When we buy something online or pay for an entertainment service through a website, we rarely concern ourselves with the method of payment. Most of us will reach for our bank cards and make the payment without a second thought about the process involved and its limitations. But those entertainment platforms are aware of the issues caused by paying with conventional bank cards and credit cards – and they want to change.
The Issues with Orthodox Transactions
There are some cost and security issues associated with paying for subscription services and entertainment services online. When we pay with our bank cards, it is usually n inconvenient process where we have to enter a lot of sensitive information (and sometimes keep it saved on a website). Moreover, to execute the transaction, third parties usually have to get involved, such as Visa or Mastercard.
They don’t make payments go through for the good of their health, and they will charge small fees – also known as microtransactions – to put payments through. Usually, customers don’t see this because it is on the side of the entertainment site. But that doesn’t mean you aren’t paying for it. These fees are usually factored into the cost of the subscription or one-off purchase.
What Are the Alternative Solutions?
But there are ways to combat the insecurity of bank card transactions and their fees (that do add up!). Most of the alternative methods revolve around online wallets, such as PayPal, Skrill and Neteller.
But there are online wallets that are not connected to fiat currencies which can help too, including wallets that hold crypto currencies.
The Main Benefits of Alternative Transaction Solutions
Entertainment platforms that offer these payment methods are usually more secure for the customer and may be cheaper because of reduced/zero fees. Regulated and secure casino sites, like this one, provide a higher level of transaction safety when they allow their players to use depositing methods associated with crypto or electronic wallets. This happens because users are not entering sensitive information that has a chance of being stolen by hackers.
The other benefit is that alternative e-wallets can afford the customer a level of anonymity if they desired.
Video Gaming Could Benefit the Most!
Although alternative solutions could be beneficial to casinos, video streaming services and many more online platforms offering entertainment, there is one niche that could benefit the most. And that is video gaming.
Lots of video gamers run into daily microtransactions without realizing because they buy add-ons within gaming apps and video games. For example, they may unlock new characters, levels and weapons by purchasing them within the game. Frequent purchases of this kind can soon add up in microtransactions. Thus, if the gamer was to use an alternative solution, the cost of enhancing their in-game experience could be significantly reduced over time.
How Many Entertainment Platforms Offer These?
At the moment, some online platforms have started offering alternative transaction methods. Casinos appear to be the most advanced and forward-thinking. It is expected that as soon as more people learn about e-wallets and the benefits as mentioned earlier, as well as more crypto acceptance, you can expect to see more alternative options available across the board.
Learn more in our Newsletters!