The two brands are joining forces to enhance the world of digital gaming. Or, more specifically, to deliver a seamless payments experience for iGaming operators and consumers alike.
Also targeting the digital sports betting sector, the combined initiative is intended to enable a more seamless transaction experience end-to-end, allow for universal payment acceptance and reduce operating costs, according to the press release.
As initiatives go, the U.S. marketplace is ripe for this endeavor with iGaming being in a booming growth phase, the partners said. Earlier this year, The U.S. Supreme Court gave legislative power to the individual states to either allow or forbid sports gambling in their jurisdiction – overriding a federal law that prevented states from authorizing such activity in the past, according to The Washington Post.
The companies cited data from the American Gaming Association, saying that the sports betting market in the U.S. is forecast to be worth $150 billion in gross online and offline gaming revenue and has the potential to become the largest sports betting market in the world.
“Through this partnership, Worldpay and Paysafe will be able to champion the needs of U.S. iGaming operators and their players by providing a secure, cost-effective and highly configurable payments platform that delivers an unparalleled player experience,” said Joel Leonoff, president and CEO at Paysafe Group, via the press release. “Our innovative approach means we can support all transactions, no matter how the player wants to pay. We’re very excited to once again get behind a new and growing sector.”
Specifically tailored for the U.S. market, this partnership will enable seamless connectivity through one unified platform and offer a wide range of payment options that include credit card processing, digital wallets, ACH, cash payment options and close to instant push-to-card payouts, the companies said.
“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,” said Shane Happach, EVP, head of global enterprise ecommerce for Worldpay in the same release.
Ultimately, Paysafe and Worldpay said they expect the partnership to enhance conversion and retention by boosting the player’s payment choices.