Online sports wagers and casino bettors will soon have fast access to their money through an advanced withdrawal process.
PayNearMe, a leading internet sports wagering and iGaming financial service company, unveiled a new partnership with Pin4. In early 2022, the partnership will allow online wagers to more easily access their account money.
Pin4 is a business-to-business financial technology (Fintech) firm that offers a solution for companies to offer their clients more efficient platforms to withdraw cash.
Anticipated to launch in January, PayNearMe iGaming clients will be able to easily access their money at more than 18,000 ATMs across the nation.
To initiate a payout, a player will schedule such a transaction within the PayNearMe account. After confirming the withdrawal amount and entering their phone number online, the financier will get a text with a four-digit code.
Upon arrival at one of the designated ATMs, the client enters their phone number, the withdrawal amount, and Pin to receive the money instantly.
PayNearMe and Pin4 unveiled their partnership in this week’s SBC Summit North America at the Meadowland Exposition Center in Secaucus, New Jersey.
Withdrawal concerns
PayNearMe is operational in 17 states that have regulated online gaming. The firm has contracts with nine of the ten biggest sportsbook and internet casino platforms, including BetMGM, FanDuel, and Caesars Sportsbook.
The main cause of concern among iGaming players in the US has been getting their cash once they seek a withdrawal. PayNearMe states its Pin4 partnership will help solve those concerns.
“Withdrawing funds has always been a significant pain point for players,”
stated Michael Kaplan, PayNearMe’s chief revenue officer, and general manager.
Kaplan added,
“We are helping operators solve that with this partnership. We provide 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.”
PayNearMe states its Pin4 ATM option will be integrated into the firm’s Moneyline iGaming and mobile sports wagering cash movement platform. In addition to PayNearMe’s upcoming ATMs, players can use their account money at more than 31,000 retail destinations across the US.
PayNearMe told Casino.org that clients are capped to withdrawing $500 in cash per 24 hours.
iGaming ATMs
Withdrawing money from a PayNearMe account at an ATM will be a new experience for many. However, Pin$ says the process is simple.
Clients at a Pin4 ATM will start by selecting a cardless transaction.
They will then require to select “Mastercard Cash Pickup” and then follow the on-screen prompts, which will inquire for a phone number, withdrawal amount, and the four-digit Pin sent earlier through text by PayNearMe.
PayNearMe stated its decision to partner with Pin4 is due to a significant portion of online wagers who prefer to use cash for their sports betting activities.
The firm explains that cash deposits at its retail destinations remain popular, and more money withdrawal channels will serve the demographic better.
About BetMGM
BetMGM is one of the four best online gaming firms in the US. After launching a combative campaign to promote its rebranded gaming app, it competes head-to-head with DraftKings and FanDuel while seeing Caesars emerge in major markets.
Besides Borgata, BetMGM also offers iGaming under its brand and Party Casino. According to its statement, BetMGM is the biggest online gaming operator.
In the four states where it provides online casino gaming, Pennsylvania, Michigan, West Virginia, and New Jersey, it says it has an estimated 32% of the gross gaming revenue.
In addition, BetMGM offers sports wagering as part of its online gaming portfolio in those four states, plus Colorado, Indiana, Virginia, Wyoming, Arizona, Iowa, Nevada, Tennessee, and the district of Columbia.
Last Updated on by Ryan
