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January 2012

Paddy Power And Realax In Payment Processing Deal

by Renee Israel

Paddy Power and Realax Payments in New Deal

English online payment processor Realax Payments has signed a deal with Irish bookmaker Paddy Power to become the large sporting betting firm's new payment solutions provider.

Paddy Power, the sixth biggest online gambling business in the British isles and operator of 365 retail betting outlets, will use Realax Payments for a wide range of payment solutions across various channels, currencies, regions and card types. Realax Payments will also be providing a card tokenisation solution.

Realax Payments is a London-based company and will be partnering with Paddy Power to provide its clients with complete payment solutions.

Realax Payments stated that the agreement will include the supply of distinct and unique accounts for each acquirer, channel and payment type. There will be an option of twelve channels of payment and the transactions will be able to be conducted in both Euro and Sterling.

Paddy Power Happy with New Payment Processor

Michael Nolan, Paddy Power's manager for payments and operational development said that a key requirement for the company was to ensure a smooth transition for the clients and maximum customer acceptance. He stressed that a non-disruptive player experience was paramount.

"With Realex Payments as part of our card payment architecture we met this requirement via its RealResult service providing issuer response codes for declined transactions through supported acquirers, allowing us to react to and appropriately address declines in real-time." Nolan continued.

Realax Payments is certainly not new to the online gambling payment processing and declares that the company processes payments to the value of over one billion pounds each year for gaming client alone.

It already has several online gaming sites as its clients and new addition to their gaming portfolio are 188Bet and Betsafe.

Andrew Yoakley who is the head of business development for Realax Payments in the UK and Ireland, said that "Paddy Power processes high volumes of transactions through multiple channels to numerous acquirers so our solution needed to support a complex configuration in a transparent and easily manageable way."

Yoakley added that Realax Payments supports the service on an ongoing basis by constantly analysing the results on top BINs and in key localities in order to provide customised trend reports each month. The aim of these reports is to support increase customer acceptance in all of its channels.

Story Highlights »
  • Realax Payments will provide Paddy Power with a full range of payment solutions.
  • The payment solutions will ensure smooth transactions for Paddy Power clients.

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