New alternative deposit option for Australian based licenced wagering, skill game and lottery operators
CashtoCode, the instant deposit service for online betting, skill, and lottery operators, today announced its expansion into Australia via a partnership with epay Australia. The service is now live across more than 2,000 retail locations including petrol stations, newsagents, and small independent stores, with plans to increase that number to 11,000 later this year.
CashtoCode enables Australian users to top up a variety of online wallets accounts via cash or deposits made in store, and it is aiming its service at online betting brands that have gained an Australian license for online sports betting and skill games.
There are more than 25 licensed online wagering, lottery, and skill-based businesses in Australia. CashtoCode hopes that these kinds of brands will be looking to add cash deposits to their payment portfolios, to offer their customers more variety, and appeal to those that prefer cash payments for privacy, security, and self-control reasons.
For Australian operators, a top priority when considering new deposit options is increasing distribution. epay is the largest private network of prepaid terminals in Australia and enables a range of retail venues in the country to offer mobile top ups, payment services and bill payments such as prepaid utility. epay locations nationwide include BP, Shell, Coles, Woolworths, IGA, WHSmiths and a number of small convenience stores.
This is the first time that CashtoCode has been made available in Australia, and it follows multiple successful expansion efforts in 2021, including other countries in Asia Pacific, some Africa nations, and markets across Latin America.
CashtoCode is a closed-loop cash deposit option that is low-risk for operators, since its vouchers cannot be transferred between users. They can only be redeemed by the account holder/customer, thereby eliminating the risk of fraud, money laundering or chargebacks – all three being common concerns in the online betting and wagering industry.
“Australia offers a fantastic business opportunity for online wagering and betting brands,” said CashtoCode CEO and co-founder, Jens Bader. “It is a thriving market and one we’re keen to play a part in. We’ve seen in Europe and our other international markets that cash can be a great payment option for customers that are keen to control their payment speed, or simply prefer it for privacy reasons. We expect to see the same situation in Australia, and believe that many Australian operators are looking to diversify their payment options for players.”