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Rewire partners with Paysafe to drive financial inclusion for migrants through cash management
Leveraging Paysafe’s eCash solution Paysafecash, Rewire is set to provide financial services to cash-reliant migrant communities across 17 European countries
Rewire, a cross-border financial services platform tailored to the unique needs of migrant workers from developing countries in Asia and Africa, has partnered with leading specialised payments platform, Paysafe to enable access to financial services for cash-reliant consumers across the UK and Europe.
Rewire promotes financial inclusion by providing access to the financial services migrants need in their country of origin and in their new home such as remittance services, local payment accounts (IBAN), debit cards, cross-border family accounts, insurances, bill payments and more. The integration of Paysafe’s eCash solution, Paysafecash, enables Rewire customers to deposit cash into their online accounts, which can in turn be used to fund their financial activities. The service is now available in the UK and will soon be rolled out across another 16 European countries*.
Global migration trends indicate that the migrant population is growing at a faster pace than the general population, meaning that each year, the number of people who migrate is higher than the number of births1. As the world population shuffles and people from developing countries manage to work hard in wealthier countries in order to gain financial security for themselves and their families, industry figures still indicate that approximately two billion people worldwide remain unbanked and cannot access traditional financial services2. This is exactly where the joint vision of Rewire and Paysafe, to include migrants in the financial systems, comes in.
There are more than 200,000 Paysafecash payment locations across nearly 30 countries worldwide, and close to 90,000 payment locations in the 17 European countries where the Paysafecash deposit option will be available for Rewire customers. To deposit cash into their accounts, Rewire customers simply select Paysafecash as the top-up method online or via their mobile app and choose the exact amount to be deposited. This generates a unique barcode for the transaction, which is then scanned at the point-of-sale terminal at a nearby Paysafecash payment location. They can make the payment in cash to complete the transaction and the amount immediately gets credited to their Rewire accounts.
Guy Kashtan, Co-Founder and CEO at Rewire, commented, “Partnering with Paysafe to incorporate Paysafecash as part of Rewire’s solution makes perfect sense as our customers are generally an underbanked population that need to digitise their cash in order to manage it on Rewire’s platform. Paysafecash allows our customers to fund their accounts using cash, which is an essential aspect in extending the reach of our services and making them more accessible for these financially underserved communities. Paysafecash’s extensive global network of payment locations makes it the ideal partner for us to support financial inclusion of migrant workers with easily accessible online services and fair fees, particularly for their cross-border needs.”
Udo Müller, CEO of Paysafe’s eCash division, added: “We are extremely pleased that our partnership with Rewire allows us to leverage the unique advantages of our Paysafecash payment solution to support migrant communities in Europe and make much needed financial services more accessible. When you complement our extensive network of payment locations with strong partners that provide essential services, you end up with a really impactful solution that answers the pain points of a significant portion of society.”
The Pennsylvania Gaming Control Board (“PGCB”) has released the 18th edition of its Annual Report.
The PGCB’s 2023-2024 Annual Report provides detail on the work of the agency in regulating the Commonwealth’s gaming industry, and also includes:
- individual revenue figures during another record-setting fiscal year for slot machines, table games, sports wagering, internet gaming, fantasy sports contests and video gaming terminals at eligible truck stops;
- a year in review report with pertinent statistical figures from the PGCB’s key bureaus;
- information on the PGCB’s efforts to stop adults from gambling while leaving minors unattended; and,
- a section on problem gambling and the PGCB’s Self-Exclusion Program.
The PGCB was established in 2004 through the passage of the Pennsylvania Race Horse Development and Gaming Act. Since then, it has become one of the pre-eminent gaming regulators in the world overseeing all aspects of gambling in the Commonwealth. Currently, the number of outlets for the various types of gaming regulated by the PGCB are:
- 17 land-based casinos;
- 18 retail sports wagering locations;
- 12 online sports wagering sites;
- 22 sites for online casino-type games (slot machines, table games, poker);
- 74 truck stop establishments with Video Gaming Terminals (VGTs); and,
- 9 online fantasy sports contest sites.
In addition to supporting nearly 16,000 jobs at casinos, overall gaming revenue reached a record high during the fiscal year generating $5.89 billion and resulting in $2.54 billion in tax revenue.
The 2023-2024 Annual Report can be downloaded as a PDF document by choosing Organization Reports under the About PGCB tab on the agency’s website.
Allwyn, a leading multi-national lottery operator headquartered in Switzerland, announced that the Allwyn entity Allwyn International a.s. (“AIAS”) has relocated from the Czech Republic to Switzerland. Effective 1 October 2024, AIAS has become a Swiss entity (under the new legal name Allwyn International AG) and has transferred its place of business to Switzerland.
As of the date of relocation, the €500 million 3.875% senior secured notes due 2027 (the “2027 Notes”) originally issued by AIAS have been transferred to Allwyn Entertainment Financing (UK) Plc, as substituting issuer. Allwyn Entertainment Financing (UK) plc is the issuer and borrower of certain other Allwyn bonds and loans. AIAS has become a guarantor of the 2027 Notes, which continue to be guaranteed and collateralised pari passu with other indebtedness under Allwyn’s intercreditor agreement dated 16 December 2020.
The relocation has no effect on Allwyn’s workforce or lotteries and gaming operations in the Czech Republic.
The post Allwyn International a.s. relocates to Switzerland appeared first on European Gaming Industry News.
Oddin.gg is proud to announce that it has secured a full 3-year sports betting license in Ohio, further strengthening its standing as the esports betting solutions provider with the most licenses in North America. With this latest addition, Oddin.gg now holds four US licenses—New Jersey, Colorado, West Virginia, and Ohio—and a total of five across North America, including Ontario, Canada.
The Ohio license is a strategic milestone, as the state is set to become one of the most active betting markets in the American Midwest. According to projections from the Ohio Legislative Service Commission, the state’s sports gaming market is expected to reach approximately $3.35 billion annually as it matures. By securing this license, Oddin.gg is well-positioned to support operators in tapping into this significant potential.
Obtaining the Ohio license also demonstrates Oddin.gg’s ability to meet the state’s comprehensive regulatory standards, which include arduous assessments of financial stability, operational integrity, and adherence to state laws. This achievement reinforces Oddin.gg’s reputation for compliance and reliability, enhancing its capability to deliver full-service esports betting solutions tailored to a growing market.
Ohio’s sports betting legislation imposes a 10% tax on sports gaming receipts, contributing to public education and initiatives supporting veterans in the state. Oddin.gg’s entry into this regulated environment reinforces its role as a leader in shaping the future of esports betting in the US while offering operators a pathway to engage with a new generation of bettors in a secure and exciting way.
Vlastimil Venclík, CEO of Oddin.gg, shared his enthusiasm about the news: “Securing a license from the Ohio Casino Control Commission is a significant step in our North American journey. Ohio is poised to become one of the most dynamic betting markets in the US, and gaining this
approval aer meeting the state’s rigorous standards is a true reflection of our commitment to integrity and excellence both in Ohio and beyond. However, this license isn’t just about expanding our reach; it’s about ensuring our partners have access to market-leading esports betting solutions that fully align with all local regulatory requirements.”
He continued, “Ohio’s market is gearing up to be something special, and we’re excited to help operators tap into that potential. As esports betting continues to evolve, Oddin.gg is ready to provide the expertise, technology, and support to make sure our partners succeed.
Pennsylvania Gaming Control Board Releases Annual Report
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