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Payments sector on the cusp of next revolution, states Parimatch

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Since its humble beginnings as a retail bookmaker in 1994, Parimatch has adapted significantly to betting’s digital growth to emerge as the sole company in the CIS region to offer unique credit card payment methods, becoming a market leader in its own right. As the industry faces a new wave of payment progress Nick Izmaylov, the company’s Managing Partner, explores the impact of payment consolidation, the growth of “invisible” authorisation and the coming payment method revolution.

Following the replacement of its physical footprint with a digital platform when the company moved online in 2000, 95% of Parimatch‘s revenue streams are now derived digitally causing them to adapt payment methods in innovative ways. “Secure and reliable payment methods are a key value driver for our growth, which is why we take a bespoke approach for each market we operate in,” explained Izmaylov. “For example, when I joined the company seven years ago, there was no local credit card processing in most of the CIS countries. International solutions like Safecharge or Wirecard were not an effective solution. The only way I could see us gain market share was to create a payment method which would allow us to accept payment from a customer’s credit card. So that’s exactly what we did! Now, Parimatch is the only company that has such a unique payment solution, allowing us to become a market leader in the region.”

As operators continue to develop their digital presence and expand their reach into new international markets, Parimatch continues to adapt its focus to enhance its partners’ relationships with online payments processors as the company foresees significant changes on the horizon. Izmaylov said: “It is impossible for multinational brands to operate the same way in each country it has a presence in. We predominantly operate in the CIS and Eastern Europe market, and cannot adopt the same product and payment approach in Kazakhstan as in Belarus or any other neighbouring country, for example. The same applies to online payments companies and processors. They might be suitable for five, six or maybe even ten markets, but not for all. Some markets only work by partnering with aggregation modules which means that you are working with completely different companies and technologies.”

“The payment sector has developed as a result of growth in related industries,” he continued. “Payment companies need to keep up with innovation in the industries and markets which it supports. The payment sector has experienced its revolutions; my favourites are the creation of Visa and MasterCard payment systems – both from an administrative and technological point of view and the creation of SWIFT – from an administrative point of view. The payment method sector is on the cusp of its next revolution, with the integration of Blockchain technology into database systems, such as via Government, Tax, loan histories, PS bases, etc. I believe this revolution will increase the level of operational transparency, which can only be a positive thing.”

In its early days, betting online was seen as high risk with regards to security, processing fees and third-party methods, but the investment into payments by companies like Parimatch has allowed more security, reliability and confidence for players and operators alike. “Payment methods players are using when betting online is now just as safe as any classical payments when carried out with a respected platform,” stated Izmaylov. “The level of compliance required to obtain relevant licenses helps to uphold industry standards around financial security. At Parimatch we hold more than ten licenses, all with high standards of regulations, ensuring there is no risk with our own, or our third-party suppliers’, payment systems.”

As the revolution Izmaylov predicts beckons with industry consolidation a possibility as big betting players enter new markets and major global brands testing the waters of how partnerships across countries can benefit them, Parimatch is confident it will be at the vanguard of coming trends. Commenting on which factors or technology will have the biggest impact on online payments going into 2020 and beyond, Izmaylov concluded: “Online payments are, in its essence, the process of transferring funds from one person – the customer, to another – the vendor. The most significant impact technology will have on the automation of the authorization of the customer. At the moment, payment companies are doing a considerable amount of manual work regarding AML, KYC and this is having an impact on the level of service provided to the customer. This is why I think that the most vital competition among industry players will be in the field of “invisible” compulsory authorization procedures.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Payments sector on the cusp of next revolution, states Parimatch

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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ZITRO TO SHOWCASE DIVERSE PORTFOLIO AT G2E ASIA 2024

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As excitement builds for G2E Asia 2024, Zitro is poised to take center stage, showcasing its cutting-edge gaming products for the Asian gaming market. The event will be held at The Venetian Macao, from June 4-6, 2024.

Zitro’s growing presence in Asia is evident. The company’s recent expansion in the Philippines, with its most successful slot games soon to launch at major Integrated Resorts in Manila (Newport, Okada, and Solaire North), marks a significant step forward in its Asian growth strategy. This momentum positions Zitro for even greater growth in Asia, with more exciting installations on the horizon.

Among the highlights, attendees can expect to experience Zitro’s innovative gaming offerings firsthand. From video slot games to the online universe of Zitro Digital, the company will offer a comprehensive suite of products that deliver both player engagement and revenue growth.

