PayNearMe Approved to Process Online Sports Betting and iGaming Payments in Arizona

PayNearMe enables Barstool Sportsbook to be among the first operators in Arizona to accept cash deposits

SANTA CLARA, Calif.--(BUSINESS WIRE)--PayNearMe, the payments platform designed to manage the complexities of iGaming, announced the company has been granted approval by the Arizona Department of Gaming to provide its award-winning iGaming solution, which simplifies the deposit and payout experience across a wide range of payment types, to licensed operators within the state.

Barstool Sportsbook, Penn Interactive’s mobile sports betting app with nearly 70 million hits per month, has been accepting cash deposits at retail locations with PayNearMe since September 2020 and is now among the first to go live in Arizona with the company.

PayNearMe has launched four clients in Arizona, and is actively working to enable additional operators across the state to accept players’ cash and electronic payment deposits.

“Players want a frictionless deposit experience, and PayNearMe’s iGaming solution helps operators improve the iGaming experience by enabling players to quickly and easily fund their accounts using any tender they choose — including Apple Pay and Google Pay — via a smartphone,” said Michael Kaplan, Chief Revenue Officer and General Manager at PayNearMe. “As more states legalize online sports betting, PayNearMe’s technology and electronic cash network make it possible for operators to get up and running quickly in each new state.”

“We are ready to rapidly expand the Barstool Sportsbook & Casino app across the U.S. in tandem with states legalizing sports betting,” said Jake Francis, Sr. Director of Operations, Penn Interactive. “PayNearMe’s technology makes it possible for us to quickly begin accepting cash deposits as states go live.”

Managing deposits and payouts is a complex process that requires technology designed specifically for the iGaming industry. “We have deep expertise in the gaming industry and have worked closely with the Arizona Department of Gaming to ensure our service is compliant with all applicable statutory requirements,” said Connor McNulty, Senior Regulatory Counsel and BSA/AML/OFAC Compliance Officer, PayNearMe.

PayNearMe now operates and processes payments for licensed online sports betting and iGaming operators in 14 U.S. states and is expanding its gaming footprint as new states legalize online sports betting and iGaming. PayNearMe provides a complete payment solution for online sports betting and iGaming, with a focus on removing friction to enable operators to deliver a best-in-class player journey. With one platform and integration, operators can facilitate deposits, payouts and engagements using data to automate decisioning and better manage payment experiences that ultimately reduce costs and increase revenue.

About PayNearMe

PayNearMe is the iGaming industry’s only platform that facilitates cards, ACH, cash and mobile-first deposit methods, including Apple Pay and Google Pay. The company processes cash deposits for 9 of the 10 largest U.S. operators and 16 of the 17 largest online casinos in the U.S., including BetMGM, TVG, PointsBet, FanDuel and William Hill.

PayNearMe focuses on removing friction to enable operators to deliver a best-in-class player journey throughout the entire deposit and payout process. We have deep expertise in the iGaming industry, and directly power, or have integrations that power, more than 95% of U.S. operators to digitize cash deposits.

PayNearMe has enabled cash payments through our proprietary cash network since 2009, and today is accepted at over 31,000 retail locations in the U.S., including participating 7-Eleven®, Family Dollar® and Casey’s General Stores®, among others.

To learn more about PayNearMe, please visit www.paynearme.com. Follow PayNearMe on Twitter, LinkedIn and Facebook. The PayNearMe service is operated by PayNearMe MT, Inc., a licensed money transmitter.

This press release contains forward-looking statements regarding product development and availability. The development release and timing of future product releases remains at PayNearMe’s sole discretion. Any such referenced products do not represent promises to deliver, commitments or obligations of PayNearMe MT, Inc. PayNearMe assumes no obligation and does not intend to update these forward-looking statements.