What is MuchBetter?
MuchBetter is an eWallet app payment. This multi-award-winning app-based payment wallet enables consumers and merchants to process funds in a secure, fast and efficient manner across the globe and with low fees.
MuchBetter was founded in 2017. It is owned and operated by MIR limited, an FCA licensed Electronic Money Institution (EMI), and is headquartered in Great Britain. It has offices in 7 countries, is localized in 17 languages, and the multi-device payment app (desktop and mobile) is available in 180 countries. Since its existence, MuchBetter has won several awards, including winning the “Innovation in Payments Solution” at the EGR B2B Virtual Awards 2021.
MuchBetter offers iGaming operators a unique commercial model with an innovative pricing structure that can significantly lower payment fees. In addition to providing fraud prevention, and its evolving global reach, MuchBetter supports localized payment methods, offers real-time transactions and instant payouts, and is designed to be flexible with compliance changes.
Top Software Providers that offer MuchBetter
Markor Technology
Dragonfish
BetConstruct
Integration and Functionality
It is easy to accept MuchBetter payments as a gambling operator. It starts by integrating MuchBetter into your payments page. This can be accomplished directly via the company’s API or with the help of an online gambling software provider, such as those we’ve listed above. The latter of these two options is the more convenient and straightforward choice, particularly for new online casino and betting businesses. The reason is that these providers typically offer complete and compliant payment processing solutions that include MuchBetter as well as a variety of other payment methods.
That said, if the first integration option is the one you prefer, the MuchBetter API is easy to integrate with the help of the company’s business team. Once integrated, you will be able to accept payments from MuchBetter account holders immediately. This includes providing customers with easy ways to pay across multiple platforms, including online and in-app payments. The integration also includes real-time reporting features as well as data collected on customer preferences and behaviour.
As for pricing, MuchBetter’s net monthly deposit commercial model minimizes payment processing costs for gambling operators. Fees are based on a unique industry-specific pricing structure.
How to get a business account through MuchBetter
To become a MuchBetter Merchant, you will need to complete the Merchant Partners Form.
- Go to the MuchBetter website, click “Business”, select “Contact Us”
- Provide details about you and your company (e.g. full name, phone number, email, company name, company registration number, date company was established, description of your company, address, etc.)
- Select the jurisdiction(s) where your company is licensed
- Select other payment methods your company currently accepts (if applicable)
- Submit the form
Completing the Merchant Partners Form is only the first step of the application process. The MuchBetter Business & Sales Team will get back to you regarding your enquiry. Additionally, you should be aware that anyone who applies will be required to undergo further due diligence. Only after this process is finished can the technical integration begin.
How MuchBetter functions as an iGaming payment solution
MuchBetter functions as both a deposit and withdrawal method for online and in-app payments and has been developed to readily adapt to changes in regulatory compliance. Players can download the free MuchBetter app via the App Store and Google Play Store. Additionally, European Economic Area (EEA) MuchBetter customers can request a MuchBetter Mastercard. This card can be used by players in certain EEA countries (e.g. Norway) at MuchBetter casinos that accept Mastercard.
In addition to supporting several languages and currencies, including GBP, EUR, CAD, USD and INR, MuchBetter supports localized payment methods, such as Multibanco, Sofort, Mastercard, Visa, iDebit, AstroPay and Bancontact. Payments are processed in real time securely and quickly, decreasing settlement time. Moreover, foreign exchange fees are very competitive and MuchBetter promotes rewards from iGaming merchants to its users.
Benefits and Drawbacks for Players using MuchBetter
Benefits
- Multiple ways to fund their MuchBetter account – Players can use credit/debit cards and bank transfers to add funds to the eWallet app.
- Instant and secure deposits – Players log in to their gambling account, select deposit funds, choose MuchBetter, log in to their MuchBetter account, confirm the amount they want to deposit, and use their phone to accept the transfer. Withdrawals are just as easy and are also swift.
- Access to exclusive offers –MuchBetter users can redeem exclusive offers from participating gambling operators.
- High level of security – Players have peace of mind with security features such as verification codes, device pairing and Touch ID.
Drawbacks
- Several country restrictions – Although MuchBetter is available in 100+ countries, not all online gambling jurisdictions are legally permitted to use it as a banking method.
- MuchBetter Mastercard limited availability – MuchBetter Mastercard is available only to users in the EEA.
Countries
Examples of countries where players can use MuchBetter as a payment method for online gambling include:
- United Kingdom
- Germany
- Norway
- Canada
- Brazil
- India
Safety and Security
MuchBetter is a trusted EMI that uses biometrical elements for dynamic passcode generation, phone number verification, device pairing and authentication to guarantee transaction integrity as well as customer safety.
This eWallet payment provider’s authentication methods also discourage fraudulent behaviour as well as safeguards against bonus abuse and wallet-originated fraud. Additionally, it pairs the account to the customer’s mobile device making this data available to operators, to provide insights for improved KYC due diligence and fraud protection.
Customer Support
Players can check out the FAQ on the MuchBetter websites or reach out to the company’s customer support via email or through the in-app contact form.
Merchants can peruse the FAQ, and they can also get in touch with the MuchBetter Business Team via email or via a direct contact method provided once you have fully integrated the payment solution.
MuchBetterFast Facts
- Type of payment method – eWallet app payment
- Deposit available – Yes
- Withdrawal available – Yes
- Multiple currencies accepted – Yes
- Easy integration – Yes
- Popular iGaming regions – Europe, Canada, India, Brazil
Conclusion
MuchBetter is an award-winning multi-device payment app that is gaining traction across the globe. It allows for multi-currency real-time transactions, is a great way to reach new and existing players and is a revolutionary banking method for the gaming industry. Get in touch with us today to learn more about how you can conveniently make MuchBetter a part of your payment offering.
