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With the purpose to provide a stable, safe and secure payment option for iGaming and sports betting, Paysafe and Worldpay have united. Their aim is to provide an industry’s leading standard in sports betting and iGaming digital payment acceptance and high security in the United States.
Following the removal of the ban for offering sports betting and online gambling services in several states, the demand for safe, fast and trustworthy payment methods has increased. These two global payment providers have decided to provide the online gambling world precisely that: a payment option they can trust in.
The US iGaming is in a phase of significant growth following the US Supreme Court’s decision to authorise sports gambling earlier this year, making the potential market opportunity for these two giant companies massive. Based on the American Gaming Association's report, the US sports betting market is forecast to be $150 billion in gross offline and online gaming revenue. In fact, it could become the largest, most powerful betting market in the world, so Worldpay and Paysafe’s partnership will be exclusively focused on the US Sports Betting and iGaming market. Their competitive operations in other territories and industries will not be impacted or changed in any way.
What Will This Payment Option Offer?
Considering both party’s aim to boost payment choice range of players, which will ultimately lead to better retention and conversion, the US crafted solution is expected to deliver smooth and uninterrupted connectivity, all via a single integration point, extensive-ranging payment options and services such as digital wallets, ACH, credit card processing solutions and almost instant push-to-card and cash payments.
It is widely known that the Paysafe Group is already well-established in the online gambling industry, with over 20 years of experience, as it provides online gambling digital payment, which is something really useful for the online casino players. Its Neteller eWallet and Paysafecard online cash payment options are being used more than any other payment option in the last decade. They provide fast and secure transactions, and this is something every online casino player needs.
On the other hand, Worldpay’s fast-fund payouts, optimised credit card processing and a range of payment solutions and treasury will allow seamless transactions, will reduce the operating cost and will allow universal payment acceptance.
The Statement Issued by Paysafe Group’s CEO
The CEO of Paysafe Group, the group that offers players Neteller, Skrill, Paysafe: cash, Golo and Paysafecard, commented that with this partnership Paysafe and Worldpay will be able to satisfy the needs and demands of players and iGaming operators in the US, providing them with a cost-effective, secure and highly configurable payments platform. This platform will deliver an unrivalled online gaming experience for the player.
Expressing his excitement for once again getting behind a growing sector, Paysafe’s CEO Joel Leonoff explains that this partnership will make transactions of any type possible, since their innovative approach will support all transactions, no matter how much the player is comfortable to pay in order to play.
Paysafe connects consumers and businesses across 200 payment types in more than 40 currencies and countries around the world. Via its integrated platform, Paysafe offers mobile-initiated transactions and the convergence between land-based and online casino payments. Its core aim is to enable seamless transactions through industry’s leading online cash, digital wallet, payment processing and card issuing solutions.
Worldpay’s Statement
Worldpay completed the combination with Vantiv to form Worldpay, Inc. on January 16, 2018. With this move, the company became even stronger and globally-recognized, and Worldpay, PayPal, Square and Globalpayme payment options’ reputation grew even more.
Shane Happach, the Head of Global Enterprise eCommerce for Worldpay commented on the partnership with Paysafe, saying that as a leading payment method provider for iGaming companies, land-based casinos and state lotteries, Worldpay is extremely excited about the enhancements the partnership will bring for maximising payment acceptance, minimizing fraud risk, enabling new digital wallets and lowering the cost of the services for the iGaming industry.
He added that Worldpay and Paysafe’s combined capabilities and strengths will simplify gaming operators’ payments, while also continuing to show their focus on responsible gaming and their mission to protect and secure the integrity of every transaction.
Worldpay powers global Omni-commerce and with its integrated technology platform, it offers a rich suite of services and products through a single provider.