Online operator 1xBet is set to expand its transaction and market agreement with Processing.com.
The payment processing firm first agreed a deal with 1xBet in early 2017, managing payment processes for the company’s 1,000 daily betting events.
“We have seen our business grow substantially on a global scale,” said 1xBet CEO Ilias Agathokleous.
“Processing.com’s ability to process payments worldwide through a single integration with access to its portfolio of acquirers, along with convergent acquiring to optimise approval ratios, has enabled us to increase revenue due to high approval and conversion rates.”
Sports, live betting and casino provider 1xBet, with has grown to serve over 400,000 registered users since its inception in 2007, initially partnered with Processing.com in anticipation of high betting volumes during this year’s Fifa World Cup.
Following a rise in debit and credit transactions during the period, 1xBet will now extend the reach of Processing.com’s remit, including global merchant payment processing to support international expansion.
“We are proud of the innovation we have been able to provide to 1xBet,” said Processing.com CRO James Bergman.
“It’s the intention to further expand and service their specific needs over the coming years as the relationship grows further.”