Real-time payments platform Volt has partnered with EPG Financial Services, an e-money institution and payment services provider, to power paylado, EPG’s ewallet.
Designed for the German market, paylado enables users to top up their ewallets manually using either a network of cash deposit services across the country, or via bank transfer. When the balance is updated, users will be able to initiate a deposit using paylado’s network of licensed iGaming merchants.
Powering paylado through Open Banking
EPG is a payment services company and electronic money institution licensed by the Malta Financial Services Authority. The company mainly operates in Malta and Germany, offering a mobile-first app that allows users to handle funds and issue payments digitally, paylado.
EPG chose Volt as an Open Banking partner to offer a faster and more efficient alternative to manual bank transfers in the form of real-time A2A payments. As the process is automated, transactions are always pre-populated and ready to approve within a user’s banking app.
The company chose Volt for its banking connectivity in Germany, optimised user experience, and ability to initiate payouts from a paylado user’s ewallet back to their account. This is what iGaming merchants are seeking in terms of functionality. Additionally, Volt operates across Europe, which enables EPG to reach new customers in additional markets.
EPG’s representatives mention that Volt’s multiple connections to bank APIs and its geographic coverage translate into a better customer experience for paylado users, who can now add funds and initiate payouts faster and more conveniently. The company will experiment with and explore more use cases for Volt as an Open Banking tool.
The real-time payments platform believes that its product capabilities align with EPG Financial Services’ needs. Even though the partnership went live only recently, the two companies have already discussed further ways to collaborate in the future. Volt’s partnership with EPG reflects the efficiency of its network and the improved customer experience that it offers.
