Top iGaming Payment Providers Compared: What Every Operator Should Know

Selecting the right payment provider for your iGaming platform is a critical decision, especially in a regulated market like Malta. Players expect fast deposits, quick withdrawals, and secure transactions, while operators must comply with strict rules set by the Malta Gaming Authority (MGA) and the Malta Financial Services Authority (MFSA). Here's a quick breakdown:

• Fluid: AI-powered, supports multiple currencies and payment methods, prioritises security and personalisation.

• MoneyMatrix: Payment orchestration, but lacks publicly available details - contact directly for specifics.

• OpenPayd: Broader financial services with limited iGaming-specific information - requires direct inquiry.

• Xace: Licensed by both FCA (UK) and MFSA (Malta), offering regulated services; details on speed and features need confirmation.

• Skrill: Reliable e-wallet with instant deposits, fast withdrawals, and cryptocurrency support.

Quick Comparison

Choosing the right provider depends on your platform’s needs - whether it's speed, compliance, or player experience. Always test integrations and confirm features directly with the provider.

How iGaming Operators Should Choose the Right Payment Provider

1. Fluid

Fluid is an AI-driven digital cashier designed specifically for the iGaming industry. It tailors payment experiences to individual users while adhering to Malta’s strict compliance and security standards.

Regulatory Compliance

Fluid is built to handle the complexities of regulatory requirements across different regions. It processes transactions in euros (€) by default and supports a variety of currencies, helping operators stay compliant without the hassle of developing additional systems.

Payment Method Variety

Understanding that players have different payment preferences, Fluid supports a wide range of options, including traditional payment methods, e-wallets, and cryptocurrencies. Its mobile-first approach ensures smooth functionality across all devices, providing convenience for users wherever they are.

Fraud and Risk Management

With AI at its core, Fluid identifies unusual patterns and offers real-time insights into user behaviour. This proactive approach helps prevent fraud while also uncovering opportunities to improve payment processes. On top of that, Fluid enhances player engagement by delivering a secure and tailored payment experience.

Player Experience

Fluid ensures that the payment journey feels like a natural extension of the operator’s brand. It personalises payment options based on player behaviour and simplifies the checkout process with user-friendly, optimised guidance. The platform’s actionable analytics also enable operators to refine their strategies and improve conversion rates effectively.

2. MoneyMatrix

MoneyMatrix stands as another player in the iGaming payment ecosystem, offering a payment orchestration solution tailored for this sector.

However, publicly available information about MoneyMatrix is quite sparse. Details regarding its range of payment methods, transaction processing speeds, compliance with regulations, and risk management strategies are not readily accessible. For operators trying to assess its reliability and suitability, this lack of transparency can pose challenges. To gain a clearer understanding, operators are encouraged to reach out directly to MoneyMatrix for more comprehensive insights.

3. OpenPayd

OpenPayd is a payment provider with a footprint in the broader financial services sector. However, its role within the iGaming industry, particularly in relation to Malta's regulatory environment, requires further investigation by operators.

Important: Publicly available details about OpenPayd's iGaming-specific services are limited. Operators are encouraged to contact the company directly for a clearer picture.

Here’s a closer look at areas where operators may need to gather additional information:

Regulatory Compliance

There isn't much publicly available information about OpenPayd's compliance with the Malta Gaming Authority. To ensure adherence to key regulations like AML (Anti-Money Laundering), KYC (Know Your Customer), and responsible gaming standards, operators should directly confirm these details with OpenPayd.

Transaction Speed

Information about how quickly deposits and withdrawals are processed is unclear. Operators should inquire about specific processing times and whether transactions are handled in real-time or in batches.

Payment Method Diversity

Details about the range of payment methods OpenPayd supports - such as credit cards, bank transfers, e-wallets, cryptocurrencies, and local options - are incomplete. It’s also necessary to confirm the geographical reach and supported currencies to assess compatibility with target markets.

Fraud and Risk Management

Public insights into OpenPayd's fraud detection tools and risk management systems are limited. Operators should seek clarity on real-time fraud monitoring, risk scoring, and chargeback management capabilities.

