Optimal Payments selected by Ontario Lottery and Gaming for regulated online gaming payments
LONDON, MONTREAL and NEW YORK, April 22, 2014 /CNW Telbec/ - Optimal Payments Plc (AIM: OPAY), a leading global online payments provider, today announces that it has successfully reached a five-year agreement to provide its NETBANX® payment service to Ontario Lottery and Gaming (OLG) for its online gaming service PlayOLG.ca. NETBANX was selected as the winning solution after a comprehensive and competitive procurement process.
PlayOLG will offer regulated online interactive lottery, casino and video poker games to residents of Ontario. Through the five-year agreement, the NETBANX service will be embedded in the PlayOLG website to provide payment options, as well as delivering real-time fraud and risk prevention and mitigation services.
"PlayOLG will be the only regulated internet gaming option in Ontario. PlayOLG will return profits to the government of Ontario to help fund provincial priorities," said George Sweny, senior vice president, Charitable and iGaming, OLG. "Optimal Payments' NETBANX system will assist PlayOLG in offering an iGaming solution that is entertaining, exciting and focused on customer service, safety and security."
Through a single platform, Optimal Payments' suite of services for online operators includes: regulatory-compliant account funding and disbursements; risk and fraud management; and comprehensive data management and reporting.
Optimal Payments' services are already used by every major European regulated gaming operator. Over the last 18 months, the Company has expanded its sector reach in North America, and now provides services to a number of regulated online gaming operators including, the Quebec government's online gambling arm, Espacejeux; and Caesars Interactive Entertainment, owners of the World Series of Poker in the U.S. Optimal Payments also recently announced an agreement to offer payments and risk services to Bally Interactive and its clients in the U.S.
"We are the ideal service provider because we set the standard in providing a comprehensive iGaming solution that is designed for regulated markets," said Joel Leonoff, president and CEO, Optimal Payments. "This agreement is further concrete evidence of our capability to deliver on our strategy to extend our reach in the regulated North American online gaming market."
OLG is a provincial agency responsible for province-wide lottery games and gaming facilities. Since 1975, OLG has provided nearly $38 billion to the Province and the people of Ontario. OLG's annual payments to the Province have helped support health care; education, research, prevention and treatment of problem gambling; amateur sport through the QUEST FOR GOLD program; and local and provincial charities.
About Optimal Payments PLC
Optimal Payments is a global provider of online payment solutions, trusted by businesses and consumers in over 200 countries and territories to move and manage billions of dollars each year. Merchants use the NETBANX® platform and services to simplify how they accept credit and debit card, direct-from-bank, and alternative and local payments; and the NETELLER® service to increase revenues and capture new customers. Consumers use the multilingual and multicurrency NETELLER and Net+® Card stored-value offering to make secure and convenient payments. Optimal Payments Plc is quoted on the London Stock Exchange's AIM, with a ticker symbol of OPAY. Subsidiary company Optimal Payments Ltd is authorised and regulated as an e-money issuer by the UK's Financial Conduct Authority (FRN: 900015).
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