PayNearMe, a payments company with a special focus on iGaming, has agreed to a partnership with Pin4 with the aim of enabling operators to give players instant access to their winnings.
Per the agreement, PayNearMe will integrate Pin4’s MoneyLine platform, thereby giving sports betting and iGaming players a streamlined option to withdraw cash at more than 18,000 ATMs throughout the United States.
“Our cash-in at retail option is very popular with players for funding iGaming and sports betting accounts, and those same players want cash withdrawal options,” said Michael Kaplan, Chief Revenue Officer and General Manager of PayNearMe.
“By integrating Pin4 into MoneyLine, operators can now give players the option to withdraw their winnings in real-time via cash at nearby ATMs. Together, we are giving operators a fast and convenient way to enable cash payouts for their players.”
Set to launch in early 2022, players will simply enter their mobile phone number and desired withdrawal amount before receiving a four-digit confirmation text message that allows for cash to be withdrawn.
“Withdrawing funds has always been a significant pain point for players; we’re helping operators solve for that with this partnership,” Kaplan said. “We provide the most — and the industry’s best — deposit and withdrawal options on a single platform and will continue to identify ways to expand these options for operators and their players.”
PayNearMe is licensed to operate in 17 states and intends to further update the MoneyLine platform after its launch next year.
“Instant cash withdrawals can help iGaming and sports betting operators attract more players,” said Rich Witkowski, CEO of Pin4.
“PayNearMe is the leading payments company in the iGaming and sports betting market. The company’s innovation around the player experience makes PayNearMe the ideal partner to help us bring our cash at ATM solution to the US gaming market.”
