Paysafe Lands Award Win in Mobile Payments Development
Gambling in the United States is big business, as it is most everywhere else. All that gambling means a lot of money, and a lot of money to keep track of and routed to the appropriate places. That calls for payment processors, especially when some of that money is generated by cards or other mobile payments mechanisms, and at the inaugural event of the American Gambling Awards, Paysafe Group tipped us off about its big win therein, the Payments Processor of the Year award.
The awards were timed to coincide with the All American Sports Betting Summit, and offered up its top nod to Paysafe as the gambling market itself saw substantial gains after 2018 saw the repeal of PASPA, legislation that established a ban on single-event sports betting. With the ban repealed, the market was opened up, and Paysafe back in February of this year brought out its iGaming payments platform. The iGaming platform opened up the field for operators to connect their own brands to a slate of Paysafe offerings with just one point of integration, making the move smoother, easier to handle, and much more efficient overall.
With Paysafe’s tools in place, sports betting operations can offer several options to players, including the Skrill digital wallet, card payment processing, instant automated clearinghouse (ACH) operations and more, including third-party tools. This makes Paysafe not only versatile but also easy to use, a combination that makes for serious value and makes it a ready winner for the Payment Processor of the Year title.
While gambling has demonstrated itself to be at least somewhat profitable even in bad economic conditions as players look for distraction and a potential route to riches, its existence means a clear need for payment processors. For Paysafe to win an award like this suggests that it’s likely to be the go-to option of choice for gambling establishments throughout the United States and potentially the world. This could be a very big move for Paysafe, though it may not be able to unseat incumbent options very readily.
Regardless, with expansion in gambling still likely to take place, Paysafe may be able to lead the way in processing payments for gambling operations going forward, and demonstrate why it’s an award winning product.