PayNearMe Partners With Trustly to Enhance Open Banking Technology
May 07 2024 - 8:00AM
Business Wire
iGaming and Online Sports Betting clients
benefit from Trustly’s guaranteed ACH payment option integrated
into the MoneyLineTM Platform
SBC SUMMIT NORTH AMERICA – PayNearMe, the fintech company
bringing progress to payments, today announced a partnership with
Trustly, the global leader in open banking payments. The
integration of Trustly’s Open Banking solution provides operators
with access to modern banking rails for real-time deposits and
withdrawals.
With the integration of Trustly, PayNearMe’s iGaming and Online
Sports Betting clients can accept guaranteed ACH deposits and
instantly transfer winnings into player bank accounts. Players
benefit by being able to fund their accounts in real-time using
their secure online banking credentials; they no longer need to
enter their bank account details.
“Our goal is to partner with best-in-class providers to offer a
single integration and platform for all our clients’ payment needs,
while ensuring they have a future-proof payments roadmap. As we
continue to enhance the MoneyLine Platform, we're excited to
partner with Trustly, the leader in open banking solutions for the
iGaming and online sports betting market,” said Michael Kaplan, EVP
and Chief Revenue Officer of PayNearMe. “Our iGaming clients get a
proven, guaranteed deposit method, which reduces their risk, while
their players get real-time access to deposited funds, improving
their overall experience.”
PayNearMe’s iGaming clients can access pay by bank and other
available payment types—cash, cards and mobile-first payment
options including PayPal, Venmo and Apple Pay—all with a single
integration and contract.
“There is a clear move toward open banking and we recognize the
immense value it brings to our clients,” Kaplan said. “We plan to
expand our partnership with Trustly to incorporate additional open
banking capabilities into our platform and enable all of our
clients to benefit from this innovative technology.”
“Trustly is proud to partner with PayNearMe, which shares our
commitment to creating a seamless payment experience,” said
Frederick Crosby, Chief Revenue Officer at Trustly. “This
integration will streamline the transaction process and offer
secure Open Banking Payments for both operators [with instant
deposits] and players [with instant payouts]. We look forward to
growing this partnership as the demand for Open Banking solutions
continues to rise.”
PayNearMe's MoneyLine platform is purpose-built for the unique
regulatory and payment complexities of iGaming and online sports
betting. The company currently facilitates deposits and payouts for
licensed operators in 25 states.
Click here to book a demo of PayNearMe’s MoneyLine platform.
About PayNearMe
PayNearMe develops technology that drives better payment
experiences for businesses and their customers. Our modern,
flexible and reliable platform helps businesses increase customer
engagement, improve operational efficiency and drive down the total
cost of accepting payments.
MoneyLine™, powered by PayNearMeⓇ, simplifies end-to-end money
movement for iGaming and sports betting operators. It delivers the
most reliable payment experience across key touchpoints with
players, including cashiering, deposits, payouts, cash at cage,
engagements and more. With one platform and one integration for key
deposit and payout types, operators can reduce costs, get to market
faster and make the entire payment experience seamless for their
players. Player insights within the platform deliver a holistic
view of key player and payment metrics.
PayNearMe has been servicing the iGaming market since 2013 and
is currently active in 25 regulated gaming markets in the U.S. The
company processes cash deposits for 16 of the 17 largest online
casinos in the U.S. and 9 of the 10 largest U.S. operators,
including BetMGM, TVG, PointsBet, FanDuel and Caesars
Sportsbook.
PayNearMe understands the importance of responsible gaming. We
support our partners and affiliates in their effort to provide a
safe environment that adheres to applicable responsible gaming
requirements in the market.
PayNearMe has enabled cash payments through our proprietary
electronic cash network since 2009, and today is accepted at more
than 62,000 retail locations in the U.S.
To learn more about PayNearMe, please visit www.paynearme.com.
Follow PayNearMe on X, LinkedIn and Facebook. The PayNearMe service
is operated by PayNearMe MT, Inc., a licensed money
transmitter.
About Trustly
Founded in 2008, Trustly is a global leader in Open Banking
Payments. Our digital account-to-account platform redefines the
speed, simplicity, and security of payments, linking some of the
world’s most prominent merchants with consumers directly from their
online banking accounts. Trustly can handle the entire payment
journey, setting us apart from the competition and enabling us to
offer an attractive alternative to traditional card networks at a
lower cost. Today we serve 8,300 merchants, connecting them with
650 million consumers and 12,000 banks in over 30 countries. In
2023, we processed over $56 billion in transaction volume in our
global network. Read more at us.trustly.com.
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Victoria Penn victoria.penn@paynearme.com 512-564-0706