Payment technology firm Nuvei has linked-up with Wplay, as the Colombian online gaming operator plots a path for market expansion across Latin America.
Aiming to fuel further growth across the burgeoning region, Nuvei will provide the acquiring platform and technology to power Wplay’s payment operations
The agreement has seen Wplay integrate Nuvei’s Cashier, which provides access to more than 450 alternative payment methods, as well as allowing the group to offer those methods most popular with local players in a bid to drive player acquisition and retention.
The integration also allows Wplay to benefit from the company’s value-added services, including fraud prevention and risk management solutions, through a single connection.
“Nuvei’s Cashier has proven to convert more, increase acceptance rates, while streamlining deposits and payouts. By accepting local debit and credit cards, plus local alternative payment options, Wplay can provide its users simple access to their preferred payment method,” said Yuval Ziv, Nuvei’s managing director of digital payments.
“Further, our integrated risk management solutions and embedded eKYC features for quick player onboarding allow Wplay to maximise revenue while minimising potential fraud.”
Operators in Latin America are said to be seeing rapid growth in volumes, with some commentators suggesting that the region could be a more lucrative opportunity than the one created by the legalisation of sports betting in many US states. A KPMG report estimated that the segment is already worth over US $2.1bn.
“This agreement with Nuvei will help us maintain the security and ease-of-use of our platform as we scale, upholding the level of service that our customers have come to expect,” added Julio César Tamayo, president of Wplay.
“Now that we’re working with a globally-recognized payment partner that can also tailor its service to the needs of our local marketplace, we feel more confident than ever about the future.”
Founded in 2017, Wplay was the first company to receive a license from Colombia’s gaming regulator Coljuegos, and today it boasts more than 1,600,000 users in that country, as well as 7,000 points of sale throughout Colombia, and sponsorship deals with eight Liga Águila football clubs and the national Olympic team.