As the gaming industry shifts from traditional casino floors to online platforms, the associated risks have also evolved. Where once the concerns were about earplugs and counterfeit chips, the digital era now faces threats such as denial of service attacks, advanced hacking techniques, and user account fraud.   

That is why security is a paramount concern in the iGaming industry, where large sums of money are transferred daily across borders and platforms. As Ariyo Aboumahboud, Chief Business Development Manager of Infipay Tech, highlighted during a recent interview at SiGMA Asia, “The most important thing in the fintech, in the iGaming, is the service, can legally work and be stable.”  

The crucial role of security in iGaming payments  

Infipay Tech, a payment service provider, is keenly aware of the risks associated with iGaming transactions, including scams, fraud, and money laundering. To mitigate these risks, the company has implemented several security measures. Aboumahboud explained, “What we had provided was manual KYC checking, but now we are moving to the automated verifiers, KYC. As well as we have encrypted data to secure the data using the machine to analyse the pattern of each transaction [and] to decrease the possibility of any fraud activity, any suspicious activity.”   

Embracing crypto, blockchain, and AI  

The fintech industry is evolving unprecedentedly, with technologies like cryptocurrency, blockchain, and artificial intelligence (AI) at the forefront of this transformation. Aboumahboud believes technologies will soon dominate the financial landscape, especially in sectors like iGaming. “Fintech, same as all the technology, fintech industry is growing very fast, faster than what we expected. Everything is moving forward to the crypto, to the blockchain. I believe in five years nobody uses cash anymore. Everything goes to crypto, safe, fast, and secure,” he predicted.  

Infipay Tech is already preparing for this future by integrating AI and machine learning into its services. These technologies are being used not only to enhance security but also to improve the efficiency and user experience of their payment solutions. Additionally, the company is expanding its services to include cryptocurrency, allowing merchants to easily convert fiat to crypto and vice versa, further simplifying the payment process.  

Enhancing payment solutions through strategic bank partnerships  

A key element of Infipay Tech’s strategy involves forming partnerships with local banks across Southeast Asia. These partnerships not only help the company navigate the complex regulatory environments but also bolster the security and reliability of their services.    Aboumahboud underscored the importance of these relationships, stating, “The partnership with the banks, with the local banks and the local providers and agents, is the most important part of our business because we need to look for a bank that can trust us. It allows us to provide better services, to provide the safe service for the merchant.”