Paysafe Launches ‘Pay by Bank’ in US, Enhancing iGaming Payments

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The Essentials in Brief

Paysafe, a pioneer in iGaming payment solutions, is entering the US market with its new payment method “Pay by Bank”. This innovation allows online gamers to make deposits and handle winnings directly through their bank accounts. With over 25 years of experience in the industry, Paysafe is thus expanding its extensive range of payment options for iGaming.

Why “Pay by Bank” is an Important Innovation

The introduction of “Pay by Bank” meets the wishes of many players who are looking for convenient payment options. According to current surveys, 27% of players prefer direct bank transfers for their transactions. This new offering could therefore be a decisive factor in customer acquisition and retention. Zak Cutler, the President of Paysafe for global gaming, emphasizes the importance of speed and security that “Pay by Bank” brings. The ability to directly link personal bank accounts with sports betting accounts and allow quick payouts takes the gaming experience to a new level.

Improving Operational Efficiency and Security

In addition to increasing customer satisfaction, Paysafe aims to improve operational efficiency for operators with “Pay by Bank” while simultaneously raising the security standard. By directly connecting players’ bank accounts with the platforms, the risk for operators is reduced in case of payment defaults. This innovative payment system thus represents a win-win situation for players and operators.

Our Assessment

The introduction of “Pay by Bank” by Paysafe marks an important step in the evolution of payment methods in the US iGaming market. The combination of convenience, speed, and security not only addresses the current needs of players, but also sets new standards in the industry. For operators, it offers an excellent opportunity to make their services more attractive and increase customer satisfaction. It will be exciting to see how “Pay by Bank” proves itself in practice and what impact it will have on player acquisition and retention.

Sources

– Mirax Casino
– Caesars
– Fanatics Betting and Gaming
– Livespins
– Swedish Trisskrapet
– Senator Hontiveros
– Cordish
– Kambi and Choctaw Nation
– 2024 Gaming in Spain Conference

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