Latest News
How the UKGC Ban on Credit Cards Affected Payment Provider Industry and Consumer Habits
The UK Gambling Commission ban on the use of credit cards has challenged consumers and businesses, seeking to adapt to the new requirements.
On April 14th, the new UKGC ban came into effect, prohibiting the use of credit cards to top-up online gambling accounts: the measure was instituted in an effort to mitigate financial risks for consumers and prevent them from gambling with the money they do not possess. The new regulation challenged some of the prevalent consumer habits and pushed payment vendors to expand the scope of their services.
Agnė Selemonaitė, Deputy CEO at ConnectPay, shared her insights on the impact it had for both sides of the market.
Impact for payment service providers
According to Ms. Selemonaitė, current changes the industry is going through will affect not only the bettors’ spending habits, but also payment gateway providers, aiming to supply the market with flexible, as well as compliant, solutions.
“Our focus has always been on being proactive towards any new developments in the market. That’s why even amidst lockdown we pivoted towards integrating more payment methods into our Merchant API to provide gambling vendors with more options to facilitate payments,” explained A. Selemonaitė.
According to Selemonaitė, more and more gambling sites are getting into partnerships with payment service providers, seeking to streamline settlements for their regular bettors and provide a greater on-site experience. As ConnectPay aims to continue growing its payments selection, Selemonaitė encourages operators to look into how leveraging diverse solutions could help better match their clients expectations.
As the opinions on the policy are two-fold, A. Selemonaitė noted that every decision, with the goal of mitigating risks for consumers, should be a welcomed initiative. That said, it is important that alternative solutions rolled out into the market would meet both vendor and consumer needs, but with added safety, while being compliant with the new measures. “In order for business to welcome new measures, regulators need to stay focused on setting up such an environment that fosters the development of a holistic system and doesn’t hinder scaling opportunities,” she added.
What are the alternatives for consumers?
The operators’ commitment to enable clients to continue enjoying their favorite pastime while spending within reason led betters to get accustomed with various other payment options.
Visa and Mastercard debit cards
Using a debit card is almost identical to using a credit card, with the main difference that with the prior, the funds are taken directly from the checking bank account, rather than being charged to a line of credit to be paid for later. This ensures that the bettors themselves verify payments, and help protect the account from scammers’ malicious intent.
Prepaid cards
Many providers, such as ConnectPay, issue prepaid cards, which, unlike debit, are not linked to a bank account to draw money from. Instead, the customer is spending money that has been loaded onto the card beforehand. Prepaid cards are limited by default, therefore one can only access the amount of funds that have already been vouched for.
E-wallets
Although the credit card ban extends to e-wallets, they can still be used for gambling-related payments with the exception that the service does not support credit lending. Similar to prepaid cards, e-wallets require money to be loaded prior to any transaction. It is an appealing alternative as it offers faster payouts and enables switching back and forth between different gambling sites with ease.
Cryptocurrency
Another method to deposit money is using a cryptocurrency, such as bitcoin. It provides total anonymity, as no personal details are shared with the site, making it one of the most secure alternatives. Although many do not understand the inner workings of the crypto industry, it remains a viable option for all tech-savvy betters.
Even though some may still be unconvinced about the necessity of the new legislation, it is shaping up to be a sound solution, which could lead to heightened industry transparency, as well as provide consumers with more payment options to choose from. However, its true impact on the industry will show only after some time.
Powered by WPeMatico
The SOFTSWISS Game Aggregator, the largest content hub in the iGaming industry, has secured Brazilian certification, becoming one of the first in the market to achieve this milestone.
Regulatory rules for iGaming come into effect in Brazil on 1 January 2025. According to them, platforms, aggregators, sportsbooks, and providers must undergo certification. Companies aiming to provide their services in Brazil in 2025 and beyond have been preparing for this transition throughout the year.
The SOFTSWISS team announces that its Game Aggregator is the first to fully comply with regulations, completing all necessary preparations and receiving the certificate to ensure smooth and efficient operations for its clients.
SOFTSWISS has also obtained certification for integration with the world’s largest game providers – Pragmatic Play, Evolution, and Playtech. These providers offer a diverse range of games tailored to suit the preferences of Brazilian players, from immersive live dealer experiences to engaging slots and table games, ensuring entertainment for every type of player.
According to recent Kantar research conducted in November 2024, the overall satisfaction index for the SOFTSWISS Game Aggregator is 8.1 out of 10. Remarkably, half of the respondents rated the product a 10 or 9. Customer support service satisfaction scored even higher, at 8.4 out of 10.
The Game Aggregator also boasts a key advantage: consistent 99.999% uptime, which is crucial for the iGaming business.
Ivan Montik, Founder of SOFTSWISS, notes: “According to our information, the SOFTSWISS Game Aggregator is the first aggregator fully prepared, both technically and legally, to work in Brazil when the new regulations take effect. This is a significant achievement that the team has worked on diligently and systematically. Our work doesn’t stop here – we are actively adding new providers to help our clients expand their presence in this promising Brazilian market, which is no longer ‘the sleeping giant’. It has awakened, and SOFTSWISS is at the forefront of this exciting transformation.”
