PayNearMe Partners with Pin4 for iGaming Cash Withdrawals
PayNearMe, a company that develops technology to facilitate end-to-end customer payment experiences, is making quite the name in the iGaming industry. PayNearMe has been servicing the iGaming industry since 2013, and the company is currently active in 17 regulated United States gambling markets.
PayNearMe services the iGaming industry through MoneyLine, a product that was designed for betting operators. This technology has satisfied some of the most prominent names in the industry, including BetMGM, TVG, PointsBet, FanDuel, and William Hill.
The sports betting industry has been all about innovation since the Professional and Amateur Sports Protection Act was eliminated in 2018 by the Supreme Court. PayNearMe is keeping up with the trend.
On November 29th, PayNearMe announced a partnership with Pin4 to give players immediate access to their winnings.
The Revolutionary Partnership
Pin4 is a global financial technology company that enables businesses to deliver real-time cash payments. The iGaming industry has been lacking this through mobile platforms, but PayNearMe and Pin4 will change the legal betting landscape on the payments side.
PayNearMe will integrate Pin4’s patented software into its MoneyLine platform, which will give iGaming and sports betting players an easy extraction option for winnings in cash at over 18,000 ATMs throughout the country.
Our cash-in at retail option is very popular with players for funding iGaming and sports betting accounts, and those same players want cash withdrawal options,” said Michael Kaplan, Chief Revenue Officer and General Manager of PayNearMe. “By integrating Pin4 into MoneyLine, operators can now give players the option to withdraw their winnings in real-time via cash at nearby ATMs. Together, we are giving operators a fast and convenient way to enable cash payouts for their players.”
Withdrawing funds has been one of the toughest parts of legal iGaming since 2018, and this partnership will simplify the process for players. In turn, this should help the unprecedented growth of legal betting in the United States.
The Future of PayNearMe
From November 30th to December 2nd, the biggest companies in iGaming gathered in New Jersey for SBC Summit North America. This is the leading iGaming and sports betting conference in North America, and PayNearMe was very active at the event.
PayNearMe had a premium booth location inside the Meadowlands Exposition Center where SBC North America occurred. They also sponsored an event at the 40/40 Club, a lounge in Manhattan owned by Grammy award-winning recording artist Jay-Z.
Knup Solutions Founder and CEO Ryan Knuppel caught up with Leighton Webb, the VP & GM, IGaming & Sports Betting at PayNearMe, at SBC North America.
Webb said, “As we continue to innovate and build out MoneyLine, it continues to solve the complexity problem for operators. The response to MoneyLine from operators has been overwhelmingly positive. We want to separate ourselves from our competitors with innovation.”
PayNearMe has innovated the market by partnering with Pin4. The next step for the company is to launch the technology in the MoneyLine product in early 2022.