Gambling Insider: Payments Focus July 2023

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Regional focuses: LatAm, the UK, the US and Africa Interviews: Innovation, player choice & omnichannel Company profiles: The biggest players in payments

July 2023




Julian Perry


Tim Poole


Matthew Nicholson

Lucy Wynne

Robert Prendergast


Brendan Morrell DESIGNERS

Olesya Adamska, Christian Quiling


Radostina Mihaylova, Svetlana Stoyanova, Gabriela Baleva


Mariya Savova


As the Gambling Insider team rightly points out in our LatAm payments feature (page 24), payments is an easy topic to forget about... until something goes wrong.

At this point, a merchant or customer is reminded that payments is pretty important. Well, incredibly important – without the ability to make a payment, your whole activity, be it shopping, booking a gym class or betting, falls through. I was reminded of this simple fact on a recent lunch break at work. The vendor’s card machine didn’t work and my payment was cancelled three times before I could, quite simply, leave with my food.

From that solitary example, it’s easy to see why the payments sector – especially within gaming – is so competitive, and the problems so homogenous for suppliers. It’s so difficult to differentiate, but the end results of a vast technological improvement can barely be visible to the naked eye (or so it at least may seem during a customer transaction).

This also explains why Trustly (to name just one) has gone to great lengths during its Trustly XYZ series, outlining the premise behind its new Trustly Azura system. It is “not a product,” according to CEO Johan Tjärnberg, but an engine. The aim is to increase personalisation and, of course, conversion.

Unavoidably, these are themes that recur within our Payments Focus

On page 4, we look at how the industry has innovated (Trustly features here again). On page 10, meanwhile, we evaluate how the new gambling White Paper will affect the payments process within the UK market. Further geographical regions are explored with LatAm (page 24) and the US (page 30), before we hear from Adam Gros on crypto (page 38) and Christopher Justice on omnichannel & more.

Our company profiles are also back, in which Gambling Insider gives you a who’s who of the gaming payments world. But we haven’t ignored the what, the where or the why either. We hope you enjoy the issue! TP, Editor

Oleksandra Myronova


Tom Powling


Deepak Malkani

Tel: +44 (0)20 7729 6279


Michael Juqula

Tel: +44 (0)20 3487 0498



Aaron Harvey

Tel: +1 702 425 7818



Ariel Greenberg

Tel: +1.702 833 9581


William Aderele

Tel: +44 (0)20 7739 2062

Irina Litvinova

Tel: +44 207 613 5863

Serena Kwong

Tel: +44 (0)20 3435 5628


Michelle Pugh

Tel: +44 (0) 207 739 5768


Rachel Voit


Sean Mackay, Lloyd Firth, Martin Cheek, Paul Kavanagh, Lawrence Levy, Leighton Webb, Adam Gros, Christopher Justice, Trustly, Passport Technology, Sightline Payments, MiFinity, PayNearMe, Crane Payments, Okto, Pavilion Payments, Praxis Cashier, Mids Corporation, Match2Pay, Axes Network, FinXP and Payop

Gambling Insider magazine ISSN 2043-9466

Produced and published by Players Publishing Ltd 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 e ects arising therefrom. The views expressed are not necessarily those of the publisher.
Julian Perry, COO, Editor in Chief Tim Poole, Editor
GAMBLINGINSIDER.COM | 3 A CONTENTS 4 INNOVATION IN PAYMENTS Trustly, CoinPayments and MIDs discuss the developments that are currently ongoing within the payments industry 10 THE WHITE PAPER GamblingInsider investigates the impacts the gambling White Paper will have from a payments perspective 18 ON THE HORIZON: AFRICA’S PAYMENTS FUTURE What are the next steps for payments solutions in Africa? 24 THE FUTURE OF LATAM PAYMENTS GamblingInsider takes a look at gaming payments companies operating in the LatAm market 30 THE PATH TO PROFITABILITY IS PAVED WITH CHOICE PayNearMe speaks to GamblingInsider about the current evolution of the US payments industry 38 ‘LIMITLESS’ CRYPTO PAYMENT POSSIBILITIES Gamblineers owner and regular GamblingInsider contributor Adam Gros reflects on the past year of crypto payments within gambling 42 MEETING THE PLAYERS WHERE THEY ARE Christopher Justice, CEO of Pavilion Payments, discusses how the industry must grow with a player’s journey in mind, as much as an operator’s 18 38 30 Company Profiles 6 PASSPORT TECHNOLOGY 8 SIGHTLINE PAYMENTS 14 MIFINITY 16 PAYNEARME 20 CRANE PAYMENTS 22 OKTO 27 TRUSTLY 28 PAVILION PAYMENTS 32 PRAXIS CASHIER 34 MIDS CORPORATION 36 MATCH2PAY 40 AXES NETWORK 44 FINXP 46 PAYOP 10

How are payments innovating?

