PayNearMe Announces Strategic Partnership with IGT to Provide Expanded Payments Flexibility for Sports Betting and iGaming Operators

LAS VEGAS--(BUSINESS WIRE)--GLOBAL GAMING EXPO (G2E) -- PayNearMe, the payments company designed to manage the complexities of iGaming, announced a strategic partnership with IGT that will give IGT’s PlaySports customers the option to offer PayNearMe’s deposit and payout solution to their players. IGT PlaySports customers will have the option to leverage PayNearMe’s MoneyLine™ platform to facilitate cards, ACH, cash and mobile-first deposit methods including Apple Pay and Google Pay, plus payout solutions such as push-to-debit and cash-out at retail. Additional benefits include access to MoneyLine’s player engagement engine and business rules.

“We’re excited to form a partnership with leading platform provider IGT to offer IGT’s PlaySports customers a workflow-driven UX/UI, flexible payments options, and an ability to get to market quickly,” said Mike Kaplan, Chief Revenue Officer and General Manager of PayNearMe. “Our turnkey, single integration and single contract payment solution enables IGT PlaySports customers to improve the player experience with an elegant UI designed to simplify deposits and payouts, while offering players additional choice and flexibility.”

PayNearMe has enabled cash deposits via IGT’s proprietary payment gateway IGTPay for IGT’s iGaming and sports betting customers since 2019. This expanded partnership now allows operators to access MoneyLine's full suite of cash and electronic deposit and payout features. For example, IGT sports betting customers can now give players the option to deposit and withdraw cash from their online accounts while they are on-site at brick-and-mortar facilities.

PayNearMe operates and processes payments for licensed online sports betting and iGaming operators in 15 U.S. states and is expanding its gaming footprint as new states legalize online sports betting and iGaming. PayNearMe’s MoneyLine platform for online sports betting and iGaming is designed to remove friction, enabling 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.

Click here to book a demo of PayNearMe’s MoneyLine platform and learn more about the benefits of the integration with IGT.

About PayNearMe

PayNearMe develops technology to facilitate the end-to-end customer payment experience, making it easy for businesses to manage and accept payments. Our modern, flexible and reliable platforms are built from the ground up to increase 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 touch points 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.

PayNearMe has been servicing the iGaming market since 2013, and is currently active in 15 regulated gaming markets in the US. 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 has enabled cash payments through our proprietary electronic cash network since 2009, and today is accepted at over 31,000 retail locations in the U.S.

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.