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The Credit Thing goes live with TrueLayer’s Open Banking recurring payments, bringing VRP to consumers for the first time

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TrueLayer, Europe’s leading open banking platform, announced that The Credit Thing has successfully implemented its recurring payments API and made the first consumer Variable Recurring Payments (VRP) transactions in the UK.

The Competition and Markets Authority has mandated the UK’s nine largest banks to provide VRPs that support the automatic transfer of money between two accounts belonging to the same person, referred to as ‘sweeping’. TrueLayer is the first open banking provider to offer a single API that enables businesses to connect to select UK banks, including HSBC, to take recurring payments as a replacement for direct debit and card-on-file payments.

The Credit Thing is focussed on helping the more than 15 million people in the UK who are left behind by incumbent services due to thin credit histories. Using open banking to securely link bank accounts during the application process, consumers whose credit histories look thin or non-existent can prove their creditworthiness. In addition, by applying in-app rather than online, virtual cards are issued as soon as they are approved, which can then be added to Apple Pay or Google Pay or used to pay for purchases online.

An existing TrueLayer customer for standalone consumer payments powered by open banking, it is now using the firm’s recurring payment API to deliver an improved experience for consumer repayments. Rather than clunky direct debits that can take days to process, with TrueLayer consumers can mandate recurring payments in seconds and The Credit Thing receives instant notification.

Consumers also have far more control, with a single payment approval that removes the need to re-authenticate or re-authorise transactions, through a payment consent that is tied to a bank account and doesn’t expire until it’s revoked by them. Unlike both direct debit and card-on-file, recurring payments with TrueLayer provide The Credit Thing with instant access to the funds deposited. It’s also a more cost effective alternative, removing the fees incurred by card payments and their potential for chargebacks, and the operational overheads of managing direct debits.

Colin Hollingsbee, CIO for The Credit Thing, commented: “Could this be the beginning of the end for Direct Debits? VRP is a real game changer. We pride ourselves on providing great experiences and being at the cutting edge. That’s why we’re excited to be the first in the industry to do this with TrueLayer, reinforcing our philosophy to deliver on innovation.

“This isn’t innovation for the sake of it. It delivers meaningful benefits – consumers are firmly in control, the service is secure and user friendly, the cost of service is ultra competitive, and regular payment approval rates are likely to be phenomenal.”

Kirill Zotin, CTO for The Credit Thing, added: “VRP integration may sound complex, but with the TrueLayer partnership it was seamless. It took just a few weeks from our first conversation to live payments. This is what the future of banking looks like, when agility and innovation pushes the boundaries of available services. I’m really glad that consumers using The Credit Thing already experience the future of payments.”

Matt Parish, Product Lead for VRP at TrueLayer, commented: “This is a significant day for the UK payments industry – the first business using variable recurring payments to deliver a better consumer experience. TrueLayer’s first-of-its-kind API brings the transparency, speed and control of VRP to more people in the UK as a replacement for direct debit and card-on-file payments. We’re delighted to be working with an innovator like The Credit Thing who has seen the massive potential of VRP to support its business.”

TrueLayer is the market leader having launched the industry’s first recurring payments API for both sweeping and sweeping in early May. This was followed by NatWest Group signing an agreement with TrueLayer to provide VRPs as a new payment option for businesses and consumers.

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Andreas Ottenschläger

Austria: Draft bill entered parliamentary consultation

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Background

Austria’s governing coalition — ÖVP, SPÖ and NEOS — has agreed a sweeping overhaul of the Gambling Act. The draft bill entered parliamentary consultation on, Monday 29 June 2026. Lead negotiators Andreas Ottenschläger (ÖVP), Jan Krainer (SPÖ) and Christoph Pramhofer (NEOS) call it the biggest reform of the law in 26 years. Two pillars: tougher player protection, and a ground-up rewrite of online licensing.

Timing

No formal Council of Ministers resolution is public yet. What is public: the draft amendments went into parliamentary consultation today. Next comes TRIS — the draft must be notified to the European Commission, says Vienna-based gambling lawyer Arthur Stadler, triggering a standstill of at least three months before parliament can hold a final vote. Extensions are possible.

Cooling-off / non-offering period

The bad-actor clause has three teeth: retroactive tax payment, settlement of player claims, and a non-offering period. On the last point: Under the draft, operators must clear that freeze properly: from 1 January 2027 until the licence is actually granted, they have to shut down their existing unlicensed online offering. Fail to comply, and the penalty escalates fast: any operator that doesn’t observe the cooling-off phase faces an 18-month lock-out from licensing altogether. Stadler’s math: That’s a minimum nine-month freeze, 1 January to end-September 2027 at least depending when the licenses are awarded individually. It looks like that first license might be granted to those new market entrants adopting such early blackout, timewise landing exactly after the moment when Austrian Lotteries’ win2day concession expires on 30 September 2027.

