Have you noticed the change in payment options in online casinos? It is one area that has advanced much in recent years.
Indeed, that is probably because there were several pain points in payment processing earlier. Today, all licensed websites offer secure and encrypted payment gateways. Every country’s unique payment systems are incorporated into the casino sites. One such new convenience is QR code-based payment.
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What Is QR Code Payment?
This technology is familiar but is gaining popularity, including virtual payment options. QR codes are barcodes that include information in the form of pixels. Users usually scan QR codes via their smartphones. Users can then access relevant information via the codes, especially for payments.
This technology was created by Denso Wave, a Japanese company, in the nineties. It particularly helped to track barcodes. At that time, it found little use in retail or for end customers.
Today, however, QR codes are used in different ways. Customers can scan a QR code and process payments seamlessly. It also offers the advantage of adding brand information to customers. That is, customers get to see the brand logo and other details when they scan the QR code of a company or service. QR codes also include links to company social media posts.
If you are wondering what all this has to do with online casino payments, this is a new payment method that many casino sites include. It helps the customers to process their payments quickly. That is especially true for deposits. Customers can process payments to their casino accounts. However, the option needs to be present on the website as well.
How QR Code Payments Work?
Processing casino payments via QR codes varies in different countries. For instance, you might not find it common among the new online casinos in Australia. However, it is already making waves in Indonesian casino websites. It especially helps customers to make payments via their smartphones.
Steps to make payments in online casinos via QR codes are the following:
- To pay via a QR code, all one needs to do is have a smartphone with a camera; most online payment apps also have a QR code scanner.
- When a casino offers a QR code-based payment option, one must direct their payment app to the code.
- Once their device scans the code, the payment app downloads the necessary information; for instance, casinos will provide their bank account information on such principles.
- Once the payment app processes the bank account and related information, a customer can pay.
- Once customers choose the amount they wish to deposit, they can confirm the transaction.
- Payments are processed within minutes; transaction details remain on the customer's payment app.
Hence, with a QR code payment method customers can process payments instantly for their casino accounts. Common and popular payment apps are Google and Apple Pay. These mobile payment vendors provide safe, convenient and secure transactions for the customers.
Casino sites, once they receive the payment, will reflect the deposit amount in the customer account. Customers can check their account information on mobile web browsers, apps, or desktop versions.
Advantages of QR Code-Based Payments for Online Gamblers
There are several advantages that this payment option will provide:
- Gamblers can pay on the go; they need not register a bank account or fill in such details. They can open the code and scan it with their smartphone app.
- It is possible to make payments on mobile devices as well. The code can be saved as an image and used on the payment app. Hence, gamblers can use the QR code even when playing on mobile devices. Scanning QR codes on desktop versions of casino domains is also easy.
- Security is enhanced in such an option. Customers need not divulge payment details on the site interface. A separate app securely processes all payments. Also, customers will find details of their charges saved on the app.
Limitations of QR-Based Payments
QR-based payment technology continues to advance, but limitations persist for QR code payments. Ongoing evolution prompts adaptation to address challenges, ensuring seamless integration and widespread acceptance in the ever-changing digital payment landscape:
- There is a daily payment limit with such apps. For instance, RMB currency limits payments to 500 via bar codes.
- QR codes can receive payments from the same vendor one time within 24 hours.
- Credit card issuers are yet to offer integrated payments using QR codes; this is still the norm in most QR code platforms today.
Hence, casinos with such a payment option must consider these limitations.
What Do Casinos Need to Do?
Online casino merchants must have the necessary setup in place for QR code payments to work. All countries have varying legal and compliance structures. Hence, casino websites have to work accordingly. A casino site can offer this payment mode only if a country has the necessary allowances; it also needs to be accessible and available for customers in some regions. There are legal compliance requirements for licensing bodies. Hence, a casino website needs to look into all such matters. Countries promoting online QR code payments are sure to have casinos that also have such an option.