Paysafe to Launch Unified Platform for Sports Betting in US

A multinational online payments company, Paysafe Group Limited, is getting ready to introduce a brand-new product for the thriving US sports betting market.

The global payments provider is looking to unite an array of payment solutions and enable their integration via single API. This new platform will help iGaming operators to expand their business across the whole country, but it will also assist those states that are still opening up to legal sports wagering.

Combining Payment Integrations

Thanks to the Group’s single integration technology solution, operators will be able to exploit the platform’s full potential and implement all services at once, including payment processing, acquiring, digital wallets like Neteller and Skrill, along with paysafecard – an online payment method for fast transfers without the use of a bank account.

Karim Ahmad, chief product officer at Paysafe, reveals why it’s so important to have a unique payment product for the US sports betting market:

“Players want payment options which are seamless and secure, and which they don’t notice. Whether it’s traditional payments, digital alternatives or future innovations, it needs to be effortless.”

Apart from offering improved customer experience, the company’s new API (application programming interface) even includes a business portal for easier payment management. Player conversion and retention should also reach new heights, since one of the company’s recent studies has shown that the number of methods for deposits and withdrawals is a “key differentiator” when choosing a sportsbook.

Approximately 23 percent of bettors across the United States supported the thesis, while 42 percent of them expressed interest towards entirely new banking methods. The remaining 26 percent or so would continue using traditional methods such as credit cards.

Streamlined Checkout

Equally important, the Group’s new single integration feature offers a “streamlined player checkout experience” allowing players to pick several ways before cashing out.

In addition, the company’s technology can even allow operators to integrate other mainstream payment options and access analytics, financial reporting as well as reconciliation services.

The 2000-founded payment service has introduced fresh standards to US iGaming in November 2018, when it formed a strategic partnership with Worldpay. Since then, both companies have invested in market growth by leveraging industry-leading services and digital payment solutions.

Shane Happach, head of Global Enterprise eCommerce for Worldpay, commented on that occasion:

“As a leading payments provider for iGaming companies, state lotteries, and land-based casinos, Worldpay is excited about the enhancements this partnership will bring when it comes to maximizing payment acceptance, enabling new digital wallets, as well as minimizing fraud risk and lowering cost.”

Paysafe offices are located in the Isle of Man and its main subsidiaries are also Netbanx and TK Global Partners LP.

Source:

“Paysafe looks to US sports betting with new payment integration”, Chris Murphy, sbcamericas.com, February 11, 2019.

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