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The Credit Thing goes live with TrueLayer’s Open Banking recurring payments, bringing VRP to consumers for the first time
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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TRUEiGTECH has announced the launch of an enterprise-grade prediction market platform, designed to help operators, platform owners, and institutions build outcome-based or event-driven trading markets at scale.
As traditional sports betting, media monetization, and trading platforms face growing competition and regulatory complexity, prediction markets are emerging as a fast-growing adjacent category. By converting collective expectations into tradable probability signals, operators can offer differentiated products without the need for entirely new user acquisition channels.
TRUEiGTECH-built prediction markets are already deployed by operators across the USA and Europe, with additional rollouts underway. Once a niche, prediction markets are now becoming primary offerings for iGaming operators. Analysts forecast that leading platforms could handle $1 trillion in annual trading volume by 2030, up from roughly $10 billion today, with revenues potentially exceeding $10 billion.
Why Operators Are Turning to Prediction Markets
Prediction markets offer several advantages:
-
“Bet-on-anything” model – create markets across business, finance, entertainment, politics, and emerging trends.
-
Faster market entry – ideal for existing iGaming operators with infrastructure in place.
-
Early-mover advantage – tap into a category still developing globally.
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Global momentum – strong uptake in the U.S. and other regulated markets where event-driven participation is growing.
Flexible Deployment Models
TRUEiGTECH co-founder Prish Kumar explained:
“We provide turnkey and bespoke prediction market platform development solutions. Plus, we also offer prediction market clone development and prediction market API integration solutions.”
Operators can use TRUEiGTECH platforms to launch new prediction markets or extend existing offerings, with flexibility and scalability at the core. The platform is designed to be regulation-ready for markets in the USA, Europe, and other regulated jurisdictions.
TRUEiGTECH: Enterprise iGaming Solutions
TRUEiGTECH specializes in enterprise-grade betting and trading infrastructure, offering:
-
Casino Platforms – AI-driven online casino software , multi-game aggregation, player account management, and compliance-ready architecture.
-
Sweepstakes Platforms – legally structured software for markets with restricted real-money gaming.
-
Sportsbook Software – advanced odds management, risk control tools, and real-time in-play betting.
-
Casino Games – responsive slots and custom content optimized for performance and integration.
-
Lottery Platforms – supporting draw-based, instant win, and hybrid formats with regulatory reporting.
All solutions are built for regulated markets across the USA, Europe, LATAM, and the UK.
Contact
Head of Marketing
Prish K
TRUEiGTECH
The post TRUEiGTECH Unveils Enterprise-Grade Prediction Market Platform for Operators appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
TRUEiGTECH has announced the development of an enterprise-grade prediction market platform designed to help operators, platform owners, and institutions launch outcome-based or event-driven trading markets at scale.
As traditional sports betting, media monetization, and trading platforms face increasing competition and regulatory complexity, prediction markets are emerging as an adjacent category with significant growth potential. By converting collective expectations into tradable probability signals, these markets provide operators with a differentiated product without requiring entirely new user acquisition channels.
TRUEiGTECH built prediction markets are already used by operators across the USA and Europe with additional deployments underway. Prediction markets have transitioned from experimental niche platforms to primary offerings by iGaming operators.
Analysts forecast leading prediction platforms will handle roughly $1 trillion in annual trading volume by 2030, up from about $10 billion today. Revenue, meanwhile, could rise to $10 billion+ by 2030.
TRUEiGTECH’s decision to build prediction market software and platforms at this juncture will certainly prove useful for business owners and operators looking to enter the industry with the right product.
Operators are increasingly drawn to this segment because it offers:
- A “bet-on-anything” model, enabling markets across business, finance, entertainment, politics, and emerging trends.
- Faster entry compared to traditional sportsbooks, especially for existing iGaming operators with established infrastructure.
- Early-mover advantage in a category that is still taking shape globally.
- Strong momentum in the U.S. market & across the globe, where demand for event-driven participation continues to accelerate.
TRUEiGTECH Offers Prediction Market Platforms in Multiple Ways
TRUEiGTECH’s co-founder, Prish Kumar, shares the multiple models and solutions available as a part of the company’s prediction market offerings.
“We provide turnkey and bespoke prediction market platform development solutions. Plus, we also offer prediction market clone development and prediction market API integration solutions.”
With TRUEiGTECH, operators can launch prediction markets or extend existing business offerings. By focusing on flexibility and scalability, TRUEiGTECH aims to position prediction markets as an accessible expansion path rather than a complex standalone venture.
With this launch, TRUEiGTECH enters the prediction market space as an infrastructure provider focused on enabling operators to build and launch regulation-ready prediction platforms in the USA, Europe and other regulated markets.
