How digital wallets and e-cash are powering the experience economy

The rise of the experience economy has fundamentally changed how consumers engage with entertainment, gaming and sports betting. More than ever, people expect convenience, security and speed when making digital transactions. For merchants operating in these verticals, adopting flexible payment solutions is no longer optional—it’s essential.

 

Skrill, a digital wallet, and PaysafeCard, an e-cash payment solution, are leading the charge, offering frictionless payment experiences that align with consumer preferences. By streamlining deposits, withdrawals and transactions, these solutions are driving revenue growth and customer retention for merchants in gaming, sports betting and sweepstakes.

 

Why digital wallets and e-cash matter in the experience economy

 

The experience economy is centered on discretionary spending—where consumers seek excitement and entertainment. Whether it’s funding a gaming account, placing a sports bet or entering a sweepstakes, these transactions must be quick, reliable and hassle-free.

 

Traditional payment methods often introduce friction, such as failed transactions, lengthy verification processes or security concerns. Digital wallets and e-cash solutions help solve these pain points by offering instant, secure payments that give users greater control over their discretionary spending. Skrill allows consumers to store funds, make quick transactions and withdraw winnings seamlessly, while PaysafeCard enables users to pay in cash for an online prepaid code, making it an ideal solution for those who prefer cash-based transactions or lack access to traditional banking methods.

 

Consumer demand for digital wallets and e-cash Is growing

 

Consumers increasingly prefer digital wallets and e-cash solutions for their ease of use and security. According to Paysafe’s recent Inside the Wallet study, 32% of global consumers reported using digital wallets more frequently than they did a year ago, and 12% said the same about e-cash. This growing adoption signals a shift in payment preferences, particularly among digital-savvy users who engage in gaming and betting.

 

Offering these payment options isn’t just about convenience—it directly impacts business performance. The same Paysafe report revealed that 43% of consumers have abandoned an online shopping cart because their preferred payment method wasn’t available. For merchants, failing to support digital wallets and e-cash solutions can mean lost sales, reduced customer engagement and missed growth opportunities.

 

Security and compliance: a competitive advantage

 

In high-risk sectors like gaming and betting, security and compliance are top priorities. Consumers need assurance that their funds and personal information are protected. Skrill and PaysafeCard address these concerns by implementing multi-layered security protocols, including identity verification, fraud prevention and regional regulatory compliance.

 

PaysafeCard provides additional privacy benefits by allowing consumers to make purchases without sharing bank account or credit card details, reducing exposure to fraud. Meanwhile, Skrill ensures secure transactions through encryption and fraud detection, protecting both merchants and users.

 

By handling security measures upfront, these payment solutions minimize transaction friction while ensuring compliance with industry regulations. This translates into higher approval rates for transactions, fewer chargebacks and greater consumer confidence—benefits that directly impact a merchant’s bottom line.

 

Enhancing merchant growth and customer loyalty

 

Beyond security, digital wallets and e-cash help businesses drive revenue and long-term customer loyalty. Skrill facilitates seamless transactions that keep players engaged, allowing merchants to offer instant deposits and withdrawals—critical factors in gaming and sports betting. PaysafeCard, by offering a simple cash-based online payment method, attracts users who prefer prepaid solutions and expands merchant reach to a broader audience.

 

Merchants using Paysafe’s solutions report higher conversion rates and customer retention. When consumers trust that their payments are quick and reliable, they are more likely to return to the same platform. This creates a cycle of repeat business, increasing lifetime value and brand loyalty.

 

The future of payments in the experience economy

 

As digital transactions continue to evolve, digital wallets and e-cash solutions are set to play an even bigger role in the experience economy. Innovations in embedded finance, AI-driven fraud detection and cross-border transactions will further solidify their place in gaming, betting and entertainment.

 

For merchants looking to stay ahead, integrating digital wallets and e-cash solutions is no longer a luxury—it’s a strategic necessity. Businesses that prioritize secure, seamless payment solutions will not only meet consumer expectations but also position themselves for sustainable growth in an increasingly digital world.

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To find out more, visit www.paysafe.com

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by Bob Legters, Chief Product Officer, Paysafe