The online gaming industry in India has quickly amassed millions of users - from PUBG enthusiasts to hordes of people playing mobile games for money. In this growing fervor for online gaming, payment options have had a significant role to play.
Online gaming has taken over the country, and that is partly thanks to the contribution of the newly built payment infrastructure in India. A few years ago, gaming online and making in-app purchases with a tap or playing games for real money online would have seemed like quite a far-fetched idea, but now Indian users can easily deposit and withdraw money from gaming apps and websites.
In fact, the entire fantasy gaming sector as well as the online cricket betting market has managed to benefit immensely from the growing popularity of online payment options such as UPI and Netbanking. A large chunk of the Indian population that was previously not part of the gaming sector due to a lack of reliable payment options has now been integrated into the sector.
This is why, in this article, we are going to discuss the best payment options for online gaming in India.
1. UPI
UPI has definitely become one of the most popular payment methods in India. From buying groceries and household items in local markets to playing online poker, UPI is widely used and accepted in the country.
All payment wallets and apps now have integrated the UPI payment services, to allow Indian users to seamlessly transfer money or make payments across apps. However, it is apps such as PhonePe and Google Pay that have largely dominated the UPI payment infrastructure in the nation, with both third-party apps sharing the mammoth share of the market.
UPI apps are now accepted on all kinds of gaming apps and are also easily used on Google Play Store, making it an extremely popular payment method.
2. Indian Netbanking
Netbanking is yet another payment option that has risen to prominence in the past few years. Indian users can now very easily authorize online payments by simply logging into the mobile app of their respective banks.
Netbanking also gives you a few payment options to choose from, IMPS being the most convenient and quick payment method. An added benefit of using Netbanking is that players can also easily withdraw the money they win while playing online back to the same bank account which they used to deposit in the first place.
3. Cryptocurrency
Last but not least, cryptocurrency has arisen as the unlikely contender in the list of payment methods preferred by Indians. Due to the growing interest of people in cryptocurrencies, there has been an upward trend in the use of crypto while users are gaming online.
For example, many betting operators and real money gaming apps have now begun to accept some types of cryptocurrencies in order to make it possible for users to spend their online currencies to deposit and withdraw on their favorite online betting platforms.
