By integrating Atleos’ application programming interface (API)-based technology with the Cardless Cash at ATM feature in its MoneyLine platform, PayNearMe aims to provide its clients with an improved cash withdrawal experience for their players at thousands of ATMs, the companies said in a Monday (Oct. 23) press release.
With this solution, the companies aim to make it easier for customers and players to receive their winnings in cash, avoiding the challenges associated with traditional methods of accessing cash from a gaming app, according to the release. Users receive a secure code delivered via their iGaming and online sports betting applications, which they use at select ATMs to access their winnings.
PayNearMe’s technology is already utilized by nine of the top 10 online gaming operators and 16 of the 17 largest online casinos in the U.S., the release said. This partnership with Atleos may attract more players by offering them easier access their winnings from conveniently located ATMs.
John Minor, chief product officer at PayNearMe, said in the release: “With Atleos’ innovative technology and expansive nationwide footprint of ATMs, our clients can provide the option for players to easily access their winnings from the convenience and safety of stores they’re already frequenting.”
Stuart Mackinnon, chief operating officer at Atleos, added: “This relationship will help drive foot traffic to partner merchants with supported ATMs in a scalable, self-service manner.”
PYMNTS Intelligence has found that 87% of gamers receiving winnings payouts via cash are highly satisfied — a share that is higher than all other payment methods. Cash is also the most common form of instant payment for gaming, gambling or lottery payments, according to “Generation Instant: Gaming and Winnings,” a PYMNTS and Ingo Money collaboration.
PayNearMe launched its MoneyLine platform in 2021 to help manage the complexities of iGaming money movement.
Michael Kaplan, chief revenue officer and general manager at PayNearMe, said at the time: “Deposits and payouts are the most crucial touchpoints operators have with their players. When there is friction at these touchpoints, players drop off and operators lose revenue.”