Paysafe, a leading specialized payments platform, has announced a significant strategic partnership with Gaming Innovation Group (GiG). The partnership will cover Continental European, the UK, Latin American, and North American operators. As a result, players and operators can look forward to enhanced payment capabilities within the iGaming industry.
Expanding Payment Solutions for iGaming
Based on the signed deal, operators in Continental Europe, the UK, Latin America, and North America will integrate the CoreX solution. This ground-breaking innovation by GiG leverages the power of AI in managing players' accounts.
Launched in January, CoreX is a familiar brand in the iGaming and online betting sectors. This solution offers these brands the elasticity to localize operations regardless of the jurisdiction. With Paysafe integrating local payment methods (LPMs), CoreX is set for a further boost as GiG sets its eyes on global reach.
With the Paysafe Gateway solution, GiG’s technology is also set to transcend several crucial markets. That includes supporting credit/debit card transactions.
Additionally, the LPM package will partner with several other payment methods, such as Neteller, Skrill, Paysafecash, and Paysafecard eCash options, to further expand the variety of payment methods.
Partner Success is GiG's Aspiration
Paysafe’s president of global gaming, Zak Cutler, expressed his excitement over the deal. According to Zak, GiG Software is a “true innovator” in the PAM solutions.
Cutler further stated that offering the company’s mutual partners a competitive edge is his team’s priority going into the deal.
On the other hand, GiG's chief operating officer, James Coxon, acknowledged the deal's importance in offering seamless, secure, and flexible payment solutions in the market. Furthermore, the tailored solutions offer an advantage when operating in local markets.
The deal with Paysafe comes shortly after GiG shed light on SweepX. GiG termed this new social casino platform a crucial tool for extending its market share.
Experts predict the sweepstakes market will grow to $6.9 billion in 2025, up from the $3.1 billion valuation in 2022. According to the company, SweepX will let it get a piece of this booming market.
Already the SweepX platform is showing signs of positive outcomes, with a forecast of $55.7 million in annual sales forecast.
Paysafe’s Global Reach
Paysafe’s global footprint is one of its standout features. With services available in over 50 countries, including key markets like the United States, Canada, and Europe, Paysafe has become a go-to payment platform across different industries, especially in iGaming.
In the US, where online gambling is gaining traction as more states legalize the activity, Paysafe plays a pivotal role by offering localized payment options. Paysafecard, for instance, provides a prepaid solution that ensures players can participate in online casinos without needing a credit card or bank account.
Meanwhile, Skrill and Neteller offer e-wallet services, enabling fast deposits and withdrawals, which are critical for online gambling enthusiasts who prioritize speed and convenience.
This extensive availability in the US makes Paysafe a trusted payment provider for both operators and users, further solidifying its position in the market. As highlighted in this list of the best casino payment methods in the US, Paysafe's offerings cater to a wide range of player preferences, ensuring that it remains a leading choice for iGaming transactions.
More on Paysafe iGaming
Paysafe boasts plenty of experience in the payments sector, with over two decades of operations. Additionally, the solution has been key in the sports betting and iGaming sectors thanks to its extensive package of alternative and traditional payment methods. These options are available through one streamlined API.
The company also boasts its Income Access business unit (IA), which offers affiliate and digital marketing services for iGaming operators.
Paysafe’s growth is evident, especially since the US iGaming market resurrected in May 2018. The company aims to lead this growing industry and is also planning to expand in Europe and Canada.
According to reports, Paysafe is now an option for over 75% of operators in the United States as of October 7, 2024. Furthermore, the payment solution offers marketing services in 33 countries.
About GiG
Gaming Innovation Group (GiG) is a technology company that offers solutions and services for the iGaming industry. GiG offers a comprehensive platform that supports online casinos and sports betting operators in areas such as player account management, gaming content, payment processing, and compliance.
More By This Author:
Gaming and Gambling Stocks to Consider
Yum China Rebounds In 2023 With Record Levels Of Revenue Of Store Expansion
Yum China’s Record-Breaking Third Quarter Sets New Highs For Net New Stores, Revenue And Adjusted Operating Profit
Comments
Log in or sign up to join the conversation.