PayNearMe has expanded its US foothold after it received approval from the Kansas Racing and Gaming Commission to bring its MoneyLine payments platform to the Sunflower State.
Kansas soft-launched legal sports betting yesterday, just one week before the beginning of the 2022 NFL season, and five sports betting operators have gone live with PayNearMe’s MoneyLine platform.
“These clients are going live just as the 2022 football season gets rolling, enabling fans to place legal wagers on the Jayhawks, Chiefs or any of their favorite sports teams,” said Michael Kaplan, Chief Revenue Officer and General Manager at PayNearMe.
The MoneyLine platform allows operators to offer players ‘fast, convenient deposit options’ and quick withdrawal options to improve retention.
Moreover, PayNearMe operators will be able to offer cash as a convenient and guaranteed deposit method.
“Enabling our clients to go live on the same day Kansas residents can place online wagers ensures they will be able to seamlessly manage the millions of dollars projected to be wagered online in Kansas over the next year,” added Kaplan.
“Fans are ready to watch and wager on NFL and college football, and we’ve been working hard behind the scenes to ensure our operators are ready to give them the industry’s best player experience around deposits and withdrawals.”
PayNearMe noted that managing deposits is a ‘complex process’ which requires specific technology designed for sports betting and igaming industries, rather than a one-size-fits-all approach.
“We have deep expertise in the industry and have worked closely with the Kansas Racing and Gaming Commission to ensure our service is compliant with all applicable statutory requirements,” said Connor McNulty, Vice President, Legal and Chief Compliance Officer, PayNearMe.
“PayNearMe is focused on quickly and efficiently gaining approval as new states legalize online sports betting and igaming.”