PayPal is one of the world’s most popular payment solutions for various industries, including the online gambling industry. iGaming clients in 14 European countries can now access the payment platform for deposits and withdrawals. This is possible due to a recent partnership between PayPal and MoneyMatrix, a global payment processing gateway by EveryMatrix.
The monetary exchange has been at the heart of all gambling activities for centuries now. Since many of these gambling activities today are done on the internet, secure and efficient payment solutions must be used. PayPal is already an established payment method used by online gamblers over the world for deposits and withdrawals.
For instance, there are a large number of safe PayPal casinos across the world. Also, the platform’s services are utilized by several online sportsbooks and poker rooms, simplifying the financial aspects of gambling. According to Samoil Dolejan, the CEO of MoneyMatrix, ‘PayPal is one of the most popular payment methods globally, so naturally, we are glad to make their solution available to our iGaming clients.’
Who is MoneyMatrix?
MoneyMatrix is an EU-licensed financial institution by EveryMatrix, based in St Julians, Malta. They specialize in helping merchants connect to local and international payment solutions, who are their trusted partners.
They also optimize these merchants’ payment processes by securing transactional data and providing KYC solutions, all through one integration. The platform’s partnership with PayPal is expected to further promote their mutual aim of simplifying payment solutions for gamblers across the world, including Europe.
PayPal Holdings Inc, an American company with headquarters in California, has been in operation for over two decades, serving as a payment processor to customers in almost every country of the world. They have successfully made several financial processes simpler for numerous industries, resulting from affordable and user-oriented activities.
The e-wallet platform, PayPal, allows users to send, store, and receive money from a wide range of platforms globally. Gambling sites users can make deposits and make withdrawals at a faster processing time and less risk of security compromise. Samoil Dolejan was recently appointed the CEO of MoneyMatrix, after spending four years working for EveryMatrix, their parent company.
He admitted that his years of experience taught him that both players and merchants are looking for the simplest payment methods. Thus, from the onset, he set out to increase the number of local and international payment options for MoneyMatrix. One of the results of this goal is what we now see in the platform’s collaboration with PayPal, whose most prominent feature is convenience and simplicity.
Which Countries Will Benefit?
“Players in 14 EU countries and the UK will now be able to select PayPal as their preferred payment method, which is highly convenient and an added benefit for operators using MoneyMatrix. There is no gambling without payments, and we are dedicated to helping our clients run their operations smoothly and effectively while giving them access to a vast portfolio of global and local payment methods,” Samoil also said.
The European countries where iGaming Clients can now add PayPal to their list of preferred payment methods for gamblers are Austria, Greece, Belgium, Sweden, Germany, Italy, Romania, Spain, Portugal, Denmark, Finland, France, Ireland, Poland, Spain, and the United Kingdom.
Sources:
- https://paymentexpert.com/2021/01/20/moneymatrix-expands-international-igaming-operations-with-paypal-deal/
- https://www.gamblinginsider.com/press/10875/moneymatrix-makes-paypal-available-for-igaming-clients-in-15-countries
- https://www.casinobeats.com/2021/01/20/moneymatrix-offering-paypal-to-igaming-clients-across-15-countries/
