Settling payments with software and games providers is simpler with artificial intelligence
The security and efficiency of international cross-border transactions in the iGaming industry are being greatly enhanced by the implementation of artificial intelligence (AI). While this futuristic technology once had a reputation as science fiction, AI has begun to make strides in a rapidly growing range of everyday business processes in the financial industry for iGaming operators.
All of this is even extended to cross-border payments, which are quite common among companies and players in this industry. AI is already being used to automate processes to speed up transactions, strengthen security and improve the quality of service for customers.
Several experts have weighed in on the topic regarding AI’s capabilities in the payments space in the iGaming industry. Many have explained its value in reducing human error and instantly calculating player credit scores. On the other hand, the rapid evolution that AI has undergone means that decision-makers in the payments space are now exploring how AI can help them solve other payments-related headaches.
Already, there are a lot of online casinos implementing AI-based solutions to payment-related problems. It is possible that this will continue to be a reality for future operators to allow their users to complete transactions verbally on any device, without the need to first dial a number.
On the topic of cross-border payments, AI is speeding up transaction resolution by accurately predicting exchange rates. Predictive analytics is able to come up with a predetermined exchange rate, which means transactions can be processed in real-time. Costs remain transparent to all parties involved and this will undoubtedly increase the level of experience within an iGaming platform.