Even as more and more people shop, play and consume services online, an increasing number of fraudsters are also invading the Internet space and jeopardizing safe online payment processes. Therefore, it becomes imperative for businesses to beef up their online payment services and associated security. Adding features like “https protocol” and “3-D secure protocol” can help in this regard while on the other hand Payment Card Industry Security Standards Council (PCI SSC) has strict standards called PCI Data Security Standards implemented for merchants for online credit card transactions.
Online payment security plays a key role when it comes to online gaming that involves deposits and withdrawal of winnings, if any. The most important features are the ease of depositing, flexibility in online payments and most importantly, a 100% secure guarantee towards the same. Thus, there are a variety of methods offered for safe online payments that will be illustrated below:
Credit, Debit and Prepaid Cards
Credit and debit cards are the most popular methods of online payment and VISA, Mastercard are the most widely accepted cards available universally. Prepaid cards like PaySafe and Entropay are also used for online game deposits with PaySafe offering top up options at high street retailers and Entropay serving as a virtual prepaid Visa card and also a prepaid Mastercard with the flexibility of funding the account with a variety of Credit and Debit cards.
e-Wallets significantly help in improving payment experience by simplifying checkouts. Their efficiency can be experienced on mobile devices particularly where consumers experience swift payments without much input from their side. e-Wallets like Paypal, Neteller, Click2Pay are widely accepted as the safest payment methods the world over. For online gambling sites, also known as paypal casino sites, Paypal has turned out to be an upcoming fast and secure online payment service with acceptance all over the world.
For large deposits or withdrawals and other types of transactions, bank transfers serve as better methods for secure online payments. There are services like Wire Transfer, eCheck and Instadebit that help in the same. Also, there’s the upcoming “cryptopayment” method called Bitcoin. Although it is not popular in terms of mass acceptance but it has been termed as a very efficient method of online payment in the future.
An important area where frequent, large transactions happen in the online space is the gaming world. Thus many gaming sites especially betting sites, casinos are trying their very best to maintain their reputation among the players by delivering extra-secure payment methods. There are some sites that use Firewall, Audit Trails and Secure Socket Layer (SSL) for safeguarding players’ credit, debit card information and their personal details.
Thus, with the rise of smart hackers comes the rise of increasingly effective ways of guaranteeing safe and secure online payments for customers. It’ll be interesting to see how things pan out in the future in this regard.