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Paysafe Expands betPARX® Partnership Into Pennsylvania and New Jersey
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Paysafe (NYSE: PSFE) has expanded its partnership with betPARX, enhancing payment options for betPARX mobile apps in Pennsylvania and New Jersey. This collaboration allows users to make deposits using credit or debit cards via Paysafe's payment gateway. Additionally, betPARX users can utilize alternative payment solutions like Skrill USA and Paysafecash for transactions. The partnership aims to improve customer conversion and retention in key U.S. iGaming markets. Paysafe continues to establish its presence in the growing U.S. iGaming sector.
Positive
Expansion of partnerships with betPARX enhances payment options in key states.
Introduction of alternative payment solutions like Skrill USA and Paysafecash improves user experience.
Strengthens customer conversion and retention for both brands in the competitive iGaming sector.
Negative
None.
betPARX apps plug into Paysafe for multiple traditional and alternative payment methods
HOUSTON--(BUSINESS WIRE)--
Paysafe (NYSE: PSFE), a leading specialized payments platform, has expanded its partnership with betPARX®, a Pennsylvania-based gaming company owned by Greenwood Gaming and Entertainment, Inc. Building on Paysafe’s payments support for the Play Gun Lake brand in Michigan that is powered by betPARX, Paysafe will now also provide payments for the betPARX mobile apps for Pennsylvania and New Jersey.
Through Paysafe’s integration with betPARX technology partner Playtech’s iGaming PAM Information Management Solution (IMS) platform, users in both Pennsylvania and New Jersey can make streamlined deposits to fund their betPARX accounts with their credit or debit card. All transactions will be processed seamlessly through Paysafe’s best-in-breed payment gateway.
betPARX users can also fund their wagers using Paysafe’s alternative payment solutions. These include the Skrill USA digital wallet, which was upgraded in Q4 with new functionality for instant funding of deposits, plus Paysafe’s Paysafecash and paysafecard eCash solutions.
Paysafe will also enable betPARX users to cash-out winnings. Payouts can be transferred directly into players’ Skrill USA accounts, with funds accessible in real time or through their bank accounts.
Zak Cutler, CEO of North America iGaming at Paysafe, said: “We’re delighted to extend our partnership with betPARX into two major states in the U.S. iGaming space – New Jersey, the cornerstone of the whole market since 2013, and Pennsylvania. We look forward to facilitating payments for betPARX and its players in both states to strengthen the two brands’ customer conversions and retention.”
Matthew Cullen, Senior Vice President of Interactive at betPARX, commented: “We are proud to extend betPARX’s partnership with an industry-leading payment technology provider. We constantly look for features that will round-out our service to users and make betPARX the simplest and fastest app, and Paysafe delivers easy and user-friendly deposit and cash-out options.”
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading specialized payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualized transactional volume of over U.S.$120 billion in 2021, and approximately 3,500 employees located in 10+ countries, Paysafe connects businesses and consumers across 100 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Further information is available at www.paysafe.com.
About Paysafe iGaming
Paysafe brings over two decades of specialized payments experience supporting the global iGaming and sports-betting sectors and provides operators with a comprehensive suite of traditional and alternative payment methods through a single, streamlined API integration. Paysafe is also a leader in digital and affiliate marketing technology and services for iGaming operators through its Income Access business unit.
Since the opening-up of the U.S. iGaming market in May 2018, Paysafe has consistently stated its ambitions to be the payments leader in the fast-growing sector, building on its leadership in Canada and Europe. As of April 7th, 2022, the company supports 75% of operators in the country with payments or marketing solutions across 21 jurisdictions. In Canada, Paysafe also has a leading position and partners with the majority of regulated iLottery and gaming brands.
About betPARX®
betPARX® is a wholly owned subsidiary of Greenwood Gaming & Entertainment and features retail sports betting with a 7,500 square foot world-class sportsbook at Parx Casino. betPARX operates best in class iGaming and online/mobile sports betting products in Pennsylvania, New Jersey, Michigan and soon to launch in Ohio. For more information on betPARX®, visit www.betparx.com.
About Parx Casino®
Parx Casino® is owned and operated by Greenwood Racing, Inc. and is the #1 revenue generating casino property in Pennsylvania. Parx Casino® is conveniently located 20 minutes north of center city Philadelphia, I-95 exit 37 or PA Turnpike exit 351 (westbound), exit 352 (eastbound) on Street Road in Bensalem Bucks County. Parx features over 200,000 square feet of gaming; 3,270 slot machines and 124 live table games; 48 poker tables in custom built private room; live racing & simulcast action; Xcite Center, 1,500 seat live entertainment venue; 360 a sleek bar and lounge; Liberty Bell Gastropub, farm-to-fork inspired menu; Parxgrill, an upscale signature restaurant; Foodies quick service dining; Chickie's & Pete's Crab House and SportsBar; Jax sports bar; Circle Bar; Bambu; Xlounge, luxury casino lounge; a massive year-round Beer Garden and complimentary parking for over 5,000 cars. In 2019, Parx Casino® launched sports betting with a $10M world-class sportsbook. Also in 2019, Parx launched online gaming and online sports betting. For more information on Parx Casino®, visit www.parxcasino.com.
