Gaming Payments Company Mazooma Launches Immediate Payout Feature

Gaming Payments

The gaming payments provider Mazooma has unveiled a new feature that allows players to receive immediate payments into their bank accounts. This feature is the result of a partnership between Mazooma and Fifth Third Bank, with real-time withdrawals for sports wagering and iGaming players available via the RTP network from The Clearing House.

This program, which is now live for all Mazooma operators, lets players receive automatic payouts 24 hours a day, 365 days a year.

“Immediate payouts are a win-win for both players and operators,” Mazooma said in a news release on Tuesday (April 27). “Players enjoy peace of mind with the option to access their winnings instantly. For the gaming operator, real-time withdrawals offer a better user experience than any other payment method available.”

Mazooma said that transactions will be authenticated with Plaid’s user-initiated bank account verification, and will be subject to strict management checks.

“The sports wagering and iGaming industries are strategic growth markets, and we are excited to participate in this innovative product launch,” said Josh Dunaway, vice president and treasury management officer at Fifth Third. “Through integrated payments, we extend our reach and help enable a consumer-focused omnichannel experience.”

While online gaming is growing in popularity, the speed at which players recoup their earnings has traditionally been a sore spot for the industry. Disbursements are key to providing fast access to winnings and keeping consumers satisfied. As PYMNTS reported last year, “digital betters are not likely to be satisfied waiting the five days it takes for an automated clearing house (ACH) settlement or even for a paper check to arrive in the mail.”

Mazooma’s announcement comes less than two weeks after the Toronto-based company was acquired by the payments technology provider Nuvei. The $56 million dollar deal includes “additional consideration subject to specific performance criteria” that could bring the total amount to $315 million.”