A new strategic partnership has been announced between major global payment technology providers Worldpay and Paysafe Group. The partnership seeks to establish a new industry standard in igaming and sports betting digital payments acceptance and security in the US.
It is expected that the new arrangement will see easier transactions and reduce operating costs. It will also permit universal payment acceptance through credit card processing, fast-fund payouts and other payment solutions, along with Paysafe’s online gambling payment options.
The two companies said in a statement: “iGaming is in a phase of significant growth after the US Supreme Court put the legislative power to authorise sports gambling in the hands of states earlier this year. The potential market opportunity for igaming in the US is massive. According to the American Gaming Association the sports betting market in the US is forecast to be worth $150 billion in gross online and offline gaming revenue and could become the largest sports betting market in the world.
Said Joel Leonoff, president and CEO at Paysafe: "Through this partnership, Worldpay and Paysafe will be able to champion the needs of US igaming operators and their players by providing a secure, cost-effective and highly configurable payments platform that delivers an unparalleled player experience.”
