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October 5, 2021

PayNearMe unveils platform to power iGaming payments

By Shalini mani

PayNearMe has unveiled a new platform to expedite end-to-end money movement for iGaming and sports betting operators.

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Dubbed MoneyLine, the new platform is claimed to enhance the complete iGaming payment experience while minimising operator costs and boosting player satisfaction.

The platform is designed to streamline deposit flows and accelerate payouts. It also offers insights to enable operators improve workflows and expand customer base.

PayNearMe chief revenue officer and general manager Michael Kaplan said: “Deposits and payouts are the most crucial touchpoints operators have with their players. When there is friction at these touchpoints, players drop off and operators lose revenue.

“MoneyLine removes the friction, enabling operators to give players what they want — easy, fast deposit and payout experiences.”

MoneyLine offers players a range of deposit choices, such as cash, cards, ACH as well as mobile deposit options.

They will be also able to make one-tap deposits from text, email or push notifications utilising PayNearMe’s Smart Link solution.

Furthermore, MoneyLine enables players to deposit and withdraw cash from their online accounts while onsite at brick-and-mortar facilities.

MoneyLine is already being used by PlayLive!, an online casino affiliated with Live! Casinos & Hotels in Philadelphia and Pittsburgh, in Pennsylvania.

PayNearMe has licence to offer iGaming transactions in 15 US states.

The firm is working with regulators to expand its gaming footprint as iGaming become legalised in more US states.

Earlier this year, Canadian payment firm Nuvei received approval to process sports betting and iGaming payments in Michigan.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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