Top 5 Alternatives to PaymentIQ for iGaming Operators

In Malta’s highly regulated iGaming market, choosing the right payment solution is critical. Operators face challenges like fraud, compliance, and handling high transaction volumes during peak events. This article highlights five alternatives to PaymentIQ, focusing on their features, EUR support, fraud prevention, scalability, and regulatory compliance.

Key options include:

• Fluid: AI-powered, personalised payment experiences with strong EUR and crypto support.

• Adyen: A unified platform for global operations, offering robust fraud detection and scalability.

• Skrill: A widely-used digital wallet with strong EUR support but higher fees.

• PayTo/PayID: Best for Australian markets, limited EUR compatibility.

• Yaspa: Open banking-based, fast EUR transactions via SEPA Instant.

Quick Comparison

Operators in Malta should prioritise solutions with strong EUR support, advanced fraud prevention, and compliance with local and EU regulations. Fluid and Yaspa stand out for their ability to meet these needs efficiently.

Top 5 payment methods in the iGaming industry in 2024

1. Fluid

Fluid is a cutting-edge digital cashier powered by AI, designed to deliver personalised payment experiences for iGaming operators. Instead of relying on one-size-fits-all payment flows, Fluid tailors the journey to match each user's behaviour and preferences. This approach not only tackles common industry challenges but also makes Fluid a standout solution.

Integration Made Simple

Fluid seamlessly integrates into existing systems with minimal development effort, making it a convenient choice for operators who want to avoid lengthy implementation processes. It works harmoniously with current iGaming platforms, requiring little-to-no API adjustments. Plus, it ensures brand consistency by maintaining the platform's visual identity throughout the payment process, creating a smooth and familiar experience for players.

Advanced Fraud Prevention

Equipped with AI and machine learning, Fluid offers robust fraud detection by identifying suspicious user behaviour in real time. Its system continuously learns from transaction data, flagging potential risks before they escalate. This proactive approach helps operators mitigate chargebacks and fraud-related losses, while providing instant insights into payment trends and vulnerabilities.

Scalable Performance

Built with mobile and tablet users in mind, Fluid handles traffic surges during peak gaming events effortlessly. Whether managing hundreds or thousands of transactions per hour, the platform scales automatically to ensure consistent speed and reliability. It’s designed to handle high-volume transactions across various markets and jurisdictions without breaking a sweat.

Support for EUR and Local Payment Preferences

Fluid supports multiple currencies, including EUR, which is particularly important given Malta’s role as a key European iGaming hub. It accommodates the payment habits of European players by integrating widely used methods like cards and cash, which are especially popular in Malta. Additionally, Fluid includes alternative payment methods, such as cryptocurrencies, to cater to the preferences of international audiences.

Meeting Regulatory Standards

Fluid’s compliance framework is tailored to meet the strict standards set by the Malta Gaming Authority. It simplifies adherence to KYC requirements while ensuring a smooth user experience. With its real-time analytics, operators can easily monitor compliance, generate necessary reports, and demonstrate alignment with anti-money laundering laws and responsible gaming practices.

2. Adyen

Building on Fluid's tailored payment experience, Adyen offers a unified payment platform designed for businesses with complex international operations. By combining the functions of a payment gateway, processor, and acquiring bank into one solution, Adyen simplifies both online and in-person transactions. This makes it an attractive choice for iGaming operators who need to manage intricate payment flows across multiple markets and currencies.

Integration Made Simple

Adyen’s system integrates through three main components: a payments server for handling Checkout API requests, a client interface for collecting payment data, and a webhook server for real-time updates on transaction statuses.

To make implementation smoother, Adyen provides server-side API libraries in various programming languages and offers customisable Drop-in/Components. These tools help businesses streamline their setup while maintaining consistent branding. For the iGaming industry, this means faster, secure payment processing that supports global operations without compromising efficiency.

Built for Growth

Adyen ensures its platform stays up to date with regular updates and recommended upgrades. These updates enhance security and performance, which is crucial for handling spikes in traffic during major gaming events. This focus on reliability ensures systems remain stable even during peak activity.

