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Fintechs in Kazakhstan Raises Concerns Over Proposed Gambling Regulation
Fintech companies in Kazakhstan are urging greater scrutiny of a proposed law intended to regulate betting transactions in the country.
The submitted legislation, currently in its final reading, would form a monopoly entity, the Unified Accounting System (UAS), the firms said in a joint press release. The UAS would be used to determine market participants, process payments, maintain a single “electronic wallet” and make settlements with clients. A critical concern is that it could charge up to 1.5% in commissions on all market transactions, within a market where regulated transactions exceed KZT1.2tn ($2.6bn) annually.
Irina Davidenko, a spokesperson for Kazakhstan’s payments industry, commented: “The proposed legislation would be a step backwards for Kazakhstan, harming competition in the country’s vital payments sector and signaling to the outside world that necessary business reform is being driven by shadowy interests, rather than what’s right for industries and consumers.”
The proposal, partly billed as a public health move against problem gambling, resembles a previous initiative, the Betting Accounting Centre (BAC). It was shelved in 2021 after a scandal involving a deputy minister who was dismissed for accepting bribes from BAC lobbyists, according to the press release.
The lack of transparency on the UAS structure and ownership as outlined in the legislation is another aspect of the change that is seen by critics as troubling.
The reintroduction of a UAS model occurred as late as the second reading of the legislation. If passed by parliament, it will become law without the comprehensive impact analysis and scrutiny typical for such significant regulatory change.
Observers argue the new regulation duplicates existing regulatory functions already managed by Kazakh state bodies and was proposed without the cooperation of the National Bank of Kazakhstan. The central bank has previously developed its own reform proposal that avoids introducing a monopolistic entity.
Opponents further contend that the regulation could cause “significant economic damage”. National Bank of Kazakhstan representatives and the payments industry have sounded alarm bells, but the issues have not been adequately addressed, the press release added.
The concerned fintech and payment companies want the legislation to be reconsidered. They are advocating for it to be sent back to the lower house of the legislature for a full regulatory impact analysis and thorough examination to ensure that it does not adversely affect industry or the economy.
Ilya Efimenko, commercial director of the payment organisation PayDala, said: “I appeal to the Senators, who need to know the true purpose of why the UAS has made a comeback in the bill.
“This is a re-emergence of the ‘Betting Accounting Center’ (BAC), a strikingly similar entity that was withdrawn before, and behind which, as the deputy from the Amanat party Elnur Beisenbayev said, are the powerful forces of ‘Old Kazakhstan.’
“Before our eyes, a monopolist, a private operator, is being created. The emergence of monopolies such as the UAS threatens the principles of a Fair Kazakhstan. Now everything is being done to break the financial system of Kazakhstan, recognized by experts as one of the best in Central Asia.”
The post Fintechs in Kazakhstan Raises Concerns Over Proposed Gambling Regulation appeared first on European Gaming Industry News.
																	
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Paysecure brings Gibraltar’s iGaming payments community together for exclusive industry event
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Paysecure, a leading provider of payment orchestration solutions for the iGaming industry, successfully hosted its exclusive event Securing Faster Payments in iGaming aboard the Sunborn Hotel in Gibraltar on 16th October.
The evening brought together senior figures from operators, technology providers, and payment networks to explore the evolution of faster, more secure payment experiences in iGaming, and what lies ahead for the sector.
With speakers from Worldpay, Mastercard, DAZN, Pretty Technical, and Paysecure, discussions centred around balancing player experience, security, and compliance in a rapidly changing landscape.
Across keynote talks and a healthy panel debate, speakers explored how technology, data, and collaboration are reshaping the future of payments in iGaming.
A recurring theme was the tension between speed and security, and how advances such as network tokenisation and smarter orchestration are allowing operators to achieve both. Attendees heard how network tokens are improving authorisation rates and trust, while also fuelling new payment experiences, such as click-to-pay, which in turn reduces cashier friction and provides a seamless player journey.
The discussion also delved into how player-centric design, behavioural analytics and the latest technological innovations are transforming the deposit journey. With more than 30% of players abandoning deposits due to checkout friction, speakers shared insights on how to define and build dynamic payment experiences, utilizing customer segmentation, intelligent routing, and rich data-insights; and further reflected on the importance of ecosystem connectivity for pushing the industry forward.
It is clear from the discussions that payments are no longer a utility, but a point of competitive advantage for operators. Payments remain a pivotal conversion moment, and a lot hinges on the experience, with players expecting to pay quickly and efficiently how, when and where they want.
Paysecure’s Chief Commercial Officer and Co-Founder, Viktoriia Degtiarova, emphasised the importance of collaboration in raising industry standards: “The Paysecure Payment Professionals event really highlighted how critical payments are to operator success. In today’s fast-moving iGaming landscape, continual innovation in payment solutions isn’t optional, it’s essential. Success relies on collaboration across the entire ecosystem, from operators and PSPs to regulators and technology partners, ensuring seamless experiences for players while driving growth for all stakeholders.”
Farish Lakhani, Corporate Sales Director at Worldpay Global SMB further shared, “Thank you to Paysecure for hosting such a well-organised event in Gibraltar and for inviting us to be part of the conversation. It was a great opportunity to share insights and collaborate on shaping the future of payments in iGaming”.
