Rio Broadfoot, Head of Gaming at Trust Payments, provides insight into how those who offer a wide range of alternative payment methods can win gamer loyalty and can come out on top.
1. Could you introduce yourself to our readers? Who are you and what do you do?
I am the Gaming Vertical Director at Trust Payments and have been with the company for the last 4 and a half years. I manage the European Gaming Sales and Account Management divisions within the business and have been in payments for the past 10 years, specialising in gaming for the last five.
I work with Trust Payments helping Gaming Operators optimise their sales and customer experience through speedy and seamless payments, loyalty, and data management. This creates truly Converged Commerce by connecting multichannel data from customers and interactions to deliver memorable, personalised and consistent customer experiences.
2. How does a smooth and trusted payment process offering a wide variety of services help gamers control their budgets?
It is crucial to ensure your players get the experience they deserve at checkout with a smooth and trusted payment process that includes instant deposits, withdrawals, and subscriptions.
By offering relationships and integrations with various relevant service providers and platforms such as Visa Verify, Mastercard Ethoca, and Chargebacks911, gamers can pay on their terms and help control their budgets.
Open Banking has become increasingly popular over the years. As a result, push payments have rapidly grown, and customers no longer need to share sensitive card information. In addition, gaming customers today prefer simple, quick, and personalised experiences.
3. Does the offering of different payment methods really become an order-winning criterion? Is it such an important aspect for gamers when choosing the gaming platform?
Absolutely. As the gaming industry is characterised by a constant cash flow spread across different time zones and regions, it is a significant benefit for companies and their customers to withdraw money using a convenient method.
4. Can in-app purchases elevate playing experience? Aren’t they regarded by players as another form of making them pay more money?
Yes. Mobile players spend more money more often, and the merchants who will profit the most from these trends are the ones that optimise their monetisation techniques. As the most downloaded games in 2021 were free to play (F2P), finding a payment gateway that supports in-app purchases and rewarded ads should be a priority for mobile game developers.
5. How does Trust Payments help iGaming providers achieve higher gamer loyalty?
Using the online experience Trust Payments has for payout methods and the SmartPOS technology available today for paying, we can facilitate a cashless experience using these tried and tested online forms in a brick-and-mortar Operator. Furthermore, with the advancement of tokenisation, we can automate the payout using technologies like Visa Direct to enable immediate withdrawal of funds, similar to receiving cash at a booth, event, or high street bookies.
Payment companies are focusing on new innovative technology to assist the transition to cashless gaming, like prepaid cards, loyalty points and wallet top-up systems. These are now all accessible from a mobile device, delivering ultra convenience for players.
6. Anything to add…?
The industry’s evolution now largely depends on regulators and developing payment models as needs change. With this, I am intrigued to see what the future holds for gaming, as innovative payment methods are widely accepted. It will be interesting to see the benefits in action. A secure, fast, and trustworthy pay channel will answer growing gamer demands and provide a pleasant experience when playing.