Poker on mobiles has gone through many ups and downs. From dropped connections to issues around player numbers and liquidity and a lack of product uniformity, the vertical has had its fair share of critics over the past few years. The rise of wi-fi, 3G and 4G networks however has been a boost for the sector along with the slow but happening regulation of the US market continues, even if that promise has yet to turn into real revenues.
Possibly even more so than on the internet, payments are the key to success for mobile gambling companies. In this extract from the Mobile Report she wrote for iGaming Business, Aideen Shortt provides an introduction to the payment options available to mgaming firms and looks at the size of an m-commerce market which looks likely to grow massively in the next few years.
Bill Gates is quoted as saying, “Banking is essential. Banks are not.” This has never been truer than it is currently when we consider the explosive growth of alternative payment mechanisms. WorldPay data shows that, today, alternative payment mechanisms account for €165 billion of global e-commerce transactions, representing 22% of total transactional value, and they are expected to enjoy a Compound Annual Growth Rate (CAGR) of 13% in the run up to 2015
Prepaid, direct debit, real-time bank transfer, there is no standard definition of an alternative payment is. For the purpose of this report, it is any non-card payment type but the alternatives to standard credit card payments are vast comprise a large variety of schemes.
Most online transactions take place without any fraud occuring but the perception of fraud is a hugely important concept in online payments. It remains a constant worry for consumers and merchants alike.
How do alternative and mobile payment methods stack up in terms of security against traditional payment methods? They are often pitched as a safer option than card transactions, but fraudsters are increasingly turning their attention to these methods.
From Everything Everywhere (T-Mobile and Orange) and Vodafone to the major US operators such as AT&T, Verizon and internet giants like Google or eBay-Paypal, the big mobile and web players are all preparing the field for m-payments.
Near Field Communications (NFC) are used in a wide range of settings (such as reloading your public transport card) and present obvious benefits for m-payments. iGaming Business's Payments Report provides the overview on NFC.
Payments are an integral part of the igaming experience and possibly even more so for the mobile gambling sector. Aideen Shortt gives an overview of the mobile payments industry, the issues to must to gain wider acceptance and how mobiles are perceived in different regions of the world.
A lot of hype surrounds everything related to mobile and payments are no different. iGaming Business runs through what mobile payments actually entail and the different platforms making headway at the moment.
The iGaming Super Show's Payment Solutions Summit covered withdrawal optimisation, virtual prepaid cards, local solutions, Visa MCC, STIP & MVV charges, multilateral interchange fees in the EU and managing risk, fraud and chargebacks.