Having operated predominantly within the UK and Europe, payment provider Neosurf is eyeing expansion into the thriving US market.
Speaking to Payment Expert at last April’s ICE London event, David Cox, Director of Development and Mentoring at Neosurf, could not hide his excitement at taking the company into the US market.
With the backing of some of its American partners, Cox explains why the firm’s partners played an integral role in launching into the US market.
He said: “It’s been bubbling under for some time and I think we’ve done the right thing by not rushing into it. Developing our relationships, one of them being our partner the Metropolitan Commercial Bank (MCB), has given us support and a lot of credibility and now has given us this great platform.
“We’re really excited to be taking NeoSurf to what we think is an underserved market. The fact that they (MCB) are helping us deliver, so there is a practical side. They are very robust and that’s made us challenge ourselves and make sure we’re doing all the things we should be doing, and we’re doing them right.”
Despite being one of the highest growing igaming and betting markets in recent years, the market is still yet to be regulated by certain states, which could halt Neosurf’s ability to expand its voucher offering to bettors in states such as California and Texas.
Cox spoke on these challenges, stating: “The state-by-state regulation that was probably our biggest fear factor, having to run almost 50 countries.
“Our plan is that we will go through each state as it is regulated. We will also be basing this on other factors like demographics and also our partnerships, making sure that in a particular state we have the ability to deliver. We won’t go in if we can’t deliver the best optimised experience.”
Not only are Neosurf heading into the US market, but they have also recently launched their digital cash product, allowing players to pay with virtual Neosurf vouchers inside the metaverse.
You can hear Neosurf’s Chief Commercial Officer, Andrea McGeachin’s excitement as the company dives into the Web3 world.