First Data bets on US gaming with PayLucky payment solutions

Global payment technology leader First Data is expanding its support for online gambling in the US, with intentions of global expansion with the introduction of its new PayLucky payment solution.

Preparing itself to offer a robust payment solution for the growing global adoption of internet gambling, First Data’s focus will be on the growing gambling industry in the US, both online and offline. First Data as of now is focusing on land-based casinos, Native-American casinos, racetrack betting, lotteries, and poker, to name a few.

The global gambling market, First Data is preparing to enter with PayLucky, brought in a revenue of $36.7 billion in 2013. The US is expected to be responsible for %15 of global gambling revenue by the year 2017 resulting in $2.6 billion being brought in by US regulated gaming.

“First Data exists to help our clients grow their businesses and what the gaming industry needs to grow, and serve their customers better, is a dynamic one-stop-shop for the widest variety of payment options that include debit, credit, check, mobile, loyalty and prepaid processing. PayLucky takes the complexity out of managing multiple providers and creates a streamlined experience for the U.S. gambling market with built-in Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term protections for all parties,” said Jonathon O’Connor, general manager, Online Gambling and Alternative Markets.

With PayLucky, First Data will offer a comprehensive suite of payment services offering support for debit & credit cards, checks, mobile Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, loyalty programs, and prepaid processing.

First Data has presented 4 major issues PayLucky is intended to solve while utilizing First Data’s 40+ years of experience in payment processing:

- Providing players with instant funding access: removing typical waiting times for payment verification, offering players the ability to paly immediately.

- Risk free payment acceptance: protecting operators with authorized and qualified players to decrease risk related issues.

- Offering players fast winning payouts: offering fast payout solutions with the use of open loop or closed loop prepaid cards, ACH deposits to checking accounts or paper checks

- Innovation: Providing new payment options for gambling deposits and VIP programs so qualified players can play at higher levels. Linking loyalty programs to payments through a secure mobile app or Ewallet solutions.

“First Data offers a consultative approach focused on helping our clients achieve success in their various market segments with our comprehensive payments solutions coupled with a broad knowledge base and experience with regulations governing this industry,” Jonathon O’Connor added.

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