Gambling Insider: Payments Focus 2022

INSIDE

PAYMENTS FOCUS Interview: AstroPay CEO Mikael Lijtenstein Q&A: Nuvei Chief Corporate Development Officer Profiles: Sightline Payments, PayNearMe & more

SHOW ME THE MONEY

Gambling Insider delves deeper into payments in gaming, as we explore cashless, digital wallets, deposit times, cryptocurrencies, vouchers and other developing trends in this ever-growing sector

EDITOR’S LETTER

COO, EDITOR IN CHIEF Julian Perry EDITOR Tim Poole Tim.Poole@gamblinginsider.com STAFF WRITER Peter Lynch Peter.Lynch@gamblinginsider.com JUNIOR STAFF WRITER Louis Thompsett Louis.Thompsett@gamblinginsider.com LEAD DESIGNER Brendan Morrell DESIGNERS Olesya Adamska, Christian Quiling DESIGN ASSISTANTS Radostina Mihaylova, Svetlana Stoyanova, Gabriela Baleva

Julian Perry, COO, Editor in Chief

Tim Poole, Editor

When I was at the Indian Gaming Association tradeshow in Anaheim, California, the discussion panel on cashless gaming was allocated one of the smaller conference rooms. Looking back, though, the organisers should have switched it out to one of their largest arenas. As four industry veterans discussed gaming payments, a packed room digested every word, with several people even standing at the back of the room to watch.

If B2B commentators needed any more tangible proof that payments is becoming an ever-more popular and important topic in gaming, here it was, hiding in plain sight. While cashless is a huge topic in the US, there are so many other areas to discuss across the world: digital wallets, deposit times, cryptocurrencies, vouchers and, of course, cash still being king in many areas of life.

In truth, even that list barely scratches the surface, hence Gambling Insider’s inaugural Payments Focus has been born. We bring you some of the sector’s most insightful speakers over the course of this publication, discussing the latest PSD2 regulations, how payments vary across different geographical regions and much, much more.

Among our interviews, you can read the views of executives from PayNearMe, Nuvei and AstroPay, while we also get the operator POV from Betsson Group.

We then bring you full coverage of the aforementioned IGA panel, where execs from Global Payments, Sightline Payments, Axes and Flexia Payments went head-to-head.

I say head-to-head because there was some genuine disagreement – and some fiery moments. Everything a viewer wants when watching a panel live!

In our headline feature, we take a broader look at the state of payments in gaming, thanks to insight from senior figures at Trustly, Trust Payments, Neosurf and Passport Technology. Finally, as is now tradition in Focus magazines, we also bring you profiles of some of the leading companies in the industry. Read on!

MARKETING & EVENTS MANAGER Mariya Savova FINANCE AND ADMINISTRATION ASSISTANT Julia Olivan IT MANAGER Tom Powling COMMERCIAL DIRECTOR Deepak Malkani Deepak.Malkani@gamblinginsider.com Tel: +44 (0)20 7729 6279 SENIOR ACCOUNT MANAGERS Michael Juqula Michael.Juqula@gamblinginsider.com Tel: +44 (0)20 3487 0498 Martin Dilleigh Martin.Dilleigh@gamblinginsider.com Tel: +44 (0) 203 435 5628 SENIOR BUSINESS DEVELOPMENT MANAGER - U.S. Aaron Harvey Aaron.Harvey@playerspublishing.com Tel: +1 702 425 7818 ADVERTISING SALES EXECUTIVE - U.S. Ariel Greenberg ariel.greenberg@playerspublishing.com Tel: +1.702 833 9581 ACCOUNT MANAGERS William Aderele William.Aderele@gamblinginsider.com Tel: +44 (0)20 7739 2062 Clive Waite Clive.Waite@gamblinginsider.com Tel: +44 (0)20 7729 0643 Sarah Dorsett Sarah.Dorsett@gamblinginsider.com Tel: +44 (0)207 739 9918 BUSINESS DEVELOPMENT MANAGER Michelle Pugh Michelle@GlobalGamingAwards.com Tel: +44 (0)20 7739 5768 CREDIT MANAGER Rachel Voit WITH THANKS TO: Anne Hay, Leighton Webb, Mikael Lijtenstein, Neil Erlick, John Mallia, Daniel Holden, Cleve Tzung, Andrea McGeachin, Jennifer Carleton, Danica Gales, Craig Libson, Tamara Hansen, Jonathan Michaels, Christopher Justice, Earle Hall, Mike Fox Gambling Insider magazine ISSN 2043-9466 Produced and published

by Players Publishing Ltd

DANICA GALEA

Head of Payments Operations, Betsson Group

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JONATHAN MICHAELS

Senior Vice President of Development & Government Affairs, Sightline Payments

All material is strictly copyrighted and all rights reserved.

Reproduction without permission is forbidden. Every care is taken in compiling the contents of Gambling Insider but we assume no responsibility for the effects arising therefrom. The views expressed are not necessarily those of the publisher.

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CONTENTS 6 INTERVIEW: PAYNEARME

We speak with Anne Hay and Leighton Webb on iGaming deposits and more

12 INTERVIEW: ASTROPAY

AstroPay CEO Mikael Lijtenstein discusses real-time data and digital payments across the world

16 INTERVIEW: NUVEI

Nuvei’s Neil Erlick discusses Canada, North America more broadly, crypto payments within gaming and more

18 SHOW ME THE MONEY

With insight from Neosurf, Trustly, Trust Payments and Passport Technology, Peter Lynch analyses the state of payments in gaming right now

24 OPERATOR FOCUS: BETSSON

We find out what’s most important from the operator’s point of view, when it comes to payments processes and UX

25 OPERATOR FOCUS: CRYPTO

How different is the payments experience for players who gamble with cryptocurrencies?

30 IGA PANEL

Industry heavyweights from NRT Technology, Flexia Payments, Global Payments, Sightline Payments and Axes come together in Anaheim, California, to discuss cashless payments

COMPANY PROFILES

4 NUVEI 8 SIGHTLINE PAYMENTS 10 VALLETTAPAY 14 PAYNEARME 21 TRUST PAYMENTS 22 TIGER PAY 26 TRUSTLY 28 ISX FINANCIAL 34 ASTROPAY

GAMBLINGINSIDER.COM 3

COMPANY PROFILE NUVEI

In focus: Nuvei Bringing the Real-Time Payments Network to the US Gaming Industry In 2021, Nuvei was the first payments provider to bring real-time bank transfer payouts to the US gaming industry. Now Nuvei is doing it again with real-time deposits

In 2021, Nuvei was the first payments provider to solve the single biggest pain point for US gaming players by bringing true instant withdrawals to the industry. By exclusively partnering with leading financial institutions, we enabled players to withdraw funds from their gaming accounts directly to their bank accounts instantly using the Clearing House’s Real Time Payments Network. This was a huge step-change for player experience in regulated US states. Our exclusive partnership with Plaid gives us access to 11,500 banking connections and a seamless deposit and withdrawal experience, including one-click deposits and payouts for returning players.

We offer RTP network payments to all our partners in US gaming and currently 70% of all Nuvei Instant Bank Transfer payouts take place via an instant payment on the RTP network. This figure is purely limited by the players’ bank accounts not being connected to the RTP network.

THE BENEFITS OF REAL-TIME DEPOSITS And in another industry first, we recently announced that Nuvei and Fifth Third Bank had partnered to launch real time deposits as well.

Unlike traditional deposits across the ACH Network payment system, which can take days to settle, real-time deposits move from a player’s bank account to a merchant’s bank account by leveraging the Request for Payment feature available on the RTP network.

The “good funds” model reduces fraud and lowers insufficient funds risk. Operators benefit from receiving a positive confirmation status to confirm successful deposits, improving market

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credibility and trust.

Some of the differences between ACH and Real Time Payments Network include: • Time: ACH transactions can take as long as 3-5 business days to complete. With RTP payments the transaction is completed within seconds, clearing is instant and individual for every transaction.

• Revocability: ACH transactions can be stopped by the sender after the transaction has been initiated. Transactions made via the RTP network cannot.

• Confirmation status: Payments made via the RTP network are confirmed immediately once the transaction has been completed. ACH payments are not confirmed at any point.

• Availability: ACH payments are only processed during banking hours. RTP payments are processed 24/7/365.

GUARANTEED VS NON-GUARANTEED DEPOSITS Once any gaming deposit is made, the funds become immediately available to the player, despite the transaction between the player’s bank account and the operator taking time to be settled. There is therefore a risk during this lag that the transaction will be declined, which must be assumed by one party. This is the fundamental difference between guaranteed and non-guaranteed transactions.

With guaranteed transactions the liability for declines lies with the payments services provider (PSP). This may be better for operators that do not have sufficient risk management functions and want a more simplified relationship with

their payments, but the risk profile is set by the PSP and is inevitably stricter, meaning more transactions will be declined. The cost-per-acquisition (CPA) is therefore also higher, lowering the lifetime value of the average player. As the PSP also absorbs the risk, fees are also more costly per transaction.

For non-guaranteed transactions, the operator absorbs the financial consequences of accepting transfers that are subsequently declined or found to be fraudulent. However, the big advantage of non-guaranteed deposits is that each operator sets its own risk tolerance for payment acceptance. Whereas guaranteed payments is a one-size-fits-all solution for operators and necessarily strict by design, as the PSP must limit its own exposure, the non-guaranteed payments model is flexible and customisable. This enables sophisticated operators to approve more transactions, including winning more new customers. This lowers CPA cost and increases average customer lifetime value.

WHY THE RTP NETWORK ENDS THE DEBATE ON GUARANTEED VS NON-GUARANTEED DEPOSITS Deposits made via the RTP network will pull the funds from the player’s bank account immediately through to their gaming account.

