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How we increase gambling business net income by €15 000

How we increase gambling business net income by €15 000

As your business expands, the payment setup gets more complex, forcing you to wade through payment issues instead of focusing on growth. It all gets twice as hard if you run a high-risk business. 

That’s why we decided to share the latest success story of one of our gambling clients. It proves that with the right partner any payment hassle can be solved swiftly and cost-effectively. 

Client’s setup and payment challenges

The client whose story we’re about to inquire into is a company from Europe that works in the online gambling industry. Its average monthly turnover is about 200k euros. 

The payment setup it has in place comprises eight acquiring banks and payment service providers (PSPs). Integration with each one has taken an ungodly amount of resources, but managing them all afterward ended up being quite a challenge in and of itself. Primarily, that’s because each one has its own dashboard and conditions. Before approaching Ikajo, the company had to keep many things on each PSP and acquirer in mind: the payout schedule, fees they charge, rolling reserve they place, and so on. 

Moreover, since the company serves foreign customers, it has to support multiple currencies for their convenience. Having different processing currencies posed the challenge of ensuring all the requests and invoices in a particular currency go to the pertinent merchant account. Besides, it was crucial to continuously maintain sufficient balances in every currency. 

The company struggled to control its own payment processes due to the dispersal of its setup. It’s impossible to be logged into eight dashboards simultaneously and monitor dozens of transactions going through each one every minute. That’s why it occasionally suffered from PSPs downtimes and errors. All in all, it resulted in not-so-great conversion rates. 

Solutions suggested by Ikajo

The situation in which the client has found itself before partnering with Ikajo wasn’t of any surprise to us. Having years of hands-on payment expertise, we knew exactly how to deal with it and suggested the company’s representatives opt for a Cashier solution. They agreed, and by doing so, here’s what they managed to reach:

  • All the payment information is gathered in one place. Cashier collects all the data from PSPs and acquirers and conveniently displays it on a single dashboard, making merchant accounts management and transactions control & reconciliation much more efficient. Previously, this job has been done manually by three people in the client’s team. Now, a single person handles it, which allows our client to relocate human resources to other business tasks while saving 4k euros per month. 
  • To make that one person’s job even easier, we provided the opportunity to timely detect any issues occurring on the providers’ side and switch the payment traffic to a different MID when needed. 
  • The platform also allows our client to quickly compare the records and make sure there’s no discrepancy in partners’ processing and service charges. 
  • Connecting new payment methods and partners by simply clicking a mouse. Containing dozens of ready-made integrations with global PSPs and acquirers, Cashier allows our client to connect any of them in a few clicks and with no need to involve developers. Instead of wasting tons of resources and time on a new integration, it now takes from one to three days. 
  • Set up routing and priorities for MIDs depending on various parameters. In case of a soft decline at the first PSP, a transaction can be seamlessly forwarded to an alternative one. As a result, the client witnessed a 30% increase in conversion rates and considerably lowered the decline fees. 
  • Cashier allowed our client to solve all the hassles of having multiple processing currencies. Requests are now made in a currency that the company prefers, while banks receive requests in the needed currency. 
  • Being always aware of impending payouts. We integrated the payment calendar for our client. It’s a solution that makes tracking providers’ payout schedules a piece of cake.

Talking numbers

Cashier ingographics

An increase in conversion rates and optimized costs allow the company to receive additional 15k euros of net profit every month. It means that for this particular client, Ikajo’s Cashier solution completely recouped itself in less than two weeks. 

Need a hand?

If your business struggles to handle payment management, or you’re planning an expansion and want to extend your payment setup in a smart way, get in touch with us. We’ll answer all the questions you may have, help you find the right solution, and make the tailored calculations for your business. 

If still in doubt, try our turnover growth calculator and find out how your company can benefit from working with us.

Monthly turnover 0
200k 3m
Payment connectors 0
1 30
Aproval Ratio 0
0% 100%

With Ikajo Cashier Software

Estimated turnover: 500 000 (+20%)
Cashier payback period: 16
Book a demo

 

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