PayNearMe bringing omnichannel cash solutions to gaming

PayNearMe bringing omnichannel cash solutions to gaming

  • Rege Behe, CDC Gaming Reports
October 3, 2021 8:01 AM
  • Rege Behe, CDC Gaming Reports
  • Other

A player wins at the blackjack table at a brick-and-mortar casino. He heads over to the onsite sportsbook to watch a game and wants to use his blackjack winnings to make in-game bets on the app. How does he get those funds into his mobile app?

Right now, the options for the player are limited. But as more bettors become familiar and comfortable with companies such as PayNear Me, which deploys secure and reliable omnichannel payment technology, the above scenario will become more frictionless and natural.

“The ability to sort of tie together your online sports betting and igaming with a brick-and-mortar property is what I think the players will be looking for eventually,” says Michael Kaplan, chief revenue officer for PayNearMe. “And a big part of that, frankly, is going to be around how money moves.”

PayNearMe will be showcasing its igaming and sports betting solutions during the Global Gaming Expo next week at the Venetian Expo in Las Vegas. With existing features such as Smart Link, the company is scheduled to launch a new enhanced platform that includes new features and functionality at G2E.

Based in Santa Clara, California, PayNearMe facilitates cash, debit, credit, ACH, and mobile-first payments, including Apple Pay and Google Pay, for businesses and government agencies nationwide. With clients including Walmart, Comcast, and the State of California, the company is now making inroads in gaming markets.

Recently, PayNearMe gained approval from igaming and sports betting operators to provide its services in Arizona and Michigan. Noting that the online world is overwhelmingly digital, while many brick-and-mortar bettors rely on cash, Kaplan understands there can be a disconnect between the two.

“I can see some people being hesitant to use it, because they don’t quite understand how convenient it is,” Kaplan says. “Education is going to be something we need to concentrate on going forward.”

For brick-and-mortar casinos with sportsbooks, it’s especially important to adopt and have omnichannel technology available for bettors. Kaplan believes that gaming operators who have expertise on the digital side will be more successful.

And it’s not just a matter of having strong wi-fi or cellphone connectivity, although those are important. Because apps have substantially more content available than a physical sportsbook, operators must make sure they provide omnichannel sources.

“Your ability to add content, to keep the gambling and in-game action going, can only be done digitally,” Kaplan says. “It can’t be done physically. It can’t be done through kiosks or anywhere you have to wait in line. There’s just not enough time. So I think it’s really important that people can do that off of their phones or tablets and connectivity is part of that.”

Rege Behe is lead contributor to CDC Gaming Reports. He can be reached at rbehe@cdcgaming.com. Please follow @RegeBehe_exPTR on Twitter.