This will eliminate non-sufficient declines from occurring after the transaction has been processed which account for circa. 90% of declined transactions. This all but makes the guaranteed deposit model obsolete as there simply isn’t the need to offset the risk and cope with the downside of a one-size-fits-all approach.

The benefits of this best-of-both-worlds solution where all operators have risk-free access to the non-guaranteed deposit model means it is only a matter of time before non-RTP network-powered transactions become obsolete. Being ahead of the curve instead of behind it will be critical for operators’ costs and winning players.

FEATURE INTEGRATION

A seamless service PayNearMe VP & Head of Marketing Anne Hay, and VP & General Manager Leighton Webb, discuss ways to improve payment offerings and integrate a seamless solution with an operator’s site

Anne Hay

What can you tell us about PayNearMe? How has the company evolved since it was founded?

Webb: PayNearMe started in the bill payment space, enabling people to pay bills in the retail space, at retail locations. It was in 2013 that we entered the iGaming sphere, the same year iGaming itself became regulated in three states in the US. At the time it felt like a natural extension. Then, the US market accelerated when sports betting started to become legal and US states started regulating it in 2018. It was then fitting that we took our cash offering and expanded again into electronic payments.

How can payment operators offset rising customer acquisition costs? How can an operator maximise the lifetime value of a player too?

Webb: Focusing on acquisitions, operators are currently spending a lot of money on media to acquire customers. Operators can spend upwards of $1,000 to acquire a customer or get them to download an operator’s mobile app. The crucial gap on the acquisition front is getting the player to go from downloading a sports betting mobile app to depositing money into an account – for a person to be officially “acquired.”

So this is the first point of focus for an

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operator; improving app conversion.

Secondly, concerning retention, operators need to focus on disbursements. Is the user having a positive experience? One way of thinking about acquisition and retention for an operator is to make sure you’re doing three things: Provided choice to the player. This means tender types are available that the player trusts and is familiar with when making deposits.

What’s the user experience (UI) like?

Is it streamlined and intuitive, does it make sense? Is it pixel perfect? Because every click is a chance for a player to drop off of your site.

Trust and privacy. What am I willing to share as part of the experience when I make a deposit? For example, online banking is a very popular tender type, but some players don’t want to share their usernames and password to complete a deposit. What are players comfortable with from a trust and privacy perspective? Operators need to have other tender types to drive that user and the comfortability users have.

All in all, both acquisition and retention go together for the operator. And in the US, which is still a young market, early adopters of different tender types and payment options are more willing to go through additional hurdles and complexities in that payment flow. As the market grows, expanding out to the casual player, one could argue that those players are less forgiving. They’re not going to be as tolerant of a poor UI, or not having a popular tender type available to them. Operators must understand that; which they do. What’s more important is how they address it: how they come up with a payment solution that best mirrors the payments market, as it continues to grow out towards the casual player.

What does the US iGaming experience look like today? What are players looking for in this newly regulated market?

Webb: US gaming is about having a positive experience. Approximately half of the frequent players say that a positive payment experience is the single most important element in making bets online. So, it’s a huge number, and that experience is extremely important to the player.

But half of them face an issue! Half of the frequent players face a problem when

Leighton Webb

they’re trying to sign up and complete a payment transaction.

“Operators are currently spending a lot of money on media to acquire customers. Operators can spend upwards of $1,000 to acquire a customer, or get them to download an operator’s mobile app” How important is it to integrate payments seamlessly?

Hay: Single integration helps with the seamlessness of an operator’s site. It ensures the site is seen as one product. A good payment provider lives and breathes the consumer flow of making a payment. The operator shouldn’t have to worry about their payment solution at all, and instead be far more focused on their content solutions etc.

The UI project of finding the easiest way to guide a player to make a deposit or withdrawal should be up to folks like us, who live and breathe payments every day.

COMPANY PROFILE SIGHTLINE PAYMENTS

In focus: Sightline Payments Regulator Involvement is the First Step

By Jennifer Carleton, Chief Legal Officer, Sightline Payments I was recently invited to speak to a group of state and tribal gaming regulators about cryptocurrency and its role in the payments industry. As we talked through “gas” and “mining,” I was struck by the parallels between cryptocurrencies and casino loyalty programs.

Loyalty points are essentially bitcoin by another name.

Decades ago, gaming regulators educated themselves about loyalty programs and how a casino operator manages these systems to incentivise players. These programs are now well regulated, monitored and accounted for worldwide. There’s no reason why the utilisation of cryptocurrency for regulated gaming in the US can’t be similarly embraced by the industry.

Gambling with cryptocurrency, like most innovations, has both opportunities and challenges. The pros – transactions occur rapidly, including immediate withdrawal and/or deposit; transactions are not reversible, meaning there are no chargebacks; and few overhead fees. The cons – transactions can still be relatively anonymous and crypto currency values are highly volatile.

There’s no doubt that players are interested in crypto as a payments option. According to the American Gaming Association (AGA), 5% of all casino visitors would be interested in using cryptocurrency as a funding method, rising to 10% of all frequent customers and going even higher with 20% of all high- frequency and high-spending customers.

Casino patrons’ expectations are clearly evolving, and the industry must evolve with them. For cryptocurrency to be considered a legitimate payment option in regulated gaming, stakeholders must engage with gaming regulators, as well as state banking oversight bodies.

The more proactive and forward-thinking

Jennifer Carleton

gaming regulators have a “bring it on” mentality — they’re ready for crypto’s integration into the gaming industry.

The Colorado Division of Gaming and the Wyoming Gaming Commission are great examples. They have supported and passed legislation allowing crypto payments platforms to engage with regulated gaming and promulgated rules to enable acceptance.

Wyoming signed House Bill 133 into law last year, recognising crypto as an approved

“According to the AGA, 5% of all casino visitors would be interested in using crypto as funding” 8 GAMBLINGINSIDER.COM

asset convertible to cash for online sports betting – becoming the first state in the US to allow cryptocurrency as a funding method for sports betting accounts. Likewise, Colorado’s Governor recently announced that the Centennial State is poised to accept tax payments in crypto.

There is also a sizeable group of regulators right behind Wyoming and Colorado, those willing to be innovators and embrace emerging gaming technologies. These state regulators generally consider crypto a prospective payment method with potential. Nevada fits this category well. The Nevada Gaming Control Board has adopted a cautious approach to non-fiat currencies. During a recent Joint Interim Standing Committee on Revenue hearing, Nevada Gaming Control Board Chairman Brin Gibson encouraged the gaming industry to bring its proposals forward for discussion and review.

Without a federal framework around crypto and its status as legal tender, Nevada and other state regulators are taking a conservative approach.

All of this certainly reinforces the need for federal guidelines, and the Biden Administration’s Executive Order compelling federal agencies to research the topic was a welcome step. Pay close attention to any legislation introduced by Senators Lummis and Gillibrand, who have been leading behind-the -scenes discussions on a federal framework.

Federal guidance would provide much-needed clarity on the appropriate use of cryptocurrency for gaming and create a more robust domestic environment for legal, regulated crypto gaming.

One of the major challenges with current cryptocurrency exchanges and providers is that they are not US-based, and, as such, may not necessarily adhere to US anti-money laundering policies and US banking laws.

Overall, the one common thread among regulators is a desire to embrace best practices for gaming and the protection of our patrons.

Just like the introduction of loyalty programs and digital payments within casinos, I’m confident that cryptocurrency will meet with the same reaction from gaming’s regulatory bodies — with some healthy skepticism and a willingness to learn more.

COMPANY PROFILE VALLETTAPAY

In focus: VallettaPay VallettaPay is a leading payment services solution for online businesses.

We are the solution for making and receiving international payments. As a licensed firm, we provide your business with a bank account.

As the business world continues to shrink and more deals are transacted across borders, more and more businesses must learn how to send and receive payments internationally.

While it may seem easy just to use your current banking system, it could also put your accounting teams in a situation where they are constantly trying to track and reconcile payments. Not to mention, you could be waiting for a much-needed payment as it makes its way through a cumbersome process.

All our clients get a dedicated IBAN account for convenient and straightforward payments.

VallettaPay offers multi-currency payments for businesses and individuals across the world.

We guarantee a simple and straightforward onboarding procedure.

“It’s one account for all the markets you operate in, independent of the currency of the transactions” EFFICIENT For businesses looking to make their current international trade practices more efficient or for those looking to break into a new market, streamlined cross-border payments can be a beneficial place to start.

We help you to make seamless SEPA transfers by using your dedicated IBAN. At VallettaPay, you can send money instantly between VallettaPay accounts and transfer funds internationally with SWIFT. You can also save and schedule transfers.

CONVENIENT & PRACTICAL Our team is dedicated to delivering the best possible experience for our partners and

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customers. We know that a happy team is one that performs at the highest level. Our team ethos encourages mutual support, respect, recognition and reward.

All client funds are held in segregated accounts and capital against each transaction processed.

Transactions are screened against all international sanction lists.

As a licensed & regulated Payment Institution, VallettaPay is trusted by international banks and regulators worldwide.

All payments within the Single European Payment Area go on the same business day.

TECHNOLOGICAL We utilise numerous levels of physical, logical and software security controls.

This allows secure online communications between us, while protecting your information.

Privacy is considered in all aspects of our business.

TRANSPARENCY Transparency is important when it comes to payments between one business and

another, but even more important when it comes to creating an ecosystem for multiple partners. In global enterprises, where separate businesses and sub-brands all merge into a single system, being able to move money easily, accurately, and transparently within that system is vital for basic day-to-day operations.

The transparency embedded within these new processes is the glue that holds them all together. When we know what’s happening with our money, trust builds and questions don’t get asked, saving time and money for all stakeholders.

