Final word: Understanding the changing payments ecosystem

With alternative payment methods on the rise, where do prepaid vouchers like Neosurf fit into the evolving iGaming payments landscape?

While prepaid vouchers are a key component, we are not solely a voucher company, nor do we offer anonymous transactions. Every Neosurf transaction is traceable and our digital wallets deliver a smart and easy way for players to deposit and receive payouts. Our position has always been to think about the player and their needs and then match that to the needs of the operator, which includes supporting their best interests by offering alternative payment methods. With so many digital wallets out there we don’t claim to be biggest, but we do claim to address the cash users that still form a huge part of the payments ecosystem. 

What challenges do iGaming operators face when integrating new payments solutions in these regions, and how does Neosurf help navigate regulatory complexities?

Our API is a simple tool to integrate with, so payment service providers and operators can get up and running with us very quickly while also being supported throughout the onboarding process. The support we offer is well known within the industry and our account managers are always there to assist with smart classification of players, be they cash users or those wanting to use a dedicated digital wallet. We take accountability and responsibility for our role and once an operator integrates with us, they can see the difference and know we won’t let them down.

 How does Neosurf ensure AML and KYC compliance across multiple jurisdictions while maintaining a frictionless payment experience?

This largely comes down to configurations. We use something called a “single source of truth” internally – which brings our policies and procedures into one common path for maintaining data scrutiny – and then customise this output for the operator based on jurisdictional requirements. Our fraud team uses advanced AI to make spotting complex patterns simple and, as a result, we’re able to provide clients with incredibly detailed insights very quickly. We also work with the best local compliance teams in different jurisdictions so that our offering is tailored for each market.

What emerging trends – such as open banking, crypto or biometric authentication – do you see shaping the future of iGaming payments, and how is Neosurf adapting?

Crypto is obviously not going to go away and, as a payments company, we have to be very careful that we’re not giving people a platform to take their cash, turn it into crypto and spend it without any kind of control. Biometric authentication, meanwhile, is something we have to have, but the emergence of deep fake AI means sometimes fraudsters can be one step ahead of us. With this in mind, we take a cautious approach to both and try to work with partners who can help us stay ahead of the game, by constantly upgrading their offering so that we’re not always re-integrating.

Is there a particular area or type of iGaming offering in which you can see a sharper rise in demand for alternative, non-fiat, payments?

The online gambling sector is still at the early stages of a transformation, particularly in how non-fiat payments are being adopted within online casinos and esports betting. At Neosurf, we work directly in the gaming space with our Digital Cash by Neosurf product. Non-fiat payment options – particularly cryptocurrencies – are increasingly appealing, and, interestingly, digital wallets are now also being grouped into this category.

While it is surprising to see digital wallets categorised this way, let’s go with it

After all, a digital wallet can support both fiat and non-fiat transactions, empowering players with the freedom to choose. Moreover, the integration of blockchain technology within gambling platforms introduces a new level of transparency and trust – critical factors for building and maintaining player confidence.

What do you believe is the best way for payments providers to ensure continuous, industry-wide advancement in alternative payments security for customers?

We live by the statement: “Imagine a payments company that does something different.” We believe the entire payments industry should evolve with this mindset. Last September, we launched The Compliance Handshake by Neosurf – an initiative designed to encourage collaboration among payments companies. My personal passion lies in seeing payments providers truly integrate into the sectors they serve. In gambling, this means providing players with tools that support responsible spending, and collaborating with operators to meet increasingly complex regulatory requirements. If a payments company wants to stay relevant and grow in this sector, it must consider why it’s here – and then deliver accordingly. This means working closely with both players and operators, across all jurisdictions, to provide value, transparency and security. That’s how we can collectively drive meaningful, secure and sustainable advancement in alternative payments.

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