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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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Kai Botha
QTech Games continues to move fast with Playnetic integration
QTech Games, the leading game aggregator for all emerging markets, has announced its latest partnership with Playnetic, an emerging force in iGaming casino entertainment content allowing its platform clients access to another timely delivered portfolio of games focusing on immersive experiences.
Integrating games from one of the more visually stunning slots providers adds yet more variety to QTech Games’ premier platform, which is taking the widest range of online games to emerging territories with established names sitting alongside the industry’s most exciting up-and-coming providers. Playnetic’s standout titles include recent releases like Patrick vs Joker, alongside established fan favourites such as Joxer, Scarabs of Wealth and Lucky Licks.
Playnetic prides itself on creating engaging, innovative and high performing games that are suitable for all global gaming markets, delivering a personalised approach, which offers operators more flexibility in their iGaming content choices to suit specific markets. This integration also ensures QTech’s array of operator partners can leverage more innovative and high-performing content to stay ahead in a competitive marketplace.
Playnetic’s portfolio has been optimised for mobile, a cornerstone of QTech’s RNG model, which is founded on its fully-owned and customised technical platform, allowing games providers and operators the fastest integration available. With over 50 years’ management experience, QTech Games’ diverse range of gaming options is designed to provide a definitive one-stop shop. While its all-inclusive licence fee model, unified game launcher and wallet integration API mean clients can easily connect and access an all-encompassing portfolio in a few clicks. This has fast-become the “go-to” solution for worldwide operators across developing territories.
Philip Doftvik, QTech Games’ CEO, said: “We will continue to add fresh content to the platform, prioritising suppliers who provide unique, localised content. Playnetic’s immersive and player-focussed gaming suite fits the bill perfectly. Their content brings a new level of energy and engagement which we’re excited to share across our ever-growing group of operators.
Kai Botha, Chief Commercial Officer at Playnetic, added: “Playnetic’s mission is to create innovative, thrilling, and high preforming premium quality games that connect with players across multiple markets. For us that means casino content that is informed by market insights, advances in game play features supported by robust technology and the latest gameplay trends.
This deal marks another significant stride in enhancing our delivery efficiency, accelerating markets access to our games to connect with even more players. We look forward to seeing our games portfolio being available through QTech’s network.”
The post QTech Games continues to move fast with Playnetic integration appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Andrew Cardno
SkyCity Expands its Strategic Partnership with Quick Custom Intelligence
Quick Custom Intelligence (QCI), a leading provider of casino operational intelligence software, announced the expansion of its strategic partnership with SkyCity Entertainment Group, New Zealand’s premier entertainment and gaming company.
SkyCity has successfully utilised QCI Slots for several years to enhance operational visibility, productivity and optimisation across its gaming floors. Building on that foundation, SkyCity is now expanding its engagement with QCI to support a more integrated, enterprise-wide view of customer and operational intelligence across its properties, product channels and services.
The expanded collaboration will introduce additional capabilities within the QCI Enterprise Platform, enabling SkyCity to consolidate data from across its ecosystem and transform it into actionable insight. It introduces enhanced tools to support customer engagement, segmentation and targeted decision-making, helping teams better understand customers, tailor experiences and respond more quickly to changing customer and operational needs. This is a key capability in an increasingly omni-channel environment.
“Our partnership with QCI has developed into a truly strategic collaboration, supporting how we integrate critical customer, product, and operational intelligence,” said Christina Katsibouba, Chief Digital & Transformation Officer at SkyCity.
“As we continue to develop our digital and omni-channel strategy, this expanded engagement reflects a shared goal to use connected data and insights to make better decisions, achieve stronger customer outcomes and create long-term value across the organization. Collaborating closely with QCI allows us to operate with greater agility today, while also shaping the future of how integrated entertainment and gaming businesses utilize intelligence at scale.”
QCI’s Enterprise Platform supports casino resorts worldwide by integrating data from across gaming, hospitality, and digital environments, delivering real-time intelligence that empowers teams to improve efficiency, enhance customer engagement and make faster, more informed decisions.
“SkyCity has been an outstanding partner and an innovative leader in the gaming industry. This expansion reflects the strong foundation we’ve built together and our shared commitment leveraging connected intelligence to drive stronger customer outcomes, support omni-channel strategies, and create a more agile and data-led operating model,” said Andrew Cardno, Co-Founder and CTO of Quick Custom Intelligence.
The continued collaboration between SkyCity Entertainment Group and QCI reflects both organisations’ commitment to innovation, customer excellence and the ongoing advancement of technology within the global gaming industry.
The post SkyCity Expands its Strategic Partnership with Quick Custom Intelligence appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Brooks Pierce
Inspired Entertainment Announces New SaaS Distribution Agreement with Playtech
Inspired Entertainment, a leading provider of B2B gaming content and systems, announced a new SaaS distribution agreement with Playtech, one of the world’s leading gambling technology companies.
Under the agreement, Inspired’s Virtual Sports portfolio, including its market-leading licensed content and U.S. sports offerings, will be distributed via Playtech’s Sportsbook platform to operators worldwide.
The SaaS solution features a cloud-hosted back-end integration with Playtech, allowing for modular delivery that can be adapted to customer needs. Inspired’s Virtual Sports portfolio provides operators with products designed to enhance engagement and drive player growth. This integration enables Playtech’s partners seamless access to Inspired’s Virtual Sports.
“This partnership represents a major milestone for Inspired. By becoming one of Playtech’s Virtual Sports partners, we can deliver our cutting-edge content to a wider global audience via one seamless integration,” said Brooks Pierce, President and CEO of Inspired.
“We are delighted to partner with Inspired Entertainment. This agreement extends our Virtual Sports offering and reaffirms Playtech’s commitment to providing innovative, engaging experiences to players across multiple regulated territories,” said Yori Arami, VP of Sports Commercial at Playtech.
This agreement combines Inspired’s innovative content and cloud-native delivery with Playtech’s established operator network, resulting in a more engaging virtual gaming experience for players.
The post Inspired Entertainment Announces New SaaS Distribution Agreement with Playtech appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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