A new cashless payment platform BuyLottoNow, has launched in convenience stores to elevate engagement and efficiency in lottery payments.
The expansion allows c-stores to accept payment for draw games and scratch off tickets easily on a mobile phone with a seamless interface into existing POS terminals.
Furthermore, it’s bringing its proprietary decoupled debit mobile payment platform featuring no processing fees to c-store operators. In addition to no processing fees, BuyLottoNow makes lottery a potential winning loyalty programme that can drive increased in-store foot traffic through merchant branded no cost email campaigns.
Unlike cash, the platform knows who a retailer’s lottery players are, where and what they are buying and how much they are spending so the retailer can target such products as gas and merchandise offers to these customers.
Joe Randazza, CEO of BuyLottoNow, who also co-founded National Payment Card Association commented: “The BuyLottoNow solution eliminates the transaction fee for the retailer which is their number one concern. In fact, it may very well be the first time a payment system isn’t charging the fee to the retailer. Plus, the extra benefit of a loyalty engagement programme makes participating retailers a VIP destination for lottery players.
“Cash is suppressive to the impulse of high jackpot games or $20 scratch off tickets. Cashless payment will bring a lift in sales and commissions.”
Today online lottery sales are in their infancy with approximately $2 billion in sales. It is estimated that the 13 states currently selling lottery products online will reduce c-store retailers’ commissions by $126 million this year alone. The pandemic has caused states to accelerate their interest in online lottery sales pushing projections to $262 million in reduced commissions to retailers by 2025.