To support this high level of performance, earlier this year SOFTSWISS appointed Rubens Barrichello, the Brazilian Formula 1 legend, as a Non-Executive Director, demonstrating its strong commitment to the local market. To ensure efficient operations and promptly address ongoing matters, SOFTSWISS also has a dedicated team of local business development managers in Brazil.
SOFTSWISS team will be available to discuss partnership in Brazil and other markets at the first major iGaming event of 2025 – ICE Barcelona, taking place on 20–22 January, at stand 2G42.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka Affiliate Platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post SOFTSWISS Game Aggregator: Largest Content Hub Certified in Brazil appeared first on European Gaming Industry News.
Digitain, the leading provider of sportsbook and casino platform solutions, announced today that Edmond Ghulyan, the Group Chief Strategy Officer, has been promoted to CEO of Relum, the casino engine solution provider that is part of the Digitain Group of Companies.
Edmond has held several key leadership positions within the Digitain Group over the past seven years, including Chief of Centrivo Products and Group Chief Strategy Officer. He brings extensive experience in the iGaming industry, along with expertise in digital strategy, product innovation, operations, and market-product fit strategies. His comprehensive understanding of both B2B and B2C iGaming supply chains will be invaluable in further scaling Relum’s product offerings, including casino aggregation services and market expansion.
Digitain’s Group Founder, Mr. Vardges Vardanyan, commented on the promotion: “I am delighted to have Edmond lead the Relum team. With his extensive experience in product and commercial development at Digitain over the years, Edmond will support and facilitate comprehensive solutions as Relum expands its services to B2C partner operators in high-growth markets.”
Edmond Ghulyan, CEO of Relum, expressed his enthusiasm for the new role: “I am truly excited to have played my part of Digitain’s growth journey, and now Relum, a company that has consistently expanded its business solutions within the global regulated iGaming supply chain. The company’s customer-centric approach and commitment to its people in delivering complex solutions for today’s multi-jurisdictional regulated operators have always impressed me. I eagerly look forward to scaling the Relum business with new and existing partners and leading the product and sales team in the coming months.”
The post Digitain has promoted Group Chief Strategy Officer to CEO of Relum appeared first on European Gaming Industry News.
Zitro, a leading global gaming company, has announced the successful launch of its first Wide Area Progressive (WAP) in Argentina, with over 45 slot cabinets initially installed in five gaming halls located at the Hipódromo de Palermo. The product selected for this project is the successful game “Mighty Hammer Ultimate” on Zitro’s premium cabinet, “Altius Glare.”
This system represents the first WAP in South America. A shared jackpot called “Mega Pozo Mighty Hammer” starts at 50 million Pesos and grows progressively, making it the largest accumulated prize in the region. The official inauguration was held on December 19th during the exclusive “Noche de Palermo” event, including a live performance by the renowned Argentinian band Los Totora.
Company Directors commented: “We are very pleased to introduce Argentina’s first WAP at the Hipódromo de Palermo. This project – for which we partnered with Zitro – reiterates Casino Club’s commitment to innovation, always under the premise of offering our customers an entertainment experience that exceeds all their expectations.”
For her part, Alejandra Burato, Regional Director of Zitro for LatAm, commented: “The launch of our first WAP in Argentina is a very important milestone for Zitro, as it confirms our company as a supplier of machines for WAPs. Attending the inauguration event and seeing firsthand how our products connect with players has been a pleasure, providing a unique and different entertainment experience in the region. Additionally, I want to highlight the excellent marketing surrounding the launch, contributing to its success. Finally, I would like to thank Casino Club for their trust and collaboration, which has allowed us to present this innovative proposal in such a renowned and emblematic place as the Hipódromo de Palermo.”
-
Australia5 days agoAUSTRAC Takes Ladbrokes and Neds’ Operator – Entain – to Federal Court Over Serious Non-compliance with Australia’s Money Laundering Laws
-
Australia6 days ago
Christine Howlett Appointed as New Commissioner of NSW Independent Casino Commission
-
Africa6 days ago
Altenar obtains National Manufacturer licence in South Africa
-
Latest News5 days ago
Join the Danish Problem Gambling Committee’s Online Conference: A Critical Conversation on Problem Gambling Prevention and Treatment
-
Balkans6 days ago
Evoplay joins forces with Slotino to expand Bulgarian reach
-
FreezeNova3 days ago
10-15% Of Gamers In Florida Show Signs Of Gaming Addiction: Here Are 10 Signs Your Kid Is Suffering From It (And How You Can Help)
-
Compliance Updates6 days ago
SYNOT Games Officially Certifies Over 140 Games in Brazil
-
eSports6 days ago
ComeOn Group and Astralis unite to drive esports engagement in the Nordics
