Paysafe launches upgraded Skrill digital wallet for iGaming in Ontario

Rhea-AI Summary

Paysafe has launched its revamped Skrill digital wallet for online betting in the Canadian province of Ontario. The upgraded wallet offers instant payments, enhanced user experience, and is tailored to meet the payment preferences of iGaming players. It is now live in Ontario, Canada's most populated province.

Positive

• The upgraded Skrill wallet allows Ontarians to instantly fund wagers and effortlessly cash-out winnings, providing a streamlined and intuitive user experience. Paysafe's research shows that 73% of Ontarian online sports bettors have deposited at sportsbooks using a digital wallet, indicating a high demand for this payment option. The launch of the upgraded Skrill wallet will better serve these customers and give Ontarian operators a competitive edge in acquiring and retaining customers.

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• None.

Online sportsbooks in Canadian province can now offer players the iGaming-tailored wallet with instant payments and enhanced UX

LONDON--(BUSINESS WIRE)-- Paysafe (NYSE: PSFE), a leading payments platform, today announced the launch of its revamped Skrill digital wallet for online betting in the Canadian province of Ontario. Developed specifically to meet the payment preferences of iGaming players, the upgraded Skrill wallet allows Ontarians to instantly fund wagers and effortlessly cash-out winnings while enjoying a streamlined and intuitive user experience (UX).

Launched in the U.S. in 2021 and available across all 26 American iGaming jurisdictions where Paysafe supports operators, the upgraded Skrill wallet is now live in Ontario, Canada’s most populated province (14.2m residents) which launched an expanded market for private operators in April 2022. With Paysafe’s 2023 All the ways players pay research revealing that 73% of Ontarian online sports bettors have deposited at sportsbooks using a digital wallet, the latest Skrill innovations will allow operators to better serve these customers, who favour wallets for their transactional security and speed.

Now, after a streamlined registration process with Skrill that links Ontarians’ bank accounts to the wallet and takes just seconds, players can use Skrill to deposit instantly yet securely into sportsbook accounts via online bank transfer. Alternatively, online bettors can load funds to their Skrill wallet balance using the Paysafecash eCash solution. For returning Skrill users, the redeposit process is even more rapid, skipping log-in (when ‘remember me’ is activated) to deposit with a single click.

Ontarians will also enjoy the wallet’s state-of-the-art ‘look and feel’, with Skrill boasting a seamless UX across desktop, iOS and Android apps that meets the transactional expectations of casual players to high-stakes VIP sports bettors moving money across multiple sportsbooks. Through a ‘tiled’ display, all the info a player needs is centralized, ensuring an uninterrupted depositing process.

Cashing-out is just as simple, with funds accessible in players’ Skrill accounts in real time. Winnings can either be spent online using Skrill at supporting merchants or transferred to players’ linked bank accounts.

Zak Cutler, President of Global Gaming at Paysafe, said: “Since we first rolled-out the new Skrill in the U.S. two years ago, we feel it’s been a game changer for the payments experience of American players. We expect the upgraded wallet to be just as well received north of the border, with Skrill giving Ontarian operators a competitive edge when it comes to acquiring and retaining their customers.”

About Paysafe

Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading payments platform with an extensive track record of serving merchants and consumers in the global entertainment sectors. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With 25 years of online payment experience, an annualized transactional volume of over $130 billion in 2022, and approximately 3,300 employees located in 12+ countries, Paysafe connects businesses and consumers across more than 250 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Further information is available at www.paysafe.com.

About Paysafe iGaming

Paysafe brings over two decades of specialized payments experience supporting the global iGaming and sports-betting sectors and provides operators with a comprehensive suite of traditional and alternative payment methods through a single, streamlined API integration. Paysafe is also a leader in digital and affiliate marketing technology and services for iGaming operators through its Income Access business unit.

Since the opening-up of the U.S. iGaming market in May 2018, Paysafe has consistently stated its ambitions to be the payments leader in the fast-growing sector, building on its leadership in Canada and Europe. As of May 10^th, 2023, the company supports 75% of operators in the country with payments or marketing solutions across 26 jurisdictions. In Canada, Paysafe also has a leading position and partners with the majority of regulated iLottery and gaming brands.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230510005161/en/

For further information about Paysafe:

The Paysafe Press Office via PR@Paysafe.com

Source: Paysafe Limited

FAQ

What is the upgraded Skrill digital wallet?

The upgraded Skrill digital wallet is a payment solution tailored for iGaming players. It offers instant payments, enhanced user experience, and allows Ontarians to fund wagers and cash-out winnings effortlessly.

Where is the upgraded Skrill wallet available?

The upgraded Skrill wallet is currently available in the Canadian province of Ontario.

What is the population of Ontario?

Ontario is Canada's most populated province with 14.2 million residents.

Why is the upgraded Skrill wallet important for Ontarian operators?

The upgraded Skrill wallet allows Ontarian operators to better serve their customers and gain a competitive edge. Paysafe's research shows that 73% of Ontarian online sports bettors prefer using a digital wallet for their transactions.

What are the benefits of the upgraded Skrill wallet for users?

The upgraded Skrill wallet offers a streamlined and intuitive user experience, instant funding of wagers, effortless cash-out of winnings, and transactional security and speed.