How to Seamlessly Migrate from PaymentIQ: A Step-by-Step Guide

Switching from PaymentIQ to a new payment platform can feel overwhelming, but it doesn't have to be. Here's why many iGaming operators are making the shift and how you can do it smoothly:

• Why Switch? PaymentIQ may struggle with scalability during traffic surges, meet new regulations like PSD3 and DORA, or handle mobile-first and cryptocurrency payments efficiently.

• Key Challenges: Operators face high transaction fees, delays, and compliance risks if their systems can't keep up with industry demands.

• Preparation Steps: Focus on compliance, secure your data, and set measurable goals before migration.

• Choosing a New Platform: Look for features like security, multi-currency support, scalability, and mobile optimisation. Fluid Payments is a strong contender due to its AI-driven tools and quick installation process.

• Migration Process: Break it into steps - data mapping, sandbox testing, and gradual rollout. Communicate clearly with players and monitor performance metrics post-migration.

This guide explains how to navigate the process, avoid common pitfalls, and ensure a smooth transition. Let’s dive into the details.

How to build a payments system that scales to infinity

Getting Ready for Migration: What to Do First

Preparation is key to reducing risks, meeting compliance standards, and setting the stage for a smooth migration. Here's a closer look at the three critical areas you should focus on:

Meeting Compliance and Regulatory Requirements

Navigating Malta's competitive iGaming landscape means adhering to stringent local and EU regulations. The Malta Financial Services Authority (MFSA), which regulates the financial services sector, currently licenses 36 e-money institutions and 30 payment institutions in Malta.

Start by ensuring compliance with critical regulations. The Financial Institutions Act governs Payment Institutions and is a cornerstone of Malta’s regulatory framework. Beyond this, you’ll need to address GDPR, PSD2, the Electronic Money Directive (EMD), AML/CFT obligations, and the Digital Operational Resilience Act (DORA).

For instance, PSD2 mandates strong customer authentication (SCA) and requires third-party providers to comply with GDPR data protection rules. Additionally, the Instant Payments Regulation outlines specific deadlines that could impact your migration timeline:

Failure to comply can result in fines, licence suspension, reputational harm, or even legal action. To mitigate these risks, conduct Data Protection Impact Assessments (DPIAs) and compliance audits before the migration. Establish robust data security policies, including clear procedures for handling breaches and remediation planning.

Gathering Your Documentation and Data

A thorough data inventory is crucial. This should include transaction histories, player balances, pending transactions, and complete PaymentIQ API documentation.

Compile a comprehensive inventory that covers merchant account details, integration specifications, fraud prevention rules, reporting configurations, and operational data. Secure this data using strong encryption and multi-factor authentication. Implement multi-level verification processes to monitor transactions and detect unusual activity. Organising all migration-related documentation in a centralised repository can streamline the process and minimise the risk of missing critical elements.

Setting Clear Migration Goals

Define specific, measurable objectives that tie directly to your business outcomes. Research shows that cross-functional leadership improves migration success rates by 76%, while auditing legacy systems can reduce migration issues by 42%.

Set goals that align with business priorities, such as reducing revenue losses, improving operational efficiency, or enhancing customer satisfaction. For example, aim for a 15% drop in support tickets or a 10% improvement in user experience. Involve leaders from finance, IT, operations, and support to ensure alignment and commitment across departments. This collaboration ensures everyone recognises the migration's importance and allocates the necessary resources.

Establish success metrics like faster transaction speeds, fewer payment failures, or enhanced reporting capabilities. These benchmarks will guide your post-migration evaluations and help you make necessary adjustments to optimise performance.

Choosing Your New Payment Platform

When selecting a payment platform, the focus should be on boosting revenue, ensuring compliance, and keeping players happy. Here's what you should prioritise during the process.

Must-Have Features to Look For

A great payment platform needs to deliver solid performance and reliability. Even a one-second delay can lead to a 7% drop in conversions. These key features are essential for any modern iGaming payment system.