Following the success of the Gibraltar event, Paysecure Payment Professionals – The iGaming Edition will continue across other key iGaming hubs in 2026, building on the discussions and relationships formed at this inaugural event.
The post Paysecure brings Gibraltar’s iGaming payments community together for exclusive industry event appeared first on European Gaming Industry News.
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ProgressPlay to Unveil Next-Generation Sweepstakes Solution at SiGMA Europe 2025, Redefining Market Entry and Player Engagement
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ProgressPlay, a premier iGaming platform and solutions provider, has announced its prominent presence at SiGMA Europe 2025 in Rome on stand 4246, where it will spotlight its groundbreaking Sweepstakes Solution. The company is set to demonstrate how this innovative model provides operators with a compliant, high-impact pathway to captivate players in complex and emerging markets.
The event will serve as the launchpad for ProgressPlay’s most advanced sweepstakes package to date, featuring a complete suite of technological and operational tools designed for rapid market entry and sustainable growth. The solution offers a proven alternative to real-money gaming that drives exceptional player loyalty and lifetime value.
Marina Nahhas, Head of B2B Sales and Marketing at ProgressPlay, emphasised the strategic advantage the solution offers. “The global demand for engaging, compliant gaming experiences has never been higher. Our Sweepstakes Solution isn’t just an add-on; it’s a strategic master key for operators looking to unlock new revenue streams without the traditional barriers,” stated Nahhas. 
Nahhas continued: “At SiGMA, we will show partners how to seamlessly integrate this model, leveraging our robust platform and vast content library to build a vibrant and loyal player community from day one. ProgressPlay invites operators, brands, and potential partners to book a private meeting at SiGMA Europe 2025 to experience a live demonstration of the Sweepstakes Solution and explore bespoke partnership opportunities.”
ProgressPlay’s comprehensive solution includes a sweepstakes engine, a dedicated portfolio of engaging games optimised for the model, bespoke back-office management tools, and more. This end-to-end approach allows operators to focus on player acquisition and growth.
Itai Loewenstein, CEO of ProgressPlay, highlighted the solution’s role in the company’s vision for global expansion. “In an industry defined by evolution, true leadership means providing the tools for our partners to not just adapt, but to lead. Our Sweepstakes Solution is a testament to that commitment,” said Lowenstein. “We are empowering our partners to explore new frontiers with confidence and agility.”
Loewenstein concluded: “For any operator or brand looking to diversify their offerings and future-proof their business, our stand 4246 at SiGMA is a must-visit destination.”
The post ProgressPlay to Unveil Next-Generation Sweepstakes Solution at SiGMA Europe 2025, Redefining Market Entry and Player Engagement appeared first on European Gaming Industry News.
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ZettaOnline Wins “Best Payment Provider” at EiGE Awards 2025 During the European Gaming Congress in Warsaw
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ZettaOnline has been named Best Payment Provider at the EiGE Awards 2025, held during the European Gaming Congress (EGC) in Warsaw, Poland on 30-31 October.
Organized by Hipther, the awards honor excellence and innovation across the gaming and fintech ecosystem. The “Best Payment Provider” title recognizes the company that delivers secure, fast, and friction-free transaction solutions, setting new benchmarks for reliability and customer experience in iGaming.
This distinction marks ZettaOnline’s second major recognition in 2025 in the same category, reinforcing its position as a trusted fintech partner for regulated gaming operators.
“Receiving this award at such a renowned industry event is an incredible honor and a reflection of our team’s focus on strategic advancement, compliance, and client success,” said Milena Tsankarska, Chief Commercial and Marketing Officer at ZettaOnline, who accepted the award on behalf of the company.
In addition to the company’s success, Milena Tsankarska had received individual nominations in two categories: iGaming Leader of the Year, celebrating vision and leadership in the industry, and iGaming Influencer of the Year, honoring individuals whose insights and impact help shape the gaming community.
At the European Gaming Congress, Tsankarska also joined the panel “Beyond the Booth: Strategic Event Preparation in B2B PR, Marketing & BizDev,” where she discussed the evolving role of communication in a data-driven era. Her key message highlighted the importance of aligning research, audience understanding, and business goals to create marketing that resonates and drives measurable outcomes.
“We value this event because it allows us to create a network of long-term partners. It’s great to see the potential of the gaming industry showcased by a diverse range of companies and ideas,” said Tsankarska. “We’re thankful to the Hipther team for recognizing our work and for creating spaces that foster real collaboration and progress across the sector.”
ZettaOnline continues to strengthen its position within the fintech and gaming ecosystems, delivering tailored solutions that combine technology, compliance, and security across multiple regulated markets. The company’s expertise spans online payments, cyber security, cloud services, certification, IT infrastructure, software development, server and system administration, and technical compliance, ensuring every partner receives a holistic approach to operational excellence. With a focus on speed, reliability, and intelligent scalability, ZettaOnline empowers businesses to navigate complex financial and technological environments with confidence and clarity.
The post ZettaOnline Wins “Best Payment Provider” at EiGE Awards 2025 During the European Gaming Congress in Warsaw appeared first on European Gaming Industry News.
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