Payflo has entered a strategic partnership with MoneyGram to introduce a new cash deposit and withdrawal service customized for players in the regulated US gaming market and lottery sector.
This agreement aims to meet the rising demand for secure cash payment options, thus providing an alternative for players who prefer transactions without the need for a bank account or prepaid card.
By integrating the advanced payment processing technology of Payflo with the extensive financial network of MoneyGram, the service is tailored to offer a compliant, seamless, and efficient transaction procedure.
Given that the US gaming and lottery market exceeds $100 billion in annual revenue, this initiative seeks to further expand payment solutions for players, while at the same time helping US operators meet regulatory requirements.
What is particularly convenient is that US players can access the service simply by participating in MoneyGram locations nationwide, as they get to enjoy same-day cash deposits and instant withdrawals.
Maria Armstrong, Director of Sales for North America at Payflo, commented on the significance of the partnership by saying that this partnership highlights the company’s commitment to providing cutting-edge payment solutions to US players:
Our collaboration with MoneyGram introduces a unique cash-based payment experience, enabling both deposits and withdrawals. This solution is specifically designed for the gaming and lottery industry, reinforcing our commitment to providing innovative and inclusive payment options while simplifying operations for our partners.
Anna Greenwald, Chief Growth Officer at MoneyGram, said that thanks to this partnership will benefit both players and operators, as the former get instant access to their funds, while the latter get a “reliable and compliant” payment solution:
This new service offers players faster and more convenient access to their funds, while gaming operators gain a reliable, scalable, and compliant payment solution that supports their expansion.
The Payflo-MoneyGram collaboration positions itself as an alternative that is compliant with US regulations to other payment solutions that are not compliant.
As a result, this deal is ready to integrate even more features in the future such as mobile gaming platforms and digital wallets in order to further bolster accessibility and convenience.
MoneyGram keeps rocking the global news with its strategic partnership after the company strengthened its presence in the iGaming industry in 2023 by signing a lucrative sponsorship deal with the leading provider Play’n Go and the MoneyGram Haas F1 Team.
