Online payment solutions: The good, bad, and ugly
We’ve explored online payment solutions a lot here at CasinoAffiliatePrograms.com. Why? Because it’s a topic extremely close to gaming affiliates’ hearts — and, more importantly, to their wallets.
After all, to make money from your affiliate program partners, you have to be able to get payments transferred from them to you. And that’s where online payment solutions come in.
But not all online payment solutions are created equal. Sometimes, it even seems like there are almost as many payment processors and solutions as there are casino affiliate programs to choose from.
Making things even more complicated are the various national laws affiliates must deal with. Many of the payment solutions that work in the UK and EU, for example, won’t work in the United States. That’s because the U.S. law targeting online gambling, the UIGEA, works by restricting payment processing, not internet gambling itself.
So, how can gaming affiliates know what payment solution to choose? What works, and what’s more likely to leave you high and dry? Here’s a quick look at the good, the bad, and the ugly of online payment solutions.
Where it’s allowed, direct bank and wire transfer and credit cards (specifically Visa and MasterCard) are the best solutions for online payment processing. In Europe and the UK, it’s easy to use these options. In the U.S., it generally isn’t, thanks again to the UIGEA.
Intercash and Ukash are leading the way for affiliates by offering the next best thing. These companies have entered into special arrangements with MasterCard to deliver payment solutions that are easy, almost instantaneous, and trustworthy for affiliates.
PayPal and NETeller (the “largest independent online money transfer business in the world”) can also be found at the top of the list of most reliable ways to move cash online.
But no option is available in every nation, for every program — NETeller and PayPal won’t work for U.S. online gambling affiliates. Check with your operator first to make sure your payment solution of choice is compatible with the programs you promote.
We’re not gonna name names here, and that’s just as well — it’s not necessary. Because it’s easy to spot a bad payment processor when you see one. Just answer these simple questions:
• Is the payment processor widely accepted?
• Has it been doing business for a while?
• Is it supported by a secure system? Any processor you use should be, such as NETeller’s security page or PayPal’s Purchase Protection.
• Does the payment solution enjoy positive word-of-mouth throughout the internet? A quick Google search can help you figure this out pretty fast.
If you’re an affiliate, this is the last message you want to see: “Please be advised that there was an issue with your recent withdrawal request, which has not been processed by the US bank.”
Like eWalletXpress before it, QuickTender crashed and burned in recent weeks, leaving a lot of affiliates high and dry with no way to access their payments, at least for a while.
But how could affiliates tell before the shut down that the company may not be healthy? That’s tougher than it looks, and U.S. affiliates certainly have a rougher time of it than European affiliates, who have access to PayPal and NETeller. Again, the questions listed above should clue you in on whether a payment solution is here to stay or just a flash in the pan.
What online payment solutions make your own list of good, bad, and ugly? Which do you rely on, and which do you avoid like the plague? Sound off in the comments and let us know your experiences.