Representative of Royal Pay About Online Acquiring Services for Gambling Operators and Prospects of Non-Cash Payment Market
A crucial stage towards the successful launch and development of online gambling business is the connection of payment systems allowing players to quickly and seamlessly conduct any money transactions. A financial solution provider, Royal Pay, becoming the Silver Sponsor of Ukrainian Gaming Week 2022, knows how to ensure the reliable processing of payments.
A brand representative told the exhibition team about available gambling operators and explained how to connect online acquiring with gambling websites. He also shared his opinion on the non-cash payment market situation in 2022 and revealed what important aspects should be taken into account in order to comply with the current legislation.
Interviewer: Ukrainian Gaming Week (UGW)
Respondent: representative of Royal Pay (R. P.)
UGW: What financial solutions does Royal Pay offer to gambling businesses?
R. P.: Royal Pay is a brand including a group of companies providing merchants with a wide range of services: from payment processing to financial solutions, as well as compliance services.
Payment processing is based on cutting-edge technological solutions successfully functioning in the CIS countries, Europe and Asia. We have a large number of integrations with banks and PSP, allowing us to provide gambling and betting operators with the best solutions.
UGW: On what terms does Royal Pay provide online acquiring services to gambling operators?
R. P.: Terms of cooperation with our company directly depend on customers’ needs. We have a broad range of methods and solutions where we can select the most appropriate one according to clients’ demands.
UGW: Let’s suppose that a businessman decides to launch his own online casino. What does he require to connect online acquiring? And how will this process be implemented?
R. P.: Our systems are designed in such a way so that clients can easily integrate them as soon as possible. Administrative panels are user-friendly to administrators, analysts and accounting officers. Even inexperienced users will understand its operating concept.
UGW: What should be considered while choosing a provider of online acquiring services?
R. P.: Key factors are provider’s reputation, reliability and payment security.
We provide our customers with a wide range of covering countries, beneficial rates and a flexible approach. Payment security is ensured by PCI DSS (Payment Card Industry Data Security Standard) standards, 3-D Secure technologies and our own anti-fraud system.
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UGW: What common problems can be faced during payment processing?
R. P.: There is no problem during payment processing on our side. Numerous integrations with payment methods allow us to build a cascade circuit ensuring seamless payment processing during potential problems on the side of a particular acquirer.
UGW: Cryptocurrency payments are quite popular today. How to connect digital currency payment with gambling or betting websites?
R. P.: There are a lot of services for accepting cryptocurrency payments via your own payment infrastructure. Clients register on websites of these services, pass KYC verification and, in case of positive output, can carry out cryptocurrency payments. Integrating with such services, merchants can provide customers with an extra balance refilling method.
UGW: According to your forecasts, how will the non-cash payment market develop in 2022?
R. P.: The whole world is facing global digital transformation enhanced by the pandemic. The financial party is also shifting to the electronic environment while the payment industry is experiencing the increasing demand for user-friendly ways of non-cash transactions.
By 2030, the number of non-cash transactions per capita will increase twofold or threefold. Financial market requirements cause transformations of business approaches and solutions. The rapid development of e-wallets and card infrastructures is a vector that one should focus on.
UGW: Royal Pay provides compliance services. Are there any difficulties while solving issues related to legal compliance in Ukraine?
R. P.: Over 5 years of successful operations in different jurisdictions, our group of companies has gained vast experience in compliance issues, anti-money laundering, anti-terrorism financing and prevention of mass destruction weapons financing, as well as sanctions legislation compliance.
We follow high international standards, allowing us not only to easily adapt to regulatory requirements of different countries but also to keep the compliance of bank-client relations.
Working with partners and credit organizations in Ukraine, it is obvious that the government compliance system is based on European norms and standards. We know them quite well and have faced almost no difficulties.
The key difference and the crucial matter are the compliance with the sanction regime and legislation, as monitoring of trade and economic sanctions and control over their application is one of the most complex areas of compliance.
UGW: Royal Pay will be the Silver Sponsor of Ukrainian Gaming Week 2022. What do you expect from the event?
R. P.: We are always open to new ideas and cooperation with new partners. We are going to establish new contacts and expand a range of collaboration at the exhibition.
To discover more about Royal Pay solutions and establish a constructive dialogue with company’s representatives, attend Ukrainian Gaming Week 2022 on March 23-24!