Article

Ask the expert on gaming: Pay out fast to win player satisfaction

Alex Suckling | senior relationship manager, Gaming EMEA, Worldpay from FIS

November 23, 2020

Today, people expect rapid results. Whether they’re ordering a taxi, booking a restaurant online or communicating with friends, modern consumers have become accustomed to instant responses. The expectation for online gaming and wagering doesn’t appear to be any different, after a study completed by Worldpay. It was reported in 2018 that over a quarter of players said their betting app wasn’t fast enough, and 40% would rather place a bet using an app than a website because it’s quicker1.

Online gambling forums often feature players commenting on perceived slow withdrawal times. In the age of instant movement of money between friends, customers struggle to understand why it can take several days to receive their winnings. This delay might have negative impact on the user experience and might ultimately affect player retention, an important consideration for gaming operators.

After all, why would a player opt to play with an operator that makes them wait over 24 hours to retrieve their winnings, when they could choose the one that rewards them almost instantly? With 27% of players selecting their betting app based on how quickly they can receive their winnings1, it’s obvious that speed is in demand.

But, what’s in it for the operators?

Enabling quick disbursement doesn’t just benefit your players, it can alleviate pressure on your operations and save you time and costs.

Due to the long payment times associated with OCT payouts, players often request a withdrawal the moment they win. This kick-starts a long process for your Fraud & Risk teams, who may need to verify the payout, check the player’s ID, and more. During this review process, players may cancel the withdrawal request due to the long wait, so they can use the funds to place another bet 2.

Once your players become accustomed to instant payouts, they may not feel the need to hit the withdraw button so soon. As a result, the amount of pending withdrawals in the inbox of your F&R teams could reduce significantly, increasing efficiency for both you and your customers.

As overall player satisfaction may increase with fast payouts2, you may see a reduction in the number of queries and tickets received by your customer support function, as fewer players may be chasing their winnings.

Where Worldpay from FIS can help

Traditional payouts can take up to five business days to process, which can be perceived as too long.

FastAccess, powered by Worldpay from FIS, helps combat this problem. With simple, secure, real-time payments, Fast Access, which incorporates Visa Direct and Mastercard Send, can help to reduce the withdrawal time frame from three to five business days to within 30 minutes (two to three minutes in most cases) to the player’s card.

This means you may be able to offer payouts, meet market demand, and give yourself an advantage over competitors. Not only could this benefit your current player base, but you may use it as a marketing tool for encouraging new players to join, focusing on giving your players what they want.

We analyzed the performance of our largest gaming customers and found that those who use FastAccess have seen a decrease of up to 6% in declined transactions due to “insufficient funds”3. This is likely because player winnings are returned quicker, and customers have the ability to redeposit faster to place their next bet.

This helps to removes a point of friction in the player experience and helps reward gaming operators in efforts to enhancing their user journey.

If you’re interested in offering faster payouts to cards through FastAccess, get in touch with your relationship manager or Worldpay from FIS today to see if you are eligible for this service. To learn more, read here. (Availability subject to Worldpay Credit and Risk checks. With FastAccess payments, funds are remitted to the customer card after a request is properly submitted and confirmed by the player.)