Why gaming platforms need localised payment methods

The gaming world is booming, with players from every corner of the globe diving into immersive experiences. As this massive community grows, gaming platforms need to step up and meet the diverse needs of their players. One of the most effective ways to do this is by offering localised payment methods.

Localised payment methods are tailored to fit the preferences and infrastructure of specific regions. If your gaming platform supports payment options that players are comfortable with, it makes their experience smoother and your profits higher. In this article, we’ll explore why offering localised payment methods is a game-changer for your gaming business.

1. Regional preferences and trust

Let’s face it: Everyone has their go-to method when it comes to paying for in-game purchases or subscriptions. Whether it’s credit cards, bank transfers, or digital wallets, people prefer to use what they know best. 

For example, players in the Netherlands are likely to use iDEAL, while SOFORT is a popular choice in Germany. In Asia, players are more inclined to use mobile payment systems like Alipay or WeChat Pay, while in Latin America, options like OXXO or Boleto are often preferred.

Platforms build credibility and ease by offering payment methods that gamers already know and trust. Players are more likely to complete their purchases when they don’t have to worry about using an unfamiliar payment option. If a platform doesn’t offer local payment methods, players might hesitate, leading to missed sales.

Learn about top payment methods in the iGaming industry.

2. Currency compatibility and cross-border transactions

There’s nothing more frustrating than making a purchase in one currency only to find out you’re being charged extra fees for conversion. Offering payment methods that support local currencies is a huge win for gaming platforms. Players get to pay in their currency without the hassle of exchange rates or hidden fees. This creates a much smoother transaction process and boosts player satisfaction.

On top of that, cross-border payments can be tricky. Different countries have different regulations, fees, and processing times. Local payment solutions can help bypass these hurdles, ensuring players can make transactions quickly and easily, regardless of location.

3. Reducing payment friction and cart abandonment

Players who can’t use their preferred payment method or face unnecessary hurdles during checkout are 13% more likely to abandon their cart. By offering various localised payment options, gaming platforms can eliminate friction, making it easier for players to complete their purchases.

A quick, seamless checkout process is especially crucial for mobile gamers who expect speed and convenience. The less time it takes to pay, the more likely players will finish their transactions. Less friction means fewer abandoned carts and more completed sales, ultimately leading to higher revenue.

4. Regulatory compliance

Each country has its own rules for payment processing. These regulations can be complex, and platforms that fail to comply risk fines or legal issues. Local payment providers are experts in navigating the financial rules of their specific regions. They ensure that payments are processed securely and within the bounds of the law, giving gaming platforms peace of mind.

By working with these local providers, gaming platforms can avoid potential pitfalls and ensure they comply with the law in each market they serve.

Learn about payment regulations in Europe and Asia. 

5. Boosting revenue and expanding reach

The goal is ultimately to boost revenue and expand the player base. Localised payment methods play a significant role in this. By offering familiar payment options, platforms can tap into new markets and increase the number of transactions. Players are more likely to make purchases when they see that a platform supports their preferred methods, whether it’s a local bank transfer, mobile wallet, or alternative payment solution.

Localised payment options also allow gaming platforms to reach parts of the population with low levels of banking services. This is especially relevant if you plan to expand into emerging markets.

Integrate local methods easily with Payop

When it comes to providing smooth payment experiences worldwide, Payop is a trusted partner for iGaming platforms. With over 500 payment methods available, Payop enables gaming businesses to cater to various regional preferences, ensuring the maximum profit from the traffic at the checkout.

Key benefits for iGaming platforms:

• +500 methods & +100 currencies: This diversity ensures player satisfaction and global reach and reduces currency conversion costs. 
• High uptime: Reliable, continuous service to ensure payment processing runs smoothly at all times.
• User-friendly checkout: A simple, intuitive interface with tailored payment options based on user location and history, improving convenience and conversion rates.
• Single integration: There is no need for multiple contracts. You can connect all payment methods in one integration via API or technical integrators. 
• Fraud protection: Advanced security features to minimise chargebacks and fraud risks.

Boost your payment game. Contact our team at [email protected] to start the process.