A collaboration between Mazooma and Fifth Third Bank, N.A. is set to bring real-time withdrawals to sports wagering and iGaming industries through the RTP network from The Clearing House.
The offering, which is now live for all of Mazooma’s operators, enables iGaming and sports wagering players to withdraw funds to their bank accounts instantly.
It comes as immediate payouts take on heightened importance on the consumer journey, with the transactions being fully authenticated through Plaid’s user-initiated bank account verification and undergoing extensive risk management checks by Mazooma.
Dave Roe, Chief Operating Officer of Mazooma, commented: “This is an exciting time for Mazooma. Last week, Nuvei Corporation announced the agreement to acquire Mazooma. This week, we are thrilled to offer the ability to process real-time payments.
“Together with Plaid’s seamless account verification, these innovative improvements offer the best player experience in the market. Having Fifth Third and The Clearing House participate in the journey to real-time payments is a game-changer.”
Real-time withdrawals are available to operators through Mazooma’s instant bank transfer product, and this is just the beginning. Soon, the imminent launch of real-time deposits promises to set a new industry bar for seamless payments in the sports wagering and iGaming industries.
“The sports wagering and iGaming industries are strategic growth markets, and we are excited to participate in this innovative product launch,” added Josh Dunaway, vice president and treasury management officer at Fifth Third. “Through integrated payments, we extend our reach and help enable a consumer-focused omnichannel experience. We could not be more pleased about the strategic relationship with Mazooma and The Clearing House and its benefit to the online gaming industry.”
“The RTP network provides a platform for financial institutions, fintechs, and corporate users to create innovative new payment products for their customers,” said Steve Ledford, senior vice president of product strategy and development, The Clearing House. “Mazooma and Fifth Third’s instant payout offering is a great example of how the RTP network is facilitating payments innovation.”