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Online-gambling consumers in Pennsylvania using Mohegan Digital iGaming services will be able to use PayNearMe Inc.’s deposit and payout services.
Announced Tuesday, the collaboration sees Santa Clara, Calif.-based PayNearMe’s MoneyLine as the exclusive payments platform for Mohegan Digital in that state.
Mohegan, the Uncasville, Conn.-based parent company of numerous casinos, launched last week a new online-gaming product in Pennsylvania that includes a Web site and mobile apps. It offers more than 500 games, such as slots, table games, blackjack, and baccarat. It expects to offer more than 700 games by summer.
PayNearMe says Mohegan will accept debit and credit deposits as well as funding via PayPal, Venmo, the automated clearing house, and cash at retail. Payouts can be made via push to debit, ACH, PayPal, and Venmo. MoneyLine also provides a dashboard to review data on deposits and payouts.
A core PayNearMe service, cash at retail enables consumers to pay for online transactions with cash at participating retailers. PayNearMe entered the iGaming market in 2013 and is active in 25 regulated U.S. gaming markets. Among its other clients are BetMGM, PointsBet, and FanDuel.
In other acquiring news, Xplor Technologies launched Xplor Capital, a capital-funding service for small businesses. Atlanta-based Xplor said merchants using one of four embedded payments services will be eligible for funding with underwriting based on sales volume instead of credit.
San Francisco-based Parafin Inc. will provide the capital and can make offers ranging from $500 to $10 million based on a fixed capital fee with no late fees or interest.