Security and fraud prevention should be non-negotiable. Opt for platforms with encryption, two-factor authentication (2FA), thorough KYC processes, and AI-driven fraud detection. These tools not only protect your business but also build trust with your players.

Multi-currency and cryptocurrency support are vital for global operations. Allowing players to deposit in their local currency eliminates unnecessary conversion fees, while cryptocurrency options offer faster transactions, anonymity, and lower costs.

Scalability is another critical factor. Features like elastic server capacity, cloud hosting, and load balancing ensure your platform can handle high traffic during peak times and grow alongside your business without major overhauls.

With the rise of mobile gaming, mobile optimisation is no longer optional. Your platform must work seamlessly across desktops, tablets, and smartphones to capture the growing mobile user base.

Why Fluid is the Right Choice

Fluid checks all the boxes when it comes to essential features for iGaming operators. Designed to tackle challenges associated with outdated payment systems, Fluid’s AI-powered digital cashier enhances deposit rates, reduces drop-offs, and provides actionable insights into user behaviour.

One standout feature is its real-time personalisation. Fluid uses smart prompts to guide player actions while employing AI-driven fraud detection to safeguard operations. The result? A tailored user experience that boosts conversions.

"We want the user to just click 'next, next, next' and complete a successful deposit."
– Lisa Pulk, CPO of Fluid Payments

Fluid has already proven its capabilities. For instance, in February 2025, PowerPlay adopted Fluid's Smart Cashier, offering players a seamless deposit process. Dean Serrao, CEO of PowerPlay, shared:

"PowerPlay is committed to providing the best possible experience for our players, and fast, secure payments are a huge part of that. With Fluid's technology, players will enjoy a more intuitive and localised payment experience, making deposits faster and smoother."

The platform’s quick installation process is another advantage. Its plug-and-play setup minimises downtime, allowing for a smooth transition without the need for extensive development.

Fluid’s comprehensive features include Smart Deposit Journeys, In-Game Quick Deposits, AI-Powered Smart Prompts, customisable themes, automated KYC, and real-time analytics. Together, these tools create a unified payment system tailored to your needs.

Checking Compatibility with Your Current Systems

After identifying the features you need, the next step is ensuring compatibility with your existing systems. Start by evaluating the platform's API integration capabilities. Look for well-documented APIs that support various programming languages and provide clear implementation guides.

A modular design is key for flexibility. This allows the payment platform to integrate with your current back-office systems, CRM tools, and accounting software, adapting as your business evolves.

Testing is essential. Conduct internal tests to verify smooth integration between modules, and perform external tests to ensure compatibility with third-party systems like anti-fraud tools, data providers, and regulatory reporting tools. For example, in iGaming, it’s crucial to ensure real-time betting data from external providers syncs correctly with your front-end and risk management systems. Confirm that every transaction step - from initial request to final ledger updates - is accurately captured.

For Malta-based operators, regulatory compliance is a top priority. Run simulations to ensure your data reporting systems align with local requirements, avoiding potential compliance issues.

Fluid easily integrates with existing systems, including websites, mobile apps, ERP platforms, ordering software, and accounting tools. This ensures a smooth migration, allowing your business to hit the ground running with a modernised payment solution.

Migration Process: Step-by-Step Guide

Once you've settled on your new payment platform and confirmed its compatibility, it's time to move forward with the migration. Breaking the process into smaller, well-defined phases can help minimise downtime and reduce risks, ensuring the transition is as smooth and secure as possible.

Step 1: Data Mapping and Extraction

Start by conducting a thorough audit of your active payment tokens to create a detailed data map. This is also a good chance to clean up your database by removing outdated or redundant information.

"A critical aspect of successful payment token migration lies in precise mapping from source to target using a comprehensive data dictionary." – Rebar Technology

Creating a data dictionary is essential. This document should outline every field, its format, and how it maps to the new system. Once your data map is ready, securely export stored card data and personally identifiable information (PII). During this step, rigorous quality control is key to avoiding errors or data loss.