All the prices and tariffs are presented in a clear and straightforward way without any hidden fees.

MAKE IT HAPPEN Apply online for your dedicated IBAN at www.vallettapay.com.

It’s one account for all the markets you operate in, independent of the currency of the transactions.

Accept, secure and redistribute funds your own way. Make it happen thanks to VallettaPay.

FEATURE GROWTH & DEVELOPMENT

Keeping up with evolution AstroPay CEO Mikael Lijtenstein explains how payments have evolved in recent times, as well as delving into the latest trends and technologies within the industry How has the payments industry evolved in the last 5-10 years?

In the last five years, and with the pandemic in the middle, the payments industry has evolved a lot, and technology has helped that to happen. I believe we have seen an acceleration of people becoming digital-first.

People used to go to a store to pay for some things; and from one day to another, they needed to change their daily routine to start

paying from their homes, to start paying from their phones, to start paying in a different way. So for sure, the payment industry and FinTech needed to evolve to support that acceleration. We started seeing an increase in the number of digital wallets; more digital wallets in terms of users, and different and new options for users all over the world.

Because of that, AstroPay upgraded and we developed our own digital wallet.

We started many years ago as a prepaid voucher, and with this acceleration and the evolution of the sector, we decided to develop our own digital wallet. We went live in 2020 when the pandemic started. We’re very happy and we have a lot of users all over the world.

Security has always been an important issue when it comes to payments. How can security be tightened?

Users are always looking for a solution they can trust. They look for payment options that are secure and, in terms of a digital wallet, one they can trust and be safe with their money.

We have identity validation, for example, where the user needs to take a selfie and upload the documents so we can be sure the user that is loading the money is the same that is using their wallet.

We also study in depth the different behaviours and patterns of users, so we know the

Mikael Lijtenstein

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user from the first moment to the last moment they are in the wallet. We have our own cybersecurity team dedicated to that.

How much potential do you see for payments in the gaming industry?

The gaming industry has also evolved over the last few years, so it’s key to have payments companies to support gaming companies and accompany them. Here it’s very important to talk about the user, because the user is the one who wants to load the money as fast as possible, who wants it to be instant. So in that way, the payments companies need to support the trend and the evolution of the sector.

We need to be dynamic and agile, to support what we are seeing and to change every day. From our side, we encourage the team to move fast, to iterate and to test things so we can be at the top of what is happening today. Merchants and users are both looking for better solutions every day, so we need to provide them with easier solutions, with fewer steps and a better user experience.

Given AstroPay works in many different regions across the world, how does the company stay on top of changing regulations?

We have a very good team, a very professional team being very proactive. We process all over the world, and have different situations in Latin America, Europe, Asia, Africa. So we have teams all over the world, like the UK, Kenya, India, Brazil, that are available to be proactive to work on this; and have the initiative to understand the changes and be ahead of them, so we can be compliant.

AstroPay has previously spoken to Gambling Insider about targeting the LatAm region. How has the region been developing in recent times?

We started in Brazil many years ago, so we know Brazil very well. Now we’re focusing on growing in other markets like Colombia, Peru, Mexico, we know

GROWTH & DEVELOPMENT FEATURE

“Users are always looking for a solution they can trust. They look for payment options that are secure and, in terms of a digital wallet, one they can trust and be safe with their money” they are evolving too. It’s important to have a good solution for them; we know that there is a good mobile penetration. Many people are looking for digital solutions, so we are seeing more payment links, QR codes, mobile payments. It’s important to be ahead of that to understand what is happening, to bringthat experience and knowledge to our company, so we can provide better products for merchants, and better products and service for the users.

What are the latest trends or new technologies in the payments industry?

For sure: digital wallets. We have updated our product from the voucher to the digital wallet.

For this, we try to be as close as we can to the user, to hear their feedback, to see what they are seeing and what they are looking for.

Today we have younger generations, more millennials attached to apps, to their mobile; so they are looking for instant payment journeys, instant payment flows, fewer steps.

Also the user experience, it’s a challenge and it’s very important here because, as I mentioned, users are looking for an easy and simple payment method.

And what are AstroPay’s goals for 2022 and beyond?

We are focused on growing a lot. We have been growing in the last years and we want to keep continuing on that path, the continual expansion that we’re having over the world in different markets: in Latin America, Asia, Africa, Europe. We launched in Europe some months ago, so we are focusing on it too.

In Europe specifically, we’re focusing on the countries that we started in, because we launched recently. This needs a lot of hard work to understand, to iterate, to improve the product, so we’re still focusing on the UK, Spain and Portugal; the ones we started in. But we will keep conquering the other markets, we want to be everywhere. It’s a path we need to follow.

Today we have more than six million users, more than 1,000 merchants that we are partnering with, and we are offering more than 200 payment method solutions. So we will continue the path of knowing what the merchants and the users are looking for, to provide them with the best solution we can.

We’ve also done some sponsorships and are going to have more. We will continue on the path of being in the Premier League as a brand image; we know that it’s important for those fans. And there are also new things that will be coming in the next season.

There is also the 2022 World Cup coming up, and South America is of course a huge region for football.

How excited are you for the tournament?

From my side, Uruguay will be there, so I’m very happy; perhaps we can get something.

But yeah, it’s a World Cup, it’s great. It’s in November, so we have a lot of things to do before that, but we are positive.

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COMPANY PROFILE PAYNEARME

In focus: MoneyLine

Powered by PayNearMe The payments ecosystem in the online betting space is fragmented and complex. Operators often rely on an array of point solutions, each solving a specific challenge but falling short on offering a connected, seamless experience.

This makes it cumbersome for large operators to innovate, while making it difficult for up-and-coming operators to get to market quickly.

MoneyLine™, powered by PayNearMe, makes the payment experience easy for operators and players — all in a single, powerful platform. It was built off the backbone of the most successful cash payment solution in the industry, trusted by nine of the 10 largest US iGaming operators and 16 of the top 17 largest online casinos in the US. Today, the platform offers major tender types available to operators, including cards, ACH, Apple Pay, Google Pay, PayPal, Venmo and cash at retail.

The MoneyLine platform solves the complexities of end-to-end money movement, seamlessly combining capabilities for gateway, deposits, payouts, cashiering, cash-at-cage, analytics and financial operations. Operators can provide their players with a frictionless payments experience, while getting to market quickly and reducing the total cost of payments. For both new and established operators, MoneyLine is the most efficient way to take advantage of all that a next-gen payments provider has to offer in a single,

scalable platform.

With MoneyLine, operators can manage the full payment journey, from the initial deposit, payouts and repeat deposits, through to settlement and management of funds, to optimise the player experience across every

“The MoneyLine platform solves the complexities of end-to-end money movement, seamlessly combining capabilities for gateway, deposits, payouts, cashiering, cash-at-cage, analytics and financial operations” touchpoint. New payment types and other features can be added with ease, allowing operators to deliver purpose-built experiences that meet the needs of players today and in the future. Operators can leverage MoneyLine to address a number of payments needs, including: • Solving for tech debt: The MoneyLine platform gives operators a way to consolidate major deposit and withdrawal types into a single platform. Doing so

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eliminates the need to manage multiple integrations, allowing operators to simplify payment management and reconciliation, as well as reduce technical overhead. It also provides a way to quickly add new tender types without going through a lengthy evaluation, selection and implementation process in the future.

• Getting to market fast: Whether you are a new entrant, or an existing operator launching in new states, it’s important to be able to get to market fast. MoneyLine offers everything needed to deploy payments quickly, freeing up operators to focus on other launch priorities.

• Innovation as a differentiator: To stand out in a crowded market, operators must ensure their payment platform offers all major payment options for deposits and payouts, all in a consistent, easy-to-use experience.

MoneyLine provides a way to offer major tender types and create a best-in-class payment experience for players with unique features, such as the ability to withdraw funds in cash at participating ATMs. • Future-proofing the payments roadmap: Continuing to evolve by offering modern deposit options (such as PayPal and

Venmo) to the cashier is a must. But many operators simply don’t have the bandwidth, scale or direct integrations to do so. With MoneyLine, operators can connect to an existing ecosystem that allows them to quickly add new tender types, without developing multiple direct relationships with different payment vendors.

To see MoneyLine, powered by PayNearMe, in action, visit paynearme.com/ moneyline/ or email sales@paynearme.com.

FEATURE TAILORED SOLUTIONS

Nuanced markets Nuvei Chief Corporate Development Officer Neil Erlick lays out the hurdles to overcome when tailoring payment solutions to operators across different jurisdictions, while detailing the latest advancements in the industry Being a Canadian company, how has Nuvei reacted to Ontario’s newly regulated online gaming market?

The launch on 4 April was a long time coming. As a Canadian-founded company, being ready to support the operators once the regulated market arrived on 4 April was very important to us. We only work in regulated gaming markets all over the world and have been doing so for close to two decades. Ontario for us, although important – given our nature as a Canadian company and despite having a large presence around the world – was really one more jurisdiction for us to go

“One of the benefits Nuvei can provide is every service we offer is available á la carte.

We don’t offer a solution in a box and say ‘we hope you like it’” into. Being able to leverage all of our experience, built up over nearly two decades where we’ve worked in regulated markets around the world, gave a lot of comfort to the operators that are now launching for the first time as a regulated entity in Ontario. For us, we take a lot of pride in the fact that we launched with many of the largest operators today; BetMGM, FanDuel and theScore Bet to name a few. A lot of the top players that launched in Ontario selected Nuvei to process payments.

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Neil Erlick

TAILORED SOLUTIONS FEATURE

What are some of the challenges associated with delivering both fiat and crypto solutions to an operator?

The answer is the same for both. On the fiat side, it really depends on the jurisdiction itself. Through a single integration, a single platform, we have cultivated over 550 alternative payment methods that our clients can connect to. Our platform is available in nearly 200 countries and over 150 currencies.

