Paysafe enhances Gateway for Increased US igaming retention

Man wearing black t-shirt with white writing that says "Paysafe".
Image courtesy of Paysafe

Paysafe has launched Pay by Bank for igaming, detailing its aim to offer US online bettors the option to instantly and securely deposit from their online bank accounts.

Expanding on the capabilities of Paysafe’s Gateway, Pay by Bank allows US operators to offer first-time users a method to sync their checking or savings accounts and securely fund their accounts in real-time.

Returning bettors can also use one-click payments supported by Pay by Bank from their linked accounts. The offering also includes quick payments via one lick to a bettor’s bank account.

In terms of operators, Pay by Bank transactions are indemnified, reducing liability in case of player deposit defaults from their bank accounts. 

According to Paysafe research, players prioritise transactional speed and financial security when evaluating their payment experience, finding that 27% of bettors prefer transacting via direct bank transfer.

Zak Cutler, President of Global Gaming at Paysafe, commented: “We’re delighted to unveil our new Pay by Bank product for our igaming solution, which will almost certainly prove very effective in both converting and retaining players for US operators, with the product’s impressive transactional speed and robust security.

“Through Pay by Bank, we continue to grow the Paysafe Gateway by providing American operators and their customers with unparalleled payment choices, all through a single integration.”

Paysafe has been working to position itself as one of the leading igaming payments providers in the US. Last year, for example, the firm announced it would start offering card and alternative payment methods to Fanatics Betting and Gaming and its sportsbook customers.

As part of its other ongoing initiatives, the company partnered with global video game commerce company Xsolla last month to create Xsolla Wallet, an embedded finance solution that aims to help developers overcome monetization and engagement challenges whilst simplifying the process of providing attractive incentives for creators.