MoneyMatrix enters partnership with UK-based payments gateway

Malta-based iGaming-orientated payments gateway has announced a partnership with UK-based leading open payments gateway Volt, to connect more merchants with Volt while expanding MoneyMatrix's coverage on emerging markets beyond iGaming.

The addition of Volt onto MoneyMatrix's portfolio is expected to be key to diversifying its instant banking solution with its connection to multiple banks, easy integration and smart routing.

Globally, merchants and PSPs are increasingly prioritising instant payments, according to Volt, and through this partnership, the Malta-based company will be able to get ahead of the curve in this space helping more merchants accelerate their growth.

Commenting on the news, Alin Bidescu, COO of MoneyMatrix stated: "When it comes to payment solutions, [the company] is continuously searching for the best technology.

"Volt is an important player in the open banking and payments world, the customer appetite for which is undeniable. By working together, we can offer clients new payment initiation service (PIS) solutions through a fast and secure user journey. We can't wait for what comes next."

On the part of the UK-based company, CCO Jordan Lawrence said: "We are delighted that MoneyMatrix has chosen Volt to power its instant payments offering. When using card payments, merchants incur high fees and have to wait days for settlement across multiple channels.

"Open banking is a much more cost-effective option that's processed instantly; it's also more secure than card transactions, as the threat of card fraud is eliminated. Speed and security are famously important in the online gaming industry – but also for countless more markets, which is why we're so excited about this partnership. Now, MoneyMatrix can bring the benefits of open banking to a wider range of customers".

In recent years Volt has been expanding in the iGaming industry.

In 2020, it signed a similar deal with Malta-based GiG by which it would provide its Open Banking payment integration solution to the company, allowing its B2B partners faster access to payment options across a variety of markets.

In June of this year, the company announced it had raised nearly €20 million to fund an expansion into new territories and build out its global instant payments footprint.