This is important because, if you think about acceptance from fiat regulations, things can be very different depending on whether you’re in the UK, US, Canada, Brazil, Colombia – or any other country. You should be able to offer the consumer the exact means by which they want to pay. Of course, payment options should be in a safe, secure environment and be delivered promptly; not only in terms of paying into an account but paying out too.

People want to get paid; if they’re winning, they want their money back and they want it as quickly as possible.

On the crypto side, however, we’ve taken a slightly different approach. It’s a newer technology, a 21st century technology – so we’re taking the necessary steps in preparing for when crypto is a widely accepted means of payment in gaming. Looking across the board, from a regulatory perspective, crypto acceptance is not permitted. You cannot use crypto as a valid payment option with a gaming operator in North America today. We’ve been preparing and now have the ability when regulations change to implement crypto. As part of our integrated portfolio, our merchants could accept over 40 different crypto options today, it’s just that not all of them can. So we’re ready for when regulations change, to be there for our clients.

How do you adapt your platform to different operators? Do you tailor a bespoke service to each operator, or provide the same toolbox in which an operator can pick and choose what they’d like for their payment solution?

One of the benefits we feel Nuvei can provide is that every service we offer is available á la carte. We don’t offer a solution in a box and say “we hope you like it.” In fact, every solution we have is specifically tailored for a certain merchant or operator. I would say, around the world, no one solution is identical between operators. We merely adapt to the needs of the merchant and ensure we’re there to support them.

They can use all or part of our service, in one jurisdiction or many. Being able to customise on behalf of the operator is a key selling point.

Similarly, how must you adapt your offering to different regulated jurisdictions?

Every regulated market is different. It’s important again here to be able to adapt, to be nimble. Looking at the US alone there is no central, federal set of rules and regulations, it’s on a state-by-state basis; it depends on state law. Several states have rules and regulations related to payments specifically. Such laws include the number of credit cards allowed; some states allow them and others don’t.

In certain states, money that comes into an account has to come out the same way that it was deposited. So, being able to adapt your cashier, being able to adapt the service you’ve offered to the operators, to ensure they remain compliant is key. And that’s just in one country; things can be entirely different in other worldwide jurisdictions. It’s crucial to stay on top of that and create a seamless solution for all your clients.

“Loyalty at casinos has been at the genesis of the casino industry for so long” What two jurisdictions could you say are the complete polar opposite of one another, in terms of payments regulation? Or are they all so different it’s impossible to discern two distinctly different markets?

There really are a lot of differences between jurisdictions. It gets even more complicated when payment regulations get introduced.

Market acceptance rates, consumer preferences and our ability, legally, to support that, all come into play. From a regulatory perspective, when Vegas first came online years ago you couldn’t use your credit card.

In New Jersey, however, you could. So that’s one example of change and a historic difference between markets. Furthermore, certain issuing banks will approve consumers to use their debit cards, but not their credit cards – that’s aside from any legislation.

That’s more of a payment acceptance issue between a consumer and their bank, but it gives an example of just some of the many nuances between jurisdictions and even outside of jurisdictions. From our perspective, it’s really about supporting our merchants and their customers, and making sure we provide the best service possible.

Can you see any advantage for an operator in using a closed-loop payment system, one with high rewards and loyalty, over a more typically used open-loop system?

I think there are pros and cons to each. But, at the end of the day, when an operator comes to us wanting an open-loop system, that’s something we’re going to provide. If a client wanted a closed-loop system, that’s something we could help them with as well. For Nuvei it’s about supporting the needs of the client, regardless of what those payments needs are.

I think with loyalty programmes, this becomes very important when seeing a convergence between land-based operations and the online space. Loyalty at casinos – the real brick -and-mortar sites – has been at the genesis of the casino industry for so long. The question these casino operators have is how best to transfer these loyalty programmes into the online space when expanding into iGaming and online sports betting. Will people follow casino operators online with their loyalty programmes? For us, it’s about supporting the merchants in whatever they choose to do. We never push a solution, but support an operator’s choice.

You’ve recently introduced real-time deposits (RTP) to your portfolio of solutions. How does this instant bank transfer system advance your offering?

Consumers want everything now. Not just in gaming, but in life in general. We’re in this world now in 2022 where everyone wants instant gratification; people want everything as fast as possible. Nuvei was the first group in North America to launch RTP for withdrawals from operator accounts. Traditionally, when a consumer requests the money back to their bank account through automated clearing house (ACH) systems, it would probably take between eight and 72 hours for your money to return to you. The time in which your money would be returned to you was dependent on your bank, actually. Most people were unaware of this difference in return times between banks, and most people that withdraw their money from an operator still withdraw through an ACH system.

So we’re the first group to develop RTP in North America for gaming payouts. This system has been an incredible success so far for operators that have opted in. When you think about it from a consumer’s standpoint, when you ask the operator for your money and they send it to you, you get it instantly in your bank account. What we’ve also done is become the first to supply RTP for deposits too. Consumers can now get money in and out of their account with an operator in seconds. This technology is really innovative and extremely game-changing for North American markets.

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FEATURE PAYMENTS

Show me the money Passport Technology, Trustly, Trust Payments and Neosurf offer the latest insight into the ever-changing world of payments in gaming, in conversation with Peter Lynch different types, factors, players – and several other issues – that ensure much diversity across the sector.

Daniel Holden

With the payments industry growing in both significance and stature, Gambling Insider hears from Passport Technology CEO Cleve Tzung, Trustly Director of Gaming John Mallia, Trust Payments Group CEO Daniel Holden, and Neosurf COO Andrea McGeachin, with the payments experts delving further into the latest issues and challenges facing this crucial aspect of the gaming industry.

As ever, security is a crucial aspect of the payments sector, and many companies are now having to accommodate the recently introduced PSD2. Other companies, meanwhile, have an eye on the future, and any new challenges and trends it will bring. But all companies, of course, are living in the here and now, with payments witnessing plenty of change in just a short space of time.

Payments certainly isn’t as simple a topic as one may imagine. There are many

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PAYMENT TYPES Passport Technology’s Tzung breaks payments down from a brick-and-mortar and online perspective, explaining that, in 2022 “consumers tend to gravitate towards using whatever is easiest and fastest.” He notes that cash is still king in brick-and-mortar casinos, saying that “regulatory and technology challenges with digital wallets have created enough confusion and hurdles to be a real barrier to brick-and -mortar adoption, so consumers have mainly continued to access cash through kiosks.”

Neosurf, on the other hand, focuses on prepaid vouchers. McGeachin told Gambling Insider that prepaid vouchers for gaming is far from dead, before saying that “in establishing brand loyalty, understanding consumer preferences is paramount.”

This method, as she suggested, provides players with the ability to control spend through limitations, allowing both spend

PAYMENTS FEATURE

management and helping any players who prefer to maintain discretion around their gaming spend.

HOW HAVE PAYMENTS EVOLVED? According to Trust Payments Group CEO Holden, digital commerce has jumped ahead five years in one due to the interruption from Covid-19. He explained the changes that have been witnessed within payments post-pandemic are here to stay, warning that businesses have to adapt their old, archaic systems to support this ‘digital leap.’ Even established players, Holden suggested, struggle to constantly keep up and innovate in such a fast-changing and volatile environment.

He believes that two fundamental behaviour shifts have taken place over the

past two years; “Expectations have risen and acceptance levels of digital services across generations have followed suit. No one wants to wait in the queue in gaming anymore, and self-checkout has become the norm.”

He added that businesses require the infrastructure to support such digitisation, noting that there are companies within the industry that can provide tech to make it easier for gaming businesses to be empowered by data, to ensure driving loyalty and increasing the lifetime value of their customers.

Again focusing on both online and brickand-mortar casinos, in terms of evolution over the years, Tzung explained that the former has benefitted greatly from the increase in sports betting adoption and acceptability in various states; while the latter has focused more on automation and pushing more traffic away from the cage to the kiosk.

For Neosurf COO McGeachin, several factors come into play when explaining the evolution of this crucial aspect of gaming.

She explained that the reality is the payments ecosystem has evolved in parallel with online and digital innovations, along with the consumer and regulatory demands that have accompanied them.

“It’s easy to take ‘payments’ for granted,” she began.

“Almost as a given that whatever the product or service there will be a functional means of settling. But without that functional means the world would revert back to barter, and markets as we know them would disappear.”

McGeachin continued by suggesting that all payment solutions must now address the same issues; which range from security, compliance and speed, to convenience and personality.

Players demand the likes of privacy, security, speed and as few steps as possible, while the regulator has heightened addressing compliance with player protection and money laundering protocols. “These two factors are absolute prerequisites and all payment solution providers operate now on a broadly level playing field,” she added.

“It is true that our only constant in payments is change, being smart and always focusing

Cleve Tzung

on conversions and the players, and adding the latest nuance to a country or territory regulator’s new format of control then has its place and can be delivered easier.”

PAYMENTS COMPANIES PREPARED FOR PSD2 As is the case with many verticals and areas of the wider gambling industry, security is important as ever. Rules and regulations are increasingly talked about, particularly when it comes to issues like responsible gambling and player welfare. As the sector evolves, so does the security within and around it.

Payments is another area within gambling where security is hugely important, with all involved in this specific aspect forced to pay close consideration to payment security, to avoid any unnecessary troubles or challenges.

Both Mallia and Holden agree that the Revised Payment Services Directive (PSD2) – an EU Directive that is administered by the European Commission to regulate payment services and payment service providers – is one area of payment security that has taken on particular significance in recent times.

