The Green Sheet Online Edition
September 08, 2014 • Issue 14:09:01
Lucky proposition for ISOs
First Data Corp. entered the legal online and offline gambling industry with its PayLucky Solutions end-to-end payment offering. According to recent research, the industry generates about $36.7 billion globally in annual revenues. In the U.S. market revenue generated by onshore regulated activity is projected to reach $2.6 billion by 2017. Increased player participation at lottery, poker, racetrack and casino venues is expected to see the largest gains moving forward.
"First Data exists to help our clients grow their businesses, and what the gaming industry needs to grow, and serve their customers better, is a dynamic one-stop-shop for the widest variety of payment options that include debit, credit, check, mobile, loyalty and prepaid processing," said Jonathan O'Connor, General Manager, Online Gambling and Alternative Markets at First Data.
With PayLucky, gambling operators can have a single source provider for players to pay in and pay out based on payment preference. "PayLucky takes the complexity out of managing multiple providers and creates a streamlined experience for the U.S. gambling market with built-in risk management protections for all parties," O'Connor noted.
According to First Data, with instant access to funding, qualified players have the ability to play immediately. PayLucky facilitates player access to funds via such payment options as an open-loop or closed-loop prepaid card, automatic clearing house (ACH) deposit to a checking account or paper check. Also included is the TeleCheck Warranty ACH service, which gives operators third-party validation and proprietary analytics on player spending habits, First Data added.
Additional benefits of PayLucky Solutions include:
- Instant access to funding for qualified players
- Secure payment platform for operators
- Warranty ACH service for operator protection
- VIP and loyalty program capabilities for operators
First Data predicts that advancing technologies, like those available in PayLucky, will drive further innovation in this industry segment to include VIP programs for qualified players to participate at higher levels, and loyalty programs that are linked to payments through a secure mobile application or wallet, among others.
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