Last weekend I was fortunate to share a table in the panel means of payment for Latin America within the gaming event Spain 2010 IGB. To be a topic on everyone's lips with great interest and importance in the strategies of all operators, it was almost impossible to discuss and deepen what I would have liked.
Therefore, today's post to try to summarize very briefly some points and others that were spoken by commenting:
- " Latam is a market of 600 million users, where there are very diverse economies, of which Brazil and Mexico highlight the one hand and Argentina, Chile, Colombia and Peru on the other side as two blocks. The internet penetration rate is moving very quickly in these countries, and giants such as Google have been in this market one of his pearls growth rate.
- Building trust is the key and payment methods have become a cornerstone to acquire and retain customers. Offering traditional payment solutions such as cards, is no longer sufficient, but the operator must meet the needs of a given market. A good solution is to reach key agreements with local suppliers as DineroMail and collection agencies (Cobroexpress, EasyPay ...), where people see something attractive and reliable for a deposit.
- alternative means of payment are key in Latam because the percentage of people who have a credit card is still low. Moreover, the alternative payment solutions are ideal for combating the problem of gaming code 7995.
- solutions should be offered cash through the extensive network of collection agencies (CobroExpress, Pago Facil, Rapipago ...) but should be open to alternative solutions to launch through reputable affiliate channel, whether independent or single source of payment.
- 82% of households in Latam have a mobile phone, which is nearly double the penetration that have banking accounts. As emerging economies, mainly Brazil and Mexico, the debit and credit cards are gaining market share and use. The credit is still scarce, but are booming and debit cards have a lot of potential if it comes to marketing agreements key. The prepaid market in this aspect I think will go a long way. In general, the governments of these countries are encouraging card purchases by offering discounts including VAT and others.
- To make the payment experience is simple, payment providers must keep innovating and improving their products to the customer Latam make your gaming experience payment as quick, safe and easy as possible, and here phones can give a lot of game, such agreements between collection agencies (Rapipago ...) and actors like Paypal DineroMail and others. These agreements are key to inter alia provide that payment be online and not only through the widespread use collection agencies and offline (cobroexpress, Rapipago ...)
- n U merchant must establish several KPIs, such as registration, first deposit and the first bet. Must track and measure user behavior and to investigate and analyze your portfolio Payments. Must consider what solution works and what does not and why, to design a more attractive and effective.
- not forget the control of fraud in all these tests and studies that the merchant perform. It's key selling security and confidence, but so is everything that is entered is "genuine." I say this because there are payment methods that offer many more facilities to make chargebacks than others, we must study the user behavior in order to tailor solutions to the peculiarities and market needs and the merchant. For example, if we see that in a market much X card chargeback, because we adapt the system to provide "just" solutions with less risk, we never forget that there will always be genuine customers and transactions that should not be blocked generically. In other words, the portfolio payments "should be" tailored to both the operator and the user "
- All this above is more complex and extensive than it appears, and just say that as a summary means of payment and fraud control thereof, are increasingly a key strategic operator, since they are a marketing tool and especially more monetized and measured. In short, everything is evolving very quickly and the means of payment should be taken into account, because that serves you sell if you suffer the risk of losing much in chbk, and ... you used to sell traditional channels if growing strategies for acquiring and retaining customers spend to provide a more effective payment solutions, secure and tailored to the client where the multi-channel is key.
- From the perspective of members, I include the importance of these when working on stopping fraud, since in the vast majority of cases if "send" a user to a particular merchant and this then undergoes a chargeback, the member receives his commission (CPC, CPL CPS ...) and in part "does not care fraud suffered by the operator." The market is evolving and moving towards a single, integrated solution where all stakeholders: affiliates, merchants and payment providers have a common goal: to make money in a safe and steady. Everything is converging, and ecommerce all actors must work together to make it grow in a clean, safe and sustainable. Members have gained a lot of money including an aggressive SEO strategy, but now the big players have reacted not only to be "masters of their keywords, but to monitor closely the affiliate will be profitable. Means of payment and overall management of them, acquire a very important role here, which is nothing to streamline and manage payments for all to collect and manage their risks.
- is vital to choose a PSP (Payment Services Provider), which together with the operator should be aware that solutions are best for each market, especially in the gaming world with so many changes and regulatory complications. They must be very careful the subject compliance, and that this issue does not slow them in their final strategy, as there are always "loopholes and tricks "that an operator and a PSP can" save a lot without damaging its image, reputation and strategy ". If you take this into account, or PSP or operator are not sufficiently competent in the subject, you might miss a great opportunity business. In addition, the PSP should know how to manage and process their payments and are thus closer to the user to know which payment method is used, the amount, the channel and from where, among other factors. Once they have that information, using filtering systems and intelligent routing, transactions will be processed more efficiently, thus lowering the deposit rate rejected, among other advantages.
- say that partnerships are key to attract and retain customers, we must know how to choose the payment provider that best suits our needs, taking into account, marketing, fraud, image and reputation as well as corporate strategy in general. Should I care very much which may be the best PSP and conforming more to the strategy and resources of a given operator "
It was certainly an interesting panel, but in which many, including one of the speakers (myself) was left wanting more information and debate on how to tackle the barriers to entry in a market with tremendous potential, and not just have two emerging economies like Brazil and Mexico, but for the many opportunities to enter a booming market in developing countries, where means of payment will give plenty to talk about ...
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