Commenting on this issue, Trustly’s Mallia told Gambling Insider that in terms of the evolution of digital account-to-account payments, the “Second Payment Service Directive (PSD2) accelerated the UK gaming payment landscape, requiring banks to open up APIs to third-party providers. This change has led to a better and more reliable product.”

Focusing specifically on Open Banking, he explained that users can now make deposits and withdrawals in a few simple steps, including through authentication

GAMBLINGINSIDER.COM 19

FEATURE PAYMENTS

data and fraud management are critical to mitigate these eventualities, and businesses have a responsibility to create a safe and regulated payment environment for their customers.”

Companies can offer advanced fraud prevention tools to monitor customer behaviour and to prevent fraudulent activity, as well as blocking jurisdictions or card types where gambling is illegal or unregulated.

The merchant, therefore, needn’t worry; with payments companies able to take care of it should they focus time and effort on this specific area.

John Mallia

methods like finger ID. This, coupled with “the fact that smartphone technology has dramatically evolved in recent years and that most transactions now take place in a user’s palm rather than on desktop,” means Open Banking has enabled a “far more seamless payment option for users.”

For Holden, the new PSD2 has had a big impact on Trust Payments, allowing the group to help merchants in tackling the substantial increase in online fraud, a figure that he explained climbed 66% between 2011 and 2016. It has also allowed the company to educate merchants on the rise of the API economy, “making systems easier to talk to each other with a huge impact on banking.”

Holden continued by explaining that PSD2 provides both standards and structure to allow companies to access customer bank accounts.

Delving into the rules and regulations further, he noted that “Strong Customer Authentication (SCA) is a requirement of the EU PSD2 mandate, where all electronic commerce payments are performed with multi-factor authentication, to increase security of the transactions and help prevent fraudulent use of payment cards.” Notably, Holden added, several issuers have been actively soft declining transitions that have failed to include SCA, as this process has been introduced.

“The industry still needs to understand the implications of a lack of SCA under PSD2 – with the potential loss of the ability to shift liability to the card issuer for ‘attempts,’” said Holden. Trust Payments has been actively educating its customers on this specific issue, and will continue to do so in the near future.

Holden also mentioned that there are ways in which payments companies can ensure gaming payments remain risk-free, explaining that essential solutions are optimised for user experience and are simple to deploy: “Strong

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to the introduction of Secure Customer Authentication and the credit card ban for gaming, account-to-account payments are fast growing in popularity. With the UK gaming market being a traditionally card-oriented market, it’ll take time for the balance to be truly tipped.”

But with frictionless authentication methods built in, lower costs for operators and customers along with simpler affordability checks, he noted, it is “only a matter of time before account-to-account payments become the dominant choice and cards become a thing of the past.” Mallia added that the rate at

“It’s only a matter of time before account-to-account payments become the dominant choice and cards become a thing of the past” - John Mallia ONE EYE ON THE FUTURE For Trustly’s Mallia, Open Banking is the future. He believes the fact it continues to gain traction is evidence enough to suggest this is where the industry is heading, and indeed what users want. “The industry will keep changing with the evolution of technologies, resulting in better user experiences for the users and additional features,” suggested Mallia. “What won’t change is the users’ needs for ever-more reliable, fast and seamless user experiences.”

Passport Technology’s Tzung, meanwhile, believes it will be easier access to cash on the casino floor that drives the evolution of payments. In short, this means more transactions will move away from the cage, including additional integrations with mobile phone capabilities, such as facial recognition.

“We’ll see some innovation around ATM processing that will create opportunities for surge pricing and tier-based pricing,” added Tzung. “Integration with loyalty will be a major change that creates possibilities for behavioural shifts and an alternate currency based on a casino’s loyalty points.”

Of course, one major talking point that continues to rear its head when it comes to the future of payments is the shift to a cardless society. Perhaps it is a question of when, rather than if. Different industries will certainly have different stances on this particular issue, while the country/region in question – and its rules and regulations – will also be a major factor.

When asked by Gambling Insider if the gaming industry in particular can expect a complete shift to a cardless society, Trustly Director of Gaming Mallia replied: “Due

which this change will occur will also continue to accelerate.

For Neosurf’s McGeachin, however, cash does still have a role to play, but is now a choice factor. “As such,” she continued, “cash competes with digital solutions and as generations pass, it becomes less relevant.

“Though it could be said that it has no place in the online world, and frequently lacks speed and convenience, it fulfils an important role in communities who struggle to access the digital offerings, and/or continue to prefer cash.”

Thanks to increasingly efficient assessment tools, though, access to digital is easing and compliant conversions are increasing. The future is bright.

Gaming is changing – and so too payments with it.

Andrea McGeachin

TRUST PAYMENTS COMPANY PROFILE

In focus: Trust Payments Are you playing to win? Trust Payments makes sure you always are… low- we help you get set up so that you can focus on the stuff that matters.

What’s more, we help you to mitigate the risks you incur as a gaming merchant.

Increasing fraud and chargebacks will always be a challenge for gaming operators due to fraudster threats, which can in turn result in reputational damage and large costs for you.

With this in mind, we’ve created advanced fraud prevention tools to monitor consumer behaviour and prevent fraudulent activity.

We have internal risk, fraud, and chargebacks teams to manage our individual clients, identify current risks and patterns and provide comprehensive support to our merchants in managing their fraud and chargebacks ratios. We also support 3D Secure version 2.2 to provide the latest Secure Customer Authentication for further protection against fraud and chargebacks.

Accelerate your local and global presence, customer playing experience, and drive greater conversions with Trust Payments’ secure industry-leading pay-in and pay-out frictionless platform.

WHY US? If you want to get the most out of your payments platform, then Trust Payments is the provider for you!Instant deposits, withdrawals – our pay-in and pay-out solution will keep your players ahead of the game and give you the upper hand on competitors.

We understand that in online gaming, every hour matters. Unlike traditional retail, your players will be active around the clock, which is why our global 24/7 support will be there to help with whatever you need, whenever you need it.

On top of this, our dedicated account management team will tailor your experience to your needs. Don’t want ageneric, one size fits all service? Then enjoy one tailored by an acquirer with 15 years of experience working with high-risk gaming firms, well-equipped to help you navigate the tricky world of gambling regulations all over the globe.

ALL OVER THE GLOBE? With 11 offices all around the world, when we say global, we mean it. Our team can help you wherever you operate, as well as enable youto expand into new markets.

Our gateway supports multiple languages, with the majority of European countries catered for.This helps you drive conversions by making customers feel more comfortable at the checkout. If that’s not enough, our platform also allows you to accept over 50 processing currencies, as well as a range of alternative payment methods, so you can support your customers no matter where they’re from.

We’re Financial Conduct Authority(FCA) licensed in the UK and hold a Malta Financial Services Authority(MFSA) Acquiring license in Malta, giving us full access to both the UK and EU markets. On top of this, we also hold gambling licenses in 6 US States.Thanks to the established presence of our knowledgeable and dedicated team in all three markets, we are uniquely well-positioned to understand your current customers, as well as prospective ones.

WHAT DO WE KNOW ABOUT GAMING? Quite a bit, actually. With gaming’s status as ‘high-risk’ for many major banks, we know that getting an acquirer on board can be difficult- in some cases, this has become so bad that providers have even been terminating or suspending their existing client accounts, purely due to their status as gaming merchants. That’s why our approval rates are so high, and our onboarding times are so

“On top of this, our dedicated account management team will tailor your experience to your needs” As if this weren’t enough, merchants have also had to deal with regulations that are continually evolving and changing. With changes such as the UK Gambling Commission’s decision to ban credit cards for gambling payments jeopardising merchants’ ability to comply, the importance of having a payments platform that is up to date with local legal requirements is clear.

We also offer relationships and integrations with a range of relevant service providers and platforms such as Visa Verify, Mastercard Ethoca and Chargebacks911 to identify and eliminate Chargebacks earlier and at source.

IN SUMMARY It’s simple- gaming merchants trust us.

That’s why of the £56 billion we process annually; gaming makes up over 20%. With Trust Payments, you gain access to a truly global payments platform that will support you and your customers the whole way- You can trust us on that. Learn more – www.trustpayments.com.

GAMBLINGINSIDER.COM 21

COMPANY PROFILE TIGER PAY

In focus: Tiger Pay

“At Tiger Pay, we rely on healthy relationships with Japan-based online casinos. Many major online operators have integrated our solutions, and more and more are queuing up”

One such option is our “quick deposit service” via PayEasy, a popular fast payment method in Japan.

Another can be found in the form of our dedicated customer service. Our CS operators are all native Japanese speakers who can attend to any customer issues in a strictly professional and polite manner.

At Tiger Pay, we rely on healthy relationships with Japan-based online casinos. Many major online operators have integrated our solutions, and more and more are queuing up. Integrating Additionally, there is an option to obtain a Tiger Pay into your website, as an operator, will Tiger Pay is relatively new in the vast e-wallet Tiger Pay prepaid card. It is your own Tiger allow you to reach our wallet users; all of whom market, having only launched in 2020. would align with your target demographic.

With some unique features and characteristics, Pay prepaid card which supports JPY and Finally, Tiger Pay provides marketing support it has rapidly become one of the most preferred USD, and you can use it in stores and withdraw from ATMs. Needless to say, many Japanese services. These include mail/newsletters for e-wallets in Japan. our users, unique bonus campaigns exclusively Tiger Pay is specially designed to work in customers like this feature for its convenience.

Moreover, Tiger Pay is making its e-wallet available for our users, in-site and in-wallet this industry, attracting operators across the banners etc. globe trying to penetrate the highly competitive more practical for customers; it’s made by Japanese people for Japanese people.

Moreover, Tiger Pay is part of “Tiger Japanese market.

Like any other successful high-end service Solutions,” which provides 360 degrees services Tiger Pay offers a fast, easy and secure service.

