16-Oct-2023 Espelkamp/Frankfurt | Products
EPG Financial Services, a German-owned subsidiary of the Gauselmann Group and a financial payment service provider, has announced the launch of its innovative e-wallet app paylado. paylado customers can make real-time cash top-ups and withdrawals using just their smartphones, from thousands of retail and casino locations. paylado is a simple, fast, safe, and reliable application compliant with financial regulations FIAU, EBA, GGL and MFSA.
Locations will now include large petrol stations, supermarket brands, as well as selected Gauselmann-operated entertainment venues. The technology of the paylado cash loading service is powered by European payments business Funanga, which was chosen for its ease of use, best-in-class security features, and comprehensive network of Point-of-Sale payment partners.
To load the paylado app, customers simply generate a barcode within the digital wallet app, have it scanned at the point of sale, and the funds will be instantly credited to their paylado wallet. The barcode is unique to each customer and to paylado, cannot be transferred, and has no financial value until it is scanned. The closed-loop system is designed for security and simplicity for operators and customers alike, facilitating the demands of those customers who like to have the option to fund their Paylado wallet and entertainment activities with cash.
“We work with the biggest iGaming brands in the world, and the EPG Financial Services partnership is a perfect demonstration of why,” said Jens Bader, Funanga CEO. “The paylado team was building an innovative payment solution for users and needed an out-of-the-box white label product, that is reliable, established, and designed predominantly for iGaming. We knew that the service would need to meet customer expectations from day one, with no teething problems. It also needed to be easy to use and incredibly secure.”
“We chose Funanga for its robust track record on customer security, regulatory compliance, and technical quality,” said Rupert Kainzbauer, CEO of paylado/EPG Financial Services. “Gauselmann has built an unrivalled reputation in the casino and entertainment sectors. We expect our customers’ iGaming experience to meet the same high standards. Having a large ready-made network of POS locations was therefore essential because it would enable players to pay from tens of thousands of convenient locations immediately. The additional advantage with the Funanga platform is the embedded automated closed loop nature of the product”.
EPG is a payments services company and e-money institution as licensed by the Malta Financial Services Authority. The company operates across four offices, namely in Lübbecke, (Germany), Sliema (Malta), Sofia (Bulgaria) and Thessaloniki (Greece). The different offices are responsible for different business activities, but they all work together to achieve our joint vision, aims, and objectives.
EPG in turn forms part of the Gauselmann Group, which is a German gaming and gambling company founded by Paul Gauselmann. The Group held the first stakes in EPG in 2014 but then acquired the company in full in 2018. EPG supports the Gauselmann Group in payment transactions in gaming operations, but it also offers equivalent or tailor-made services and solutions to other providers in the gaming industry and beyond. EPG forms part of the Merkur Business Segment, or the Business-to-Business section of the Gauselmann Group as shown below.
EPG is the developer and owner of the paylado e-wallet solution, which is a mobile-first app that allows users to handle funds and issue payments digitally. The application has built-in compliance and onboarding functionality, which scales up depending on customer deposits.
You can find more information on the websites www.epg-financials.com.
Paylado is a product of EPG Financial Services Limited (having Company Registration Number: C68611 and Registered Office: The Plaza Commercial Centre, Level 4, Bisazza Street, Sliema, SLM 1640, Malta). EPG Financial Services Limited is authorized by the Malta Financial Services Authority (‘MFSA’) as a Financial Institution licensed to undertake payment services under the 2nd Schedule to the Financial Institutions Act (Payment Institutions) and to issue electronic money under the 3rd Schedule to the Financial Institutions Act (Electronic Money Institutions) (Chapter 376 of the Laws of Malta). The address of the MFSA is Malta Financial Services Authority, Triq l-Imdina, Zone 1, Central Business District, Birkirkara, CBD 1010, Malta.
Funanga AG is a European payments company specialising in prepaid payments technology. Via its CashtoCode platform, which launched in 2016, it connects a vast network of global online merchants from various industries and payment service providers with over 450,000 retail locations across Europe and international markets. The CashtoCode service enables customers to conveniently pay for their online purchases with cash at their chosen retail location. As such CashtoCode technically manages through its vast networks of partners the secure, convenient, and compliant collection and settlement of payments from customers across numerous markets globally.
You can find more information on the websites www.cashtocode.com or www.funanga.com.