MuchBetter Breaks iGaming Cash Monopoly

It has been one year since MuchBetter payment app appeared. After ground-breaking figures and success, the provider made a decision to crack the monopoly of gambling payments. It emerged in November 2017 and marked some tremendous results:

• App is available in 150+ countries with both Android and iOS version
• 120 commercial sites take advantage of MuchBetter method including leaders as 888.com, Pinnacle, LeoVegas and Betway
• One transaction per five seconds and over 7,3 million per year
• 50,000 devices produced comprising MasterCards, NFC payment, smart watches, smart coffee cups and bottles
• 40 employees
• Various awards for being a contributor to the payment industry

The company’s co-founder, Jens Bader, commented:

“MuchBetter is coming to break the iGaming payments monopoly and weˈll make no apologies for that. For too long, legacy payments providers have raised costs with each renewal, without a thought to raising the quality of their services. With iGaming operators seeking alternatives there is a fantastic opportunity for MuchBetter to swoop in and meet the needs of iGaming operators.”

Bader continued:

“And, our customers, use their MuchBetter accounts increasingly outside of iGaming as well. The combination of the app with our free prepaid card, wearables and free peer-to-peer service demonstrates that our product proposition covers almost any payment situation and is well understood by our customers. I think we had a sensitive and balanced approach with an enticing B2C proposition, riding on a B2B commercial model. Letˈs face it, we have driven a new, global payment service into the market in less than 14 months, without any reliance on external investment. I like to think that we have a very solid commercial model that is also viable for us in the long term, and better for operators in the short term too.”

Core Components

• Accessibility on iOS and Android
• Biometric authentication for payment transactions
• Customers can pay contacts via phone numbers
• Possibility to freeze MuchBetter card in case of loss/theft
• Unique and variable CVV number works as protection from criminals and informational frauds

How it Works in Reality

The classic gaming payment method comes with enormous charges. For example, if you make two removals from the wallet in the amount of £10,000 and £8,000, you pay charges for the complete amount. On the other hand, making the same payments with this method would result in charging only £2000 amount.

Backstory

The company is well-known as an iGaming payment app and e-money issuer. The platform is owned by MIR Limited UK Ltd. and holds an FCA-license. Now you can use the app to make online and contactless transactions. Funds are processed in real time which protects users and increases revenues of the provider.

For more info, check out our exclusive interview.

Source:

“MuchBetter Takes Aim at the Multi-billion-pound iGaming Payments Monopoly", Mike Marquiss, prnewswire.com, January 31, 2019.