Georgia-based gaming fintech company Mazooma has forged a partnership with California-based fintech firm Plaid to deliver an igaming payments solution in the US.

Mazooma provides real-time, bank-verified payment processing to licenced online gaming, while Plaid is a financial data network that powers several digital apps and services.

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By partnering with Plaid, Mazooma brings an Instant Bank Transfer payment solution to igaming and sports betting operators in some regulated US states.

It is now available to Mazooma’s current operators such as BetMGM – for deposits and withdrawals – via existing integrations.

The solution is expected to be rolled out to all its clients, including Borgata and Party Poker, by the end of 2020.

Plaid head of partnerships Lowell Putnam said: “Partnering with Mazooma will help streamline account funding and reduce fraud for gaming companies and their players.

“Plaid’s consumer-permissioned data network will also support Mazooma’s merchant customers with state expansion initiatives as the industry continues to grow and can help support responsible gaming initiatives for consumers.”

The Instant Bank Transfer product leverages Plaid’s network of over 11,000 financial institutions in the US.

This coupled with Mazooma’s proprietary risk management is said to provide the fastest Automated Clearing House (ACH) payment method in the market.

Mazooma COO Dave Roe said: “Partnering with Plaid, Mazooma will maximise conversion for our merchant clients by making it even faster and easier for players to fund their accounts.

“Plaid’s optimised user interface and U.S. bank connections are an ideal complement to Mazooma’s ACH processing platform, risk management features and compliance protocols.”

In August 2020, e-commerce payments outfit Vesta also partnered with Plaid to introduce a payment solution for online ACH payments.