know much about it. What is the role of the iGaming payment industry in the iGaming market? What situation is the iGaming payment industry facing today? Let TC-Gaming take you to understand the development and future of the iGaming payment industry.
The so-called iGaming payment industry is to provide payment channels for iGaming platforms to use. iGaming players obtain payment channels provided by the iGaming payment industry from the iGaming platform to recharge or withdraw funds. The most commonly used payment channels in the iGaming payment industry are the payment channels and bank cards of the three-party payment interface.
But starting in 2019, the Chinese government has taken various powerful and intense measures to suppress China’s iGaming industry. Three-party payment and bank cards have become the scope of supervision of financial rectification, and the account fund flows of third-party payment and bank cards are subject to strict monitoring. This includes account income and expenditure, online banking income and expenditure records, large account transactions, and abnormal flow, which will be included in suspicious transactions for monitoring, and even the account will be frozen. The purpose is to completely cut off the source of third-party payment and bank transactions. Sources of funding for China’s iGaming industry.
The iGaming market and the iGaming payment industry have been severely impacted by the Chinese government's series of policies. Some iGaming platforms have even been defeated by the Chinese government's series of suppression of China's iGaming, and have no choice but to withdraw from China's iGaming market. There are also some iGaming platforms and iGaming payment industries that continue to operate and have begun to move to the iGaming market in other regions. Various exclusive Southeast Asia white label iGaming on the market as well as the Southeast Asia iGaming market have received great attention at this time. At this time, white label iGaming companies rushed to enter the Southeast Asian iGaming market and launched the Southeast Asia white label iGaming in order to seize the Southeast Asian iGaming market.
The reason why the Southeast Asian iGaming market has become so popular and become an emerging market for iGaming is because Southeast Asia is mostly a developing country with a large population, and the rapid development of economy and technology. Because of this, the demand for iGaming Policies are relatively loose. However, the social culture, language usage and iGaming user habits in the Southeast Asian iGaming market are quite different from the Chinese iGaming market. The payment channels used by the iGaming payment industry to enter the Southeast Asian iGaming market are also different from those used in the Chinese iGaming market.
In the Southeast Asian iGaming market, in addition to the payment channels and bank cards of the three-party payment interface, the payment channels used by the iGaming payment industry are common payment channels like credit cards and debit cards (Debit Card). Even virtual currencies, which have become quite popular in recent years, have begun to become one of the payment channels in the iGaming payment industry. No matter what kind of payment channels the iGaming payment industry can provide in the Southeast Asian iGaming market, the most important thing is that the iGaming payment industry allows Southeast Asian iGaming players to use local currencies to recharge and withdraw money. There is no need to pay extra fees related to currency exchange, which is the most important thing for players in the Southeast Asian iGaming market.
Today's Southeast Asian iGaming market is still in a state of development, and the iGaming payment industry still has considerable room for development in the Southeast Asian iGaming market. In Southeast Asia, where technology and economy are growing rapidly, the three-party payment interface most commonly used in the iGaming payment industry is beginning to become popular in Southeast Asia and is used in daily life in Southeast Asia. The virtual currency that is popular around the world is more likely to be used in the iGaming payment industry in the future.
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