It may seem a simple concept, but payments are fundamental to the igaming customer experience. Being able to seamlessly and securely make deposits and withdrawals is essential for customers to feel like a platform is enjoyable and safe, so for operators it is imperative to find the right partner.
Finance Incorporated Limited (FIL) is one such company that provides an all-in-one payments solution for igaming operators. The firm provides traditional IBAN accounts and fast payments via the SEPA payment system and SWIFT and is growing its Acquiring and Issuing unit, run by experts who are committed to outstanding service, out-of-the box solutions and long-lasting relationships with merchants.
FIL allows businesses to accept e-commerce, mobile, and point-of-sale payments and issue their own branded Mastercard cards, which they can easily manage through FIL’s white label solution portal.
Jurate Kajackiene, FIL’s VP of Acquiring and Issuing and Business Development, tells Payment Expert about her multifaceted role in leading a high-growth business division amongst a wider umbrella.
“My role is to lead and orchestrate the acquiring and issuing business lines of FIL” Kajackiene states. “I drive acquiring business expansion into cross-border markets and go-to-market plans across all card product lines along with my role to grow and maintain strong business partnerships, identifying mutually beneficial opportunities in acquiring and issuing products, including but not limited to technology partners, ensuring global payment acceptance reach through various payment market players, and in collaboration with VISA and Mastercard.”
“Whether it is our acquiring or issuing, our strategy is to scale business in cooperation with other payment market players and through the integration with multiple platforms, where FIL comes as an enabler of major payment methods such as VISA and MasterCard acceptance and more”, Kajackiene adds.
FIL is licensed by the Malta Financial Services Authority and has been servicing the igaming industry for a decade. It aims to provide a true alternative to traditional banks for igaming clients through its intimate knowledge of the sector. Kajackiene is aiming to use this readily proven strategy to continue the acquiring business’s growth,
“The industry is still discovering us as an acquiring business, as we are a new player in the market being principal members of both VISA and Mastercard for acquiring services,” Kajackiene explains. “But this means we come with an individualised approach, where unique needs of the client are priority, which needless to say, are different per industry and depend on business life cycle.
“We are positioning ourselves as a boutique acquirer because we are willing to provide customised payment solutions for businesses from diverse industries and unique, sometimes complex business models.”
FIL’s confidence in its ability to be an alternative does not only emerge from the determination of its leadership, but stems from its technical capabilities ranging from delivering omni-channel payment solutions to controlling risk and fraud to delivering higher conversion ratios’, demonstrating its flexibility to work seamlessly with merchants and clients across the globe.
In the competitive igaming environment, online gaming operators prioritise user experience. This includes offering a variety of payment options to cater to diverse customer preferences. For Kajackiene, enablement of Latin America region payment methods is the next big regional target now that the technical capabilities are in place.
“Our technical capability allows us to provide all the tools to accept payments online and in- person from customers around the world. In addition, our platform maximises conversion and reduces fraud using machine learning along with other functional capabilities, such as dynamic billing descriptor, agnostic, intuitive and performance driven strong customer authentication, automated pricing adjustment connected to players risk rate alteration.”
Throughout her chat with Payment Expert, Kajackiene came back to her label for the company – boutique. To be a truly unique boutique brand, one must be aware of the intricate needs of each individual client so that tailored solutions can be found. Kajackiene notes that FIL can work with smaller merchants, startup operators or some of the biggest operators in the industry.
She explains: “Startup operators might need guidance and advice in compliance-related matters. At the same time, they might be looking for the risk related solutions and fraud and chargeback management, because it is a very crucial element. Meanwhile, well-established players, who are already in the bigger processing volumes might be interested in working with us because it’s the nature of the business where they need to split and divert payment processing volumes through the various acquirers.”
FIL is seeking to put itself on the map when it comes to its acquiring and issuing solution, and a key strand of its strategy for this is attending SBC Summit in Lisbon in September.
FIL, which operates the brands Paymix Pro, iPaymix, Paymix VIA and Paymix SoftPoS, will be attending SBC Summit in Lisbon to exhibit its igaming-specific payment solutions issuing in its quest to be a ‘one stop shop’ for the igaming industry.
Ultimately, FIL understands how essential the payment journey is to operators in providing a positive player experience.
“It is one of the most important parts of the whole business model,” Kajackiene asserts. “If the customer is not happy, then business becomes more difficult. Payments are undeniably part of the customer experience, particularly online, where speed and efficiency are required.”
As Kajackiene concludes: “We are ready to offer our solutions for any igaming companies, irrespective of which business cycle they are in.”
