AI is making it easier for iGaming operators to verify and complete online payments

Incorporating technological tools and changes in consumer expectations have changed payment services. Today, thanks to technology, it is possible to make physical and digital payments through credit or debit cards, transfers, platforms, payment gateways or QR codes. Technology has also provided solutions to the challenges of the iGaming sector. Different entities in the iGaming ecosystem have incorporated artificial intelligence (AI) in their operations with the purpose of speeding up payments.

The new bet of the iGaming ecosystem is to solve another of the sector’s problem points: delays in the visibility of payments in account balances. This affects many users who expect to see their money deposited as soon as possible.

Although consumers expect real-time visibility of their spending, reimbursements, earnings and so on, some online casinos take longer than others to show up on balances. Also, on certain occasions, the amount authorized may differ from the amount ultimately cleared in the customer’s account. Both of these factors have been detrimental to the payment experience and have prevented the user from knowing his or her financial situation in real time.

Therefore, different iGaming operators seek to improve the predictability, transparency and speed of payments. Through AI, companies in the sector have implemented models that can predict the probability that the amount of the transaction will change or not, from the payment to its clearing in the account. Models such as mestos have achieved high levels of predictive accuracy, giving iGaming institutions the ability to update players’ account balances in real time.

AI can help improve resources and minimize short- and long-term expenses. It can make all payments much more efficient and faster for real-time payments. For many, it is as easy as clicking pay, but there is a lot going on in the background to protect your purchase.