Financial System Visa for Sportsbooks: Network of Safe Operations

It is hard to imagine a profitable bookmaker project without fast and secure transactions. An entrepreneur needs to pay out winnings to betters, transfer bonuses, and make settlements with B2B partners promptly. Similar services are offered by Visa, the number 1 financial service in the world.

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Brief Information about the Company

Visa International Service Association is a global payment service that operates in above 200 states and connects more than 1.8 billion points of sale.

The Key Development Milestones

Consider the main stages of the company’s formation:

Year	Description
1958	The founding of the organisation by the leading US institution Bank of America. It began to issue blue-white-gold BankAmericard cards. They became the prototype of modern prepaid cards
1972	The sale of the world's first licence to produce branded cards by other banks
1976	The rebranding of the organisation with a new name — Visa. The motive for the changes was the desire of the owners to enter the promising European market. It was difficult to do this with BankAmericard cards. Their name had a reference to a large US bank, which supported the Vietnam War at that time
1988	The registration of the first Visa plastic cards in the USSR. They were issued to members of the Soviet team who were going to the Summer Olympic Games in Seoul
2007	The change of the company’s name to Visa Inc. The Association became the holder of all transaction licences, trademark rights and technologies. The corporation was founded in the USA (Foster City, California)
2008	The establishment of a subsidiary of Visa Europe Services Inc headquartered in London (the United Kingdom). Visa Europe Services Inc. took over the operational customer service. Entrepreneurs will be interested in the integration of the Visa payment system into bookmaker sites, online casinos, marketplaces, online stores, and mobile apps for the provision of various services
2012	The presentation of a convenient mobile application compatible with all browsers and operating systems
2014	The launch of the Visa payWave program for fast and secure contactless transfers
2017	The creation of a contactless service Apple Pay for mobile purchases

Financial Performance

The Visa system for betting shops, online casinos, and other commercial organisations ranks second in terms of transactions per year. The leadership is held by the Chinese conglomerate UnionPay. The list of the largest financial services also includes MasterCard and American Express.

Here are the key facts about the company's activities:

• $24.1 billion — operating revenue in 2021;
• $12.3 billion — net income in 2021, taking into account the payment of all taxes and deductions to the budget;
• $8.3 trillion — average annual turnover on bank cards;
• over 2 billion — the total number of prepaid, debit, and credit cards issued by the firm;
• more than 17 thousand — the number of independent financial institutions connected to the Visa system.

Organisational Structure

The Visa financial program for bookmakers covers the whole world and is divided into six key regions:

• AP Region — Asia-Pacific;
• Canada Region;
• Visa CEMEA — Central and Eastern Europe, Africa;
• Visa Europe — Western Europe;
• LAC Region — Latin America;
• US Region.

The Nuances of the System’s Operation in the Betting Industry

The Visa gambling payment module functions simply and smoothly:

1. The acceptance of an application for replenishment of a game account. To deposit money on a bookmaker site, a better should enter the card details in a special form. To do this at land-based sale points, it is necessary to bring a plastic card to the POS terminal. It can work independently or be part of gaming equipment (for example, a betting machine).
2. Transfer request processing. The program generates a payment request and sends it to the acquiring bank serving a sale point (a site or a stationary establishment). Then, the application automatically migrates to the bank that issued the client's card. The required amount is instantly deducted from the player's account.
3. Sending a report to the processing centre. The transaction data is returned to the terminal or a bookmaker site. Information is sent in encrypted form using proven cryptographic algorithms. After debiting the money, a better can print a check and see the funds on the personal gaming account.

The installation of the money transfer system Visa for betting projects gives an operator a tangible advantage — fast transactions with the maximum level of security. The payment service functions as a link between issuing and acquiring banks, guaranteeing instant funds transfer.

VISA interacts with over 3 thousand institutions. These are Privat24, Raiffeisen Bank Aval, CNB Bank, and others.

The integration of the payment system Visa for bookmakers is interconnected with a powerful processing centre. It is responsible for all technical communications between the parties of transfers. The service ensures high security of transactions.

The company owns a unique VisaNet processing centre that unites millions of retail points into a single global network. Every year, the program conducts 100 billion operations worth several trillion US dollars.

VisaNet’s throughput is over 30 thousand transactions per second.

The integration of the gambling payment system Visa automatically connects an operator with one of the four data processing centres. Two of them are located in the USA and the others are in Singapore and London. The centres are reliably protected from natural disasters (floods, tsunamis), technical failures, and incompetent actions of personnel.

Branded Bank Cards

The provider issues three types of cards:

1. Debit. When replenishing a game account, the money is debited directly from the bank account without the use of credit funds. Card issuance is usually free. Tariff plans depend on the policy of the issuing bank.
2. Credit. You can deposit money into a bookmaker's account using microloans. Funds are given at a minimum interest rate. There is a practice of issuing interest-free loans. However, a user should repay the debt within a month.
3. Prepaid. These are anonymous plastic or virtual cards without being tied to a bank account.

