In a world of fast digitalization of everything from artificial intelligence to other smart technologies, the impact of smart payments is too huge. At the nascent stages of e-wallets in the late 1990s, it was believed that a safe pivot was taking place. This pivot represented what the future (at the time) had across a wide spectrum of industries.
In recent times, that future has materialized into a smooth alternative to traditional ways of making transactions. As a result, different industries, particularly the gambling industry, have come to adopt these alternatives which surfaced through PayPal. This was especially possible because no casino or sportsbook in New Zealand wanted to be left behind.
The New Zealand iGaming space has been altered to a notable degree by the sweeping effects of e-wallets. As is traditional to us, we take a quick dive into the overall impact of e-wallets on online casinos in New Zealand.
Why E-Wallets Over Others?
When making payments for a product online, the younger buyer usually faces the option of completing everything once or facing a little stress. Now imagine a situation where one’s money remains uncertain for days just for payment’s sake alone. It is a known fact that traditional banking payments systems would always remain relevant, but to what degree?
The question of the degree of payments is what e-wallets have leveraged since their creation, particularly seamless transactions. According to Statista, the global casinos and online gambling industry size reached $227 billion in 2020. Dissecting the statistics further, it was revealed that over 40% of payments were made via e-wallets.
Impacts of E-wallets on New Zealand online Gambling Landscape
The impacts of e-wallets are massive on New Zealand casinos, and they mostly revolve around the following points:
Convenient Transactions
The convenience of players is a top priority for CasinoDeps and other safe casino operators, regulatory authorities, and even gaming experts. It comes as little surprise that e-wallets were introduced to help complete transactions. The most popular e-wallets on New Zealand casinos like PayPal, Skrill, Neteller, EcoPayz, etc. don’t require any stress to access.
As a matter of fact, most times you don’t need to know your password, as they function with OTPs. So you don’t need to remember your card details, bank details, or upload proof of account ownership. You don’t even need to be physically present before an account is opened in your name.
From the walls of your room, you can process your payments and withdrawals at an online casino in New Zealand. This convenience is one reason why e-wallets have come to stay, with hopes of constant pivots.
Fast and Secure Transactions
Aside from convenience, the questions that most people usually ask with respect to transactions are: is it fast? Is it secure and protected?
These questions usually revolve around the fact that cyber theft of all sorts are proliferating in recent times. In order to avoid being conned or fleeced of their money and other delicate personal information, payments have to be secure. This issue of security, however, had not been taken as seriously as it deserved by many payment methods.
Thankfully, e-wallets came and utmost security came to fruition. Now, players don’t need to be too conscious of any cards, as everything is virtual or electronic.
Currently, e-wallets are the fastest and the most anonymous way of making withdrawals at online casinos, mostly taking less than 5 days. This comes in addition to ensuring all data relating to players’ transactions always remain protected at all cost.
B2B Solutions
Perhaps you thought e-wallets were only for players, right? Oftentimes casinos across a network of pooled or progressive jackpots, synchronized gaming networks, or content upload networks all use e-wallets. It suffices to mean that casino operators and developers all pay for various services via e-wallet platforms.
When settling such transactions, it becomes very convenient in most cases, to use an e-wallet payment platform or two. This is the case for many New Zealand and offshore operators.
Conclusion
Transactions for your gaming and casino needs don’t always have to be stressful or replete with uncertainties. At least e-wallets have made us understand the fact that we can process transactions in a fast-paced manner.
In keeping your details confidential, the goal has always been to remain unscathed by cyber theft, and e-wallets offer that security. Therefore, the future of payments across casinos is what e-wallets offer to us in a much more personalized/professional style.
