Payment platform Nuvei has said it’s joining up with Fifth Third Bank, National Association in order to add real-time deposits for sports betting and iGaming in the U.S., a press release from Nuvei says.
This rollout will let merchants receive instant real-time deposits.
It will differ from traditional deposits with the ACH Network payment system, which can take several days to settle. The real-time deposits use The Clearing House’s RTP network and move more quickly. The release says this “good funds” model cuts down on fraud and the risk for insufficient funds.
Operators also benefit from receiving a positive confirmation status in order to confirm successful deposits, and that can boost market trust.
In addition, the release said the real-time deposits can work well for sports betting, because as the betting is going on in real time during sporting events, players have to be able to fund their gaming account instantly and safely.
“This is a game-changer for merchants. Real-time deposits will revolutionize the way payment solutions are provided for online gaming operators, making expensive guaranteed payment options obsolete,” said Philip Fayer, Nuvei’s chair and CEO. “The rollout marks another step in our journey as our presence in the U.S. sports wagering and iGaming industries expands and as our team continues to provide a range of leading payment solutions for players and merchants.”
See also: Nuvei Expands Partnership With Casino Company Novibet
PYMNTS wrote that Nuvei announced Monday that it’s expanding a partnership with Novibet, a European betting and online casino company, to add more payments as it expands around the globe.
The report says the partnership will let Novibet offer its players a way to deposit “seamlessly and securely” with Apple Pay.
“Apple Pay’s convenient checkout user experience makes it an attractive deposit option, in particular for returning players that want to upload funds through the quickest possible method,” Novibet said.
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