Gaming payments platform Sightline Payments has secured a strategic investment from J.P. Morgan Payments and said the firms will work together to develop an integrated omnichannel solution for resort and online gaming companies.
This investment follows the announcement earlier this year that J.P. Morgan Payments would become the primary merchant acquirer for Sightline’s Play+ ecosystem, which helps consumers access gaming and entertainment at regulated digital gaming companies in the United States, Sightline Payments said Thursday (Oct. 20) in a press release.
Read more: Sightline Taps JPMorgan Payments as Play+ Processor
“A gaming patron’s money should be safe, secure, and should follow that patron effortlessly through their digital and [brick-and-mortar] lifecycle,” Sightline Co-founder and Co-CEO Omer Sattar said in the release. “We are confident that a strategic relationship with J.P. Morgan Payments will allow us to deliver a unique mobile user experience for those gaming industry patrons and power the digital transformation for gaming operators.”
Sightline expanded its Play+ product in 2021 to support cashless gaming at casinos. With this offering, consumers can place their funds in a secure account and use them with more than 80 Sightline partners in the sports betting, lottery, horse racing, and online and brick-and-mortar casino markets — all while earning loyalty rewards for their spending, according to the press release.
“We believe that industry-specific contextual software is critical to powering any payments ecosystem to create a unique, engaging consumer experience and also to transform the revenue potential for merchants,” J.P. Morgan Payments Head of eCommerce and Marketplaces Sanjay Saraf said in the release. “This investment serves as one part of a multi-channel payments strategy J.P. Morgan Payments will be launching in the gaming and resort space in the coming months.”
Sattar sees the entire live gaming and online gaming metaverse converging to the point where Sightline will be able to power a variety of touchless real-time payments and payouts over time, he told PYMNTS’ Karen Webster in an interview posted in August 2021.
See also: Sightline Payments Bets On Cashless Casinos For The Future Of Live Gaming
“Once you have that single mobile app with a single account tied to loyalty, you can spend money in sports and gaming,” Sattar said, adding that consumers could use their funds at a sports arena, at slot machines, at a gaming table, on retail good or on food and beverage.
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