Mazooma, Plaid partner for igaming and sports wagering payments

Tuesday 10 November 2020 13:53 CET | News

Gaming industry company Mazooma has partnered with financial data network Plaid to bring an Instant Bank Transfer payment solution to igaming and sports wagering operators.

The solution will be introduced in certain regulated US states. The offering is now available for deposits and withdrawals on BetMGM’s cashier with Borgata and Party Poker going live sometime in the future. The online gaming and sports wagering industry has experienced steady growth since PASPA’s repeal in 2018 and has performed well during lockdown despite hiatuses from the NFL, NBA, NHL, and MLB. Since 2018, approximately 75% of US states have introduced legislation to legalize sports wagering, with sports betting legal in one form or another in 24 states, according to the official press release.

Because of low credit card acceptance rates, ACH represents approximately 35% of gaming industry payment volume, which is estimated at more than USD 150 billion for sports wagering alone. The product leverages Plaid’s connections to more than 11,000 financial institutions in the US and Mazooma’s Instant Bank Transfer product is available to current Mazooma operators through their existing integrations and is expected to roll out to its full roster of clients by the end of 2020.

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Keywords: Mazooma, Plaid , partnership, iGaming, sports wagering, payments , gaming, financial data, instant bank transfer, payment solution, US, BetMGM, Borgata, Party Poker
Categories: Banking & Fintech
Countries: United States
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Banking & Fintech

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