Latest News
Innovative Payment Solutions Announces IPSIPay Express, a New Business Line to Broaden IPSI’s Digital Payments Services Into the Fast-Growing Online Gaming and Entertainment Sectors
Innovative Payment Solutions, a fintech provider of robust and proprietary digital payment platforms that enable transfers of money by means of convenient, cost-effective, fast, and secure systems, announced that it has entered into a new line of business called IPSIPay Express, a three-way joint venture with payment industry veterans OpenPath and eFinityPay to develop and market a proprietary consumer to merchant real-time payment platform initially focused on the fast-growing online gaming and entertainment sectors.
IPSIPay Express will provide merchants with technology for payment processing that allows for seamless, secure, and instantaneous transactions, in real-time bank-to-bank account transfers (from customer bank account to merchant bank account) at costs lower than those currently available from credit or debit card processors. The proprietary technology incorporated into IPSIPay Express will also seek to end losses due to “friendly fraud” and substantially reduce consumer chargebacks, all of which are expected to provide significant value to merchants and operators in the online gaming and entertainment sectors.
Importantly, IPSI believes that the IPSIPay Express business should be ready for launch and could begin to generate revenue for IPSI during 2023. IPSI expects to use any revenue from IPSIPay Express to fund the continuing commercialization and development efforts for its flagship IPSIPay mobile app and working capital.
OpenPath, headquartered in Irvine, California provides payment solutions to companies processing large volumes of online payments. Scott C. Dorey, OpenPath’s CEO, stated: “We are very pleased to partner with IPSI and eFinityPay in this promising new venture. We believe the innovative payment technology that will be at the core of IPSIPay Express will be a game changer for merchants operating in so-called “high-risk” industries like online gaming and entertainment. The IPSIPay Express account-to-account solution is in high demand by those merchants as it dramatically reduces chargebacks, processing costs and funding time for merchants. We look forward to launching IPSIPay Express to merchants on the OpenPath platform.”
eFinityPay, founded by CEO Franklin Levy and based in Los Angeles, California, specializes in delivering stable merchant processing solutions to e-commerce merchants in the online casino, sportsbook, entertainment, and video gaming businesses.
As part of the joint venture, OpenPath will market IPSIPay Express to its existing and future merchant customers; eFinityPay will be responsible for developing and incorporating the online payment technology into IPSIPay Express as well as marketing to its substantial network or merchants in the targeted fields; and IPSI will be responsible for providing banking contacts to IPSIPay Express as well as potential access to new capital to support the IPSIPay Express business. IPSI is eligible to receive up to one-third interest in IPSIPay Express by contributing up to $1.5 million of capital to the joint venture by the end of this year.
William Corbett, IPSI’s Chairman and CEO, commented: “We are excited by the new opportunities IPSIPay Express will provide for us. We believe this joint venture has the potential to diversify our revenue channels and provide payment solutions to an online gaming and entertainment segment that is growing and generating tens of billions of dollars in revenue annually. The IPSIPay Express alternative payment platform, combined with OpenPath and eFinityPay’s considerable experience and relationships with the biggest merchants in the gaming and entertainment industries, should help drive growth at IPSIPay Express. In addition, IPSIPay Express will provide a simple, secure, and easy to use payment experience. We anticipate this will enable the Joint Venture to gain wide acceptance by online merchants and their customers. This new venture with experienced partners, will expedite our path to revenue, and allow us to drive the continuing launch and development of our flagship IPSIPay app.”
Gaming
10-15% Of Gamers In Florida Show Signs Of Gaming Addiction: Here Are 10 Signs Your Kid Is Suffering From It (And How You Can Help)
Recent studies indicate that 10-15% of young gamers in Florida exhibit signs of gaming addiction. These findings underscore the need for early identification of symptoms to prevent negative impacts on children’s mental and physical health. Gaming addiction, if not dealt with, can lead to poor academic performance, social withdrawal, and even health problems.
Marin Cristian-Ovidiu, CEO of FreezeNova, discusses key indicators of gaming addiction and offers practical advice for parents.
Recognizing Early Signs
“Early recognition of gaming addiction is crucial in preventing long-term negative outcomes,” Marin explains. The following signs can help parents identify if their child might be developing an addiction:
Exhaustion and Irritability
Constant tiredness and grumpiness during the day could indicate late-night gaming sessions interfering with sleep.
Gaming Obsession
If gaming dominates your child’s thoughts and conversations, and they plan their day around it while neglecting other responsibilities, it could be a sign of addiction.
