Expert in global acquiring payment, fraud and data analysis services, PXP Financial, announced its arrival in Canada on the same week as the Ontario iGaming and sports betting market launch on April 4, 2022.
Ontario is the next key territory for sports betting since New Jersey became one of the first states to legalize sports betting and online wagering after a 2018 Supreme Court decision. As the largest populated province in Canada, representing 40% of the population, "it is the ideal base from which PXP Financial can help shape the future of online gaming in the country", the company stated.
PXP Financial is supporting sports betting and gaming entertainment companies with its expansion plans by providing an all-in-one, full-service gateway solution and service with a single API integration that connects all alternative payment and card solutions across multiple US states, and now into Canada.
This makes managing the payment process across multiple territories simpler while rolling out, as there is no need for multiple integrations.
In an official press release, Kamran Hedjri, CEO at PXP Financial, spoke about this expansion and said: "After our success launching across the USA, Canada seems like the next natural step for our continued growth. Sports betting in Canada is expected to increase by billions in the next five years and our launch into Ontario is set to be the blueprint for a new online gaming framework, which will set the trend for overall gaming regulation in Canada."
The announcement comes as the government of Ontario officially launched its new online gaming market, including online casinos and esports betting sites. Ontario is the first province in Canada to permit private companies to operate in online gaming. The provinces of Alberta and Saskatchewan are also taking some steps to open up the market to private sector businesses.