Sightline Payments launches integrated gaming payment solution
The new product aims to reduce inefficiencies in digital gaming transactions.
Key Points
- Sightline and Cross River launch Sightline Debit, a new payments ecosystem for US gaming
- The solution aims to cut industry payment costs through reduced transaction churn
- The product provides customers with FDIC-insured accounts and VISA debit cards
Fintech company Sightline Payments has partnered with Cross River Bank to develop Sightline Debit, described as the first integrated payments ecosystem specifically designed for the US gaming industry.
The new product aims to reduce inefficiencies in digital gaming transactions, offering cost savings for operators and greater control for players.
The payment system creates a demand deposit account through Cross River, Member FDIC, allowing gaming customers to access funds through a VISA network debit card.
This approach differs from traditional gaming payment models by eliminating the cycle of deposits and withdrawals that characterize current industry practices.
According to Sightline, the gaming industry faces payment costs averaging 4.5 times higher than other sectors.
The company projects that widespread adoption of Sightline Debit could reduce money churn by 40%, potentially saving the digital gaming industry approximately $700m annually.
Over five years, total industry savings could reach $3.5bn, according to company projections.
The system offers customers an FDIC-insured bank account with direct access to their funds through the debit card, providing spending flexibility beyond gaming activities.
Commenting on the development, Sightline CEO Omer Sattar stated: “We saw an opportunity to solve one of the biggest and most costly inefficiencies in digital gaming, and we knew Cross River was the perfect partner to help us bring it to life.
“We are thrilled to have them with us as we reshape the gaming industry and we could not have done this without their vision and commitment to deep-rooted structural innovation.”
Cross River’s Chief Fintech Officer Adam Goller added: “Our collaboration with Sightline marks a major leap forward for payments in the gaming industry.
“By leveraging our proprietary banking core with Sightline’s deep industry expertise, we co-developed a first-of-its-kind solution that merges two previously siloed financial systems into one intuitive, real-time experience. It’s a powerful example of how embedded finance can drive real transformation at scale.”
The first phase of Sightline Debit is scheduled to launch in several US digital gaming markets in the coming weeks.
This development builds on Sightline’s existing relationships in the gaming payments sector, including a renewed 10-year partnership with payment processor i2c announced in March 2024.
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