Why has the gambling sector grown during the COVID-19 crisis?
Malaga, June 2020. The extraordinary situation in which we find ourselves today as a result of the COVID-19 crisis has led to a temporary sale decline in many economic sectors but has also led to an increase in others. For example, industries such as pharmaceuticals, food and technology have all seen an increase in turnover in recent months. The first two, being basic necessities industries, have seen an unprecedented rise in demand for their products, meaning that they have had to increase production to guarantee the supply to the population. When it comes to the technology sector, companies have been able to take advantage of the situation by providing services through remote working and online conferences.
However, other sectors have also been able to adapt the products and services that they offer to meet the needs of the market. In this sense, many businesses have either taken the leap into the online sphere or strengthened their existing resources in this channel in order to lessen the negative effects caused by the pandemic. According to statistics provided by Easy Payment Gateway, the Spanish payment services and fraud management aggregator, their clients saw a 10% growth in transaction processing volume compared to the data from the previous month. This was especially evident within the gambling sector, in which companies have managed to increase their sales during this period thanks to their vast presence on the internet.
Over the past few weeks, Easy Payment Gateway has been able to observe how many of their customers – especially those in the gambling sector – have asked them to manage their expansion into other markets like Latin America, Asia and some African countries. “Offering products or services in other countries require a wide variety of payment options, so as not to lose sales in any region” warns Manuel Prieto, CEO of Easy Payment Gateway. “The more payment options that a business in any sector can offer, the easier it will be for the customer to find an option that fits their needs, and therefore, the easier it will be to complete the purchase process”, he adds.
In fact, according to Modularbank data, 83% of UK consumers say that payment technology is a key criterion when making purchases online. In addition, 42% admit that they would abandon a high-value transaction if their favourite payment method were not available.
Thanks to the one-of-a-kind technology provided by this Spanish company, it is possible to offer the customer a wide range of payment methods to ensure that their preferred option is available, thus improving their shopping experience which is reflected in increased sales. The Easy Payment Gateway platform offers customers 240 suitable payment methods, of which 190 are alternatives. In addition, they work with 35 bank card processors worldwide, facilitating local payment in many different parts of the planet, all with a single integration.
“In this extraordinary situation, you have to look for solutions that bring in business and help to promote growth, always considering the varying characteristics of each sector. At Easy Payment Gateway, we have a unique, user-friendly payment technology that helps to finalise transactions, and facilitates internationalization,” concludes Manuel Prieto.
