Betting Operators Need A Pay By Bank Solution This NFL Season
As the 2024–25 NFL season approaches, the Taylor Swift references will return and so will players wanting to make bets on the games. This means betting operators in Canadian provinces such as Ontario will be gearing up for one of the busiest times of the year. To stay competitive and meet the demands of their customers, sports betting operators will need to offer payment options that are fast, secure, and user-friendly. Among the various payment methods available, pay by bank solutions stand out as essential for betting operators during this high-stakes season. Here’s why:
1. Speed and Efficiency
The NFL season generates a significant amount of betting activity, often with users placing bets right up until kickoff or even during the game. Last year’s Super Bowl is a great example of how much players are interested in betting on NFL games. Pay by bank solutions, such as INTERAC®, provide instant transactions, ensuring that funds are transferred immediately between the player’s bank account and the betting platform. This speed is critical for operators, as it allows them to quickly process deposits and withdrawals, keeping players engaged.
2. Enhanced Security
Security is a top priority for both players and operators. Pay by bank solutions providers such as Paramount Commerce integrate machine learning technology into their risk management platform. This approach ensures that fraudulent activities are quickly identified and mitigated, providing a secure environment for the high volume of transactions expected during the NFL season. Additionally, since transactions are conducted directly between the player’s bank and the betting platform, there is no need to store sensitive card information, reducing the risk of fraud and chargebacks. This added layer of security helps build trust with users, encouraging more frequent and larger transactions.
3. Reliability
Credit card acceptance rates in Canada’s gaming industry are relatively low, and additional cash advance fees can be a frustration for users. Pay by bank solutions, such as INTERAC® and Instant Bank Transfer, overcome these challenges by offering smooth transactions without the risk of rejections or extra charges. With strong banking connections in Canada, users can easily fund their gaming accounts or withdraw winnings directly from their bank accounts.
4. User-Friendly Experience
Players want a simple payment experience when placing their wagers. Paramount Commerce’s pay by bank solutions are designed with user-friendliness in mind, allowing players to make quick and easy transactions. This simplicity is especially important during the NFL season, when players want to focus on the action rather than navigating through a bad payment experience.
5. Merchant Benefits in Ontario
For Ontario merchants, adopting pay by bank solutions offers significant advantages. Paramount Commerce’s solutions are fully compliant with regulatory requirements, providing crucial features such as bank account ownership verification and consumer location services to ensure adherence to provincial regulations.
6. Partnerships
Paramount Commerce has established strong relationships with multiple Tier 1 banks. These connections ensure that even if one bank encounters an issue, we can seamlessly switch to another, providing uninterrupted service. This reliability is crucial during the NFL season, where customers need to place real-time wagers without delays. Our robust banking partnerships are the cornerstone of a seamless user experience, enabling us to consistently meet and exceed consumer expectations.
As betting operators prepare for the NFL season, offering pay by bank solutions is no longer just an option—it’s a necessity. The speed, security, and user-friendly nature of pay by bank methods make them an essential tool for operators looking to maximise their success during one of the busiest sporting periods of the year. By integrating pay by bank solutions into their platforms, operators can ensure they are well-positioned to meet the demands of their customers and capitalize on the excitement of the NFL season.
