Online payment processor Optimal Payments has agreed a deal to supply PlayOLG.ca, the online gaming arm of the Ontario Lottery and Gaming Corporation, with its NETBANX payment service.
NETBANX was selected as the winning payment solution following a competitive procurement process, with Optimal signing a five-year deal to supply the product.
OLG’s senior vice president of charitable and online gaming George Sweny explained that PlayOLG will return profits to the provincial government in order to fund charitable and social causes, with the offering the only regulated iGaming site in Ontario.
The partnership further strengthens Optimal’s presence in the North American online gaming market. The company is already active in the Canadian market through a partnership with Espacejeux, the online gaming arm of the government of Quebec, and recently launched its services for Caesars Interactive Entertainment in the New Jersey and Nevada markets.
It has also partnered the iGaming arm of Bally Technologies to offer payment and risk services to its US clients.
“We are the ideal service provider because we set the standard in providing a comprehensive iGaming solution that is designed for regulated markets,” Optimal president and chief executive Joel Leonoff commented. “This agreement is further concrete evidence of our capability to deliver on our strategy to extend our reach in the regulated North American online gaming market.”
The NETBANX straight-through payment (STP) solution saw strong growth in 2013, driven primarily by travel and online retail, with revenue up 39 per cent to $193m for the year.