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You certainly recognize the importance of a safe secure and robust payment processing system. But you may not know how online gambling payment processing really works. We’ve broken down this complicated process into several simple steps to help you become a payment expert in no time. Here’s a behind-the-scenes look at how it all works.

Step 1

It starts from the purchase phase. Once the shopper is ready to purchase, they click the Buy button on your sites, checkout page, and enter their payment information.

Step 2

During the casino payment processing purchase phase, it’s vital to provide a localized experience in order to prevent checkout abandonment in order to keep it going for an authorized payment gateway provider that checkout pages detect each shopper’s unique IP address and serve up the appropriate language and currency type.

casino payment

Step 3

Here are the routing and processing phases. The payments’ authorization request is routed from the payment gateway to an acquiring bank. The acquiring bank is a bank or financial institution that processes credit or debit card payments on your behalf and is licensed to settle funds for you. The merchant of the acquiring bank then sends the transaction details along to the issuing bank. In other words, the gamblers Bank for approval.

Step 4

In the approval phase, shoppers issuing banks are then faced with a question of whether to approve or not to approve this decision is made based on a number of factors such as funds availability, currency, mismatch transaction value, and more.

transactions

Step 5

Settlement and payout. During the settlement and payout phase, the issuing bank will send the funds to the acquiring bank the acquiring bank will provide a deposit based on the sales from a set of days, weeks, or months depending on your payout frequency.

Step 6

The final stage is reporting and reconciliation. Reconciling transactions with each individual bank you’ve worked with can be a time-consuming hassle but at last, you have got the online gambling payment solutions