International payment service provider ECOMMPAY is helping operators to navigate the highest profile events for sports betting through routing and cascading, two payment features designed to reduce the pressure of high volumes.
Paul Marcantonio, Head of UK/Western Europe for ECOMMPAY, explained to SBC News how both features, already “busting the proverbial dams in the payment stream”, have lent an invaluable hand to “some of the largest sports betting operators in Europe”.
Let’s start with a simple working description of routing. Routing is a technological solution that analyses transaction variables to determine the most cost-effective merchant identification number (MID) and increase the likelihood of facilitating a successful payment. The analysed variables are configured individually per client to account for audience specifications.
So, what’s the benefit? Routing transactions via specific channels can decrease the cost of facilitating a successful transaction. For example, when a player makes a deposit in EUR, the payment is routed to a MID in EUR rather than GBP, thus avoiding the dreaded spectre of double conversion.
Processing a payment from a local customer in a local currency by a local acquirer is cheaper for all parties involved, as well as more likely to ‘convert’ for the operator through successful payment.
This works similarly for other variables, such as device type. If a player uses a mobile phone to pay, the transaction must be routed to a corresponding mobile MID.
GATE2025, a processing platform launched by ECOMMPAY earlier this year, applies the technology to automatically assess these payment variables – including more than 20 filters such as currency, country, device, payment method, and transaction amount, to route the transaction to the channel most likely to successfully process the payment.
Moving swiftly on to cascading, a solution which ‘steps up’ (metaphorically) if one channel is not able to conduct a payout through cascading it to another.
Originally perfected to support ‘business continuity and player satisfaction’, you can imagine how important it is for an operator to support a high volume of payout requests during a Gold Cup at Cheltenham, Grand National at Aintree or Champions League final.
If one provider can’t cope with the high volume – eminently possible during high pressure events such as these, or struggles to process a payout for any other reason, the system automatically cascades the payout request to another so that the player still receives the requested funds.
Not only does cascading ease the pressure on high volume channels, it also ensures players receive their funds as soon as they request them. Enabling timely payouts encourages repeat transactions, thereby increasing overall turnover and operator revenues. Simultaneously, this service nurtures greater player satisfaction and positively impacts brand reputation.
The routing and cascading technologies are underpinned by a dedicated team of regional experts spanning offices in the UK, Latvia, Mauritius, Russia, Belarus, Singapore and Cyprus. Its specifics can be finely-tuned to match the exact requirements for a sport betting operator.
These requirements can define the routes that are chosen for your transactions according to filter settings, cascading capabilities and payment percentage split between client accounts.
For sports betting operators looking to improve efficiencies, but remain confused about processing payments through the appropriate channels, ECOMMPAY’s team of payment experts is happy to help. We will be exhibiting at this week’s SiGMA at stand S169 or, alternatively, you can catch us at ICE Totally Gaming in February 2019.