Mobile cash payments platform PayNearMe is giving sports gambling winners real-time access to their winnings through an integration with FinTech Pin4, according to a Monday (Nov. 29) press release.
The partnership, set to officially launch early next year, will expand payout options to allow iGaming and sports betting players instant access to cash withdrawals at 18,000 ATMs across the nation.
“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.”
To begin a cash withdrawal, the player enters their mobile phone number and cash out amount. Once the operator processes the request, the player will receive two text messages confirming the transaction, providing an order number and a locator map identifying ATMs in the area, according to the press release.
The announcement follows last month’s launch of MoneyLine, the platform used to implement the latest innovation.
Read more: PayNearMe Launches MoneyLine iGaming Tool
PlayLive!, the online casino affiliated with Live! Casinos & Hotels in Philadelphia and Pittsburgh, already use the MoneyLine platform, according to PYMNTS.
PayNearMe, which was founded in 2009, processes all forms of payments, including cards, ACH, Apple Pay and Google Pay.
Earlier this year, PayNearMe joined forces with Walmart to allow customers to make cash payments for bills through the Green Dot Network, according to PYMNTS.
See also: Walmart, PayNearMe Team To Offer Cash Bill Payment Services
Pin4 began rolling out its cardless cash network in February 2016. The first phase provided access at Pin4-enabled ATMS in New York City, Miami, Chicago and Los Angeles.
Related news: Pin4 Open Cardless Cash Network Goes Live
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