PayNearMe Monday announced a partnership with Pin4 that allows players instant access to their winnings. In conjunction with participating operators, bettors can now withdraw funds in cash at more than 18,000 ATMs in the U.S.
“Players want to withdraw their winnings,” says PayNearMe Vice President and General Manager of iGaming and Sports Betting Leighton Webb. “Through the Pin4 partnership, they are able to do that immediately.”
The new system integrates Pin4’s patented technology into PayNearMe’s MoneyLine platform. Through mobile phones, players will be able to enter a withdrawal amount. After the information is processed by the gaming operator, the player receives two text messages:
- A four-digit order number, the dollar amount of the payout. and the time window for withdrawing funds
- A link to a locator map that identifies ATMs in the area where the player can immediately withdraw the funds
Players do not need to use a banking, debit or credit card to withdraw money at Pin4 enabled ATMs.
“It’s effectively two factor authentication,” Webb says. “The user goes to the ATM, they enter their credentials, and then the funds are disbursed at that point.”
“There will always be a subset of players who want to deposit or withdraw using cash, and we don’t see that going away,” Webb adds, noting that sportsbook bettors especially prefer to use cash.
Currently, the Pin4 technology is not available at ATMs at any casinos. But Webb is confident that with 18,000 ATMs available nationwide, proximity to withdrawing cash funds will not be a problem.
The technology will be available in early 2022, with announcements forthcoming about participating casinos and gaming operators.