Player Experience

Information on features like checkout speed, mobile optimisation, and saved payment methods is sparse. Requesting a demonstration or trial integration can help assess how user-friendly the platform is, including transaction confirmations and overall ease of use.

Given these gaps in publicly available information, operators interested in OpenPayd should reach out directly to the company to better understand its suitability for iGaming and its specialised offerings.

4. Xace

Xace is a payment provider that focuses on the iGaming sector, operating under licences in several jurisdictions. As with other prominent providers, its success hinges on compliance, transaction speed, and user engagement. The company’s regulated status and structured operational framework indicate a professional approach to payment services. However, operators should carry out their own due diligence when considering the platform.

Important: While Xace is authorised to provide regulated payment services, it’s a good idea to contact the company directly to clarify details about service offerings, pricing, and integration processes.

Regulatory Compliance

Xace operates through two licensed entities. Xace Limited is authorised by the UK's Financial Conduct Authority (FCA) under reference number FRN 948213. It functions as an Authorised Payment Institution in compliance with the Payment Services Regulations 2017. Meanwhile, Xace Malta Ltd is licensed by the Malta Financial Services Authority (MFSA) to provide payment services under the Financial Institutions Act.

To ensure client funds are secure, Xace holds these in segregated accounts. Funds managed through its partnership with Modulr FS Limited (UK) are protected under the Electronic Money Regulations 2011, while those handled through Modulr Finance B.V. (EU) are safeguarded in line with the Financial Supervision Act (Wet op het Financieel Toezicht, Wft).

Transaction Speed

Details about transaction times for deposits and withdrawals aren’t provided. It’s recommended to confirm processing speeds directly with Xace, as these may vary depending on factors such as payment method, transaction size, or location.

Payment Method Diversity

Xace hasn’t disclosed comprehensive information about the payment methods it supports. Operators should inquire about options such as credit cards, bank transfers, e-wallets, cryptocurrencies, and local payment methods. It’s also important to confirm supported currencies and the geographical reach of these services to ensure they align with your platform needs. A variety of payment options should be paired with reliable risk controls to safeguard transactions.

Fraud and Risk Management

Xace benefits from a team with extensive experience in both the gambling and finance sectors. This expertise likely informs their approach to managing industry-specific risks. Verify whether the platform offers features like fraud detection, real-time monitoring, risk scoring, and chargeback management to enhance security and minimise losses.

Player Experience

There’s limited information about player-facing features such as checkout speed, mobile optimisation, or the ability to save payment methods. These elements play a key role in improving conversion rates and keeping players engaged. Request a demonstration or trial integration to evaluate the platform’s user interface and test its performance across various devices and browsers.

For a complete understanding of Xace’s offerings, reach out to the company directly.

5. Skrill

Skrill has carved out a strong reputation as a reliable e-wallet provider in the iGaming sector. Here's a closer look at why it stands out for operators in Malta.

Transaction Speed

When it comes to speed, Skrill delivers. Deposits are processed instantly, allowing players to top up their accounts without delays. Similarly, withdrawals are handled quickly, which helps streamline operations and keeps players satisfied.

Payment Method Diversity

While Skrill is best known as an e-wallet, it goes beyond that. It also supports payments via cards and even cryptocurrency. This range of options makes it a practical choice for operators aiming to cater to a global audience. Plus, these payment methods are backed by solid security measures.

Fraud and Risk Management

Skrill takes security seriously. With two-factor authentication in place, users benefit from an added layer of protection, ensuring their accounts remain secure.

Pricing Considerations

Skrill’s fee structure is straightforward. Deposits come with minimal charges, withdrawals cost €5.00, and transactions include a 2.9% fee plus a fixed amount. These costs are worth considering for operators evaluating their payment processing options.

Strengths and Weaknesses

Each payment provider brings its own set of benefits and limitations. Understanding these aspects helps operators make well-informed decisions tailored to their specific needs.

Fluid stands out by using AI-driven personalisation to customise payment journeys, boost conversion rates with real-time insights, and integrate seamlessly with your brand. It also prioritises security with advanced fraud detection, all within a mobile-first design. Fluid operates on a bespoke pricing model. Analysing these strengths and challenges is a key step in identifying which solution aligns best with your operational goals.