Local Payment Support and € Transactions

Adyen is well-suited for Malta’s market, supporting € transactions and accommodating the country’s preferred payment methods. In Malta, cash, credit, and debit cards are widely used, with an average of 2.26 cards per capita. Adyen’s robust card processing capabilities align perfectly with these local preferences.

The platform also processes payouts efficiently, typically within two business days. However, exact timing can vary depending on the currencies and banks involved. Beyond cards, Adyen supports a wide range of payment options, including digital wallets and bank transfers. This flexibility allows operators to meet the expectations of local customers while also catering to international players with diverse payment preferences.

3. Skrill

Skrill, part of Paysafe Limited, is a widely-used digital wallet in the iGaming industry, operating across nearly 200 countries and supporting 40 currencies.

Integration Made Simple

Skrill's system is designed to simplify payment processing by using its digital wallet, allowing transactions without revealing sensitive card details. It supports various payment options, including local methods, credit and debit cards, and even cryptocurrencies, offering players flexibility in how they manage their funds. Plus, the platform keeps financial details private during transactions. This seamless integration aligns with the advanced capabilities found in other top-tier payment solutions.

Strong Fraud Protection

Security is a top priority for Skrill. The platform uses 128-bit SSL encryption certified by VeriSign, along with two-factor authentication, to secure accounts. It actively monitors for unusual account activity and blocks suspicious transactions when flagged. Automatic alerts keep both operators and players informed about transactions in real time. Importantly, Skrill never asks users for passwords or PINs, adding another layer of security.

EUR and Local Payment Options

Skrill supports EUR and a variety of other currencies, making it especially convenient for operators in Malta and beyond. However, it’s worth noting that Skrill charges currency conversion fees of 4.49% and international transfer fees of up to 4.99%. In May 2023, Skrill launched a new deposit feature called Debin, powered by the Central Bank of Argentina, which allows users to add funds to their accounts more quickly and securely. These local payment features complement Skrill’s strong security and compliance standards.

Meeting Regulatory Standards

Skrill operates under strict regulatory frameworks. It is authorised by the UK’s Financial Conduct Authority under the Electronic Money Regulations 2011 and is also registered with the U.S. Department of Treasury's Financial Crimes Enforcement Network. These measures ensure Skrill adheres to established guidelines for customer protection and anti-money laundering practices.

4. PayTo / PayID

PayTo offers a modern alternative to traditional direct debit, allowing real-time payment agreements for recurring transactions, deposits, and payouts. Meanwhile, PayID simplifies money transfers by using a phone number or email address instead of traditional account details.

Integration Ease

To integrate PayTo, businesses need to collaborate with an Australian bank or payment service provider, along with sponsorship from a financial institution. This setup enhances transaction processes for online and mobile platforms, offering benefits like no surcharges on large transactions and simplified back-end operations for merchants. A notable example is Amazon Australia, which added PayTo to its checkout process in June 2025, allowing customers to pay directly from their bank accounts.

Fraud Prevention

Even within Australia's secure banking framework, fraud remains a concern. Operators face risks such as multiple account fraud, bonus abuse, and account takeovers, which require robust measures like identity verification, dynamic friction strategies, and continuous monitoring. While PayTo integrates with major Australian banks under the NPP framework, providing a secure base, operators must enhance this with additional safeguards, including thorough identity checks during account creation and ongoing monitoring of user activity.

Scalability

PayID has already gained traction with 12.7 million Australians and is projected to reach 20 million users by the end of 2025. However, its focus on the Australian market limits its utility for global operations. Businesses can customise their payment strategies with options prioritising speed, security, or cost. While all major Australian banks support PayTo under the NPP framework, operators targeting international markets may need to explore alternative payment solutions. This regional limitation sets PayTo and PayID apart from more globally oriented systems.