Decline in Academic Performance and Lost Interests
A noticeable decline in academic performance or loss of interest in previously enjoyed activities may suggest your child is prioritizing gaming over more important tasks.
Emotional Volatility
Extreme emotional reactions to in-game outcomes, such as uncontrolled anger, known as ‘Gamer Rage’, or intense celebrations, could indicate an unhealthy attachment to gaming.
Physical Strain
Signs of repetitive strain injuries like ‘Gamer’s Thumb’ or ‘Nintendo Neck’ from prolonged screen time are warning signals.
Neglecting Basic Needs
If your child is neglecting basic needs like eating, sleeping, or hygiene to keep playing, gaming has likely taken an unhealthy control over their life.
Creating a Supportive Environment
While video games can be a great source of entertainment and connection, around 70% of people with signs of gaming addiction also experience social disorders. Marin recommends a few tips for building a supportive and open environment for your child.
Teamwork and Setting Boundaries
“Parents and children should work together to create a healthy gaming environment. Gaming addiction requires a holistic approach,” Marin advises. Start by setting clear boundaries on gaming time to ensure there’s room for schoolwork, chores, and quality family time.
Revisit activities your child once loved, like football practice or exploring new hobbies together. It’s vital for your child to take breaks from screens, so create a balanced daily routine that includes homework, chores, exercise and just some gaming time. This allows your child to enjoy their games without neglecting other aspects of their life.
Open Communication
Maintain open communication. Discuss the games your child enjoys and any concerns you might have. By understanding their world, you can work together to find solutions.
Remember, you’re not alone. If you feel overwhelmed, seek professional help from specialists in gaming addiction. Marin concludes, “By working as a team, setting clear boundaries, and fostering open communication, we can help your child develop a healthy relationship with gaming and thrive in all areas of life.”
Canada
Bally’s Interactive Launches the New Bally Bet Sportsbook & Casino App in Ontario
Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, has launched the all-new Bally Bet Sportsbook & Casino app in Ontario, Canada. This latest release marks another significant milestone for the company, following the recent app update in New Jersey and a series of successful app launches in the past year, including the introduction of Bally Bet Sportsbook across multiple states and Bally Casino in Rhode Island.
The updated Bally Bet Sportsbook & Casino app represents a major step forward, as it combines the functionalities of the existing Bally Casino app and Bally Bet Sportsbook app into one comprehensive platform. Powered by White Hat Gaming, this new app allows players residing in or traveling to Ontario to conveniently place wagers on both sports and casino games using a single app, account, and universal wallet.
“We are thrilled to introduce the new Bally Bet Sportsbook & Casino app, marking a significant milestone for Bally’s. This integrated platform merges the features of our previous apps, providing players in Ontario with a seamless experience for both sports and casino betting. Our commitment to enhancing the player experience remains at the forefront as we strive to personalize the enjoyment of playing Bally Bet,” said Robeson Reeves, CEO of Bally’s Corporation.
Latest News
PENN Entertainment Launches New Hollywood Casino App in Pennsylvania
PENN Entertainment Inc. has launched its stand-alone Hollywood Casino app in Pennsylvania. Built on PENN’s proprietary technology platform, Hollywood Casino offers more than 700 iCasino games, a variety of daily promotions, and exciting jackpots.
Available on Android, iOS and desktop, customers in the Keystone State can access Hollywood Casino through either the ESPN BET app or through the new Hollywood Casino app using their same ESPN BET login credentials, allowing for a seamless experience across PENN’s online betting and casino platforms. PENN plans to launch Hollywood Casino in additional jurisdictions in 2025, subject to regulatory approvals.
Hollywood Casino features a variety of online slots, table games and live dealer content, including bespoke live dealer tables and a dedicated “Casino Floor” lobby that allows users to easily find virtual versions of their favorite slot games from PENN’s retail properties. Hollywood Casino also features original titles from PENN Game Studios, PENN’s in-house casino game development studio that has produced a number of popular online games, including Legendary LarryTM and Wuji MinesTM.
“We’re excited to launch Hollywood Casino as a stand-alone app in Pennsylvania, giving our customers access to their favorite games in a dedicated, casino-first experience. With four Hollywood Casino properties in the state, the app leverages our trusted retail brand and creates a seamless connection between our online and retail gaming experiences. We look forward to bringing this enhanced Hollywood Casino experience to more iCasino markets in early 2025, pending regulatory approvals,” said Aaron LaBerge, Chief Technology Officer at PENN Entertainment.
Hollywood Casino is also fully integrated with PENN Play, the Company’s omnichannel loyalty program that allows members to earn and redeem rewards, including PENN Cash, exclusive tier benefits and personalized services.
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