Many businesses start out searching for a Stripe payments company, hoping to plug in a sleek solution and start processing transactions immediately. But for gambling, betting, and iGaming operators—especially in Europe, the United States, and Turkey—the reality is more complex. Stripe does not support high-risk industries, and iGaming businesses must turn to more specialized payment methods and partners.
Why Stripe Isn’t an Option for iGaming
Stripe’s official policy prohibits the processing of payments related to gambling, skill-based gaming for money, or any form of lottery. This makes Stripe effectively unusable for online casinos, betting platforms, fantasy sports, and other real-money gaming projects—even when they’re fully licensed and regulated.
How Do iGaming Customers Pay without Stripe Payments Company?
iGaming platforms need to offer a wide range of payment options to serve players across different regions and preferences. Here’s an overview of the most commonly used methods:
- Credit and debit cards: Still popular in many markets like the EU and U.S., but often require special acquirers for high-risk processing.
- Bank transfers (SEPA, SWIFT): Preferred in Europe and Turkey for withdrawals; however, onboarding can be slow without the right partner.
- E-wallets: Widely used in iGaming for both deposits and payouts, often offering instant transactions.
- Cryptocurrencies: Gaining ground due to lower chargeback risk and more flexible compliance requirements.
- Local payment methods: In Turkey, options like Papara or Turkish bank cards may be necessary; in the U.S., ACH or eCheck can be required.
The player’s payment journey typically involves choosing a method, verifying identity, and processing the deposit instantly or within minutes. However, ensuring all this runs smoothly behind the scenes is anything but simple.
The Real Challenge: Onboarding and Compliance
Even when you’re not using a traditional Stripe payments company, onboarding with alternative providers is rarely straightforward. iGaming operators often face:
- Extensive KYB (Know Your Business) and KYC (Know Your Customer) checks
- Proof of licensing and legal documentation for every market served
- Risk classification hurdles — banks and PSPs may label your business as “too high-risk”
- Volume restrictions or limited currencies during early-stage onboarding
- Delays in approval that can last weeks or even months
Each PSP has its own list of prohibited markets, document requirements, and technical onboarding processes. This is where having the right partner is crucial.
How WiseAlt Helps Navigate the Maze
At WiseAlt, we specialize in helping iGaming, gambling, and betting businesses overcome these barriers. We don’t just connect you to payment providers—we guide you through the entire process:
- Selection of optimal regional payment methods based on your audience
- Preparation of KYB/KYC documentation that passes compliance checks
- Technical integration and multi-currency setup
- Offshore and European account structuring when needed
- Support in launching crypto and alternative payment channels
With WiseAlt, your business doesn’t get stuck in the long queue of rejected applications. You get a tailored, compliant payment setup ready for real players.
Contact WiseAlt today for a consultation and get expert help onboarding to the right payment providers for your high-risk business.