Support for EUR and Local Payment Methods

PayTo and PayID are designed exclusively for the Australian financial ecosystem and do not support transactions in EUR. This poses a challenge for Malta-based iGaming operators, where the Euro is the primary currency. Malta's payment landscape typically includes cards, cash, digital wallets like Apple Pay and Google Pay, and online bank transfers. As a result, PayTo and PayID are tailored for the Australian market and are not suitable as primary payment methods for operators in Malta or other international regions.

5. Yaspa

Yaspa leverages open banking technology to provide instant bank payments, addressing the payment and fraud challenges faced by the gambling industry. By reducing processing delays, the platform aims to create a seamless experience for operators and their customers.

Integration Made Simple

Yaspa makes integration straightforward, offering both direct and platform-mediated options. Its capabilities were highlighted through an exclusive partnership with Playbook Engineering.

"When enhancing our payment systems, it was crucial for us to partner with a provider that could match our vision for innovation and deliver a modern, user-friendly experience. Yaspa stood out as a leader in open banking and iGaming payments." – Luke Cousins, Commercial Director at Playbook Engineering

This streamlined approach not only simplifies onboarding but also lays the foundation for advanced fraud detection and scalability.

Tackling Fraud with AI

Yaspa uses AI-driven, real-time fraud detection to identify suspicious activity, helping to combat stolen card fraud and chargebacks. This is particularly relevant in light of refund fraud, which accounted for 14% of all returns in the US in 2023, costing merchants over $101 billion. By enabling secure, direct bank-to-merchant payments, Yaspa eliminates the risks associated with stolen card usage and traditional chargebacks.

The platform also integrates biometric technology for verifying bank accounts and sources of funds, offering an extra layer of security. For iGaming operators, Yaspa provides a Safer Gambling solution, utilising AI to analyse behavioural patterns across platforms. This ensures a safer gaming environment while features like biometric authentication and secure codes further minimise impersonation and 'friendly fraud' risks.

Built for Growth

Yaspa’s open banking foundation allows it to handle large transaction volumes in real time. By deploying player risk scores and proactive alerts, it helps operators mitigate fraud risks while scaling their operations. Partnerships, such as those with Playbook Engineering and VIALET, extend Yaspa’s reach, enabling instant, multi-currency payment solutions across Europe. These collaborations make it easier for operators to expand into new markets without needing multiple payment integrations.

Supporting EUR and Local Payments

Yaspa supports EUR payments through SEPA Instant Credit Transfer (SCT Instant), which processes transactions in about 10 seconds across 29 countries in the Single European Payment Area. For Malta-based operators using the Euro, this is a key feature. When SCT Instant isn’t available, payments via SEPA Credit Transfer settle within one business day. Yaspa’s services are also influenced by the maturity of PSD2 implementation and bank adoption in each region. Malta, with its integration into networks like SEPA, SWIFT, and TARGET2, ensures compatibility with Yaspa’s offerings.

Staying Compliant

Yaspa adheres to PSD2 regulations, meeting Know Your Customer (KYC), anti-money laundering (AML), and responsible gambling requirements. Its real-time fraud detection and transaction monitoring tools help operators meet regulatory standards. Additionally, detailed transaction records and source of funds verification align with documentation expectations set by the Malta Gaming Authority and other European regulators, ensuring smooth compliance processes.

Comparison of Features

When choosing a payment platform, it's crucial to examine factors like integration ease, fraud prevention, scalability, local payment support, and regulatory compliance. Here's a breakdown of how the leading solutions stack up:

Key Insights

Fraud prevention is a critical feature, especially considering that 65% of organisations have faced payment fraud or attempted attacks. Identity fraud has surged, doubling between 2021 and 2024, with AI-driven methods now including synthetic voices and fake documents. Solutions with advanced fraud detection systems, like AI and machine learning, provide a significant edge in safeguarding transactions.

For Malta-based operators, strong EUR support is essential. Platforms offering SEPA Instant Credit Transfers, which process transactions in under 10 seconds, not only enhance user experience but also boost conversion rates. This speed and reliability are key in retaining customer trust in a competitive market.

