PayNearMe’s Partnership with Pin4 Will Make IGaming Withdrawals More Seamless
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Operators from across the iGaming and sports betting industries have another option for cash withdrawals, thanks to a new partnership announced Monday.
The deal in question is between PayNearMe and Pin4, with Pin4 incorporating its money withdrawal technology so bettors and iGaming customers can easily withdraw cash from their accounts at more than 18,000 ATMs.
PayNearMe’s MoneyLine system allows customers to make deposits and withdrawals at any of the company’s operating partners — such as BetMGM Sportsbook, PointsBet Sportsbook, FanDuel Sportsbook and William Hill.
Pin4 is a Fintech company that allows businesses and government agencies to deliver cash payments in real time to customers through ATM withdrawals without the need for a credit card, debit card, or bank account.
For PayNearMe Vice President and General Manager Leighton Webb, Monday’s announcement represents a new era for the company, coinciding with the expansion of iGaming and sports betting across the country.
“(Today’s announcement) goes into the theme of having MoneyLine being able to provide choice and options to the users, both from a deposit and withdrawal perspective,” Webb told Gambling.com on Monday. “Cash will continue to be an option that players want to have. So as part of providing that maximum choice and option to the user, this is one piece of that.”
A New Era of Sports Betting Convenience
A major theme behind the partnership between PayNearMe and Pin4, according to Webb, is the convenience that comes from having the two companies’ networks linked.
It’s a practicality that should allow sports betting and iGaming customers to seamlessly make deposits and withdrawals through their favorite providerm like Caesars Louisiana customers, for example, in a timelier fashion.
“I always hit on convenience and ease of use, because we want to give players choice and the ability to make that choice, regardless of what tender type they would like to use,” Webb said. “So, making it easy and seamless for the user to be able to withdraw their money, that’s a key component to having a positive experience on these sites.”
The MoneyLine-Pin4 integration is slated to arrive in early 2022, according to a company press release, with Pin4 CEO Rich Witkowski calling the partnership a beneficial one for all involved.
“Instant cash withdrawals can help iGaming and sports betting operators attract more players,” Witkowski said in the press release. “PayNearMe is the leading payments company in the iGaming and sports betting market. The company’s innovation around the player experience makes PayNearMe the ideal partner to help us bring our cash at ATM solution to the U.S. gaming market.”
A Bright Future for Sports Betting Users Across America
One reason why Webb is upbeat about the PayNearMe-Pin4 partnership is the opportunity to expand the company’s payment network for sports betting and iGaming customers at a time when both industries are booming.
Webb sees a lot of growth opportunities in both sectors, which will lead to greater transaction volume.
“The (iGaming and sports betting) industries are in early days. I like to say that we’re in the first or second inning,” Webb said. “There’s a lot of growth, obviously, and a lot of entrants, and we want to be at the forefront in the payment space. And the payment space as a category is continuing to evolve.
“There’s new payment types. There are some tried and true payment types, such as cash, that aren’t going anywhere. They will always be there. And we want to be the leaders in the space.”
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