To integrate the Visa payment system into a betting site, an operator needs to issue at least one plastic or virtual card. It will be used for accepting money from players and settling with B2B partners. These are hosting providers and suppliers of software and equipment for betting shops, as well as franchisors.

The following options are available to entrepreneurs:

Title	Description
Visa Classic	This is an embossed card. During a transaction, mandatory identification is not required. It is possible to confirm the transfer by voice authorisation
Visa Electron	The solution is characterised by minimal commission deductions from an operation and mandatory authorisation before sending funds Most often, debit cards are issued. However, options with access to borrowed funds are also available
Visa Gold	The premium segment card supports additional services. These are asset insurance, legal advice, round-the-clock support, discounts, and savings programs
Visa Platinum	The solution is marked by an increased credit limit (up to $10,000 per month). This option will be useful for beginner bookmakers with a small monthly turnover. Visa Platinum holders can participate in branded discount programs IAPA, Hotel Express, Priority Pass, and Simple
Visa Virtual	The virtual card is used exclusively for online transactions. These are the payment of prize money, the distribution of bonuses, settlements with B2B partners, and other operations

Useful Innovative Services

The Visa Association actively invests in the development of advanced solutions for businesses and individuals:

1. Visa payWave. The tool is utilised for contactless payments in land-based betting shops. A user brings a plastic card to the self-service terminal or bookmaker machine instead of inserting it into the device or passing it through the card reader. The technology is based on the international standard ISO/IEC 14443 (contactless integrated circuit cards) and is compliant with EMV (cards with embedded chips).
2. Tap to Phone. This solution is designed for fast and secure transfers using a mobile device. The Tap to Phone technology turns an Android-based smartphone with an NFC module into a modern payment terminal. The program will be relevant for land-based gambling halls. The integration of Tap to Phone from the Visa financial system will reduce the cost of purchasing and maintaining cash register equipment.
3. Visa Direct. The software is used to transfer money to billions of endpoints on cards and accounts around the world. The solution will be useful for the quick distribution of bonuses, returning cashback, and the conduction of other payments as part of a bookmaker's branded loyalty program. The connection of the system Visa Direct to a wagering site provides for simplified real-time validation of transfers. As a result, funds are credited to a recipient's account faster.

High Security of Confidential Information

One of the main reasons to connect the payment service Visa to a bookmaker project is the high security of transactions and the personal information of customers.

Card Protection Levels

The main security elements of plastic cards are as follows:

1. A dove hologram. It must be placed on the front or inside of the card. Additionally, the provider applies an element that is only visible under UV light.
2. Unique 4-digit number. The first 4 digits of the card number must correspond to the account number associated with it. If the figures are different, the card is fake.
3. The cardholder’s name. It is automatically compared with the signature (it is placed on the back of a card, hidden under a special magnetic stripe).

Safety during Operations

The company has developed the proprietary service Verified by Visa (VbV) for secure online transactions.

The solution provides for an additional verification level, which is activated during a transfer. A better should confirm the identity by entering a one-time password from the SMS notification or approving the operation through a voice call.

The installation of the Visa money transfer system into a bookmaker site complies with the requirements of the standard PCI DSS. The company is certified as a first-tier financial services provider with a minimum annual turnover of $6 million.

How to Connect the Gambling Payment Service Visa and Gain Benefits?

The provider offers its clients to install the proprietary platform for small and medium businesses.

The system contains a wide range of tools and settings for effective management of personal and corporate finances to:

• generate extended reporting and analytics in the key areas of a bookmaker's activities;
• manage game accounts of betters;
• use a fully functional chatbot;
• participate in beneficial affiliate programs from Visa, etc.

The installation of the financial gateway takes a minimum of time and does not require any specific knowledge and skills from a bookmaker. The software integration is based on flexible API tools and SDK plugins.

The Main Things about the Integration of the Visa Monetary Transfer Service

• The system is interconnected with over 3 thousand financial institutions. They function as issuing and acquiring banks. All transfers go through a single processing system VisaNet with four data processing centres in the US, Singapore, and London.
• The company issues 3 types of bank cards: prepaid, credit, and debit, as well as several branded products. These are Visa Classic, Visa Electron, Visa Gold, Visa Platinum, Visa Virtual, and many others.
• The provider pays close attention to the protection of confidential data. The association has developed a universal identification method Verified by Visa. It includes an additional level of sender verification. The company's activity complies with the international standard PCI DSS.
• The list of the supplier’s branded services includes such options as Visa payWave (contactless transfers), Tap to Phone (receiving money via smartphone), and Visa Direct (fast multiple payments).

Bett-Market provides the following useful services:

• the development of a custom bookmaker site;
• a betting shop franchise for sale;
• the White Label program;
• marketing services for ready-made gambling projects, and others.

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