Attendees can expect to see the popular ‘Fu Frog’ and ‘Fu Pots’ games on display, featuring persistent elements and multi-level progressives, along with ‘Drum Dynasty’, which promises thrilling gameplay with its unique Bonus Mighty and Bonus Power that enhances Link symbol prizes. Zitro will also be featuring ‘Epic Empires’, a multi-game experience featuring a new 3-level link Evolution bonus, and the ever-popular “88 Link” series, renowned for its captivating Asian-themed graphics and mechanics.

On the online side of the business, the company is excited to showcase the family of games, ‘Mighty Hammer’, ‘Bashiba Link’, ’88 Link’, ‘Link King’, and ‘Link Me’. Jointly with an extensive Video Bingo collection, Zitro Digital will also present its latest gamification tools such as tournaments and missions, alongside enhanced features such as Buy Bonus and Free Rounds.

The post ZITRO TO SHOWCASE DIVERSE PORTFOLIO AT G2E ASIA 2024 appeared first on European Gaming Industry News.

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7777 gaming expands African reach with Integration of Casino Games on betPawa

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7777 gaming, a prominent provider of online casino games, is thrilled to announce its partnership with betPawa, a well-established and trusted online sports betting brand operating across Africa. This collaboration marks a significant milestone for both companies, bringing a diverse selection of 7777 gaming’s top-quality casino games to betPawa’s extensive user base.

Through this partnership, betPawa gains access to 7777 gaming’s full portfolio of 140+ captivating casino games. The integration begins with an exciting lineup of instant win games, including Mayan Gold, Multi Wins, Cash 20x, FunFair 2x, Zeus Quest, Honey of Gold, Golden Scarab, Bucks Detective, Jungle Conquest, and Happy Sheep. These engaging titles promise to enhance betPawa’s gaming offerings, providing its users with even more entertainment options.

Elena Shaterova, Chief Commercial Officer at 7777 gaming stated:, “We are delighted to partner with betPawa and expand our presence in the African market. This collaboration allows us to showcase our diverse range of high-quality casino games to a broader audience, providing them with unparalleled entertainment and gaming experiences.”

Chris Worthington, Head of Casino at betPawa commented, “We are excited to welcome 7777 gaming’s impressive selection of casino games to our platform. Our priority has always been to offer our users the best gaming content, and this partnership aligns perfectly with our commitment to delivering exceptional entertainment and value to our customers.”

betPawa, recognized as one of Africa’s premier online sports betting platforms, boasts over 10 million users spanning multiple countries including Nigeria, Kenya, Tanzania, Malawi, Sierra Leone, Ghana, Benin, Cameroon, DR Congo, Rwanda, Uganda, and Zambia. Renowned for its simplicity, reliability, and security, betPawa is the go-to destination for African bettors seeking a seamless and trustworthy betting experience.

The post 7777 gaming expands African reach with Integration of Casino Games on betPawa appeared first on European Gaming Industry News.

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Live88 launches to shake up live casino market

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New provider reshapes live casino space with fully customisable offering 

Live88, a new live casino supplier, has made its debut in the market, providing a customisable offering across a host of live table games.

The new brand aims to provide premium casino titles to operators, offering dedicated tables that can be fully branded and tailored to suit specific needs. Alternatively, Green Screen technology allows operators to easily offer a top-quality live casino with a branded background.

Fully responsive to real-time gameplay, operators can integrate an individually tailored product incorporating reactive animated backgrounds for a unique and immersive experience for players.

Live88 enables operators to adjust bet levels on the tables to suit different player segments, from beginners to VIP high rollers.

With added social features, Live88 aim to inject a community element into gaming, with the product suite enabling players to come together to share the thrill and fun to boost engagement and retention rates for operators.

Launching with an existing portfolio of classic table games, Live88 has also today rolled-out its latest title, Royal Riches Roulette, featuring an industry-first collection-style bonus game and generous multipliers.

Four multipliers can randomly land among 37 standard numbers with each one worth up to 1,000x when landing in a winning number. Players collect keys to start the bonus where multipliers offering up to 500x will be hidden beneath the game’s 10 ornate relics.

The new product offering will be made available via Hub88’s aggregation platform in numerous global markets.

James Corrie, Head of Live Games and RNG at Live88, said:  “Whether it’s custom branded tables with dedicated live dealers in a range of different languages, or a fully kitted out lobby with Live88 tables decked out to match a casino brand, we allow operators full flexibility and the highest-quality games.

“Live casino is a hugely popular product globally and our offering takes this vertical to the next level, encouraging players to come together. Our latest title, Royal Riches Roulette, is a great example of how we aim to innovate in the space, bringing industry-first features to players and there is more to come as we set off on this exciting journey.”

The post Live88 launches to shake up live casino market appeared first on European Gaming Industry News.

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