Paramount Commerce, a global bank-account-based payments provider, announced at the Canadian Gaming Summit and SiGMA Americas that it has launched its Instant Bank Transfer payment solution in Canada for iGaming and sports betting operators.

The product, proven in the North American online gaming and sports betting markets, delivers industry-leading conversion, ubiquitous bank coverage, and state-of-the-art risk management.

Instant Bank Transfer was built for gaming with innovative features such as 1-click express deposits and in-game deposits. These features allow consumers to make deposits to their online gaming accounts quickly and securely without leaving the gaming experience.

The solution validates payment account ownership on withdrawals as well as deposits, so consumers can use Instant Bank Transfer to collect their winnings directly to their bank account – regardless of the method used to deposit funds.

“With low credit card acceptance rates, Canada’s iGaming market needs a seamless bank-account-based payment option,” says Dave Roe, COO of Paramount Commerce. “Instant Bank Transfer will greatly benefit Ontario’s newly regulated market by improving player acquisition and loyalty.”