SECAUCUS, N.J.--(BUSINESS WIRE)--SBC SUMMIT - PayNearMe, the payments company designed to manage the complexities of iGaming, today announced a partnership with Pin4 to enable operators to give players instant access to their winnings. PayNearMe’s integration of Pin4’s patented technology into its MoneyLine platform gives iGaming and sports betting players a quick and easy option to withdraw their funds in cash at more than 18,000 ATMs across the nation.
“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.”
To initiate a cash payout, the player enters their mobile phone number and withdrawal amount. Once processed by the operator, the player receives two text messages:
- A four-digit order number, the dollar amount of the payout and the time window for withdrawing funds
- A link to a locator map that identifies ATMs in the area where the player can immediately withdraw the funds
The player simply enters their mobile phone number, the amount of the withdrawal, the order number and a separate secure four-digit PIN into a participating ATM to receive their funds in cash.
“Withdrawing funds has always been a significant pain point for players; we’re helping operators solve for that with this partnership,” Kaplan said. “We provide the most — and the industry’s best — deposit and withdrawal options on a single platform and will continue to identify ways to expand these options for operators and their players.”
“Instant cash withdrawals can help iGaming and sports betting operators attract more players,” said Rich Witkowski, CEO of Pin4. “PayNearMe is the leading payments company in the iGaming and sports betting market. The company’s innovation around the player experience makes PayNearMe the ideal partner to help us bring our cash at ATM solution to the U.S. gaming market.”
Pin4 will be available in the MoneyLine platform in early 2022. PayNearMe will continue to add innovative deposit and withdrawal options to its platform.
PayNearMe operates and processes payments for licensed operators in 17 U.S. states and is expanding its gaming footprint as new states legalize iGaming and online sports betting. PayNearMe’s MoneyLine platform is designed to remove friction, enabling operators to deliver a best-in-class player journey. With one platform and integration, iGaming and sports betting 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 of Pin4.
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 platform is 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. 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 17 regulated gaming markets in the US. 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 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.
About Pin4
Pin4 is a global Fintech company enabling businesses and government organizations to efficiently deliver real-time cash payments to their customers and patrons. Pin4’s patented process enables these individuals to conveniently access cash payments using just their mobile phones and the local ATM network without the use of a credit or debit card or bank account. Whether it’s a B2C or G2C payment, P2P transfer or cash withdrawal from a digital account or wallet, Pin4 provides hassle free cash to millions of individuals annually. Find out more at pin4.com.
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.
