As the Colombian online gaming operator plots a path for market expansion across Latin America, payment technology firm Nuvei has linked up with Wplay.
Nuvei will provide the acquisition platform and technology to power Wplay’s payment activities in order to fuel further growth across the burgeoning region.
The agreement has seen Wplay incorporate Nuvei’s Cashier, which provides access to more than 450 alternative methods of payment, as well as enabling the group to offer the most popular methods to local players in an effort to drive the acquisition and retention of players.
The integration also enables Wplay to benefit through a single link from the value-added services of the company, including fraud prevention and risk management solutions.
Yuval Ziv, Nuvei’s managing director of digital payments said: “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.
“Further, our integrated risk management solutions and embedded eKYC features for quick player onboarding allow Wplay to maximise revenue while minimising potential fraud.”
In Latin America, operators are said to see rapid volume growth, with some analysts suggesting that the area may be a more lucrative opportunity than that generated in many US states by the legalisation of sports betting. A KPMG report estimated that the segment is worth over US $2.1 billion already.
Julio César Tamayo, president of Wplay added: “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.
“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.”
Established in 2017, Wplay was the first company to obtain a licence from Colombia’s Coljuegos gaming regulator, and now has more than 1,600,000 users in that region, as well as 7,000 sales points across Colombia, and eight Liga Águila football clubs and the national Olympic team are sponsored.
#PressRelease: Nuvei announces deal with Wplay (https://t.co/wOrvlxpmDA) to provide the acquiring platform & tech to power Wplay’s Colombian payment operations in Latin America. Click below for details.https://t.co/knNYH1HbQm#NuveiNews #FintechNews
— Nuvei (@NuveiTech) December 2, 2020