The news: Sports betting and casino payments specialist Sightline Payments partnered with Visa to bring prepaid cards to Play+—its omnichannel payment solution that counts 1.5 million customers, per a press release.
Here’s how it works: Customers can use the Play+ Visa card throughout their entire casino and resort experience, including for gaming and entertainment, dining, and retail.
The prepaid cards can integrate with casinos’ loyalty programs so customers can earn rewards when they spend. They’re also compatible with mobile wallets and can also be used anywhere Visa is accepted.
Why it’s worth watching: The global casino and online gaming market is expected to reach $279.3 billion this year, according to IBISWorld. But cash—which is expensive and time-consuming to manage—still dominates the majority of in-person casino and gaming experiences.
Payment providers like Sightline Payments and Paysafe are tapping a greenfield opportunity by helping casinos digitize their payment processes.
The opportunity: The Sightline Payments–Visa partnership has two major benefits.
This article originally appeared in Insider Intelligence's Payments Innovation Briefing—a daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
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