The rise of digital wallets: expert explains what players want
As the global online gaming industry evolves, payment solutions have become a critical driver of player acquisition, retention, and satisfaction. According to Online Gambling Quarterly, a magazine published by Media and Entertainment Consulting Network (MECN), debit cards — while still widely used — are increasingly being challenged by digital wallets and alternative payment methods (APMs). The report highlights that 78% of bettors consider their payment experience a key factor in deciding whether to keep wagering with a particular operator — reinforcing the growing demand for fast, secure, and localised payment options.
To explore these emerging trends further, SiGMA News spoke with Leo Romano, Chief Payments Officer at Einpays. Leo shares his perspective on the drivers behind the rise of digital wallets, the potential of cryptocurrency in regulated markets, the challenges of integrating local payment methods into global platforms, and how payment providers are adapting to meet the expectations of younger, mobile-first players.
SiGMA News: What are the key drivers behind the growing appeal of digital wallets and alternative payment methods (APMs) among players?
Leo Romano, Chief Payments Officer at Einpays: As we understand, players are increasingly using mobile apps over desktops. As a result, wallet based payments are growing faster than card or bank methods. Additionally, platforms now offer in-app wallets, points, and tokens.
Some of the key drivers are:
- Players don’t want delays. Digital wallets enable fast deposits and withdrawals, eliminating the need to wait like with traditional banks.
- Players prefer to keep their bank details secure. Digital wallets act as a protective layer, reducing the risk of card or bank fraud.
- International players can pay using their local methods, no currency issues or bank approvals required.
- A wide range of payment gateway options is available, such as UPI, Paytm, Google Pay, etc.
SiGMA News: How do you interpret the strong preference for mobile wallets in the US and Canada compared to relatively lower use in countries like France and Italy?
Leo: In the US and Canada, the higher usage of mobile wallets reflects that when technology, trust, and convenience align, people adopt new payment methods more quickly. In contrast, in countries like France and Italy, traditional habits, legacy banking systems, and slower digital transformation are limiting the adoption of mobile wallets.
The key differences are:
- People in the US and Canada are more open to adopting new technology.
- They trust mobile payments, actively use smartphones, and are comfortable linking their bank accounts or cards to mobile apps.
- Banks and fintech companies in the US and Canada support easy integration and offer fast, seamless payment services via mobile wallets. In comparison, many banks in France and Italy still rely on traditional systems and are slower to adapt.
SiGMA News: What role do you see cryptocurrency playing in regulated gaming markets by the end of 2025, considering its growing interest among global players?
Leo: It is true that cryptocurrency is expected to play an important role in gaming markets that are properly regulated.
We would like to share a few key points to support this statement:
- The main reason is that cryptocurrency allows players from any country to deposit or withdraw money quickly, without worrying about currency exchange or bank approvals.
- It offers more privacy than traditional payment methods. It also uses strong blockchain security, which reduces the chances of fraud.
- Games have started offering rewards in crypto or using blockchain tokens as part of their gameplay. This is increasing player engagement and loyalty.
SiGMA News: What are the major challenges when integrating local payment methods (like Interac in Canada or Venmo in the US) into international platforms?
Leo: We believe there are several factors involved, and we would like to share a few of them here. As we understand, local payment methods are typically designed to work only within their own country. For example, Interac works only with Canadian banks. So, it becomes difficult for international platforms to connect and accept payments from such systems across borders. Each country has its own laws, regulations, and banking systems. Therefore, international platforms must comply with local rules, which often requires time, legal assistance, and local partnerships.
SiGMA News: Security concerns are usually cited as a top barrier to deposits. What innovations are payment providers working on to enhance trust without adding friction?
Leo: This is a very common issue and a growing area of concern for everyone. The percentage of online fraud has significantly increased in the market, and users are now worried that their personal or payment information might be shared without permission or leaked.
Here are a couple of improvements being implemented:
- Biometric authentication – Methods such as Face ID, fingerprint scanning, or device-based security are now commonly used in digital wallets. The good thing is that they are fast, easy to use, and secure.
- Tokenisation and encryption – In this process, real card numbers are not stored. Instead, secure tokens are used. Even if stolen, these tokens are useless to hackers.
SiGMA News: How are providers adapting to Gen Z and millennial expectations around payment UX, especially as younger demographics increasingly engage with online betting?
Leo: This is a very good question. Gen Z and the millennial generation don’t like to wait and they expect immediate responses. As a result, providers are making deposits and withdrawals almost instant. A seamless user experience is essential for adoption among younger users. Payment UIs are now designed primarily for mobile, with clean layouts, large buttons, and easy navigation.
They also understand the importance of security, but they don’t want too many steps that irritate them. So, providers are using smart authentication methods (such as Face ID, biometrics, or 2FA with trusted devices) that feel natural while still protecting their money.
SiGMA News: India has seen rapid adoption of UPI and mobile wallets for everyday transactions. How do you see this influencing player expectations in online gaming and betting platforms operating in the region?
Leo: The younger generation doesn’t wait, they expect immediate responses, and UPI has made this possible. UPI transactions are trusted, hassle-free, and extremely fast, which contributes to a seamless gaming experience.
