Vendors that provide payment technology are flourishing as internet gambling, cashless gaming, and sports betting become more popular. These developments, coupled with several states that launched online gaming last year, continue a golden era for companies providing payment options to players.

IGTPay

IGT has excelled both in the land-based and mobile realms. The adoption of cashless in the land-based casino sector steadily accelerates via growing acceptance from operators and regulators.

IGT’s product rollouts embrace the trend. 

The Covid-19 pandemic drove a renewed surge of interest in cashless due to the perceived safety benefits, Reddy asserts. Expanding sectors like sports betting and iGaming in the U.S. increase the need for digital payments processing in these verticals.

IGTPay is the company’s proprietary turnkey payments processing gateway, integrated across the systems and platforms in each of the company’s verticals. It’s a mature and field-proven full-service solution that’s securely processed a high volume of payments internationally since 2013, and since 2018 in the U.S.

With Resort Wallet and IGTPay, players can securely transfer funds to and from their Cashless Wagering Account from a range of external payment sources such as bank accounts, credit and debit cards, or Sightline Play+ prepaid accounts. Funds in the PIN-protected Cashless Wagering Account can be seamlessly transferred to and from a slot game with a simple tap of a smartphone.

Payment Security

There are two components regarding the rapid ascent of iGaming.

One is the payment processing. The other concerns security.

George Connors, senior vice president of gaming solutions for Fiserv, touts his company’s presence in both areas.

Fiserv has enabled payments for online gaming since November 2013 when iGaming went live in New Jersey, he says. The 2018 repeal of the federal U.S. sports betting ban created another dimension of the company in this space.

These teams have built intelligent solutions that help operators with AML, KYC, behavioral analytics, device fingerprinting, geolocation and other fraud mitigation tools. These teams and capabilities are trusted not only in the gaming industry, but by some of the world’s largest merchants and financial institutions across the globe