First Data has rolled out PayLucky solutions for legalized online and offline gambling and gaming, including land-based casinos, Native-American gaming, racetrack betting (pari-mutuel), lotteries and poker, among others.
With the launch of PayLucky, which offers an innovative package of comprehensive payment services all in one place and all from one source, First Data aims to tap the growing opportunity presented by large and fast-moving flow of money.
Global online gambling revenue touched $36.7bn mark in 2013, according to a report by H2 Gambling Capital.
By 2017, the US is likely to represent over 15% of revenue in this market with $2.6bn of the US player revenues generated by onshore regulated activity.
First Data online gambling and alternative markets general manager Jonathon O’Connor said that First Data exists to help its clients grow their businesses and what the gaming industry needs to grow, and serve their customers better.
"PayLucky takes the complexity out of managing multiple providers and creates a streamlined experience for the U.S. gambling market with built-in risk management protections for all parties," O’Connor added.
The new payment option will offer players instant funding access by abolishing the typically long wait for payment verification and giving financially qualified players the ability to immediately play.
It will also make payment acceptance risk-free by protecting operators with qualified players to decrease payment risk and guarantee player funding using TeleCheck Warranty ACH service.
In addition, the payment service will allow players to get their winnings fast by ensuring players can quickly access their funds through several options including an open loop or closed loop prepaid card, ACH deposit to a checking account, or paper check.