Provider of online payment solutions Paysafe Group was named Payments Processor of the Year at the inaugural American Gambling Awards that took place earlier this week at Monmouth Park Racetrack in Oceanport, New Jersey.
Paysafe was recognized for its new US-focused gaming payments platform which the company launched in the US gambling market this past February.
The inaugural edition of the American Gambling Awards, organized by Gambling.com, took place on Tuesday night at the Turf Room at Monmouth Park. The award party was part of the All American Sports Betting Summit. It aimed to celebrate the “outstanding work of the companies, organizations, executives, and influencers working responsibly to grow regulated online gambling.”
America became a land of great opportunities after last year’s strikedown of the federal PASPA ban on sports betting. The landmark SCOTUS ruling paved the way for international companies to, for the first time in a long while, be able to participate and claim a share of the US regulated gambling market.
As mentioned earlier, Paysafe brought to the local market its dedicated iGaming payments platform in February. The platform enables operators to plug their brands into a comprehensive suite of payment solutions through a single point of integration.
The platform allows US-facing online casino and sports betting operators to offer their customers card payment processing, a Skrill digital wallet, online prepaid solutions, including paysafecard, and instant ACH. The platform has a strong focus on “future payments such as next-generation wallets as well as third-party solutions.”
Transforming the Payments Experience
At the recent industry awards, Paysafe was hailed for transforming the payments experience for both operators and players by unifying a wide number of payment methods into a single platform. The company was also recognized for its platform’s focus on user experience for everyone, be it an operator or a gambling customer.
While gamblers are offered a streamlined payments process, operators, who integrate Paysafe’s solution, are provided with analytics, financial data, and reconciliation that enables them to “make fact-based decisions” for their operations.
Commenting on their recent recognition, Neil Erlick, Executive Vice President of Business Development at Paysafe, said:
“It has been a momentous year for the US gaming space – and for our business, with the launch of our iGaming platform developed specifically for operators and players in a market with huge growth potential.”
Mr. Erlick added that they will continue investing in their now award-winning technology and will roll it out in new regulated states as the US gambling market continues to evolve.
Paysafe recently appointed Philip McHugh as its new Chief Executive Officer. Mr. McHugh replaces Joel Leonoff in the top executive role. The company’s new leader joins from another major payment services provider – Total System Services (TSYS), which recently announced a $21.5 billion merger with Global Payments.
In a separate round of news from a few weeks ago, it became known that Paysafe’s marketing technology arm, Income Access, would power The Stars Group’s relaunched affiliate program.
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