Signing up and opening an account with us takes provider, we prioritise the preferences of Japanese for any newcomers into Japan market (e.g., customers over internal operational objectives. marketing, games, compliance, ads, SEO, etc), only a few minutes.

Japanese customers can often be very so a synergy between these services would assure Furthermore, we provide a wide range of you get ahead of competition in Japan. convenient deposit and withdrawal methods and particular when choosing the right services for them. For instance, we’ve learnt that, in many It’s clear Tiger Pay is the payment solution work under a Georgian financial licence. you need if you want to create a success story in There are also in-wallet exchange services at cases, Japanese customers prefer to make their the Japanese market.

Tiger Pay, meaning one can convert between transactions in cash because they do not want Our team is ready to answer any question you crypto and fiat currencies, and vice versa. Our to share their private data online. Therefore, may have: just contact us! service also makes it possible to convert between we made sure multiple cash options were made For any and all queries, you can mail us at both different crypto and fiat currencies (crypto/ available for customers, with their comfort and security in mind. business@tiger-pay.com fiat, fiat/fiat, crypto/crypto, etc.).

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FEATURE PAYMENTS UX

Payments: The operator’s point of view Danica Galea, Betsson Group’s Head of Payments Operations, discusses how payments processes vary across regions, particularly Europe and Latin America, and how much this affects the player experience What kind of duties does your role entail for Betsson, on the operator side of payments?

As the Head of Payments Operations at Betsson Group, my role is all about overseeing the running of multinational payment operations.

I ensure that customers are receiving the best service, while running cost-effective, sustainable, compliant and efficient operations. Therefore, in a nutshell the role is to lead the team that ensures customers are getting their deposits and withdrawals paid in a timely manner, and that includes the setting up, quality assurance and optimisation of payment processes; as well as managing the team and liaising with stakeholders across the company.

Just how directly does the payments process and experience affect players?

Is there truly as much of an impact as payments companies tend to claim?

How we, as an operator, conduct payments will determine the extent of impact on the customers. Transaction processing is all about an intricate network of systems feeding and synchronising data between different entities (financial institutions, operators, acquirers, payment service providers etc). Even the slightest of flaws or instability will throw traffic

Danica Galea

we need to ensure are a right fit for us, our customer base and support the service level we aim to provide. This is a very important step as a wrong fit will impact our resources,

“Payments processes vary based not just on regions, but customer habits, trends and demographics. The world has already become a ‘mobile-first world’” and the customers’ experience into disarray.

For the most part, it will be factors that are beyond our control, but nonetheless they directly impact our own customer base.

Stability, simple UX, integration capabilities, contingencies, but most of all speed are just some of the critical factors needed to maximise your payments products. Different payment providers offer different setups that

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costs, customer satisfaction, workload and mitigation; as our efforts will be diverted to make up for any deficiencies.

How do payments processes, and the different uses of payments methods, vary across regions?

They vary based not just on regions, but customer habits, trends and demographics.

The world has already become a “mobile-first world” and we have seen a boom in mobile apps, and digital banking, which has created a shift in how people transact.

The pandemic brought about an acceleration into these trends and some of them are now more mainstream solutions. The Nordic region consumers have been on the mobile payment apps solutions game for quite some time, and this still remains their most preferred and popular method. However, when we look at other regions, like Italy for example, customers there still stick to more traditional methods such as cards, e-wallets and bank transfers. This is an ever-evolving situation and as with everything, habits and trends will continue to change with further developments within the regions on faster, easier and more customer-friendly solutions.

What is the payments process for gambling like specifically in the LatAm region?

In general, LatAm is still a very cash-based society, therefore the solutions are limited and very specific to the region, with traditional payment methods being the most popular.

However, the pandemic has accelerated a need and dependency on digital solutions all over the world, pushing cash-based regions like LatAm into developing digital solutions to help their consumers, which in turn will allow us to offer better and faster solutions to our customers.

Given the growing importance of payments within gaming, do you anticipate Betsson will work with more and more payments partners in the coming years?

Most certainly, with growth, expansion, ever-changing technologies and consumer habits comes the need to continue to broaden our portfolio of payment options.

Only then can we ensure we stay ahead of the game, and provide customers the variety of options required to best suit their needs and preferences.

CRYTOCURRENCY FEATURE

The crypto operator’s point of view With the group set to launch new brand Bet Coco in the coming weeks, Mike Fox, CFO of Crystal Wealth Group, discusses how the player experience differs when paying with cryptocurrencies How much of a correlation is there between the growth of cryptocurrency and cryptocurrency betting?

As we all recently saw, the crypto markets underwent a major correction and despite that, the market valuation is still an astounding $1.2trn and recovering. Regardless of the market fluctuations, the adoption of cryptocurrencies continues to accelerate worldwide, with the real-life uses for cryptocurrencies constantly emerging.

In conjunction with the increasing adoption of crypto, Softswiss recently reported that cryptocurrency use in sports betting increased 117% year-on-year in the first quarter of 2022, compared to a 60% growth in overall sports betting. This indicates that the crypto betting market is expanding at a notably faster rate than the fiat equivalent.

When you match that with the projected 11% CAGR (compound annual growth rate) of the global online gaming market size, expected to reach $154bn by 2030, we see crypto betting being a major factor in the growth of our industry.

It was amazing to see the ads for crypto exchanges during the recent Super Bowl, only being eclipsed by the online gaming ads. Then when you see teams like the Los Angeles Lakers and Miami Heat naming their arenas after Crypto.com and FTX, it just reinforces that crypto adoption is rapidly growing; and its use in online gaming is not slowing down.

What kind of volumes could Bet Coco see in terms of crypto betting?

Our parent company, Crystal WG, has plans to launch several iGaming brands over the next few years in both global and local markets, starting with BetCoco. We are backed by a Central American investment office that is aligned with our vision.

We have a passion for wagering and sports betting built on strong operational experience in land-based casinos, sportsbooks and the iGaming industry. Baked into that vision is the adoption of crypto and gamifying the

player experience with NFTs, to expand our market reach into the crypto community.

Accordingly, we believe it’s critical that our industry keeps pace with the adoption of crypto. Per industry reports, crypto currently represents 35% of bets. With our focus on crypto we are projecting over 50% of our bets with crypto. We also plan to launch new crypto-only brands in the near future.

Do you realistically ever see crypto betting overtaking betting using fiat currencies?

Yes, we do because there are so many advantages with crypto for both the player and the operator. Things like faster deposits and withdrawals, low transaction fees, attractive bonuses, along with being reliable and secure.

We also see players being attracted to crypto usage due to more stringent regulations in many countries. Another factor in the growth of crypto betting is the growth of altcoins and their usage in iGaming overtaking bitcoin in the future.

We’re entering markets at a perfect time to earn a good share of the projected market growth, by giving our players the ability to enjoy all the benefits of cryptocurrencies.

In which markets/territories is crypto betting most popular?

We see markets like Canada, Germany, Australia, the UK, Finland, Norway and Brazil seeing significant growth in crypto betting.

However, in the developing world is where we see tremendous opportunities to enter markets to offer crypto betting. In countries with a history of financial volatility and where access to banking is difficult, cryptocurrency adoption is rapidly becoming a way of life.

Countries like Nigeria and Vietnam, which ranks first for crypto adoption worldwide, are part of a group of emerging markets we plan to enter in the near term.

As a matter of fact, recent data has shown that sub-Saharan Africa has surpassed North

Mike Fox

America to become the region with the highest level of crypto activity, which bodes well for use in iGaming.

What are Bet CoCo’s plans for the rest of the year?

Based on the positive trends in the global adoption of crypto and its increasing use in iGaming, we are making crypto a major focus of our multiple brand strategy.

We plan to grow across many territories this year, starting with Latin America, Brazil, Canada and India. However, as crypto has no boundaries and is only becoming more popular, we expect to see players coming from many other regions. Overall, we believe the adoption of crypto will be a big part of the industry’s growth and we don’t plan on being left behind.

INTRODUCING MIKE FOX Mike Fox is the CFO at Crystal Wealth Group.

With 20 years’ experience, Mike has in-depth knowledge of the casino industry, and in recent years has become an advisor on several cryptocurrency and NFT projects.

GAMBLINGINSIDER.COM 25

COMPANY PROFILE TRUSTLY

In focus: Trustly

Raising the game in gaming Trustly Express, which has launched in Finland, Sweden, the Netherlands and the UK, makes gaming even easier by reducing the number of steps at checkout for returning users. Instead of long, complicated registration and deposit processes with a five-step flow, including two so-called Strong Customer Authentications (SCA’s) where the consumer identifies themself, Trustly Express brings the flow down to a single payment confirmation page and only one SCA. This faster, more seamless process allows returning consumers to complete their debit payment twice as fast, with the SCA step typically being carried out almost unnoticed using the biometric security features (such as fingerprint or face recognition) on their smartphones.

Pay and Play is another powerful tool which makes gaming quicker, simpler and more fun. By combining the registration and deposit processes, we have created a truly seamless experience. It builds loyalty and increases operational efficiency, while allowing operators to stay compliant by identifying and verifying players when they make a deposit, thus fulfilling both initial and ongoing KYC requirements.

Since it was founded in 2008, Trustly has become a global leader in online banking payments. Using the freedoms of open banking, our digital account-to-account platform has redefined the speed, simplicity and security of payments.

We link some of the world’s biggest and most prominent merchants with consumers directly from their bank accounts, allowing simple, quick and transparent account-to-account debit payments, which make it easier than ever before for people to spend the money they have with no fees, no delays and no need for credit.

Unlike the competition, Trustly handles the entire payment journey, enabling us to offer an attractive alternative to the legacy card networks at a significantly lower cost.

