The world is moving ever closer to a cashless society, and the gambling industry is no different. The iGaming landscape is evolving into a digital-led payment world. So how do operators ensure they focus on the right things and leave no customer behind?
At the recent SBC Canadian Gaming Summit – our VP Product Marketing Jessica Marrs shared her expertise on the wide range of payment tech available and how it can be introduced to players in a way that includes loyalty, trust and retention. We decided to delve deeper into the subject and share more about how payment personalisation is key to player retention.
Many companies already offer a range of payment options, so what are the key considerations when bringing in another payment option without running the risk of overwhelming current customers or deterring new customers due to option overload?
‘You want to make sure – am I launching another payment method for the sake of having another payment method? Is it actually relevant to my players and their preferences?’
The introduction of a new payment method should begin with a deep understanding of existing data, player behaviours and preferences. Building a clear picture of how players choose to deposit and withdraw alongside their feedback helps to identify what they truly want.
AI can then be used to reduce the risk of overwhelming players with too many irrelevant options. By anticipating and introducing payment methods tailored to players’ preferences – by leveraging existing player data – it fosters a sense of personalisation and relevance. This ultimately leads to building a stronger connection that translates into lasting loyalty.
‘How do we recommend preferred payment methods to players? Showing them at the very top of their deposit flow/withdrawal flow journeys, aligned with the regulatory requirements around payments.’
Putting the player first is essential. Any new payment method should feel familiar and relevant, seamlessly fitting into existing deposit and withdrawal flows. Again, consider leveraging AI to personalise payment methods based on data insights. Tailoring payment methods to individual preferences strengthens player connection and satisfaction—ultimately driving trust, loyalty, and retention.
AI is already being applied across other areas of player gaming journeys, such as powering personalised casino lobbies that recommend games based on players past activity. So why not apply the same logic for payments too?
‘There’s a bunch of studies around how many payment methods is too many – how many is the sweet spot? I think a lot of that is just testing it out, because it is different with all your players with different demographics’
It might seem easy to offer a wide range of payment options and consider it done – but that approach rarely leads to success or player retention. To truly make an impact, you need to invest time to understand your players behaviours, preferences and needs and choose a platform partner who does the same. A prime example at Bede was our strategic implementation of Apple Pay – in partnership with our customers across their websites, to align with the high volume of players using iOS devices.
Stay ahead or be left behind.
As the digital-led payment landscape continues to evolve it’s crucial to proactively adapt payment offerings to meet emerging player needs. By combining deep player insight with forward-thinking technology and partnering with a platform that shares this vision means you won’t just excel in the market, you will lead it.
