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

Published

4 years ago

May 19, 2022

Reading Time: 3 minutes

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.

Basketball Federation of Ukraine

GGBET UA and FBU Host “Media Slam”: A Landmark Open Media Event for Ukrainian Basketball

Published

4 hours ago

April 10, 2026

Wladimir P.

ggbet-ua-and-fbu-host-“media-slam”:-a-landmark-open-media-event-for-ukrainian-basketball

In a historic move for Ukrainian sports, the Basketball Federation of Ukraine (FBU) and title sponsor GGBET UA recently hosted Media Slam in Kyiv. This inaugural open media event served as a high-level forum to analyze the regular season results of the GGBET SuperLeague and the recent performances of Ukraine’s men’s and women’s national teams.

Since becoming the league’s title sponsor in January 2026, GGBET UA has prioritized transparency and engagement. The event highlighted a significant milestone: the return of fans to stadiums despite the ongoing challenges of martial law, signaling a resilient recovery for the domestic game.

Highlights and Recognition

The “Media Slam” wasn’t just about statistics; it was a celebration of the sport’s current momentum:

MVP Honors: The regular season’s top five players were officially recognized for their outstanding contributions.
Kyiv-Basket Victory: The Ukrainian Cup winners received a formal check in honor of their championship win.
Market Discussion: Stakeholders engaged in a candid dialogue regarding the increasing competitiveness of the league.

Sergii Mishchenko, CEO of GGBET UA, commented:

“We didn’t get involved in Ukrainian basketball just to have our logo on a banner. This is a systematic approach. We see the increasing interest in basketball and want to be a part of that growth. The tougher the competition, the stronger Ukrainian basketball becomes.”

A Strategic Expansion

Basketball marks a major pillar in GGBET UA’s diversifying sports portfolio. Following high-profile partnerships with FC Dynamo Kyiv, FC Polissya Zhytomyr, and the Usyk vs. Dubois 2 rematch, the brand is now cementing its status as a cornerstone of the Ukrainian basketball ecosystem.

The post GGBET UA and FBU Host “Media Slam”: A Landmark Open Media Event for Ukrainian Basketball appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

BiS Awards 2026

EGT and EGT Digital have been honored with the Best VLT Solution prize at the BiS Awards 2026

Published

5 hours ago

April 10, 2026

Wladimir P.

egt-and-egt-digital-have-been-honored-with-the-best-vlt-solution-prize-at-the-bis-awards-2026

EGT, in collaboration with EGT Digital, has been distinguished for their joint video lottery product for Brazil at the prestigious BiS Awards 2026, highlighting excellence in the country’s rapidly growing gaming and betting industry. The companies took the accolade in the Best VLT Solution category at an official ceremony held on April 7 in Sao Paulo as part of the BiS SiGMA South America event.

The award comes in recognition of the successful debut of VLT terminals in the regulated state of Paraíba, where they had their first large-scale installation at the beginning of this year, generating strong player interest and demonstrating impressive results ever since.

In addition, EGT’s VLT product has been approved in a Proof of Concept (PoC) process under the Rio de Janeiro State Lottery, and will soon be available to the gaming audience in this state as well.

The omnichannel solution, delivered jointly by EGT and EGT Digital, provides a complete Video Lottery Terminal (VLT) ecosystem, featuring land-based equipment, a technological platform, and a rich library of gaming content. Developed according to the international standards, it has been adapted to meet the specific requirements of the Brazilian market and its regulatory framework.

Celina Guedes, Regional Director Brazil at EGT, commented: “It is an honor to us to be acknowledged by the BiS Awards competition, which is a benchmark for outstanding achievements in the sector. Our complete omnichannel VLT solution is designed to perform across different industry segments and is about to unleash its enormous potential in the near future. The prize is proof that we are able to fulfil the ever-increasing demands placed on providers and even set new higher standards in the extremely competitive gaming ecosystem in Brazil and the Latin American region as a whole.”

The post EGT and EGT Digital have been honored with the Best VLT Solution prize at the BiS Awards 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

8bit Binks

S8UL Esports Triumphs in VCSA 2026 Split 1: A Grand Final Masterclass

Published

5 hours ago

April 10, 2026

Wladimir P.

s8ul-esports-triumphs-in-vcsa-2026-split-1:-a-grand-final-masterclass

In a heart-pounding display of tactical precision and mental fortitude, S8UL Esports has been crowned the VALORANT Challengers South Asia (VCSA) 2026 Split 1 Champions. The victory came after an intense five-map Grand Final against Revenant Xspark, where S8UL emerged victorious with a 3-2 scoreline, solidifying their dominance in the regional VCT ecosystem.

With this win, S8UL takes home the lion’s share of the prize pool—INR ₹9,00,000—and sets a high benchmark for the remainder of the 2026 season.

The Road to the Trophy

S8UL’s journey through Split 1 was a testament to their growth following the 2025 season. Their path to the podium included:

League Phase Dominance: Consistent performance against seven of South Asia’s elite teams.
Semifinal Sweep: A commanding 2-0 victory over Asterisk, showcasing a roster peaking at the perfect moment.
The 5-Map Thriller: A back-and-forth Grand Final against Revenant Xspark that tested the limits of both skill and composure.

Strategic Growth and Leadership

The victory highlights the successful vision of Mithul “8bit Binks” Nayak, the driving force behind this revamped roster. Under the leadership of veteran captain Ganesh “SkRossi” Gangadhar, the team displayed evolved coordination and the ability to clutch out decisive rounds under immense pressure.

“Winning Split 1 gives us confidence, but we know the season is long,” said SkRossi. “I’m proud of how the team stayed focused in the crucial moments.”

Impact on the VCT Ecosystem

VCSA Split 1 serves as the critical pathway for South Asian teams to climb into the VALORANT Champions Tour (VCT). By securing the first title of the year, S8UL not only establishes themselves as the team to beat but also positions themselves favorably for international qualification opportunities in Split 2 and beyond.

Animesh ‘Thug’ Agarwal, Co-Founder and CEO of S8UL, noted: “The team showed incredible composure in a high-pressure final. This result is a testament to the work they’ve been putting in behind the scenes. We’ve always believed in this roster.”

The post S8UL Esports Triumphs in VCSA 2026 Split 1: A Grand Final Masterclass appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.