Everything You Should Know About Poker Payment Systems And Global Poker Deposit And Withdrawal Methods

In 2018, the online poker market size was as large as $1 billion.

While the market is steadily growing, online poker services have reported an exponential increase in user activity as Europeans were staying home due to the government lockdowns to stop the spread of the COVID-19 outbreak in mid-March.

However, despite the industry's fast growth, online poker merchants struggle to keep up with the rising consumer demands.

The main reason why merchants are struggling with fulfilling user demands is due to the online poker payment systems they use to enable customers to deposit and withdraw funds from their accounts.

In this article, we will discuss what an online poker payment gateway is, the options it typically offers to customers, and how merchants can fulfil customer needs with an excellent payments solution.

What Is a Poker Payment Gateway?

A poker payment gateway or system is a solution that bridges the gap between the service provider and the customer.

With a poker payment system, the customer can deposit and withdraw funds from their online poker account by using a variety of payment methods.

Upon a successful transaction, the payment gateway transfers the customer's funds to the poker service provider.

However, as online poker is considered as a high-risk industry, service providers are struggling to find a decent payment gateway that offers a wide variety of payment methods for their customers at a cost-efficient price.

While the majority of payment systems reject online poker solutions due to their high-risk nature, other gateways that accept them as merchants are overcharging poker services.

Fortunately, there is a solution for all merchants that are looking to set up an account at a poker payment provider. Keep reading for more information.

Global Poker Deposit and Withdrawal Methods

Now that you know what a poker payment gateway is let's see what global poker payment methods you can use to deposit and withdraw your funds from your account.

• Credit and debit cards: Credit and debit cards are one of the most convenient methods to deposit funds from your online poker account as your balance is credited almost instantly.
• E-wallets: E-wallet solutions like STICPAY combine the benefits of traditional payment methods and digital poker payment systems. E-wallet services offer a wide range of benefits and fast-speed for users to fund their accounts and withdraw money.
• Cryptocurrency: Cryptocurrency is getting increasingly popular for online poker services as it offers fast and cost-efficient transactions for users.
• Bank transfers: While they can take a few days to complete, bank transfers are a popular and cost-efficient payment method to fund online poker accounts.

STICPAY Deposit Options

We mentioned earlier that we have the perfect solution for merchants to offer convenient payments for online poker services.

This solution is STICPAY, a London-based fintech company that operates an award-winning e-wallet service.

With STICPAY, licensed online poker merchants can easily set up a payment gateway with no extra costs for the service, offering their customers a fast, secure, and cost-efficient way to deposit and withdraw money from their accounts.

The e-wallet service offers a wide range of payment methods for online poker players to deposit and withdraw funds from their accounts, including:

• Credit and debit cards (Visa and MasterCard)
• UnionPay China
• Local and international bank wires
• Cryptocurrencies (Bitcoin, Ethereum, Litecoin, and Tether)
• The prepaid STIC Card (for withdrawals)

Poker Payment Systems in Southeast Asia

While regulations vary by country, Southeast Asia has been a very popular market for online poker players.

But, how could merchants set up an online poker payment system in Southeast Asia?

With STICPAY having a global presence in over 200 countries, licensed merchants can conveniently set up a poker payment gateway via the e-wallet service to offer fast and cost-efficient deposits and withdrawals and a wide variety of payment methods for their customers.

Have you liked us on Facebook yet? Are you following us on Twitter and Instagram? Join STICPAY on LinkedIn!