Instant cash payment service CashtoCode has announced that it’s now available across several new European markets, following a successful period within both Austria and Germany.
Launching in the regions two years ago, CashtoCode partnered with large retail and convenience chains, allowing customers to make C2C payments across many locations such as newsagents, grocery stores, gas stations, retail shops and drug store chains.
This is a similar approach to what expansion is to entail, encompassing new markets such as the UK, Greece and Italy, with the company stressing that “cash remains among the most popular methods of payment” across the continent.
Enabling players to deposit money directly into their igaming accounts, minus additional online registration or sign-up processes, players are expected to be able to utilise in excess of 60,000 European retail locations.
Making physical cash deposits at a point of sale location, withdrawing the need for credit cards, players select a deposit amount within the app and a barcode is generated that can be presented at their chosen point-of-sale, allowing them to pay instantly and have their gaming account credited.
C2C states that it “is the only mobile cash option that meets the strict anti-money laundering regulations (AML 4 and AML 5) required by major igaming operators”.
Seth Iorio, chief executive officer at CashtoCode, explained: “Cash remains a hugely popular payment method in Europe and will always have a seat at the table. igaming operators that ignore cash are missing out on a huge market opportunity, which is only set to grow in the years ahead.
“CashtoCode is perfect for any igaming operator that wants to introduce a smart, closed-loop cash deposit alternative. The fact that CashtoCode is not transferable between people like any other cash voucher out there, also adds an important layer of integrity to the transaction.
“We were able to team up with several Tier-1 gaming operators last year, but we also saw an impressive uptake in the online entertainment and retail sectors.
“I’m confident that this trend can continue and that we’ll be able to announce even more additional geographies later in Q2 and Q3 2019. It promises to be an exciting year for cash in igaming.”