Key factors like transaction speed, variety of payment methods, integration complexity, security measures, and pricing structures significantly influence player satisfaction and regulatory compliance. It's especially important to evaluate these elements in highly regulated markets like Malta, where robust security features are non-negotiable. Matching these requirements with your team's technical expertise and project timelines is essential.

This breakdown serves as a starting point for selecting a provider that meets both regulatory requirements and player expectations.

Conclusion

Selecting the best iGaming payment provider depends on your specific needs and goals. As highlighted in our comparison, each provider brings unique strengths tailored to different operator requirements. Navigating Malta's complex regulatory environment means finding solutions that seamlessly combine compliance with operational efficiency.

Players today demand fast deposits and quick withdrawals, especially in regions where e-wallets and cryptocurrencies dominate. If you're targeting a younger demographic or crypto-savvy audience, prioritising providers that support these payment methods is essential.

Under Malta Gaming Authority (MGA) regulations, security and compliance are non-negotiable. Advanced fraud detection powered by AI not only protects your revenue but also builds player trust. For operators managing high transaction volumes, choosing a provider with strong, built-in fraud prevention measures is critical.

The ease of integration also plays a significant role in your time to market. Operators with limited technical resources should look for providers offering quick, straightforward integration with minimal development requirements. On the other hand, larger operators with dedicated IT teams may prioritise flexibility and customisation over simplicity. Clear and transparent pricing further simplifies the decision-making process, while bespoke pricing models may suit operators handling higher transaction volumes.

Beyond meeting compliance and speed expectations, personalisation can greatly enhance the player experience. AI-driven payment systems that adapt to individual player behaviours can significantly boost conversion rates, particularly during deposits. For operators aiming to maximise player lifetime value, these advanced features should weigh heavily in their choice.

Ultimately, your decision should align with your business’s stage, target audience, and growth strategy. New operators launching their first platform might prioritise ease of use and transparent pricing, while established brands expanding into international markets will require robust multi-currency support and advanced analytics. Before committing, test the integration process, assess the quality of documentation, and gauge the responsiveness of customer support. The right payment provider won’t just be a technical solution - it will be a strategic partner in driving your growth forward.

FAQs

What should iGaming operators in Malta look for when selecting a payment provider?

When selecting a payment provider, iGaming operators in Malta need to focus on regulatory compliance to align with local laws and licensing standards. It's crucial to ensure the provider facilitates secure transactions, incorporates strong anti-fraud systems, and complies with stringent AML (Anti-Money Laundering) and KYC (Know Your Customer) requirements to operate smoothly within Malta's regulated framework.

On top of that, choose a provider that supports multi-currency options, especially the euro (€), and offers seamless integration for smooth, user-friendly transactions. Fast processing times are another key factor, as they can greatly improve player satisfaction. A provider with a broad global reach and solutions tailored to Malta’s market can further streamline your platform’s payment operations and help you serve your audience effectively.

How does AI-powered personalisation in payment systems improve player satisfaction and boost conversion rates in the iGaming sector?

AI is reshaping payment systems in the iGaming world by introducing personalised payment options, real-time rewards, and customised experiences that match what players prefer. These features do more than just improve user satisfaction - they help establish trust and keep players coming back for more.

On top of that, AI studies player behaviour to identify the best times for transactions, making payments smoother and hassle-free. By simplifying the process and catering to individual preferences, operators benefit from more deposits, better player retention, and higher conversion rates.

What compliance and security standards must payment providers meet under Malta Gaming Authority regulations?

Payment providers working under the Malta Gaming Authority (MGA) regulations are held to high standards of compliance and security. These rules are designed to create a safe and transparent gaming environment. Here's what they entail:

• Strong AML and KYC protocols: Providers must carry out detailed customer checks and monitor transactions to combat money laundering and fraud.

• Secure data handling: Protecting sensitive player information and payment details from breaches is a top priority.

• Routine audits: Regular system audits and vulnerability tests are mandatory to ensure systems remain reliable and secure.

• Clear financial practices: Operators are required to keep player funds separate and maintain accurate transaction records.

• Prompt incident reporting: Any security issues affecting player data or access must be reported to the MGA without delay.

By following these guidelines, payment providers not only comply with MGA regulations but also build trust with both operators and players.