Nuvei has announced a partnership with Gaming Innovation Group (GiG), a prominent B2B technology supplier for the online gaming industry. This collaboration, revealed in a press release on January 7, 2023, is specifically aimed at allowing gaming operators to enhance their payment functionalities through integration with GiG’s CoreX player account management platform.
According to the press release, the integration will enable iGaming operators to benefit from Nuvei’s extensive payment expertise, thus optimising their operations across global iGaming markets to increase revenues and accelerate growth. The collaboration opens doors for operators to access over 200 countries and connect with 720 alternative payment methods.
Philip Fayer, CEO and Chair of Nuvei, remarked on the significance of this partnership, stating, “Through this direct integration with the GiG CoreX platform, iGaming operators can leverage Nuvei’s payments expertise across global iGaming markets to maximize their revenues and accelerate their growth.”
The surge in demand for digital instant payment methods among gamers was highlighted in the recent PYMNTS Intelligence report titled “Generation Instant: Gamers and Winnings.” The report indicated that 76% of gamers who currently lack access to instant payouts expressed interest in utilising such services if they were available. This trend has prompted several operators, including Caesars Sportsbook, to introduce push-to-card instant payout options in their applications.
In discussions with PYMNTS last month, Nuvei’s Vice President Pattie Mercier elaborated on the increasing importance of alternative payment methods (APMs). She mentioned that mobile revenue is projected to constitute over half of total sales, especially during peak shopping seasons, underscoring the growing prevalence of digital wallets, buy now, pay later (BNPL) services, and mobile-native payment solutions. Mercier noted that approximately 57% of consumers are now engaging in global shopping, further highlighting shifts in consumer behaviour.
Three key factors driving the rising adoption of APMs were identified by Mercier: an increasing consumer demand for convenience and speed, the shift towards mobile- and digital-first platforms, and the expansion of global commerce. She emphasized the necessity for businesses to grasp their customer bases effectively to capitalise on these burgeoning payment modalities.
“The right APM selection depends on demographics, income levels, and the nature of the product or service,” said Mercier. She concluded by stating, “It’s really about knowing your customer and offering the right APM at the right time to the right customer.”
As businesses in the gaming sector and beyond explore the integration of APMs, they must focus on understanding the evolving preferences of their consumers, ensuring they can remain competitive in a rapidly changing payments landscape.
Source: Noah Wire Services