Payflo announces a collaboration with MoneyGram to launch cash access services for players in the regulated US gambling and lottery industry.
This partnership is expected to meet the growing demand for secure cash payment methods, offering solutions that do not require a bank account or prepaid card.
The service combines Payflo's payment processing technology with MoneyGram's financial network, aiming to provide a simplified and compliant transaction process.
The US gambling and lottery industry is valued at over $100 billion annually, and this program aims to provide players with additional transaction methods while supporting operators in complying with regulatory standards.
Maria Armstrong, North America Sales Director at Payflo, stated: "Our collaboration with MoneyGram brings a unique payment experience, supporting cash deposits and payments—specifically designed solutions for the gaming and lottery markets. This initiative reflects our mission to provide innovative, inclusive payment options while simplifying operations for gaming and lottery operators."
It is worth noting: The service allows players to deposit and withdraw cash at participating MoneyGram locations nationwide, ensuring funds are available the same day.
Anna Greenwald, Chief Growth Officer at MoneyGram, said: "With this new service, players can access funds faster and more conveniently, while gaming operators can obtain a reliable, scalable, and compliant payment solution to foster their growth."
In 2023, MoneyGram collaborated with Play'n Go as part of a sponsorship agreement with the MoneyGram Haas F1 team, reflecting its broader strategy to expand digital and financial services.
The Payflo-MoneyGram service is positioned as a regulatory alternative to existing gaming payment options, with potential future developments including further integration with digital wallets and mobile gaming platforms to expand accessibility.
