888. Com chooses MuchBetter electronic payments innovation

Financial services innovator, MIR Limited UK Limited, has announced the signing of a deal that has seen its MuchBetter electronic payments app selected by 888 Holdings for use on the online casino operator’s site at 888.com.

According to an official Monday press release published by European Gaming Media and Events, MIR stated that online casino, poker and sportsbetting aficionados at 888.com can now enjoy a smoother user experience, reduced transaction costs and increased mobile integration via the use of its MuchBetter innovation.

Jens Bader from the financial services brand declared that the MuchBetter innovation balances security with usability while featuring ‘many modern mobile features’ including biometric authentication. He detailed that the advance differs from more traditional electronic wallets by not charging users per transaction but instead utilizing a monthly net deposit model that takes into account the activities of each user.

“Large brands can’t afford not to pay attention to their payment partners,” read a statement from Bader. “The gaming industry can be a business of fine margins and high volumes, so paying over the odds for something as seemingly small as transaction fees can be incredibly damaging to any operator, even household names.”

Bader proclaimed that iGaming operators and electronic payments providers ‘need to be in close alignment’ and partner ‘on adequate commercial terms’ in order to support each other’s international expansion plans. He described payments strategy as ‘one of the most business-critical items’ in any such relationship as both parties advance through ‘regulatory landscapes with great overlap’ including licensing and anti-money laundering requirements.

“One can learn and benefit from the other’s expertise and both need to ensure in unison that the payments service provided helps [the] operator stay compliant with an eye to the future,” read the statement from Bader.