The bad-actor clause has three teeth: retroactive tax payment, settlement of player claims, and a non-offering period. On the last point: Under the draft, operators must clear that freeze properly: From 1 January 2027 until the licence is actually granted, they have to shut down their existing unlicensed online offering. Fail to comply, and the penalty escalates fast: any operator that doesn’t observe the cooling-off phase faces an 18-month lock-out from licensing altogether. Stadler’s math: the legislator has, without saying so explicitly, built in an incentive structure. The floor is a nine-month freeze — 1 January through end-September 2027 — though actual length depends on when individual licences get awarded. The likely sequencing: new entrants who front-load the blackout early position themselves first in line, with awards landing right after Austrian Lotteries’ win2day concession expires on 30 September 2027.

Contradiction

Stadler sees a basic contradiction baked into the package. “Two of the three major elements work against each other. If the Finance Ministry wants to maximise retroactive tax recovery, a mandatory blackout period hands you a tax base of zero for that exact stretch. You can’t optimise for both. Operators are left asking whether the real goal is revenue or exclusion.”

Austria as a high-tax jurisdiction

Beyond the clearance condition — and an unresolved question of whether repaid player amounts can be offset against ongoing tax liabilities — sits the headline number: a 45% GGR tax rate. That puts Austria in elite company, in the same bracket as the UK (40% from April 2026) and the Netherlands (37.8%). “It’s a top-of-the-table tax rate for a market that doesn’t even have a functioning licensed channel yet,” Stadler says. But the tax rate alone doesn’t tell the whole story, he adds. “Even at 45% GGR, whether Austria actually functions as a licensed market depends on the regulatory mix around it (player protection rules, advertising limits, deposit and stake caps, AML obligations and more). You have to look at the framework as a whole and ask whether it’s actually attractive enough for new entrants. That’s the kind of detail that decides whether the channelisation target is achievable.”

 

Author: Arthur Stadler | STADLER PARTNER

The post Austria: Draft bill entered parliamentary consultation appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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EGT Digital lines up new sportsbook tools and game launches for iGB Live 2026

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Supplier to demo updates including Player Market Props and preview Queen Amber at stand P50 in London, 2–3 July.

EGT Digital will exhibit at iGB Live 2026 in London on 2–3 July, where it plans to present new casino content and Sportsbook enhancements at stand P50.

On the casino side, the company will highlight Goal Kings Bell Link, released earlier this month, which combines a football theme with its Bell Link jackpot and adds an enhanced Buy Bonus feature. EGT Digital will also offer a preview of Queen Amber, a new title scheduled for release on 9 July, featuring expanding wilds, Toppling Reels mechanics, and the Clover Chance jackpot.

EGT Digital will also demo its proprietary Bonus Hub, which it says lets operators run tournaments, Gift Spins promotions, real-time leaderboards, and other engagement mechanics across casino portfolios.

The company’s Sportsbook will be another focus, with demonstrations of recently introduced features including Player Market Props, Sports Progressive Jackpot, and Early Payouts Suite, alongside broader betting and promotional tools. EGT Digital said the Sportsbook can be deployed as a standalone solution or integrated into existing operator environments.

“Events like iGB Live are about conversations as much as they are about products,” said Tsvetomira Drumeva, Head of Sales at EGT Digital. “They give us the opportunity to connect with operators, exchange ideas, and demonstrate how our solutions continue to evolve. We are particularly excited to present Goal Kings Bell Link and give visitors an early look at Queen Amber, while also showcasing the engagement opportunities available through Bonus Hub and the latest developments across our Sportsbook and platform solutions.”

The post EGT Digital lines up new sportsbook tools and game launches for iGB Live 2026 appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Pragmatic Play adds Privé Lounge Russian Poker to live casino portfolio

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New single-player VIP table introduces Dual Hands gameplay and a jackpot side bet paying up to 20,000x, the company said.

Pragmatic Play has expanded its premium live casino portfolio with the launch of Privé Lounge Russian Poker, adding the poker variant to its single-player VIP live environment, the company said.

In the game, players compete against the dealer and can use options including Play, Swap, Add Card, Replace, Insure, or Fold. Pragmatic Play said Russian Poker includes a Dual Hands mechanic that lets players form two ranking poker hands using either five or six cards.

The title also includes a jackpot side bet that can pay up to 20,000x, according to the company. Pragmatic Play said Privé Lounge features include dealer change requests, extended dealer sessions and configurable chat preferences.

Sharon McHugh, Director of Public Relations at Pragmatic Play, said: “Privé Lounge Russian Poker combines strategic gameplay with the exclusivity and personalisation that define the Privé Lounge experience. With dedicated single-player tables, enhanced poker mechanics and exciting jackpot potential, this latest release delivers a premium live casino experience tailored for high-value players seeking something truly distinctive.”

Pragmatic Play said the release follows recent live casino titles including Seotda Baccarat and Amazing Baccarat, and adds to its live poker offerings such as Jacks or Better Draw Poker and Casino Hold’Em.

The post Pragmatic Play adds Privé Lounge Russian Poker to live casino portfolio appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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