• 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

    • 01 May 2017

      Microgaming's Mega Moolah Breaks Mobile Jackpot Record

      The world record for the largest mobile jackpot has been broken once again, and Mega Moolah has come out on top. On April 25, 2017, a player at Tipico took down a win worth €8,012,153.35 on the game, beating the previous record that was established back in August. The record wasn't broken by much, but Microgaming was breaking their own record in the process. The Importance of This Win

      Read full article
    • 01 April 2017

      Springbok Casino Gets Three New Mobile Games

      A set of three mobile slots have been added to the lineup at Springbok Casino, and this gives players even more options than they already had available. They're all about adding more content every single month, and you can see that in a major way with this set of mobile options that are available now. The Three New Titles The first of the three new mobile additions is Hillbillies Cashola, a video slot that is centered around a bunch of mountain folks.

      Read full article
    • 20 February 2017

      New Bookee App Improves Mobile Sports Betting

      If you're a fan of sports betting, then chances are that you have at least looked into placing your bets through a mobile device. One of the problems you have probably ran into along those lines is that the user interfaces for mobile sports betting apps tend to be less than optimal. There's a new app that's looking to change that by putting the user interface first, which is something the mobile side of this particular sector of the gambling industry is sorely lacking. How Bookee Works

      Read full article