PayNearMe announces partnership with Pin4 to provide players instant access to their winnings
By Edlyn Cardoza
PayNearMe, the payments company designed to manage the complexities of iGaming, recently announced a partnership with Pin4 to enable operators to give players instant access to their winnings. PayNearMe’s integration of Pin4’s patented technology into its MoneyLine platform gives iGaming and sports betting players a quick and easy option to withdraw their funds in cash at more than 18,000 ATMs across the nation.
“Our cash-in at retail option is very popular with players for funding iGaming and sports betting accounts, and those same players want cash withdrawal options,” said Michael Kaplan, Chief Revenue Officer and General Manager of PayNearMe. “By integrating Pin4 into MoneyLine, operators can now give players the option to withdraw their winnings in real-time via cash at nearby ATMs. Together, we are giving operators a fast and convenient way to enable cash payouts for their players.”
To initiate a cash payout, the player enters their mobile phone number and withdrawal amount. Once processed by the operator, the player receives two text messages:
- A four-digit order number, the dollar amount of the payout and the time window for withdrawing funds
- A link to a locator map that identifies ATMs in the area where the player can immediately withdraw the funds
The player simply enters their mobile phone number, the amount of the withdrawal, the order number and a separate secure four-digit PIN into a participating ATM to receive their funds in cash.
“Withdrawing funds has always been a significant pain point for players; we’re helping operators solve for that with this partnership,” Kaplan said. “We provide the most — and the industry’s best — deposit and withdrawal options on a single platform and will continue to identify ways to expand these options for operators and their players.”
“Instant cash withdrawals can help iGaming and sports betting operators attract more players,” said Rich Witkowski, CEO of Pin4. “PayNearMe is the leading payments company in the iGaming and sports betting market. The company’s innovation around the player experience makes PayNearMe the ideal partner to help us bring our cash at ATM solution to the U.S. gaming market.”
Pin4 will be available in the MoneyLine platform in early 2022. PayNearMe will continue to add innovative deposit and withdrawal options to its platform.
PayNearMe operates and processes payments for licensed operators in 17 U.S. states and is expanding its gaming footprint as new states legalize iGaming and online sports betting. PayNearMe’s MoneyLine platform is designed to remove friction, enabling operators to deliver a best-in-class player journey. With one platform and integration, iGaming and sports betting operators can facilitate deposits, payouts and engagements using data to automate decisioning and better manage payment experiences that ultimately reduce costs and increase revenue.
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