Industry News
ConnectPay Launches Payment Verification App as Response to Pandemic-Related Privacy Concerns
In order to strengthen privacy safeguards, ConnectPay has released a payment verification app as a direct response to COVID-related confidentiality concerns. The app will eliminate the risk of data breach due to third party system flaws and lay a robust foundation for developing more in-depth features later on.
The pandemic has raised the alarm about a potential privacy crisis, affecting a range of industries. To tackle risks of confidentiality during the coronavirus outbreak, ConnectPay, an online banking service provider, has released a new mobile application to help ensure payment security and prevent data breach during the vulnerable market conditions.
In an effort to combat the pandemic, some countries have introduced contact-tracing applications, which require sharing personal data with a variety of third parties. This has sparked a discussion about whether access to personal data could be abused. Such threats on the privacy front typically force consumers to reevaluate the services they use and become more aware about the information they choose to share: for example, the Cambridge Analytica case, which involved a major Facebook user data leak, changed the way people communicate on social media, as their posts became significantly less personal. Now, there is a new privacy threat on the horizon, and this time it may lead to a substantial profit and customer loss, as people, once again seeking to protect their personal data, may start ignoring certain services or businesses all together.
There has always been a certain level of skepticism when it came to reliability of third party apps; yet the current situation has only exacerbated the long-standing question, debating the capability of outsourced vendors to handle massive amounts of sensitive data and ensure its safety. Therefore, getting rid of third party authorization while enhancing payment security was the main motivator behind the ConnectPay App launch. In order to better protect client data, TransUnion (formerly Iovation) provided ConnectPay with critical authentication components for a comprehensive fraud prevention framework development to be moved in-house.
“Having a third party to authorize payments may lead to a bunch of risks that aren’t always accounted for. This is one of the main reasons we decided to develop our own payment verification solution,” said Marius Galdikas, CTO at ConnectPay. “By moving the matter in-house, we can closely monitor transaction security, eliminate the risk of data breach due to third party system flaws, and assure our clients, as well as their customers, that, if any problems arise, they will be handled in a timely fashion.”
Currently, the application offers multi-factor authentication to verify payment transactions, however, Galdikas notes, the current version of the app is only at the beginning of its roadmap. The company aims to make all digital banking services available at their clients’ fingertips, as more features will be rolled out in the foreseeable future. The end-goal is to create an all-round mobile solution for all digital banking and payment transaction related services, which is fully independent from third party vendors.
“This is a continuation of the new ecosystem development: the absence of the middleman will increase payment transparency and better protect sensitive information from external threats,” explained M. Galdikas. “Many organizations, even with robust security systems, have fallen victim to privacy breaches due to susceptibility of third parties they are affiliated with.”
“That’s why shifting focus to developing an in-house product enables us to bring more technologically sophisticated and secure solutions for the industry,” continued M. Galdikas. “Additionally, this will enable us to reallocate time and other resources to R&D, and, in turn, provide the market with more solutions that could benefit their business and increase profitability.”
ConnectPay continuously invests in innovative ways to limit financial fraud, and is planning to invest additional 750 thousand euros in Anti Money Laundering and Counter-Financing of Terrorism compliance solutions throughout the current year. In addition, the company restricts the grounds for illicit financial activity, as any unethical business practices are eliminated during a thorough client screening process.
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AskGamblers has announced that the final voting stage of the 8th annual AskGamblers Awards has started.
The voting phase kicked off on 28 April, and will last until the award ceremony scheduled for 12 June.
As in previous editions of the Awards, players can cast their votes for one of the top 10 finalists in the following categories: Best Casino, Best New Casino, Best Sportsbook, Best New Slot and Best Software Provider.
The Best Crypto Casino, Best Partner and Best Manager categories will traditionally be chosen by the AskGamblers team. This yearâs edition introduces a new category, the Superstar Award, a crown achievement handed out to one operator that best represents the values of brands, whose laureate will also be chosen solely by AskGamblers.
