American Gambling Awards Finalists: Payment Service Provider of the Year
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The American Gambling Awards celebrates the exemplary work of the companies, organizations, executives and influencers who are working to responsibly develop the regulated online American casino and sports betting market.
Here are the finalists for Payment Service Provider of the Year.
As the U.S. gaming market continues to grow, many players are still facing difficulties in making online gambling deposits and payouts to regulated online gambling companies.
These finalists have helped deal with this problem by supplying a payment solution that meaningfully increases the success rate of online deposits and payouts.
PayNearMe
PayNearMe allows operators access to an end-to-end platform that streamlines deposit flows and accelerates payouts. The platform allows players to deposit in multiple ways including cash, cards, ACH, PayPal, Venmo, Apple Pay and Google Pay, while also providing near-instant payouts as opposed to other options that can take days or even weeks.
Over the last 19 months, PayNearMe has grown the number of merchants on its platform by 20%. It has also increased transaction volume and cash volume by more than 50% and increased digital wallet payment share in its client base by more than 60% year over year.
Paysafe
With the diversity of American sports bettor’s and iGaming players’ payment preferences, plus the ongoing U.S. issue of card declines for iGaming transactions, operators are tasked with integrating multiple payment solutions to maximize deposit success rates.
Paysafe allows operators to access all the payment methods a player could want or need all through a single integration.
Sightline Payments
Sightline’s Play+ solution allows customers to instantly transfer funds from a wagering account into their Play+ account, giving customers the ability to have real-time cashouts.
Sightline also allows operators to have a low cost of redeposits via its propriety SPAN network. As operators continue to invest more in live betting, the consumer demand for real-time payments creates increased costs for the need to redeposit funds. Sightline limits those redeposit costs for operators.
Trustly
Trustly’s Open Banking technology reduces processing costs by connecting players directly to their bank accounts, meaning operators can guarantee payments and employ Open Banking Payments without taking on additional risk.
From 2021 to 2022, Trustly saw a 66.7% increase in average end users, in addition to a 52% increase in total transaction amount and a 44.52% increase in total transactional volume.
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