EPG Financial Services launches new payment app

Clients can use the app in a variety of locations, including retail and casino, being compliant with financial regulations FIAU, EBA, GGL, and MFSA. EPG Financial Services extended the accepted locations to also include large petrol stations, supermarket brands, as well as selected Gauselmann-operated entertainment venues.

paylado’s technology is enabled by Funanga, a European payments business, EPG Financial Services choosing its solutions for their ease of use, security features, and comprehensive network of point-of-sale payment partners. 

In order to load the paylado app, customers need to generate a barcode within the digital wallet, scan it at the point of sale, and the funds get instantly credited to their wallet. The barcode is exclusive to each customer and to paylado and cannot be transferred, with no financial value until it is scanned. The system was designed for the security of operators and customers, aiming to facilitate the demands of those users who like to have the option of funding their wallets with cash.

According to Funanga’s officials, the paylado team required a white-label product that is predominantly designed for iGaming. The company offers a system based on customer security, regulatory compliance, and technical value, with Gauselmann requiring a robust solution due to its input in the casino and entertainment sectors. Representatives from EPG Financial Services stated their commitment to offering customers an improved iGaming experience, with their extensive network of POS locations being essential for players to pay from several locations conveniently. Moreover, Funanga’s platform provides an embedded automated closed loop, aiming to maintain security and simplicity of use. 

Based in Germany, Funanga specialises in prepaid payments technology, and its CashtoCode platform connects to a vast network of global online merchants from various industries and payment service providers with 450,000 retail locations across Europe and international markets. In April 2023, Funanga expanded its services into Canada through a partnership with Now Prepay, planning to also launch in the US in early 2024. Through this collaboration, users can make in-store cash payments via Funanga’s CashtoCode service to purchase digital goods and top up digital accounts and e-wallets.

Moreover, at the end of February 2023, Funanga partnered with Shufti Pro to prevent and eliminate fraudulent activities using the latter’s IDV solutions. The collaboration allows Funanga to leverage Shufti Pro’s services to improve its identity verification process to avoid online threats and meet KYC, KYB, and AML regulations across all its international markets.  

EPG is a payment services company and e-money institution licensed by the Malta Financial Services Authority, operating across four offices, including Germany, Malta, Bulgaria, and Greece. The company is part of the Gauselmann Group, a German gaming and gambling company, with the group holding its first stake in EPG in 2014 but fully acquiring the company in 2018.