Another novelty in this yearâs Awards cycle is the Forum vote: the votes from the members of AskGamblers Forum will be counted towards the final tally of votes as a separate voting tier.
Commenting on the launch of the 8th AskGamblers Awards voting stage, Dijana RadunoviÄ, General Manager at AskGamblers, said: âNow that we have the finalists, we are entering the final stages of preparation for our biggest night of the year. To say that we are excited about the 8th edition of the AskGamblers Award would be an understatement.â
âAs everybody in the team is working tirelessly to make the gala ceremony a night to remember, we invite our players to do their bidding: to give a vote to their favourite contestants and help us choose the rightful winners in the five categories that are open to public vote,â RadunoviÄ added.
Before the award ceremony on 12 June, AskGamblers will host the traditional Charity Night on 11 June, where the partners will bid for positions on the website, with the money raised allocated to a humanitarian cause.
The post The 8th AskGamblers Awards Officially Enters the Voting Stage appeared first on European Gaming Industry News.
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Flexion, the games marketing company, has announced that its revenue grew 9% to year-end December 2024. The growth is attributed to the Companyâs success in the alternative app store market.
Since its IPO in 2018, the company has built a well-positioned games marketing business around the alternative stores and grown annual revenue 50-fold to almost US$100 million. Its game portfolio represents several billion US$ in gaming IP for alternative market partners like Samsung, Amazon, Huawei, OneStore and Xiaomi.
âWith the Digital Markets Act (DMA) coming into force in Europe and recent legal actions in the US, mobile game developers have felt a new-found freedom to explore their market options. Weâve already moved beyond the era when Google and Apple controlled everything. Developers are looking for alternatives that offer better margins, and additional audiences and revenue. Partnering with Flexion opens up a range of market channels with very little up-front investment,â said Jens Lauritzson, CEO of Flexion.
Flexion currently distributes more than 30 high-profile titles on the alternative stores. Top-tier games in the Flexion portfolio make on average US$ 10 million a year based on Q4 2024 run rate. Thatâs income in addition to their Google and Apple revenue with a business model that adds little to their costs.
In Q4 2024, Flexion-serviced games were, on average, generating 9.3% through the alternative stores of the revenue they made on Google Play. This is a significant boost for Flexionâs partners without major costs or effort.
âIf you scale for the size of the stores, the alternatives massively out-performed Google in Q4 for our games. This is exciting both for Flexionâs business and for the future of the games industry as a whole. Weâre seeing the beginning of a sea change in games marketing,â Jens said.
âWeâre seeing just the beginnings of a major shift in how top-tier developers address their markets. Using Flexion to access alternative stores is an easy first step into the post- Google and Apple world. Many developers are already looking at their options beyond that and Flexion will be right there with them providing the technology and expertise they need to maximise the potential of their games,â Jens added.
The post Flexion Reports Revenue Increase of 9% for 2024 appeared first on European Gaming Industry News.
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The latest AskGamblers Complaint Service report for 2024 has officially been released. The comprehensive report highlights the most important accomplishments and records of the AskGamblers Complaint Service team for the previous year.
In 2024, The AGCS team (formerly known as AGCCS) managed to return $6,890,547.11 to players. Over 7259 players turn to AskGamblers, submitting complaints against 1114 casino brands. Out of all the accepted and processed complaints, the team had a 68% resolution success rate. One of the notable milestones that reached was returning a total of $70 million to the members.
Dijana RadunoviÄ, General Manager at AskGamblers, said: âItâs amazing to see the trust players put in us year after year, and weâre able to repay them by helping them recover their funds from operators or solve other related issues. Weâve had another successful year, with a few records broken and amazing milestones achieved and we canât wait to see what lies in store in the years ahead.â
The post Players Reclaim Close to $7M Through AskGamblers Complaint Service in 2024 appeared first on European Gaming Industry News.
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