Apple Pay Making Its Mark in Virtual Casinos
Posted by Harry Kane on Wednesday, August 9, 2017
Whisper it quietly, but there is a revolution unfolding in the online casino market.
This relates to the way in which players debit their virtual accounts, with mobile payment options such as Apple Pay and digital currencies like Bitcoin becoming increasingly dominant. In fact, the 888casino recently became the latest operator to adopt Apple Pay as method of depositing and withdrawing funds, with UK customers the first to benefit from this option.
In this article, we ask what benefits this offers to players, and how flexible payment options like Apple Pay will continue to change the market in the future.
Optimising Safety and Privacy: Apple Pay and the New Wave of Payment Methods
Its integration with a host of online casino platforms has capped a stellar 18 months for Apple Pay, which saw its usage grow by 50% during 2016. This was largely thanks to the decision of retailers to lift the £30 limit on single transactions completed through iOS, while the adoption of Apple Pay by leading casino operators in the UK has also created a new and potentially lucrative revenue stream.
Like Bitcoin, however, Apple Pay certainly boasts a natural affinity with virtual casinos and offers a number advantages to online players. It’s convenience is the most obvious benefit, of course, as players can make instant withdrawals or deposits simply by using their smartphone, iPad or smart watch. This is also a highly efficient method of completing payments, both in terms of the time taken to process a transaction and the underlying level of security.
Security is certainly an important consideration, and something that Apple Pay was designed to optimise. The platform uses credit or debit card data that is automatically stored on the user’s device, and this means that transactions can be processed without the need to share sensitive financial information with third-parties. This minimises the risk of such data being compromised and makes it harder for criminals to undertake activities such as cyber crime and identity theft.
There is also the issue of privacy, as this is something that has remained a bone of contention of online players for years. Payment methods like Apple Pay and Bitcoin support your anonymity as an individual, however, with the former refusing to store your purchase history anywhere outside of the last few transactions that are included within wallet for convenience. This small but significant feature enables players to pursue their passion in private and with genuine peace of mind, which is increasingly important as the demographics that gamble online become increasingly diverse.
Will Apple Pay and Bitcoin Become the Dominant Payment Methods?
While there are obvious differences between Apple Pay and Bitcoin, they remain at the forefront of a new wave of payment methods that are accessible through online casino platforms. Flexible, secure and anonymous in equal measure, they have now been adopted by the majority of online casino operators in the UK and will become increasingly dominant in the years to come.
In fact, we may eventually reach a point in time where casino operators discard credit and debit card payment options, while using mobile solutions, Bitcoin and e-wallets to enable players to manage their accounts online.