PayNearMe announces tech offering with Accertify, plans for G2E

October 4, 2023 1:58 PM
  • Rege Behe, CDC Gaming Reports
October 4, 2023 1:58 PM
  • Rege Behe, CDC Gaming Reports

PayNearMe Wednesday announced a new technology offering with American Express subsidiary Accertify. The payments platform provider will integrate Accertify’s fraud prevention technology into its MoneyLine platform, allowing igaming and sports betting operators to detect and reduce fraudulent fund withdrawals.

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“PayNearMe and Accertify can now empower our operators to proactively ensure their players are who they say they are via intelligent access to Accertify’s community database which already protects many of the largest operators in the iGaming space,” said PayNearMe Chief Product Officer John Minor in a statement. “Accertify’s machine learning technology analyzes this vast body of community data and alerts PayNearMe’s MoneyLine platform to authenticate transactions or, when needed, dynamically tighten security measures to help protect from account takeovers and promotional abuse without unnecessary added friction.”

According to a release, Accertify’s technology identifies suspicious activity, resulting in improved acceptance rates of debit and credit cards, and reducing deposit declines. The technology proactively verifies player identities and automates approval processes for withdrawals, allowing players quicker access to funds.

“Accertify’s platform protects many of the largest brands in the world. Our machine learning, device intelligence and user behavior analytics are designed to prevent fraud and abuse while helping to maintain and grow iGaming and sports betting operators’ relationships with their players,” said Accertify President Mark Michelon.  “We are pleased to work with PayNearMe to bring our fraud solutions to their clients and provide operators with a more comprehensive and effective way to detect and prevent fraud.” 

Also, Oct. 9-12 at the Global Gaming Expo in Las Vegas, PayNearMe will introduce new platform features that offer enhanced fraud protection and improved payment acceptance. The company’s dedicated igaming and online sports betting payments platform, MoneyLine, allows operators to manage deposits and withdrawals across all popular tender types, through a single integration, single settlement and single contract.

“We’re excited to introduce these new platform features that will provide our clients with a comprehensive set of tools for managing fraud and risk—all through MoneyLine’s flexible, scalable platform,” said PayNearMe Chief Revenue Officer Michael Kaplan.

PayNearMe also will share results from its new research study focusing on new and casual bettors regarding their habits, motivations, and preferences related to deposits and withdrawals.

“The PayNearMe team is looking forward to attending G2E this year,” Kaplan said. “It’s always a pleasure to get face-to-face time with our partners, prospects, clients and other industry professionals. We will have a strong presence and a meeting space where we’re excited to reconnect with colleagues and partners.”

PayNearMe’s team will be located in Bellini 2105 at the Venetian Expo.