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UKGC Issues Guidance on Credit Card Payments Through MSBs
The UK Gambling Commission’s recent ban on credit cards has been extended to the payments for gambling made by credit card through any money service business (MSB).
The new licence condition 6.1.2 prevents gambling operators from accepting payments by credit card either directly or through any MSB which allows credit card deposits.
Operators are now required to take the following course of action before accepting customer payments via any MSB:
Operators must satisfy themselves that customers of that MSB cannot fund their e-accounts or e-wallets with credit card deposits and then use those funds for gambling.
Operators will need to reject all payments made through such MSBs that have not developed a “block” to prevent credit card deposits being used for gambling through their e-account or e-wallet facilities.
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