EML Payments USA LLC, has entered into an exclusive multi-year agreement with PointsBet USA Inc for the provision of a PointsBet branded reloadable card program in the state of New Jersey. Under the agreement, EML will give PointsBet players an easy to use reloadable card to both remit funds into their gaming account and support instant access to winnings. The initial program in New Jersey is expected to launch in H2 of FY2019 following regulatory approvals.
The two firms will also partner together throughout the US as PointsBet obtains licenses in states that elect to legalize and regulate sports betting.
Brandon Thompson, chief commercial officer at EML, commented: “Our success in delivering innovative payment solutions to sports betting providers in Australia and Europe positions EML to provide a consistent experience that is proven in other countries. EML is enthusiastic to partner with PointsBet to drive customer engagement in the USA given the long term growth opportunities that we expect will unfold in the coming years.”
“We are excited that PointsBet has elected to lead the USA market with a payments card that will launch in FY2019,” said Tom Cregan, EML’s managing director and Group CEO. We believe it brings unrivaled convenience to their customers and is a testament to the constant innovation taking place in this industry. We look forward to working closely with the PointsBet team, who are all proven leaders within the betting industry.”
PointsBet Group CEO Sam Swanell added: “Our payments card partnership with EML will deliver tangible benefits for PointsBet clients. It delivers a reliable deposit method in a market where gambling deposits have been a challenge and allows customers to access and use their winnings immediately.”
EML said it was unable to accurately estimate future gross debit volume (GDV) that will be derived from this program, nor the pace at which this market will develop, given it is the first of its type in the USA for EML, in a state in which sports betting has only recently been legalized. It expects, though, that the GDV to revenue conversion rate will be materially in line with its average for the general purpose reloadable segment with the first material earnings contributions delivered in the FY20 year.