EPG financial services, a subsidiary of the Gauselmann Group and a financial payment service provider, has introduced its new payment application, Paylado.
The app's purpose is to allow customers to perform real-time cash top-ups and withdrawals using their smartphones at numerous retail and casino locations.
Paylado has adhered to financial regulations set by FIAU, EBA, GGL and MFSA.
The service expands to petrol stations, supermarket brands and selected Gauselmann-operated entertainment venues.
The technology behind the Paylado cash loading service is powered by Funanga, a European payments business known for its security features and network of point-of-sale payment partners.
The Paylado app uses a closed-loop system where customers generate a unique barcode within their digital wallet app, which is then scanned at the point of sale, crediting their Paylado wallet.
Jens Bader, CEO of Funanga, stated: “The Paylado team was building an innovative payment solution for users and needed an out-of-the-box white-label product, that is reliable, established, and designed predominantly for iGaming. We knew that the service would need to meet customer expectations from day one, with no teething problems. It also needed to be easy to use and incredibly secure.”
Rupert Kainzbauer, CEO of Paylado/EPG financial services, expressed confidence in Funanga's track record in security, regulatory compliance and technical quality. He underlined that having a vast network of POS locations was crucial for providing immediate access to a multitude of payment options.
These developments build on the Gauselmann Group's previous initiatives in the gambling and entertainment industry. For example, its subsidiary Edict eGaming partnered with mybet, offering Merkur games via Edict's proprietary aggregator solution.
In March 2023, the Gauselmann Group appointed Stefan Bruns as a Management Board member, focusing on the sports betting and iGaming business arm. This move was part of the group's efforts to expand its international business sectors and improve its sports betting offerings.
Furthermore, Merkur, a European casino games developer and subsidiary of the Gauselmann Group, entered into an agreement with Gaming Arts to develop and supply casino games for North American casinos. Merkur aimed to make use of Gaming Arts' gaming jurisdictions to expand into the US markets.