Today we serve 8,100 merchants, connecting them with 525 million consumers and 6,300 banks in over 30 countries; and in 2020 we processed over $21bn in transaction volume in our global network.

GAMING IS IN OUR BLOOD Trustly is a powerful player in the gaming industry, offering improved acquisition,

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increased customer loyalty and reduced admin among other key benefits. We allow gaming providers to accept payments, issue payouts and access valuable user insights.

Easy activation and multi-currency functionality gives you the power to expand your business across borders, with access to more than half a billion customers across Europe, the Americas and Australia.

Trustly technologies allow your customers to get in the game instantly by depositing funds securely and seamlessly in real time, to a wide range of services from any device with no cards, no downloads, no registrations and no worries.

FASTER GAMING IS MORE REWARDING GAMING Trustly’s roots are in gaming, and it remains a key part of our business. Our products and technologies are designed to make gaming smoother, easier, faster and more fun for players, while working to increase loyalty, retention and revenue for providers; at the same time as minimising risk and ensuring compliance with financial and gaming regulations.

INSTANT PAYOUTS FOR A LIVE CASINO EXPERIENCE When players win, they expect to get their money fast. Trustly gives you a fast, secure and simple way to pay out funds – which does wonders for your customer experience… and loyalty.

Our vast bank coverage also means we can process your payouts in a wide range of currencies, so your customers stay happy wherever you are.

In a world where customers demand instant, painless payment and payout solutions in both gaming and retailing – and where they are less forgiving of delays, complications or other snags – Trustly keeps you ahead of the pack. Our range of products and services are all designed with one thing in mind – to make paying and playing easier and better than ever before.

COMPANY PROFILE ISX FINANCIAL

In focus: ISX Financial Nikogiannis Karantzis, ISX Financial Managing Director & CEO, introduces ISX Financial EU Plc (“ISX Financial”) Nikogiannis Karantzis

What is ISX Financial’s key focus and overall vision for the payments space?

ISX Financial is a diversified RegTech with banking technology and regulated financial service offerings, founded in 2015, with more than 10,500 shareholders.

We have researched, patented, written and deployed our core software technology stack to satisfy the unique requirements of our customer base.

What is your vision?

We envision a banking system tailored for the demands of contemporaneous consumers and businesses. We will make instant bank transfers as easy and convenient as paying with cards.

What would you say are ISX Financials’ key services and how do they differentiate themselves in the payments space?

ISX Financial offers a complete end-to-end regulated service across all our verticals.

These include instant inter-bank payments, electronic money, card processing, card issuing, currency exchange and identity

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verification services.

Instant Payments: Our customers can send and receive bank payments with us through our SEPA Instant and SEPA SCT service, as well as the UK’s Faster Payments Service (FPS).

Our SEPA Instant service allows instant bank transfers to all participating banks across the EEA region, while our Faster Payments Service allows instant bank transfers to all participating banks across the UK. SEPA Instant transfers are sent and settled within 10 seconds and allow up to €100,000 ($106,000) per transfer.

Faster Payments Service transfers are sent and settled within 10 seconds and allow up to £1m ($1.25m) per transfer.

ISX Financial was the first provider of SEPA Instant in Cyprus and the Balkans, making instant bank payments across the EEA and is today one of the largest processors. ISX Financial processes on behalf of other banks, credit unions, payment institutions as well as its business customers.

Banking: Our customers can also transact through us directly through our core banking

platform, which links all our verticals together.

All client funds are all held directly with the relevant central bank, ensuring a zero-credit risk and secure service sitting atop our core banking service. We have also recently expanded our offering to support SWIFT transfers, to banks all over the world in over 25 currencies. These include heavily soughtout currencies such as $USD, $CAD, $HKD, $AUD, ₹INR, ¥Yen & £GBP. Card Processing: Our ISXPay platform offers conventional card acquiring through some of the world’s largest payment schemes.

We are principal members of Mastercard, Diners, Discover, UnionPay & JCB. We are also an aggregation partner of American Express (AMEX) which gives us access to top-tier card schemes and bridges the gap with our payment offerings.

With the payments space being such a dynamic environment, how do you see the future for the company and what are its next steps?

Technology is ultimately what differentiates service providers in this industry. We have consistently focused on researching, innovating, patenting and developing our current technology, and that will continue.

We’re re-envisioning a payment system and tailoring it to the demands of today’s consumers that demand instant results.

Open banking is where we see the future of this industry and instant bank transfers will be the tool to unlock it. Our own open banking platform allows customers to make payments well under 10 seconds 365 days per year, versus traditional card payments which can take days to clear.

Our company continues to expand internationally with customers worldwide, making us a truly global company. Alongside our Headquarters based in Cyprus, we have offices in the USA, UK, Lithuania, Netherlands and Malta, with Canada & Brazil to follow shortly.

FEATURE IGA PANEL

IGA Panel: The cashless revolution & the value of going digital A panel at this year’s Indian Gaming Association tradeshow discusses the role of payments in gaming and the mounting momentum towards cashless Tamara Hansen, Director of Sales, NRT Technology: What are the payments trends that you’re seeing surface? How are they driving efforts within the gaming industry? And zooming out, what things can we learn at large as a society?

Craig Libson, CEO, Flexia Payments: Cashless gaming not only takes care of the funding of accounts, it also provides a product that gets the user into the world of banking.

It gets people into Apple Pay, etc. So, it’s of societal benefit to get these products out there.

However, until you have a reason to get consumers to go electronic, you’re not going to pull it off. In this industry, where there’s

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a struggle to turn from cash to electronic, strength you have as an organisation to have it’s a gradual reflection of society, where fine granular real-time data to bring down technology is gradually becoming more integrated. your cost of marketing, and bring up your intelligence of the player you’re dealing with.

Earle Hall, CEO, AXES: Everywhere I By doing this, you’re ensuring your player is go round the world now, especially the US, getting what they need all the time to come cashless is confusing. Most people don’t know back all the time. the difference between open loop and closed What is open loop? It’s just a money loop. What is closed loop? The very definition transportation system. It’s a virtual ATM of closed loop is data; closed loop is loyalty; machine; it’s whatever you want it to be, closed loop is engagement and closed loop but it’s essentially getting money out of a is rewards. It’s all about knowing your customer, banking system, out of a fiat system, and not from a regulatory side; which is awesome getting it into the player’s wallet inside the and the foundation of a legitimate industry. casino floor. The easiest way to understand But know your customer (KYC) is really the what cashless should be in our industry is

IGA PANEL FEATURE

open up your Starbucks app and look at the difference in the points you make! If you pay with your credit card, or if you pay with the float that you have on the Starbucks app, that’s where it all starts, that’s the baseline.

Jonathan Michaels, Senior Vice President of Development & Government Affairs, Sightline Payments: What we’re seeing, broadly, is a number of market trends that are pointing towards the mounting adoption of those digital payments.Technology is being adopted more and more. The trajectory we’re seeing is that by 2026, only 6% of transactions will be in cash for retail and other point-of-sale outlets. We’re moving towards a cashless society. Certainly, the pandemic has helped accelerate this, and some of the fears that came up regarding the transmission of Covid-19 through cash. That was proven to be a misconception, but I think it’s clear that people are now very comfortable with using digital payments. The Starbucks example is great. People will only put money into that account knowing they only spend it at Starbucks.

But why do it? It makes your life easier and you earn loyalty points. It’s the same principal the gaming industry has. People come wanting rewards, and they want it to be an easy experience. So, taking these things from broader payment trends and putting them into this industry is where I think it is going to be successful.

Craig Libson

Christopher Justice, President of Gaming Solutions, Global Payments: Well certainly, thinking about the trends that impact your customer, and your most loyal and profitable customers, everybody’s got a mobile phone; everybody’s got a smart phone. So when you think about this industry going towards cashless payments, better than half of all retail purchases over the holiday season were made on a mobile phone.

Where is this industry going? Where are consumer wants and desires going? They’re

MODERATOR

Tamara Hansen, Director of Sales, NRT Technology

IGA PANEL

Craig Libson, CEO, Flexia Payments Earle Hall, CEO, AXES Christopher Justice, President of Gaming Solutions, Global Payments Jonathan Michaels, Senior Vice President of Development & Government Affairs, Sightline Payments

heading towards a digital space quickly, easily, safely, seamlessly, securely – add all the adjectives you want – but the technology is allowing the consumer to engage with the information they want in a real-time environment. If you can do that you will drive immense loyalty for your best customers and keep them inside your facility.

Libson: If you’re an operator running a casino in a cashless environment, you know a lot more about the customer, you see their preferences etc. Instead of them taking out $100 over a counter, if you can get them to a retail shop where they use a gaming account for their purchases, you’re not taking $100 out of the balance sheet; you’re basically

GAMBLINGINSIDER.COM 31

FEATURE IGA PANEL

using the money for a good, and you get the data back from the cost, from the dispersal and usage of that good. Cashless is not just in and out, it’s taking all the data and saying “once that guy wins, how am I going to make them do something with that money that puts even more money in the business’ pocket.”

It’s a holistic approach: get them in, know who they are etc.

Hall: Everyone knows it is the casino float that’s the health of the joint. The float will be low, endangered or exposed if someone has a high win on a table. That being said, the definition of a closed loop system means the money is in the casino float. If the money is not in the casino float, then it’s in an open loop system. That means once the money comes in the door, you’re there to give the customer entertainment. You’re not there to give them money back. So the whole goal of going cashless is: if it comes into a closed loop environment then it can’t go out. That’s where data, marketing, loyalty and rewards kick in, to keep it in the casino float so you’re safe, so your money doesn’t deplete over time.

Money will naturally migrate away from the casino particularly when using the open loop.

