EPG Financial Services launches paylado e-wallet app for convenient cash transactions

EPG Financial Services, a German-owned subsidiary of the Gauselmann Group and a financial payment service provider, has announced the launch of its e-wallet app paylado.

paylado customers can make real-time cash top-ups and withdrawals using their smartphones "from thousands of retail and casino locations." The e-wallet app is described as "a simple, fast, safe, and reliable application compliant with financial regulations FIAU, EBA, GGL and MFSA."

Locations include large petrol stations, supermarket brands, as well as selected Gauselmann-operated entertainment venues. The technology of the paylado cash loading service is powered by European payments business Funanga, which EPG says was chosen for its ease of use, best-in-class security features, and network of Point-of-Sale payment partners.

To load the paylado app, customers generate a barcode within the digital wallet, have it scanned at the point of sale, and the funds will be instantly credited to their paylado wallet. The barcode is unique to each customer and to paylado, cannot be transferred, and has no financial value until it is scanned.

Jens Bader, Funanga CEO

The closed-loop system is designed for security and simplicity for operators and customers alike, "facilitating the demands of those customers who like to have the option to fund their Paylado wallet and entertainment activities with cash."

"We work with the biggest iGaming brands in the world, and the EPG Financial Services partnership is a perfect demonstration of why," said Jens Bader, Funanga CEO.

"The paylado team was building an innovative payment solution for users and needed an out-of-the-box white label product, that is reliable, established, and designed predominantly for iGaming. We knew that the service would need to meet customer expectations from day one, with no teething problems. It also needed to be easy to use and incredibly secure."

"We chose Funanga for its robust track record on customer security, regulatory compliance, and technical quality. Gauselmann has built an unrivaled reputation in the casino and entertainment sectors. We expect our customers' iGaming experience to meet the same high standards," said Rupert Kainzbauer, CEO of paylado/EPG Financial Services.

"Having a large ready-made network of POS locations was therefore essential because it would enable players to pay from tens of thousands of convenient locations immediately. The additional advantage with the Funanga platform is the embedded automated closed loop nature of the product."