Maintaining consistency and accuracy in your data is non-negotiable. Any lapse in quality control could lead to issues that might jeopardise the migration process.

Step 2: Testing in Sandbox Environments

Before making the switch live, use a sandbox environment to thoroughly test your integration. Sandbox environments provide a safe, controlled space where you can mimic actual payment processing without affecting real customer data or funds.

Test for all scenarios, including edge cases like failed transactions, refunds, and retries, to ensure the system handles them effectively. Use test data that closely mirrors your live environment, confirm the API version, and stick to rate limits. Collaborate with your QA team to review logs and quickly address any issues. It's also a good idea to simulate high transaction volumes to test how your system performs under stress.

After any updates to your payment gateway or related systems, repeat these tests to confirm compatibility and performance. This ensures the system is fully prepared for a controlled live rollout.

Step 3: Gradual Rollout and Monitoring

Begin the live migration with a phased rollout. This approach reduces risk by allowing you to validate the new system's performance with a smaller group of users before expanding to your entire customer base. Start by redirecting a small percentage of transactions to the new system while keeping the majority on PaymentIQ. This parallel setup ensures business continuity while you verify the new platform.

Establish clear performance metrics, such as transaction success rates, processing times, and user experience, and compare them to your baseline data. This helps you identify and resolve any issues - like payment method compatibility or currency conversion errors - before they affect your broader user base.

During this phase, ensure all parts of your tech stack and databases remain compatible, even as you operate multiple versions simultaneously. Keep an eye on metrics like deposit completion rates and support ticket volumes to catch and address emerging issues quickly.

Fluid's plug-and-play setup can simplify this stage by offering a quick installation process and robust monitoring tools, making the rollout more predictable and less stressful.

Solving Migration Problems and Post-Migration Setup

Completing the migration process is just the beginning. Tackling post-migration challenges is vital to ensure everything runs smoothly. Even with careful preparation, hiccups are common - 45% of companies report data loss, and over 70% find migrations more complicated than anticipated. The focus should be on addressing these challenges quickly while keeping communication open and transparent.

Communicating with Players During Migration

Clear and honest communication is crucial. Research shows that 32% of customers leave a brand after just one failed transaction.

Start reaching out to your players at least two weeks before the migration. Personalised emails are a great way to explain what’s happening, when it will take place, and how these changes will improve their gaming experience. For operators in Malta, make sure your messages align with local laws, and consider offering multilingual support for international audiences.

During the migration itself, a live status page can be a lifesaver. Use it to share real-time updates on system status, expected timelines for completion, and alternative payment options if any are temporarily unavailable. This transparency reassures players and reduces the number of support requests.

For high-value players, automated SMS updates can be effective in keeping them informed about service interruptions. Additionally, in-app notifications can guide users through new payment flows or interface changes once the migration is complete.

Once your players are informed, it’s time to focus on resolving system-level issues.

Fixing Reconciliation and Settlement Problems

Running parallel systems during migration often leads to reconciliation headaches. In 2023, 37% of companies cited "inconsistent API performance" as a major hurdle during migration. This can cause settlement discrepancies between the old and new platforms.

To manage this, create a detailed reconciliation checklist. Include deposits, withdrawals, refunds, and chargebacks, and review records daily while both systems are operational. Pay special attention to currency conversions, as even small inconsistencies can add up over time.

"Sometimes, changing the code is easier and more efficient than interfering with data loads. If there is a way to make the process simpler without affecting the quality of the outcome, do it." - Vladislav Soia, QA Engineer

Establish clear escalation paths and assign team members who have direct access to both systems to handle disputes. Document every discrepancy, no matter how minor, as patterns can reveal underlying issues that need fixing.

Once reconciliation is under control, shift your focus to system performance.

Improving Performance After Migration

Post-migration optimisation starts with setting baseline metrics during the first week. Key performance indicators like transaction success rates, processing times, and conversion rates across payment methods should be closely monitored. Compare these metrics to your pre-migration data to pinpoint areas for improvement.

