Why is PayCly the Best Payment Gateway in Singapore for Online Casinos?
Gambling has been a main source of entertainment since the dawn of civilization. But in the modern era, humans do not lack options for entertainment. Still, gambling is one of the preferred entertainment activities for humans. This is why, online casinos (the modern form of gambling points) are estimated to reach US $ 95.05 billion in 2023, and this number could be more enormous, as the number of online players is expected to be 233.70 million by 2027, per Statista. Despite the worldwide growth of online gambling activities, there are some regions or countries, that are known for their casino tourism, and Singapore is one of them. Singapore is the third-biggest online casino market in the world, according to the Global Data report. Considering the potential of the Singaporean casino industry, a merchant needs the best payment gateway Singapore to get the most out of it.
Because the online casino is a business that runs on cashless payments, it has an overdependence on payment gateways. This is the reason why, in this blog, we are exploring the best payment gateway Singapore for the online casino business. So that you can take advantage of it and propel your online casino business to its maximum potential.
Why is PayCly Considered the Perfect Payment Gateway Singapore for Casino Payment Processing?
Due to High-Risk Industry Expertise
Online casino gambling is considered a high-risk business due to the industry’s inherent risks, such as increased chargebacks, excessive transaction volume, and payment-related fraud. But with PayCly, these factors can’t affect the business of a casino merchant, as it provides one of the most secure online payment solutions in Singapore, with security measures like fraud prevention and detection tools, PCI DSS compliance, and encryption technology for providing safe payment-related details to banks.
Because of Regulatory Compliance
Singapore has strict regulations governing online gambling and casino operations, which makes it a little bit difficult for online casino merchants to operate businesses in the country. But with PayCly as your payment gateway Singapore, as a casino merchant, you can operate a business in the country without worrying about the legality and industry-related regulations. PayCly is compliant with all relevant regulations and possesses the necessary licenses to operate legally in Singapore.
For Providing Secure Transactions
Online casino platforms collect sensitive financial information from their customers, making security a top priority. Therefore, for a casino payment gateway, it becomes necessary to offer robust security measures, including encryption, tokenization, and fraud prevention, to ensure safe transactions. And this is exactly what PayCly does, as it provides 3D secure transactions with the tokenization method to assure the data security of the players while making payments.
Due to the Global Payment Support
The online casino business needs a payment gateway Singapore that can support a wide range of payment methods and currencies and can help it attract and retain international customers by providing a seamless transaction experience. And PayCly is aware of this, this is why it provides global payment support to online casino merchants, in which it provides more than 100 currencies with numerous payment methods, including the major local payment options of 150 countries where it provides its services.
For Chargeback Management and Risk Mitigation
Online casinos are the most vulnerable industry from the perspective of payment-related fraud. According to a published report in 2021, the victims of online payment fraud lost $ 11.6 billion at the hands of scammers in Singapore. Considering this fact, PayCly provides one of the best fraud prevention systems with fraud detection tools consisting of AI and machine learning. To predict and identify any unauthorized activity on the payment platform. It also provides a chargeback management system that helps merchants reduce the number of friendly frauds by handling chargeback disputes.
Because of the High-Risk Merchant Account Instant Approval
PayCly is a renowned payment gateway Singapore but with that, it also provides merchant accounts for high-risk businesses, so merchants do not have to face difficulties getting a high-risk merchant account. Because high-risk business accounts usually take a few business days to get approved. However, this is not the case with PayCly, as it can provide high-risk merchant accounts instant approval, due to its industry-related expertise and experience.
Final Words
If you go through need of an online casino payment gateway for seamless payment processing then you realize that it requires the exact features that are provided by PayCly. Such as chargeback management and fraud prevention tools, data security, regulatory compliance, multi-currency support, and various payment options. And the thing that distinguishes PayCly from other casino payment gateways in Singapore is that it offers payment processing services at one of the most competitive prices in the country with a transparent fee structure. Due to all of these factors, PayCly is considered the best payment gateway Singapore for the online casino business.
