" class="no-js "lang="en-US"> PayNearMe Expands Footprint with Approval to Process Online Sports Betting Payments in Kansas - Fintech Finance
Monday, January 30, 2023
Saltedge Report

PayNearMe Expands Footprint with Approval to Process Online Sports Betting Payments in Kansas

PayNearMe, a fast-growing fintech company enabling iGaming and sports betting operators to deliver the best possible player experience around deposits, withdrawals and engagements using a single platform, today announced it has been approved by the Kansas Racing and Gaming Commission (the “Commission”) to provide its MoneyLine™ platform to licensed operators across the state. In conjunction with the state Gaming Commission giving approved operators the green light to launch in the state, five of the company’s sports betting operators are going live with MoneyLine in Kansas — the same day residents can begin wagering.

“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.

With NFL kickoff on Sept. 8, MoneyLine will enable operators to successfully onboard players by offering them a wide range of fast, convenient deposit options and boost player retention by dramatically increasing the speed of payouts, making funds available in minutes. PayNearMe operators also will be able to offer cash as a convenient and guaranteed deposit method.

PayNearMe received the Commission’s approval in August of 2022, expanding its iGaming and online sports betting footprint to 20 states. “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,” Kaplan said. “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.”

Managing deposits and payouts is a complex process that requires technology designed specifically for the sports betting and iGaming industries. “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.”

PayNearMe provides a complete payment platform for online sports betting and iGaming, with a focus on removing friction to enable operators to deliver a best-in-class player journey. With one platform and integration, operators can facilitate deposits, payouts and engagements using data to automate decisioning and better manage payment experiences that ultimately reduce costs and increase revenue.

People In This Post

Companies In This Post

  1. ID-Pal partners with Keystone Property Finance to streamline the client onboarding process for mortgage brokers and borrowers Read more
  2. Nexar Teams Up with Cover Whale to Ensure Safer Rides for Insured Truck Drivers Read more
  3. TransUnion Appoints Linda Zukauckas to its Board of Directors Read more
  4. First Isle of Man Insurtech Accelerator Program finishes on a high Read more
  5. 23 million adults apply or consider applying for financial services products every year Read more
Paris Fintech Forum