• PayPal Purchases Modest Mobile Payment Business

    27 August 2015

    Mobile payments

    The online gambling industry as a whole has been pushing very hard on the mobile front with games, platforms and software. However, one place where development has been lagging, comparatively speaking, is in payment processing. PayPal has recently purchased Modest, a start-up in the mobile payment processing sector, and it's an acquisition that could provide a model for making deposits and requesting withdrawals that the industry could leverage in a major way.

    What Modest Does

    Modest is a company that focuses on making payments in apps and other mobile platforms. The idea is that a merchant can place buttons for products inside of their apps with an easy to use interface. This is actually similar to what PayPal has going on with Pinterest right now and their Buyable Pins feature through PayPal's Braintree program. This idea of being able to make a payment inside of viewing content is what they're calling "contextual commerce," and it's something they're banking on to be the future of payment processing.

    Contextual Commerce and Online Gambling

    Online gambling sites already use the idea of contextual commerce to a degree. Whenever you're looking at a list of promotions, they'll normally have buttons beside of each that starts the process of redeeming them. However, this isn't tied to any particular payment solution, and you still have to go through the process of logging in, setting up your account details, setting up your payment details, etc. True contextual commerce would allow players to get in on the action in just a couple of clicks, and it's a major convenience that would be a win-win situation for both the players and the sites.

    Future Usage

    PayPal is accepted as a payment method at a number of online gambling sites, but it definitely doesn't have the market share of something like Skrill or Neteller in this particular industry. It will be interesting to see how this impacts their share in this particular market and if they're able to tag along with the rapid mobile expansion that we're seeing with online gambling right now. In either case, it provides another beacon for payment processors and software platforms to follow when it comes to giving players the best experience possible.


    Related News

    • 15 October 2019

      NetEnt Presents New Asia-themed Game Sweety Honey Fruity Featuring Tasty Treats and Juicy Extra Spins

      Game developer and casino vendor from Sweden, NetEnt is dipping into the Asian-themed well once again with their new game that’s all about juicy and sweet fruit. The game in question is Sweety Honey Fruity and it’s a medium volatility slot arcade with five reels and 15 paylines.

      Read full article
    • 13 August 2018

      Ethereum Integrated Into Bitcasino.io With Mobile Options

      Different cryptocurrencies have been used in online casinos for a couple of years now, and they're really seen as a viable option that could take over more and more of the market as time pushes forward. What we're seeing right now with Bitcasino.io just backs that idea up as they have added Ethereum to the overall banking method selection. On top of that, they've added a mobile cashier that has some innovative options. The Importance of Ethereum

      Read full article
    • 02 December 2017

      Yggdrasil's Empire Fortune Gives Up €1.12m Mobile Win

      Last weekend a 32-year-old player on the Betsson mobile site won €1.12 million on the progressive jackpot slot, Empire Fortune. The late Saturday evening win by the Norwegian was just another in a string of Yggdrasil jackpots lately including a €3.5m jackpot on Joker Millions last month and €5.2m in July on the game that was won late Saturday night. The two slots share a jackpot pool so the progressive rises quickly. The July win of €5.2m  set a record for the prize pool.

      Read full article