US bettors have a myriad of payment options at their fingertips when placing a wager online, but cards hold the pole position in US igaming payments according to Trent Striplin of Caesars Sportsbook.
Due to speak at the SBC Summit North America next month, Striplin – Caesars Sportsbook’s VP of Payments and Fraud – has given Payment Expert a breakdown of the payments dynamics of the vast US online betting and gaming sector.
Payment Expert: Firstly Trent, what has been the early impact of the FedNow payment rail and is the US online gaming/betting sector benefiting from it?
Trent Striplin: While we have not yet seen an impact from FedNow in the US as it is still being rolled out by payment providers, we have been live with RTP for some time now. This has been a massive win in bringing the US banking system up to speed with the 21st century.
I am most looking forward to FedNow providing the same instant payments that we see with withdrawals but for deposits as well, an area that is lacking from The Clearing House and lack of their RFP product. Additionally, FedNow brings another set of rails for redundancy and additional bank coverage.