Secure Trading, the online payments specialist, has announced its partnership with Berlin-based payment product developer, Funanga.
The partnership gives Secure Trading exclusive reselling rights to Funanga’s innovative new payment method, “Cash to Code”. Announced at ICE Totally Gaming Conference, this pre-paid cash payment method is a game-changer for gaming operators, opening up a market of customers who want to use cash to deposit into their gaming account, conveniently on the go, using their mobile.
Cash to Code allows players to deposit money without additional registration or sign-up, a credit card, or bank account – instead using cash at one of the thousands of retail locations (POS) across Europe. 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 in cash and instantly have their gaming account credited.
The Cash to Code solution will be available exclusively through Secure Trading. Cash to Code is a white-label product and, as such, gaming operators are able to brand the mobile app in any way they please – allowing them to make it consistent with their gaming brand and integrate campaigns and marketing content.
“We’re delighted to be part of this joint venture with Secure Trading, who are true payment veterans when it comes to the gaming space,” said Seth Iorio, CEO and Founder of Funanga. “Cash to Code helps gaming operators to offer their customers an instant, compliant and convenient way to pay with cash. Cash is the most universal payment method because it’s the simplest and most trusted – and our innovation simply brings it back into play in the digital world.”
As a single-redemption, closed loop payment method, Cash to Code operates differently to e-money products – giving operators the assurance that the solution is already aligned with pending changes in payment and anti-money laundering regulation. Because the transaction takes place at the till, the solution is naturally as safe from fraud as any other in-store purchase – with the additional protection of Know Your Customer (KYC) features in the app.
“Like all the best products, Cash to Code is ingenuous in its simplicity,” said Bryan Blake, Head of Gaming at Secure Trading. “The product combines everything you expect from a sophisticated payment app – slick, intuitive, content rich features – based on the most common payment method in the world. By making cash payment as instant as a digital transaction, operators are giving themselves an edge above the competition, unlocking the door to a previously unapproachable market.”