Safecharge hits jackpot with Sun Bingo

Safecharge hits jackpot with Sun Bingo

Wednesday, September 14, 2016 Posted by Andy McCarron
Payments provider will provide full cross-platform solution

Safecharge has announced a comprehensive deal the Sun newspaper’s gaming brands, SunBingo and Fabulous Bingo, to provide a seamless cross-platform deposit and withdrawal solution.

The deal came on the same day as Safecharge’s latest results which showed revenues rising 5% for the first six months of the year to $52.2m while consolidated adjusted EBITDA was up 10% to $16.8m.

The arrangement with the Sun’s brands will see Safecharge provide a unique platform-agnostic solution based on Safecharge’s personalised cashier. Alongside Safecharge’s card-acquiring facilities and proprietary fraud prevention platform, the personalised cahier maximises player conversions and ensures operational efficiency.

Safecharge will also be providing descoping of the Sun’s PCI DSS (Payment Card Industry Data Security Standards) liability. This relates to the need for all merchants to store the payment details of all customers securely. DE scoping means that merchants can securely migrate and store all credit card numbers in Safecharge’s own vault.

David Avgi, chief executive at SafeCharge, said the deal represented a prestigious new name on its roster of gaming clients. "Our collaboration with various gaming platforms enables SafeCharge to offer unique features and capabilities that serve to enhance players' deposit and withdrawal process," he added.

Other significant new customers for Safecharge during the past six months include deals with Paddy Power Betfair and SB Tech.

The company said its acquiring services operation was performing ahead of expectations since launch last September with more than 10% of group transactions processed through its own platform in June.

Processing volumes for the entire business hit $4bn compared with $3.3bn the year previously.

Totally Gaming says: The centrality of the payments infrastructure behind any online gambling operator cannot be overstated. Given the ever-increasing burdens of the compliance structures – particularly with regard to the new rules on AML – securing the best service possible that can cover all the compliance angles is vital. Safecharge is one of the leading names as far as the gambling sector is concerned, up with Paysafe and WorldPay as a leading service provider.

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