iGaming Business magazine Mobile Gaming Outlook - Page 7

Mobile Gaming Outlook OFFERING FRICTIONLESS GAMING WITHOUT COMPROMISING ON SECURITY Today’s mobile gaming ecosystem is seeing the collision of two seemingly opposing trends, explains Samuel Barrett On one hand, players are coming to expect faster and more frictionless online gaming experiences, be it at the registration step, the deposit step or the withdrawal step. On the other hand, these same players are becoming more protective of their data and more conscious of security threats, likely spurred on by several recent high-profile data breaches. Gaming operators are stuck trying to strike a delicate balance between these two trends, finding ways to offer a more frictionless gaming experience while still ensuring their players feel safe and secure. How can they do this? By building trust among their players. Building trust Building trust starts as early as registration, but getting players to endure a lengthy registration process is hard enough. According to Jumio’s Mobile Gaming Registration And Deposit Abandonment study, approximately 24% of players drop out during the registration step. And even then, a successful registration doesn’t guarantee that the player will proceed with a deposit. CRM specialist Optimove revealed that only one in three players who registers makes their deposit within 24 hours and two in five players who register make their first deposit within 14 days. So operators are spending massive resources to acquire players, only to lose them during the critical registration and deposit steps. This drop-off is due to factors like difficulty navigating the registration process (26%) and the payment process being too complicated (27%), according to Jumio. When players are unfamiliar with a gaming site, they can be even more hesitant to make a deposit, especially considering the growing fraud associated with credit card payments. The concept of trust has always been a fundamental element of being willing to use any payment method. At Trustly we conducted a joint survey with research firm NEPA called The State of Online Banking, which revealed consumer at titudes towards banks and online banking payments. Across the board, Europeans showed high trust in their banks and on average, 70% of the respondents agreed that online banking was the safest method for making payments. Therefore, allowing players to make deposits to their player accounts directly from their local bank, which they have high trust in, can increase conversion at the deposit step. Frictionless gaming So, beyond offering a trustworthy payment method, what can operators do to whisk players through registration and boost Samuel Barrett started his gaming career more than nine years ago at Clarion Events, where within three years he became head of sales and was managing the biggest gaming show in the industry. He has since held management roles at payments businesses including ClickandBuy, Paysafe Group and leading UK FX brokerage World First before joining Trustly as director of gaming. conversion on deposits? Trustly’s latest innovation, Pay N Play, helps operators comfortably balance a frictionless gaming experience with a safe one. To register and deposit, all a player has to do is make a deposit via his or her trusted online bank – no redirect away from the mobile gaming site is necessary. As the player makes a deposit, Trustly extracts all the necessary information from the player’s bank account to fulfill KYC requirements and delivers the data to the operator, which can register the player account in the background. Since registration and the initial deposit are bundled into one step, the chance that the player registers but never deposits is eliminated, ultimately increasing conversion and boosting ROI on acquisition and reactivation. It also reduces the average registration time from 2.25 minutes, according to Jumio, down to less than 30 seconds. Closing the loop with instant payouts Soon enough, players will want to cash out their winnings. This is perhaps the step with the most friction and the experience can vary greatly depending on factors like the amount of the payout, the country in which the gaming took place and anti-money laundering compliance requirements. Players often have to submit copies of identification documents, for example, and payouts can take several days. However, because a player’s identity is verified with strong two-factor authentication during the registration and deposit step, Trustly’s Pay N Play product can enable operators to issue instant payouts directly to the bank account that the player made the deposit from. Not only does this build trust with players, but it builds loyalty as well. While players’ increasing concerns over security have held operators back from offering a more frictionless and immersive gaming experience, Pay N Play propels both of these trends forward, raising the bar for what notoriously impatient players can expect from a mobile gaming operator. i GamingBusiness | Issue 112 | September/October 2018 87