Regulatory compliance is another non-negotiable aspect. Following the UK Gambling Commission's €23.81 million fine to William Hill in 2023 for AML and social responsibility failures, operators must prioritise robust compliance frameworks. These frameworks help navigate complex regulations, avoid hefty penalties, and maintain operational credibility.

Ultimately, operators need to balance these features with their specific market needs and technical capabilities to ensure secure, compliant, and efficient payment processes in the fast-paced iGaming industry.

Conclusion

Selecting the right payment platform is a critical decision for businesses operating in Malta's highly regulated environment. Here's a quick recap of each platform's strengths to help you make an informed choice.

Fluid stands out for its AI-powered personalisation and seamless integration. Its advanced fraud detection and real-time analytics can improve conversion rates, while support for EUR and cryptocurrency transactions makes it particularly valuable for Malta's iGaming sector.

Adyen offers enterprise-level scalability and global reach. Its infrastructure can handle high transaction volumes, making it ideal for larger operators. However, its technical complexity may require additional development resources, which aligns well with Malta's stringent regulatory standards.

Skrill is known for its easy integration and strong EUR support via SEPA. Its established presence across Europe ensures reliability, though businesses experiencing rapid growth may need to bolster their infrastructure during peak periods.

PayTo/PayID, while effective in Australian markets, lacks robust EUR capabilities and a European focus, making it less suitable for Malta-based operators targeting the European audience.

Yaspa excels in facilitating SEPA Instant Credit Transfers and adheres to PSD2 requirements. Built on open banking principles, it supports high transaction volumes and is a solid choice for operators prioritising speed within European markets.

For Malta's iGaming operators, compliance is non-negotiable. With the industry contributing around 12% to Malta's GDP in 2023, adhering to regulations like the Use of Cash (Restriction) Regulations and the €10,000 cash transaction limit is crucial.

The best platform for your business depends on your scale and focus. Smaller operators may prefer solutions with quick setup and straightforward support, while larger enterprises should emphasise scalability and robust fraud prevention. Given the increasing frequency of payment fraud, investing in AI-driven security measures is a wise long-term strategy.

Evaluate your transaction volumes, operational needs, and future goals carefully. The ideal payment platform will not only meet your current requirements but also pave the way for growth across European markets, all while ensuring full compliance with Malta's regulatory framework.

FAQs

What should iGaming operators in Malta look for when choosing a payment platform?

When choosing a payment platform, iGaming operators in Malta need to make compliance with Malta Gaming Authority (MGA) regulations a top priority. This ensures their operations run smoothly and within the bounds of the law. The platform should also provide secure and localised payment options tailored to the Maltese market, supporting the euro (€) and meeting regional security requirements.

Key features to consider include easy integration, the ability to handle growth through scalability, and strong fraud prevention tools. It's equally important to select a platform that supports a wide range of payment methods, creating a hassle-free experience for both operators and players in Malta's iGaming sector.

How does AI-driven fraud detection enhance security for iGaming operators using platforms like Fluid?

AI-powered fraud detection enhances security for iGaming operators by keeping a close eye on transaction patterns and player behaviour in real time. It spots unusual or suspicious activities, allowing operators to act quickly and reduce the risk of fraudulent transactions.

This hands-on strategy doesn’t just shield operators from financial losses - it also creates a safer, more reliable gaming space for players. Platforms like Fluid step in to tackle fraud before it becomes a bigger issue, helping operators maintain smooth operations and build player trust.

Why are euro (€) support and regulatory compliance essential for payment platforms in the European iGaming industry?

Why Euro (€) Support and Compliance Matter in European iGaming

For payment platforms in the European iGaming scene, supporting the euro (€) and sticking to regulatory standards aren't just helpful - they're essential. The euro simplifies cross-border transactions, cutting out the hassle and costs of currency conversions. This makes payments smoother and more cost-effective for both operators and players within the Eurozone.

On the compliance side, following EU regulations like anti-money laundering (AML) rules and cybersecurity measures is a must. These safeguards protect platforms from hefty fines and build trust with users. Plus, they help create a secure, fair gaming environment - an absolute must for staying credible in Europe’s tightly regulated market.