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Paysafe launches Pay by Bank for iGaming

Monday 29 April 2024 14:17 CET | News

Paysafe has launched Pay by Bank for iGaming, a new solution allowing online bettors in the US to instantly and securely fund deposits at operators’ cashiers. 

 

According to the announcement, bettors are able to fund deposits directly from their online bank account as well as cash-out winnings seamlessly. This product expands the capabilities of Paysafe’s Gateway, the iGaming payments solution that connects US operators to the market’s most comprehensive range of traditional and alternative payment methods via a single integration.

Paysafe has launched Pay by Bank for iGaming, a new solution allowing online bettors in the US to instantly and securely fund deposits at operators’ cashiers.

Moreover, the company added Pay by Bank to respond to the growing demand from players in the US for payment choice. The gateway already connects operators’ cashiers to Paysafe-processed card payments, the Skrill digital wallet, the Paysafecash online cash solution, and third-party payment products. Strengthening operators’ player acquisition, Pay by Bank provides their customers with another payment option that is particularly appealing to the 27% of bettors who prefer transacting via direct bank transfer. 

Leveraging Paysafe’s single-integration Gateway, online gaming operators in the US can now offer Pay by Bank to their customers, giving first-time users the ability to sync their checking or savings account in just seconds, then fund their player account securely in real-time. For returning bettors, the process is even easier, with Pay by Bank supporting one-click payments from linked accounts. Moreover, winnings can be withdrawn from players’ sportsbook accounts, with Pay by Bank enabling rapid payouts directly to linked bank accounts, again initiated through a single click. 

For operators, all Pay by Bank transactions are indemnified, reducing liability if a player’s deposit from their bank account defaults. Along with helping to drive player acquisition by providing more payment choice, Pay by Bank’s other benefits for operators include strengthening customer retention by improving the overall payment experience.  

About Paysafe 

Paysafe is a payments platform with that serves merchants and consumers in the global entertainment sectors. Its core purpose is to enable businesses and consumers to connect and transact through capabilities in payment processing, digital wallet, and online cash solutions. With over 25 years of online payment experience, an annualised transactional volume of USD 140 billion in 2023, and approximately 3,200 employees located in more than 12 countries, Paysafe connects businesses and consumers across 260 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics, and the convergence between brick-and-mortar and online payments. 

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Keywords: product launch, online payments, payment gateway, mobile payments
Categories: Payments & Commerce
Companies: Paysafe
Countries: United States
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Payments & Commerce

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Paysafe

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