Paysafe, a prominent payments platform, has introduced Pay by Bank for iGaming, a new solution enabling U.S. online bettors to instantly and securely deposit funds at operators’ cashiers directly from their online bank account, as well as seamlessly cash out winnings. This launch strengthens Paysafe’s Gateway, the iGaming payments solution that connects U.S. operators to an extensive range of traditional and alternative payment methods via a single integration.
With over 25 years of experience in streamlining iGaming payments, Paysafe has introduced Pay by Bank in response to the increasing demand from U.S. players for payment variety. Complementing Paysafe’s existing offerings, Pay by Bank caters to the preferences of the 27% of bettors who favour direct bank transfers, according to Paysafe research.
Utilizing Paysafe’s single-integration Gateway, U.S. online gaming operators can now provide Pay by Bank to their customers. First-time users can seamlessly sync their checking or savings accounts within seconds and securely fund their player accounts in real time. For returning bettors, Pay by Bank supports one-click payments from linked accounts, simplifying the process further.
Furthermore, Pay by Bank facilitates rapid withdrawals from players’ sportsbook accounts directly to linked bank accounts, initiated through a single click. All Pay by Bank transactions are indemnified for operators, reducing liability if a player’s bank account deposit defaults. This feature, along with providing more payment choices, contributes to enhancing customer retention by improving the overall payment experience, aligning with players’ top priorities of transactional speed and financial security, as per Paysafe research.
In summary, Paysafe’s Pay by Bank solution enriches the payment landscape for U.S. iGaming operators, offering convenience, security, and flexibility to both operators and players alike.
Zak Cutler, President of Global Gaming at Paysafe, said: “We’re delighted to unveil our new Pay by Bank product for our iGaming solution, which will almost certainly prove very effective in both converting and retaining players for U.S. operators, with the product’s impressive transactional speed and robust security. Through Pay by Bank, we continue to grow the Paysafe Gateway by providing American operators and their customers with unparalleled payment choices, all through a single integration.”
