Enhancing Payment Experiences: PayNearMe's Mission Revealed
Date: 2023-11-16 Author: Dima Zakharov Categories: SPORTS BETTING, EVENTS
Identifying Payment Challenges:
PayNearMe, based in Santa Clara, collaborated with Betting Hero to conduct a survey of 231 bettors in Ohio, Massachusetts, Maryland, and Ohio. The results revealed that 22% of respondents encountered issues related to user interface or user experience, while 29% faced challenges with funding accounts or withdrawing money.
The Importance of Customer Retention:
The research highlighted the potential damage to customer retention, with 44% of respondents indicating a likelihood of deleting or abandoning an app experiencing glitches. PayNearMe aims to streamline transactions, ensuring a seamless experience comparable to online food ordering.
Communication and Troubleshooting:
Leighton Webb, PayNearMe's VP and General Manager of iGaming and Sports Betting, emphasized the need for effective communication to troubleshoot funding issues. He stressed the importance of redirecting users to alternative methods to enhance the overall user experience.
Impact on Customer Engagement:
The report emphasized that 23% of bettors unable to deposit funds did not return, resulting in a significant loss of customers. Webb estimated sports betting and iGaming deposit acceptance rates at around 90%, with most issues stemming from insufficient funds or velocity limits triggered by consecutive rapid deposits.
Tailored Solutions for MoneyLine:
The research data is expected to greatly benefit PayNearMe's MoneyLine platform, providing tailored end-to-end payment solutions. The focus is on balancing acceptance rates while mitigating fraud risks, emphasizing the crucial role of a seamless payment experience in enhancing user interaction with partnering operators.