While migration costs often exceed initial estimates by 14%, the investment usually leads to better operational efficiency. Use advanced reporting tools to analyse payment preferences based on player demographics, peak transaction times, and regional trends.

"With all the risks of data migration, being flexible and adjusting the management helps avoid data loss and solve many other problems. Thus, some outcomes of data migration may not match your initial plans, and that has to be accepted as well." - Serhii Kopeikin, COO at Maven Solutions

A/B testing can significantly improve conversion rates. Experiment with different payment flows, form layouts, and security steps to find the best setup for player satisfaction. The new platform’s checkout process may need tweaks to optimise the user experience.

Hold monthly performance reviews for the first six months after migration. Involve teams from payments, compliance, customer support, and business intelligence. These reviews can help identify trends, address new challenges, and plan further improvements based on actual player behaviour.

Finally, don’t underestimate the impact of training. Up to 30% of migration errors are due to insufficient user knowledge. Ongoing training ensures your team is fully equipped to handle the new platform and maintain high performance levels.

Conclusion: Making Your Migration Work

Switching from PaymentIQ to a new system requires careful planning and smart use of resources to meet compliance, technical, and operational objectives. By addressing these areas thoroughly, you can reduce the chances of service interruptions or breaching regulations.

One critical step is accurate data mapping. This ensures no data is lost and makes the transition smoother. For operators in Malta, it's essential to support EUR transactions and follow local standards, such as the DD/MM/YYYY date format.

To keep the process as seamless as possible, use sandbox testing and roll out the changes in phases. This approach helps maintain system stability and minimises disruptions during the switch.

Once technical aspects are sorted, focus on clear and consistent communication with stakeholders. Keeping players informed in advance can cut down on support queries and build trust during the process. Align your messaging with Maltese conventions and provide regular updates to keep everyone confident and on the same page.

After the migration is complete, don’t stop there. Regularly review performance metrics like transaction success rates, processing times, and conversion rates across payment methods. These reviews help spot trends and address any challenges early. Involving teams across different functions in these evaluations ensures ongoing improvements and a better experience for users.

FAQs

What key compliance regulations should businesses in Malta follow when switching from PaymentIQ to a new payment platform?

When switching from PaymentIQ to a different payment platform, businesses in Malta need to place a strong emphasis on GDPR compliance. This ensures user data is handled responsibly and privacy is safeguarded throughout the migration process.

Equally important is following the PCI DSS standards, which are critical for maintaining the security of payment transactions during this transition.

On top of that, businesses must align with the licensing and operational requirements laid out by the Malta Gaming Authority (MGA). This includes ensuring transparency in fee structures and passing solvency checks. Adhering to these regulations not only helps avoid fines and legal complications but also keeps operations running smoothly without unnecessary interruptions.

How can I keep my data secure and ensure accurate mapping during a migration?

To keep your data safe and ensure accurate mapping during migration, start by taking a close look at all your data sources and checking their quality. Careful planning is essential - bring in the right stakeholders and carry out detailed testing to minimise the risk of errors or losing data. Make sure to use strong encryption methods to protect sensitive payment details and stay compliant with local regulations.

It's also important to stay on top of security by performing regular updates and validation checks throughout the process. Testing in stages, or iterative testing, helps maintain data accuracy and consistency. Address any issues as soon as they appear to ensure everything stays on track. These steps will help you manage a seamless and secure migration while keeping your payment data protected.

How can I communicate with my players about the migration to ensure a smooth experience with minimal disruption?

To make the migration process as smooth as possible for your players, it’s crucial to start with clear and early communication. Let them know the timeline, any expected downtime, and what they should anticipate during the switch. Use straightforward language to ensure everyone stays on the same page.

Keep players in the loop with personalised updates through email, in-platform messages, and social media. By leveraging these channels, you can effectively reach your entire audience. Consistent updates not only prevent confusion but also help build trust and loyalty throughout the process.

Lastly, prioritise reassuring players that their payment details and overall experience will remain secure and uninterrupted. Offering step-by-step instructions for any required actions will further ease their concerns and boost confidence in the transition.