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Operators and Users Rejoice: A Cross-Border Payment Revolution Is On Its Way!
We live in an increasingly globalized world, where geographic borders are becoming less of a barrier. Nowhere is this more apparent than in online gambling, which has seen tremendous growth over the years as technology allows players based in the most remote of locations to win big without ever leaving.
The globalized nature of online gambling activities, however, has forced casino operators to contend with the tricky issue of making financial transactions across different jurisdictions. Thankfully, payment providers have come to the table in terms of providing casino operators with cross border payment options. And Astropay is the latest offering in the cross-border payment revolution that is looking to take things to the next level.
Cross-Border Payments In The Online Gambling Sector
While the business opportunities presented within the online gambling space are tremendous, it remains are highly saturated industry where operators need to work tirelessly to set themselves apart from the competition by finding ways of attracting customers. One way is to through having a range of cross border payment methods that allow them to circumvent some of the bureaucracy and appeal to more people.
Additionally, cross-border payments will allow players to interact with an operator irrespective of jurisdiction - anywhere around the world!
Such transactions have increased in the online gambling sector because there’s a demand for them. Therefore, payment providers such as AstroPay are taking the industry by storm thanks to their innovative services.
No doubt, more customers will be attracted through better payment options, and this is a welcome advancement that not only online casinos can boast of but also they trusted no deposit bonus partners like NoDeposit.Guide. Many tend to forget players also gain access to sites like this, where they are provided with a library of information, which in turn, allows them to make an educated decisions. And, of course, when it comes to payment methods available, it is no doubt a crucial part of the entire gambling process.
Difficulties Casino Operators Have Faced
While global business opportunities are exciting, expanding into new markets isn’t always easy. One area that casino operators and global corporations have struggled with is cross-border payments. Four ongoing challenges they’ve faced over the past decade or so center around high costs, slow transactions, poor transparency and limited access.
As a result of the challenges, governments across the world have taken on the challenge of facilitating global payments by addressing these issues at a macro level. For instance, in 2020, the G20 prioritized improving and enhancing cross-border payments, and the Financial Stability Board (FSB) called for a coordinated response from key international players such as banks, financial institutions and relevant companies. These organizations are required to start adapting their processes to make cross-border transactions more efficient. However, it is Astropay has taken the lead in this mission with its product solutions.
AstroPay’s Approach to Issues Related to Cross Border Transactions
This isn’t AstroPay’s first rodeo, as it has already streamlined the cross-border payment process by allowing users to make international transactions without using a credit card. Understanding their user needs has always been central to AstroPay’s approach to enhancing their cross border offering.
Sara Rita, Chief Commercial Officer at AstroPay, highlighted how the company had launched a Visa card that can be generated directly from the AstroPay mobile app and used anywhere in the world where Visa is accepted. Other features are being continuously developed and added to AstroPay’s wallet. For instance, they recently offered users the option of having multiple currency accounts.
AstroPay has also always made an effort to work closely with merchants with regard to acquisition, retention and stimulation efforts. Now, these merchants can tap into a user base of several million clients who regularly opt to use their services to make financial transactions online.
Looking To The Future
Cross border payments have come a long way since AstroPay first came onto the scene about a decade ago. From a landscape featuring high barriers to entry and fragmentation between markets, some may say little has really changed.
However, this firm clearly knows how to bring the priorities of the user and the merchant together to create simplified solutions that can be easily replicated in multiple jurisdictions. Since its inception in Latin America, it has expanded its presence to serve multiple markets across the globe. And this growth doesn’t look like it’s waning.
A notable development is their recent partnership with the Wolves football club in the UK, which is expected will increase the company’s visibility within the UK market. Furthermore, it is also expanding operations in Africa, Asia, and Latin America with an eye on Australia too. Their expansion into these territories will serve their merchants, especially gambling operators, very well in terms of allowing them to scale their operations globally.
It is clear that AstroPay is revolutionizing the world of cross-border payments, and any casino operator looking to take over the world needs to get on this train if they aren’t on board already!
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