Date: 27.11.2023

by Mateusz Mazur

“We consider payment solutions a key factor for entering new markets”: Anastasiia Sorokina on Tailoring Payment Solutions in iGaming

Dive into the world of iGaming with Anastasiia Sorokina, Head of Payments and PSP Partners Relations at Uplatform. Discover how the right payment solutions can boost market entry, compliance strategies, and the art of localizing content and payment options for enhanced customer engagement. Plus, get insights into Uplatform’s customer-centric approach that’s reshaping the online betting and casino industry.

How important is the role of payment solutions in Uplatform’s overall strategy for entering new markets with high potential?

In Uplatform, we consider payment solutions a key factor for entering new markets. Our dedicated team of fintech professionals ensures a smooth player checkout experience by tailoring payment methods to each market. Before venturing into new regions, we do thorough research on factors like preferred payment methods and transaction frequency. This careful approach significantly boosts high deposit conversion rates. However, beyond numbers, we focus on satisfying partners and clients with the best payment options for each region. We always ask, “What’s best for the users here?” and make it happen.

How does Uplatform handle compliance with local regulations while offering a wide array of over 500 payment solutions in complex markets?

Our large team of payment managers deals with these tasks daily, working closely with our partners in Payment Systems. This partnership is essential for staying informed about regulatory changes, enabling us to adapt quickly. This ensures we can continue offering a variety of payment methods for our partners and their customers, maintaining smooth operations in line with the ever-changing market regulations.

What strategies have proven most effective for integrating local payment methods into your platform?

Our approach is built upon three fundamental ‘pillars’: Firstly, a comprehensive competitive analysis; secondly, the committed efforts of our local teams; and thirdly, strong internal analytics within our platform.

How does Uplatform combine regionalized content and payment solutions to improve customer retention and acquisition?

In discussing the concept of localization, particularly its cultural significance in the iGaming industry, it is evident that this process comprises of various vital factors.

One of the most important factors is regional content customization. This involves adopting games, promotional activities, and communication to align with each geographic region’s cultural preferences and interests. Such tailoring ensures that the gaming experience deeply resonates with local players, creating a more engaging and relatable environment.

Localized payment options are another important factor. These are essential for facilitating transactions in ways that are both familiar and convenient for users in specific regions. This localization may extend to supporting local currencies, adopting preferred payment methods, and adhering to regional regulatory frameworks. However, one cannot overlook the importance of complying with local regulations. This consists of two main areas: content and financial operations.

Regarding content, adherence to regional iGaming laws is non-negotiable. It includes observing age restrictions, content limitations, as well as jurisdiction-specific regulatory requirements. Ensuring compliance in these areas is not just about you abiding by the law, it also fosters a responsible gaming environment.

Financial compliance is equally vital, particularly in payment processing. Different regions often have varied rules and standards governing online transactions. Payment solutions that are tailored to these local standards are essential for ensuring smooth, legally sound financial operations.

Could you elaborate on the significance of payment windows in iGaming and how Uplatform optimized these for user engagement?

The payment window is very important in iGaming. It influences user experience and efficiency. The payment window is a key part of our platform, and we have a team dedicated to enhancing user flow, convenience, and performance. Influenced by market trends, our regularly updated development roadmap ensures that our platform remains at the forefront of payment processing technology, providing a cutting-edge experience for our users.

In your opinion, what are the top three qualities of an effective payment solution for an online betting and casino platform like Uplatform?

Alright, let’s break it down a bit. In my view, there are three exceptional solutions to look out for. Firstly, there’s the convenience of providing a variety of payment methods. I mean, who doesn’t value having options when it comes to settling payments, right? It’s all about delivering the much-needed flexibility for your players.

Next is fraud prevention and regulatory compliance. No one wants their hard-earned money going down the drain because of some sketchy business. So, having strict measures in place to keep things on the straight and narrow is an absolute must. Swift transaction processing is also a top solution. Time is money, and nobody wants to waste it twiddling their thumbs while transactions crawl along. Quick processing is vital in today’s fast-paced environment.

Now, let’s shift focus and delve into additional factors. Beyond the three solutions I discussed earlier, it’s crucial to highlight the importance of a captivating UI/UX. Ensuring a user-friendly checkout interface is essential. Who wants to scratch their head and get all frustrated during the checkout process, right? The key is to make it smooth and hassle-free. And let’s not overlook the importance of supporting multiple currencies.

The world is incredibly diverse, and the goal is to meet the needs of customers all around the world. This involves being sensitive and accommodating to the needs of a wide-ranging player base.

How do fintech conferences boost Uplatform’s partnerships, and can you share a success story from one?

Fintech conferences are instrumental in fostering collaboration and partnership within the fintech industry. They serve as a meeting point for various stakeholders, including startups, established companies, and investors. These events offer valuable opportunities for networking, exchanging knowledge, and facilitating business deals.

It is challenging to highlight individual success stories as each conference consistently yields new leads and key partners. Also, the networking carried out during these meetings frequently results in substantial cost reductions, especially regarding payment system commissions. This shows the considerable influence of such conferences on the fintech landscape.

Finally, can you share a case study where Uplatform’s payment solutions have directly contributed to the growth and success of a client’s betting business?

The primary factor driving our stability and growth is our customer-centric approach, which includes timely support and consulting services. Our team of experts efficiently provides clients with comprehensive data for their specific geographical region of interest. This contains information about top payment methods, conversion rates, and regulatory details. Such support significantly enhances not only the direct payment conversion but also the crucial “registration-to-deposit” conversion, a key metric in the iGaming industry.

We are committed to continuous improvement of our payment services, believing firmly in the power of our tailored approach. By working diligently every day to enhance our offerings, we are confident that our personalized strategy will empower each client to reach new heights of success in the market.