To improve its payment services, Gaming Innovation Group (GiG) partnered with Paysafe (NYSE: PSFE), a global payments platform.
Zak Cutler, president of global gaming at Paysafe, said in a news release that with the growing online casino market, Paysafe and GiG can provide operators with a more compelling value proposition, potentially leading to increased market share:
“With the global regulated iGaming space increasingly complex, we share GiG’s philosophy of providing operators with the ability to adapt their operations to each unique market while remaining nimble.
Together, we look forward to giving our mutual operator partners a competitive edge to support their growth in new and existing markets.”
Key takeaways
- GiG partners with Paysafe to enhance payment services for North American online casinos.
- The partnership integrates Paysafe’s CoreX solution, facilitating debit/credit card transactions.
- The partnership aims at operators in a booming US online casino market.
What will Paysafe provide Gaming Innovation Group?
As a result of this partnership, Paysafe will be GiG’s endorsed payments partner. Paysafe will facilitate integrations of its CoreX solution for operators across multiple regions, including:
- The UK
- Continental Europe
- North America
- Latin America
Using Paysafe Gateway, GiG’s technology will facilitate debit/credit card transactions and access to Paysafe’s Local Payment Methods (LPM) suite. The gateway also unlocks more than 30 third-party LPMs, including household names in specific markets.
Paysafe solutions serve a growing US online gaming industry
As the US gaming market grows, partnerships for online payment options are becoming more common.
Recent figures for US commercial gaming revenue reveal $3.95 billion in iGaming revenue and $6.67 billion in sports betting revenue for Q2. This is year-over-year growth of 25.2% and 28.7%, respectively.
While traditional casinos still hold sway, online gambling’s staying power is undeniable.
Paysafe’s payment solutions, accessible through a single API integration, will have more to come for iGaming and sports-betting operators.
“Partnering with Paysafe marks another important step forward in ensuring that our operators have access to the most seamless, flexible, and secure payment solutions available on the market, tailored to their specific market needs,” James Coxon, chief operating officer at Gaming Innovation Group, said.
“As we continue to expand globally, leading innovation throughout the industry with our iGaming platform and sportsbook solution, Paysafe’s extensive payment capabilities provide the reliability and adaptability that align with our vision of delivering opportunities for growth.”