First Data Launches Gambling Platform

First Data has launched a payments platform for online and casino-based gaming.

The product, called PayLucky Solutions, will allow gambling forums—including  racetracks, lotteries and online poker firms—to manage payments from multiple users.

"PayLucky takes the complexity out of managing multiple providers and creates a streamlined experience for the U.S. gambling market with built in risk-management protections for all parties," says  Jonathon O'Connor, a general manager at First Data, in a July 8 news release.

The platform uses a third-party service to validate transactions. It also provides users with several options for accessing their funds, including through prepaid cards or paper checks.

While the payments industry has been slow to embrace gambling payments, some companies such as Optimal Payments and Vantiv  have recently pursued the gaming industry.

First Data, which is restructuring its debt as it responds to innovation in the payment industry,  has also been pushing deeper into security services, recently partnering with Trustwave to provide data compliance tools to small and mid-sized companies. First Data also recently began working with VeriFone to upgrade payment hardware at gas pumps.