EPG Financial Services chooses Volt to power its paylado e-wallet

Source: Goodkopp Communications

Volt, the global real-time payments platform, today announces its new strategic partnership with leading e-money institution and payment services provider EPG Financial Services. Volt will power real-time Open Banking payments for paylado, EPG’s e-wallet solution.

Built primarily for the German market, paylado allows users to top up their e-wallets manually using two methods: a network of cash deposit devices across Germany, or via bank transfer. Once their balance is updated, users are able to initiate deposits with paylado’s network of licensed, regulated iGaming merchants.

Because manual bank transfers can take up to five days to settle, and are prone to errors, EPG was seeking an Open Banking partner to provide a replacement in the form of real-time account-to-account payments.

Volt was selected owing to the resilience of its bank connectivity in Germany, its optimised top-up user experience, and its ability to initiate pay-outs from a paylado user’s e-wallet back to their bank account – which iGaming merchants view as essential functionality. Further, its coverage across Europe was seen by EPG as a means by which it can seamlessly reach new users in additional markets.

Commenting on the partnership, Rupert Kainzbauer, EPG Financial Services’ chief executive officer, said: “We chose Volt because of its multiple connections to bank APIs, in addition to its broad geographic coverage. We have absolute confidence that this will translate into a superior customer experience for paylado users, who can now make top-ups and initiate pay-outs much faster. We look forward to exploring further use cases with Volt as the transformative power of Open Banking becomes more apparent.”

Anna Gladka, Volt’s business development director and resident wealthtech expert, added: “We’re thrilled to go live with paylado. From the moment we began speaking with EPG Financial Services, it became clear how closely our product capabilities align with their needs – and, despite only recently going live, we’re already talking about further ways of working together. Above all, the partnership is further evidence of the strength of our network and the onward customer experience that it facilitates.”

Further reading: Payments orchestration platform chooses Volt for real-time payments