Igaming payments platform PayNearMe has announced a partnership with Pin4 to enable operators to give players instant access to their winnings.
PayNearMe’s integration of Pin4’s patented technology into its MoneyLine platform will provide igaming and sports betting players a quick and easy way to withdraw their funds in cash at more than 18,000 ATMs across the US.
Michael Kaplan, Chief Revenue Officer and General Manager of PayNearMe, commented: “Our cash-in at retail option is very popular with players for funding igaming and sports betting accounts, and those same players want cash withdrawal options.
“By integrating Pin4 into MoneyLine, operators can now give players the option to withdraw their winnings in real-time via cash at nearby ATMs. Together, we are giving operators a fast and convenient way to enable cash payouts for their players.”
To initiate a cash payout, players must enter their mobile phone number and the amount which they wish to withdraw.
Once processed by the operator, players then receive two text messages, one containing a four-digit order number, the dollar amount of the payout, and the time window for withdrawing funds, while the other contains a link to a locator map that shows ATMs in the area where funds can be withdrawn immediately.
Players then simply enter their mobile phone number, the amount of the withdrawal, the order number, and a separate secure four-digit PIN into a participating ATM to receive their funds in cash.
Kaplan continued: “Withdrawing funds has always been a significant pain point for players; we’re helping operators solve for that with this partnership. We provide the most — and the industry’s best — deposit and withdrawal options on a single platform and will continue to identify ways to expand these options for operators and their players.”
Rich Witkowski, CEO of Pin4, added: “Instant cash withdrawals can help igaming and sports betting operators attract more players. PayNearMe is the leading payments company in the iGaming and sports betting market.
The company’s innovation around the player experience makes PayNearMe the ideal partner to help us bring our cash at ATM solution to the US gaming market.”
Pin4 will be available on the MoneyLine platform in early 2022.