Starbucks figured this out in the beginning of the pandemic; that’s why they started out their loyalty system, to get money into their float and to keep it there.

Hansen: Let’s focus on data. Now that we have these means to pursue customer activities to drive growth, with new technologies, how important is it to keep responsible gambling in mind? How do we leverage these advancements to create an even safer environment for the player?

Michaels: I think what you see in the digital realm that you don’t see in the brick-and-mortar realm are tools that customers can put in place on their own, whether that be deposit limits, time limits or spend limits. There was a study that was done in Ontario during the pandemic, which asked how people’s behaviour changed. 90% of Ontarians used limit settings as a responsible gaming tool: 90%. That doesn’t exist in the brick-and-mortar gaming sphere. But, as we look to go cashless, there’s now a huge amount of data to say “how do we understand and interpret the behaviour of all these people?”

So companies like ours, Global Payments and Sightline, help establish a payments collaborative, which is designed to give users access to all transactions, and they’ve tracked over 200 million transactions. That’s a lot of data. What they’re going to do is go through all those and say: How do we understand how payments data can showcase when consumers might have a problem, due to changes in behaviour, deposits, timing, all that, and use data points to build better products that help people? Digital data points can revolutionise responsible gaming, it gives so much input and insight into the player and their type of behaviour; to really make sure they are wagering responsibly.

Hall: I always get invited once to these kinds of events and never get invited back because I give my opinion! Am I the only one in the industry who doesn’t understand why we’re still fighting with responsible gaming?

Particularly when everyone is KYC’d on Facebook, Uber, on absolutely everything other than the gaming industry. And there is the dark side of KYC where they have to regulate and check people out; but in the real marketing world, in the social media marketing world, it’s KYC that drives the whole marketing programmes. If you go to any other industry than ours, everyone is striving for KYC, because that’s the driving force. If there’s one jurisdiction in the world that’s 100% KYC, it’s the country of Poland.

When you sign up for a player’s card in Poland you have to get your national ID

Earle Hall

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Christopher Justice

and loads of other things, after which you have to set your time limit, your spend limit and your visitation limit.

But once again, you don’t even need those things in the KYC world. When I dig into our data at Axes, just by the change in the speed of the click, you can spot someone having an issue at a machine within 25 feet.

I was taught how to do it. With that being said, change the speed of click, change the nomination, change the game; there’s a whole bunch of behavioural changes that when you have the real-time data, all you’ve got to do is set the alert, walk over and tap them on the shoulder like in the good old days; invite them over for a donut and a coffee and allow them to cool off. But you need the real-time data to have the algorithms to work that way. We’ve got to get on that lead in this industry so everyone is KYC’d and get rid of all the bad. Then we can get focused on cranking up the good and get more profit out of every player, because they’re having a freakin’ good entertainment experience. And with the guardrail for anti-money laundering (AML) on the left, and the guardrail for responsible gaming on the right, it’s exactly the same data.

Justice: Well, I would say, fortunately it’s a free country so we’re not going to require all of our customers to do things that may make them uncomfortable or drive them out of our ecosystem. Going back to what Jonathan was saying, part of it is around giving your customer the control to manage their own business. In a cash environment it’s very difficult to keep up with the amount of money a customer has in their pocket, or what it’s going to be spent for. If I have an

IGA PANEL FEATURE

electronic measurement where I can control my spending, I can manage my money; as far I’m concerned, I can manage my money for the rest of my life. Electronic measurements give people the ability to control themselves.

Likewise, that same technology can then track and provide behavioural analytics to where, as an industry, we can start to understand when customers are getting ahead of themselves; when they’re getting out of control, and then we can start thinking about what actions can be taken to nudge customers in the right direction. At the end of the day, it’s about giving control to the customer, as well as to the operator.

Hall: There’s a jurisdiction in the United States that just made a change in the laws yesterday. Three months ago, they were going to go obligatory KYC. During those three months we showed them how to better use loyalty rewards and now they’re against that.

In other words, you make a clear distinction between a cashless loyalty programme and a cash loyalty programme. Why? Because you’re trading data for knowing who they are.

So another point about going cashless outside

of closed loop and opened loop, is what is your rewards strategy? It’s loyalty and rewards that drives deep meaningful KYC. Hansen: How are we keeping data, security and transparency in mind as we move forward?

Libson: Well, this topic is the bane of my existence because we’re owned by a bank, so everything my company does has to go through their banking systems and security.

We’re working with them and how they secure their debit card and credit card securities to ensure we’re in line with that.

Our security is tied to the bank so it’s tied to our devices, whether that’s our machine or devices in store.

But, right now, we’ve got a world where every slot machine is connected to Data Mining Systems (DMS) via a wire. And, sooner or later, these wires are going to go away, so the security in the internet world will need to be at the same level as that that we have in brick-and-mortar stores. Hopefully the focus turns here and it’s successful, and hopefully there isn’t a major online disaster; but that’s the way things are going online.

Justice: As you’re exploring how solutions work, having your IT team go through to make sure they have the greatest security so that these online services are as safe as they can be. Our approach has been to go down the path of leveraging the ticketing system that’s been tried and true, and has been proven in the casino industry for decades.

But there’s always checks and balances to be had so that the information can be put across your ecosystem. This way, the same challenges you have today you’ll have tomorrow, but this won’t introduce any new unexpected challenges if done correctly.

Hall: Well, once again I’ll have to play the black sheep of the family. We started our cloud over 12 years ago; pure cloud. What does that mean? Well, I’m inherently scared of local servers. Why? Because most of the time local servers have 16 holes in them in real-time that a hacker could patch.

Especially depending on how many people you have plugged into that local server. So our solution was to piggyback on the people that were paying hundreds of millions of dollars on security each year; the Microsofts, the Amazons, the Googles, etc. We wanted to ensure we were using their security packages as our base.

That being said, about five years ago internet security started becoming scary, and that’s where blockchain comes in.

All blockchain means is that you put passwords before a piece of data, after a piece of data and every single piece of data has an interlink password all through them. What we had to do to make sure we were secure when we started working in Eastern Europe; where we saw some scary things, was to upgrade to the Microsoft security package blockchain.

But, once again, to take away, how can we really be that secure with a local server?

The answer is not that easily in today’s world.

The world of cloud today is possibly the safest place you could be. In the old days, you didn’t know bank accounts were on the cloud because it was all on a closed network.

It’s not only banks that need a certain level of security representation, but a number of other organisations. Security in today’s world? If it’s not the cloud, it’s scary.

Michaels: We’re pretty much there in terms of ensuring everything is done in line with the regulator; but we also deal with a whole banking structure too, whether that be banking commissions, state, etc. We have to be in line with all those protocols too. One such thing is PCI compliance, making sure that all the terminals we have, regardless of how they’re delivered, fit within our ecosystem. At the end of the day, you’re ensuring everything is working and there’s a deep understanding of the processes involved; these are things all the other companies are doing.

Tamara Hansen

Jonathan Michaels

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COMPANY PROFILE ASTROPAY

In focus: AstroPay Founded in 2009, AstroPay is one of the world’s pioneering payment solutions, with extensive experience in managing the specificities of emerging markets; offering efficient and reliable solutions to all customers, end users and merchants, regardless of where they are located.

Following the recent expansion and launch of services in Europe, AstroPay is now accessible to customers across the globe, spanning the world’s largest continents including Latin America, Asia and Africa.

Over six million users are already benefiting from AstroPay, along with 1.000 merchants via more than 200 payment methods globally.

AstroPay provides traditional card payment methods as well as a wide range of guaranteed alternative payment options to customers, to help them avoid common issues such as payment rejections, fraud and credit approval.

In 2020, it launched its digital wallet solution, One Touch, that allows merchants to process payments and withdrawals quickly, easily and securely. From a single integration, merchants can access the benefits such as having greater control over transactions and minimising risk, receiving payments with a simple ‘touch;’ with automatic approval for recurring users, KYC verification and identification control, and access to analytics and reports, as well as fraud alerts that meet the levels of security and compliance required nowadays.

Consumers use AstroPay to make online transactions on international websites, using their preferred local payment methods in local currency. The digital wallet solution allows users to make deposits and withdrawals

which has provided it with a vast array of experience in developing strategy, as well as innovating products and services to satisfy users from different cultures and backgrounds.

For AstroPay, user experience is at the core of its business, as providing an excellent and seamless payment journey offers meaningful support to users and assures a better conversion

“Following the recent expansion and launch of services in Europe, AstroPay is now accessible to customers across the globe, spanning the world’s largest continents including Latin America, Asia and Africa” directly and seamlessly from merchants’ sites, which generates an increase in conversion rates.

AstroPay has an unparalleled track record when it comes to doing business in emerging markets. For more than 13 years, it has been dealing with the specificities of each region,

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rate. The team analyses users’ response and feedback, and adapts quickly to their requirements. Users can make payments and withdrawals directly from merchants’ sites, which avoids friction during the payment process.

Understanding the user is of paramount importance, especially when providing a

way of payment, and building a sense of trust and security. Using their language and comprehending how they like to pay, as well as their access to connectivity and technologies, generates a sense of closeness, as well as brand engagement. Having the experience of working in so many different markets makes AstroPay unique and agile to adapt to consumers’ ever-changing needs, and to provide clients with a reliable payment solution. One of the keys is having dedicated teams in each market to work in ensuring the business operates with a strong understanding of the local market landscape, to provide the best user experience.

AstroPay engineering process includes specific tools to obtain user feedback to analyse. The use of different metrics to measure conversion rates enables making adjustments when necessary. This process makes the solution very agile when changes are needed, and it enables a solid response capacity.

AstroPay is known for its versatile solutions that provide merchants with access to a community of over six million users, helping to promote their brand, as well as enabling them to grow their business globally in more than 150 countries, from a single integration.