About TRUEiGTECH
TRUEiGTECH is a software development company which specializes in enterprise-grade betting and trading infrastructure development. The company builds turnkey and custom platforms for;
- Casino Platform: AI-empowered online casino software featuring multi-game aggregation, player account management (PAM), secure payment systems, and compliance-ready architecture for regulated markets.
- Sweepstakes Platform: Legally structured online sweepstakes software designed for markets where traditional real-money gaming is restricted, enabling operators to monetize engagement while maintaining regulatory alignment.
- Sportsbook Software: Comprehensive sportsbook software solutions featuring advanced odds management, robust risk control tools, real-time in-play betting capabilities, and scalable architecture designed for seamless multi-jurisdiction operations.
- Casino Games: Responsive casino and slot games, with custom gaming content developed through expert casino game development processes, optimized for performance, player retention, and seamless integration into existing gaming platforms.
- Lottery Platforms: Advanced lottery software solutions supporting draw-based, instant win, and hybrid formats, with capabilities for retail POS integration, ticket management, and regulatory reporting.
TRUEiGTECH’s iGaming solutions are built for globally regulated markets, including the USA, Europe, LATAM, and the UK.
Contact
Head of Marketing
Prish K
TRUEiGTECH
The post TRUEiGTECH Unveils Enterprise-Grade Prediction Market Platform for Operators appeared first on Americas iGaming & Sports Betting News.
TRUEiGTECH has announced the development of an enterprise-grade prediction market platform designed to help operators, platform owners, and institutions launch outcome-based or event-driven trading markets at scale.
As traditional sports betting, media monetization, and trading platforms face increasing competition and regulatory complexity, prediction markets are emerging as an adjacent category with significant growth potential. By converting collective expectations into tradable probability signals, these markets provide operators with a differentiated product without requiring entirely new user acquisition channels.
TRUEiGTECH built prediction markets are already used by operators across the USA and Europe with additional deployments underway. Prediction markets have transitioned from experimental niche platforms to primary offerings by iGaming operators.
Analysts forecast leading prediction platforms will handle roughly $1 trillion in annual trading volume by 2030, up from about $10 billion today. Revenue, meanwhile, could rise to $10 billion+ by 2030.
TRUEiGTECH’s decision to build prediction market software and platforms at this juncture will certainly prove useful for business owners and operators looking to enter the industry with the right product.
Operators are increasingly drawn to this segment because it offers:
- A “bet-on-anything” model, enabling markets across business, finance, entertainment, politics, and emerging trends.
- Faster entry compared to traditional sportsbooks, especially for existing iGaming operators with established infrastructure.
- Early-mover advantage in a category that is still taking shape globally.
- Strong momentum in the U.S. market & across the globe, where demand for event-driven participation continues to accelerate.
TRUEiGTECH Offers Prediction Market Platforms in Multiple Ways
TRUEiGTECH’s co-founder, Prish Kumar, shares the multiple models and solutions available as a part of the company’s prediction market offerings.
“We provide turnkey and bespoke prediction market platform development solutions. Plus, we also offer prediction market clone development and prediction market API integration solutions.”
With TRUEiGTECH, operators can launch prediction markets or extend existing business offerings. By focusing on flexibility and scalability, TRUEiGTECH aims to position prediction markets as an accessible expansion path rather than a complex standalone venture.
With this launch, TRUEiGTECH enters the prediction market space as an infrastructure provider focused on enabling operators to build and launch regulation-ready prediction platforms in the USA, Europe and other regulated markets.
About TRUEiGTECH
TRUEiGTECH is a software development company which specializes in enterprise-grade betting and trading infrastructure development. The company builds turnkey and custom platforms for;
- Casino Platform: AI-empowered online casino software featuring multi-game aggregation, player account management (PAM), secure payment systems, and compliance-ready architecture for regulated markets.
- Sweepstakes Platform: Legally structured online sweepstakes software designed for markets where traditional real-money gaming is restricted, enabling operators to monetize engagement while maintaining regulatory alignment.
- Sportsbook Software: Comprehensive sportsbook software solutions featuring advanced odds management, robust risk control tools, real-time in-play betting capabilities, and scalable architecture designed for seamless multi-jurisdiction operations.
- Casino Games: Responsive casino and slot games, with custom gaming content developed through expert casino game development processes, optimized for performance, player retention, and seamless integration into existing gaming platforms.
- Lottery Platforms: Advanced lottery software solutions supporting draw-based, instant win, and hybrid formats, with capabilities for retail POS integration, ticket management, and regulatory reporting.
TRUEiGTECH’s iGaming solutions are built for globally regulated markets, including the USA, Europe, LATAM, and the UK.
Contact
Head of Marketing
Prish K
TRUEiGTECH
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