The mobile cash payments platform PayNearMe has launched a new platform to help “manage the complexities of the iGaming money movement.”
MoneyLine, which was announced on Monday (Oct. 4) at the Global Gaming Expo in Las Vegas, is already being used by PlayLive!, the online casino affiliated with Live! Casinos & Hotels in Philadelphia and Pittsburgh, the company said in a news release, offering a simpler deposit/payout experience for online players in Pennsylvania.
“Managing deposits and payouts is a complex process, and it requires technology designed specifically for our industry, so we’re pleased to partner with a FinTech company that specializes in both payments and iGaming,” said Joe Billhimer, executive vice president of Cordish Gaming Group, which owns Live! Casinos & Hotels. “We were looking for an all-in-one solution and found that PayNearMe’s MoneyLine gives us the flexibility and agility we need, along with the widest range of payment types, all on a single platform.”
Launched in Silicon Valley in 2009, PayNearMe processes all forms of payment in addition to cash, including cards, ACH, Apple Pay and Google Pay. Earlier this year, the company launched a partnership with Walmart that lets customers facilitate cash payments for bills through the Green Dot Network.
According to PayNearMe, MoneyLine uses the company’s technology and expertise to reduce operator cost and increase player satisfaction. The solution aims to streamline deposit flows and accelerate payouts, while providing insights that let operators optimize their workflows and improve customer retention. The platform offers faster, intelligent cashiering, frictionless deposits and the ability for players to deposit or withdraw cash from online accounts while at brick-and-mortar facilities.
“Deposits and payouts are the most crucial touchpoints operators have with their players. When there is friction at these touchpoints, players drop off and operators lose revenue,” said Michael Kaplan, chief revenue officer and general manager of PayNearMe. “MoneyLine removes the friction, enabling operators to give players what they want: easy, fast deposit and payout experiences.”