Worldpay and Paysafe Group have today (Monday) announced a new strategic partnership with the aim of capitalising on growth within the US iGaming and sports betting markets.
The two payment technology providers will work together to develop new solutions for payments acceptance and security across both sectors.
Worldpay – acquired by Vantiv earlier this year – will leverage its optimised credit card processing, fast-fund payouts, and various treasury and payment solutions. Paysafe will call upon its range of online gambling digital payment options, such as the NETELLER digital wallet and paysafecard online cash solution.
Using these technologies, Worldpay and Paysafe said they will be able to provide seamless connectivity via a single point of integration to a range of payments, including credit card processing, digital wallets and cash payment solutions.
Joel Leonoff, president and CEO at Paysafe, said the solution would allow operators in the US to offer customers a “secure, cost-effective and highly configurable payments platform that delivers an unparalleled player experience”.
“Our innovative approach means we can support all transactions, no matter how the player wants to pay,” Leonoff explained.
Worldpay executive vice president and head of global enterprise ecommerce Shane Happach added: “As a leading payments provider for iGaming companies, state lotteries and land-based casinos, Worldpay is excited about the enhancements this partnership will bring when it comes to maximizing payment acceptance, enabling new digital wallets, as well as minimizing fraud risk and lowering cost.
“Our combined strengths and capabilities will simplify payments for gaming operators, while also continuing to show our attentiveness to responsible gaming and our mission to protect the integrity of every transaction.”
The move comes at a time of significant growth in the US market, due in part to the Supreme Court’s ruling on PASPA earlier this year, which opened up legal sports betting to all states.
New Jersey, Delaware, Pennsylvania, Mississippi, West Virginia and Rhode Island have all moved to legalise sports betting in the wake of the ruling, while sports betting is also available in New Mexico at the Santa Ana Star Casino under tribal laws.