IGaming and sports betting players can now withdraw funds to their bank accounts instantly via The Clearing House’s RTP® network
TORONTO and CINCINNATI, April 27, 2021 / PRNewswire / – A Partnership Between Mazooma, The Gaming Industry Leader For Bank Account-Based Payments, And Fifth Third Bank, NA Brings Real-Time Withdrawals To The Sports Betting And iGaming Industries Through The RTP® Network by The Clearing House. The offer, now available to all Mazooma operators, allows players to receive payments immediately to their bank accounts, safely and securely, 24/7/365.
Instant payouts are a win-win for players and operators. Players enjoy peace of mind with the ability to instantly access their winnings. For the gaming operator, real-time withdrawals provide a better user experience than any other payment method available. These transactions are fully authenticated by bank account verification initiated by the Plaid user and are subject to rigorous risk management controls by Mazooma. In addition, all transactions are good funds, irrevocable and offer positive confirmation of payment status, thus building credibility and confidence in the market.
“This is an exciting time for Mazooma. Last week, Nuvei Corporation announced the agreement to acquire Mazooma. This week we are delighted to offer the ability to process payments in real time,” mentionned Dave roe, Director of Operations at Mazooma. “Coupled with Plaid’s transparent account verification, these innovative enhancements provide the best gaming experience on the market. Getting Fifth Third and The Clearing House involved in the transition to real-time payments is a game-changer. ”
“The sports betting and iGaming industries are strategic growth markets, and we are delighted to be a part of this innovative product launch,” mentionned Josh Dunaway, Vice President and Head of Cash Management at Fifth Third. “Through Integrated Payments, we are extending our reach and helping to enable an omnichannel consumer-centric experience. We couldn’t be happier with the strategic relationship with Mazooma and The Clearing House and its benefits to the gaming industry by. line.”
“The RTP network provides a platform for financial institutions, fintechs and businesses to create new innovative payment products for their customers”, mentionned Steve ledford, senior vice president of strategy and product development, The Clearing House. “Mazooma and Fifth Third’s instant payment offering is a great example of how the RTP network facilitates payment innovation.”
Real-time withdrawals are available to traders through Mazooma’s instant bank transfer product, and that’s just the start. Soon, the impending launch of real-time deposits promises to set a new industry bar for transparent payments in the sports betting and online gaming industries.
Mazooma is a global payments technology company whose mission is to simplify payments. As a leading solution in sports betting and iGaming, our patented technology sits on the cash desk of sports betting and iGaming operators in the U.S. Delivering a top-notch experience, seamless integration and secure banking connections , Mazooma creates enthusiastic fans of traders and consumers. Based at Toronto, Canada, the company is trusted by leading brands such as DraftKings, BetMGM, theScore and PartyPoker. Mazooma recently entered into a definitive agreement to be acquired by Nuvei Corporation, subject to the approval of the Toronto Stock Exchange. To learn more, visit mazooma.com.
About Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. From December 31, 2020, Fifth Third had $ 205 billion assets and operated 1,134 full-service banking centers and 2,397 ATMs with the Fifth Third brand in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and Caroline from the south. In total, Fifth Third offers its customers access to approximately 52,000 toll-free ATMs. United States. Fifth Third operates four main businesses: commercial banking, branch banking, consumer lending, and wealth and asset management. Fifth Third is one of the largest fund managers in the Midwest and, as of December 31, 2020, had $ 434 billion of assets supported, of which he managed $ 54 billion for individuals, corporations and not-for-profit organizations through its trust and registered investment advisory activities. Investor information and press releases can be found at www.53.com. The common shares of Fifth Third are traded on the Nasdaq® Global Select Market under the symbol “FITB”. Fifth Third Bank was established in 1858. Deposit and credit products are offered by Fifth Third Bank, National Association. FDIC member.
About the clearing house
The Clearinghouse operates US-based payment networks that clear and settle over $ 2 trillion daily by wire transfer, ACH, check image and real-time payments. It is the most experienced payments company in the country, with a long history of delivering secure and reliable systems, payments innovation and strategic thought leadership to financial institutions. More recently, The Clearing House revolutionized the payment infrastructure in the United States with the RTP® network, which supports immediate payment clearing and settlement, as well as the ability to exchange associated payment information through the same secure channel. These RTP capabilities enable all financial institutions to deliver safer, faster and smarter digital transaction services to their corporate and retail customers. Learn more about www.theclearinghouse.org.