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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.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: How the UKGC Ban on Credit Cards Affected Payment Provider Industry and Consumer Habits
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EGT at ICE Barcelona 2025: Get ready to be stunned
EGT is prepared to make a long-lasting impression on visitors at ICE 2025, which will be held in Barcelona for the first time. The Bulgarian manufacturer of gaming equipment will showcase its compelling selection of bestsellers and high-potential new developments at one of the largest stands at the exhibition 3F30.
Among the novelties that will arouse the greatest interest will be 2 brand-new slot cabinets – 32-32 St and 32-32 Up. These models will certainly not go unnoticed by the event guests.
On display will be the newest addition to the company’s jackpot family – the 4-level Asian-themed Zhao Cai Shuang Yu. It will reveal the astonishing world of its 2 games, Prosperity Strike and Rising Coins.
The attendees will also be able to see and test the latest multigames from the Supreme Selection slot series. The Mega Supreme Fruits, Supreme Red, and Supreme Buy Bonus Prize Selection will present a lot of new slot titles, offering a perfect mix of fascinating themes, attractive bonus features, and great entertainment.
EGT will show its newest ETG developments as well. Among them will be the 32 T terminal, which will make its debut during the show. It will complement the company’s rich portfolio of ETG products, which are the preferred choice in numerous gaming venues around the world.
Expanding its offering, EGT will present the Supreme Series of game mixes, currently including the Supreme Roulette Union and Supreme Green Union multigames. Focusing exclusively on roulette, the Supreme Roulette Union blends the excitement of classic roulette gameplay with innovative jackpot systems and versatile features. Supreme Green Union combines popular games from the company’s portfolio with roulette, Keno, Baccarat, and Blackjack, offering players a unique and engaging experience.
Numerous new AWP and VLT products, created specifically for different markets, will also be at the visitors’ disposal, as well as the casino management system Spider, which will show its latest modules.
EGT Digital will also present its vast array of iGaming solutions, including instant and casino games, jackpots, and its in-house developed “all-in-one” betting platform X-Nave.
Nadia Popova, Chief Revenue Officer and VP Sales & Marketing at EGT, commented: “ICE is a very important event for us, which gives us the opportunity to meet with industry professionals from all over the world. We will welcome our current and potential new customers and partners at our stand to present them all new products from our portfolio, divided into zones, covering all gaming verticals. I believe in the positive potential of changes. That is why I think that the relocation of the show to Barcelona will open new business horizons and bring many opportunities for building fruitful partnerships, for which we as a company are ready. “
The post EGT at ICE Barcelona 2025: Get ready to be stunned appeared first on European Gaming Industry News.
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Vibra Group Completes the Acquisition of TSA
Go-to LatAm content and platform developer purchases longstanding Brazil-based tech development partner to accelerate growth plans
Vibra Group, the ‘go-to’ content and platform developer for the LatAm region, has acquired TSA, a Brazil-based technology company and one of its longest standing development partners.
The acquisition will further strengthen the award-winning company and accelerate its growth plans with 55 specialist platform development experts based in Northern Brazil.
TSA and Vibra Group have been long-term partners with TSA contributing significantly to Vibra’s technological growth. TSA, which operates under the ServiceNet brand name, also has existing contracts with several Brazilian lotteries including Loteria do Tocantins, Loteria do Maranhao, Loteria de Sergipe and Loteria da Paraíba.
The integration of TSA’s expert teams will immediately enhance Vibra’s platform development roadmap with additional resources dedicated to the Vibra Solutions business unit and will consolidate the Vibra Group’s structure across the LatAm region. The LatAm based team is focused on game studios, Remote Gaming Server (RGS), and Electronic Gaming Machines (EGM). The Brazil-based team specialising in Player Account Management (PAM) and sportsbook solutions.
Vibra’s product strategy is to service every client need delivering a complete solution on three core areas: sportsbook and casino platform with multiple levels of customization and flexibility; content aggregation platform including proprietary titles and third party games from the main brands in the industry; and a state-of-the-art EGM platform allowing operators to distribute products and content through VLT / retail terminals. The group’s 3 business divisions: Vibra Gaming, Vibra Solutions and Vibra VLT / Retail.
Ramiro Atucha, CEO, Vibra Group, said: “We’re delighted to close the acquisition of TSA and welcome the team to the Vibra family. TSA are one of our closest and most trusted partners with whom we’ve closely collaborated across several significant projects as well as ongoing development work, therefore joining forces makes perfect strategic sense.
“Our expansion and first M&A deal follows significant customer demand and growth across the LatAm region in the last 12 to 18 months so the timing is ideal. We’re very excited to have the TSA team join us as we continue our journey.”
Werter Luna, CEO, TSA, said: “We’re thrilled with the outcome of joining Ramiro and the Vibra team after having worked together for so long. The synergies were very clear and both companies know we are stronger together. The future is very bright and we’re ready to go on the ambitious plans we have to significantly grow our business.”
Founded five years ago by a management team of highly experienced industry experts with decades of land-based and online experience, Vibra has emerged as one of the most exciting and innovative content studios and software developers in the industry and rapidly grown to become the LatAm market’s ‘go-to’ partner for local and international operators.
The post Vibra Group Completes the Acquisition of TSA appeared first on European Gaming Industry News.
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GIANTX begins its 2025 LEC journey with fresh faces
The global esports organization GIANTX is ready to kick off its journey in the League of Legends EMEA Championship (LEC), Europe’s premier esports competition. With a revamped roster and a clear goal of qualifying for the 2025 Worlds in China, the team begins its campaign this Saturday with a challenging schedule.
Led by renowned coach André Guilhoto, the roster features Lot (toplaner), Closer (jungler), Jackies (midlaner), Noah (AD carry), and Jun (support). Jackies, the 2024 Rookie of the Year, returns as the only player from last year’s roster. Lot, a standout in the LFL, joins as a promising top laner. Closer, a three-time Worlds participant and North American champion, brings leadership and experience. Meanwhile, Noah and Jun, from Fnatic, aim to establish themselves as one of the best bot lanes in the LEC.
GIANTX continues to rely on advanced data analytics and statistics in building its roster. “We believe in this roster. It’s a mix of hungry, talented players and experienced individuals. This team has the potential to be a strong contender in the LEC,” said David Alonso, GIANTX’s head of esports.
The journey begins on January 18 against SK Gaming (7:30 PM), followed by Rogue (Sunday, 6:45 PM) and Karmine Corp (Monday, 9:00 PM). In the second week, GIANTX will face Movistar KOI, Team Heretics, and G2 Esports, closing the regular phase against Fnatic, BDS, and Vitality. With a demanding schedule ahead, GIANTX is set to prove it is ready to compete at the highest level.
The post GIANTX begins its 2025 LEC journey with fresh faces appeared first on European Gaming Industry News.
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