EPG partners with Volt for instant wallet transactions

EPG Financial Services has teamed up with Volt to power real-time payments for its e-wallet, paylado. The partnership aims to enhance user experience.

Press release.-EPG Financial Services, part of Merkur Group, announced a strategic partnership with Volt, the global real-time payments platform. Through this collaboration, Volt will enable 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 from either 33,000 cash deposit devices across Germany or via a manual bank transfer. Once their balance is updated, users are able to initiate deposits with paylado’s network of licensed, regulating 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 account-to-account payments that settle in real-time. Because these are automated, transactions are always pre-populated and ready to approve within a user’s banking app.

Volt was selected owing to the resilience of its bank connectivity in Germany, its optimised top-up user experience, and its ability to initiate payouts 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 could seamlessly reach new users in additional markets.

Commenting on the partnership, Rupert Kainzbauer, EPG Financial’s CEO, 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 payouts 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.”