Gambling Insider spoke with Trustly, CoinPayments and MIDs on the innovations that are currently happening in the payment industry


How does Trustly stand out from other payment companies?

We utilise our proprietary open banking technology to deliver an exceptional payments journey. What sets Trustly apart is our ability to develop, own and maintain the entire infrastructure from end to end. Unlike our competitors who rely on integrating and leveraging external services, this gives us full control over the payment experience and enables us to innovate across the entire payments ecosystem.

The success and adoption of Open Banking, in which Trustly played a pioneering role, has raised expectations for flawless payment

experiences. Merchants now demand more than just facilitating fund transfers; they seek business-enhancing services. With our extensive experience of over 15 years in open banking, we are positioned to meet and exceed these heightened expectations.

Trustly’s success stems from our ability to leverage a comprehensive payment ecosystem and offer innovative solutions to help merchants address various challenges, and create exceptional payment experiences for users.

How have things changed in the last 12 months?

We have recently expanded our revolutionary product, Pay N Play, to new markets. Pay N Play combines

deposit and user verification into one seamless onboarding flow, allowing players to quickly start gambling by skipping lengthy registration forms, while also ensuring operators remain compliant. In the Netherlands, we introduced Pay N Play 2.0, which reduces the onboarding time to under three minutes by gathering information directly from the user’s bank, and incorporating iDIN and passport scanning services into one seamless user journey. We are working on launching our Pay N Play product in the UK market by allowing players to be onboarded and verified by simply depositing directly from their bank account. We launched the Trustly Express


product over the past year. This feature allows users to store their bank account information for seamless and efficient recurring spending.

What does the future hold?

On 24 May, we introduced Trustly Azura. Much bigger than a simple product or new feature, Azura is a tangible manifestation of Trustly’s pioneering spirit, unrivalled bank coverage and long history in ‘digital native’ payments. An engine that will drive our new suite of products designed to revolutionise the merchant and consumer experience across European markets. By harnessing a sophisticated proprietary data model, operators can now personalise and optimise the deposit journey for users. This streamlined process will double the speed of deposit by requiring one instance of Strong Customer Authentication. Azura has the potential to boost conversion up to 95%.

Trustly Azura also allows operators to instantly recognise a player and present them with their last used bank account. This creates a seamless, safe and consistent experience every time they deposit or withdraw, eliminating the need for manual bank and account selection, as users will effortlessly see their last used bank account. Azura represents the first-ever at-scale implementation of a personalised payment experience, ensuring users enjoy a consistent experience across any operator with Trustly.


How does CoinPayments stand out from other payment companies?

CoinPayments sets itself apart from competitors through its range of payment solutions and vast global user-base. Renowned for its strong reputation and extensive experience, CoinPayments delivers a payment platform that excels in crucial areas such as reliability, security, speed, user-friendliness and unparalleled customer support. By leveraging these strengths, iGaming operators can elevate their operational efficiency, increase revenue, improve customer satisfaction and cultivate long-term loyalty.

CoinPayments has proven itself in the realm of cryptocurrency payments, revolutionising the way businesses transact globally. Since 2013, CoinPayments has developed

a complete crypto payment gateway that allows merchants to accept over 100 cryptocurrencies and hold over 2,000+ altcoins on a single platform, accumulating a user base of 1,000,000+ accounts and 120,000+ registered merchants.CoinPayments has low fees starting at 0.5% and is both a crypto payment gateway (150+ coins supported for payments) and a crypto custodial wallet (2,000+ coins supported for wallet).

them in a crypto payments platform and we are prioritising our feature releases accordingly.


How does MIDs stand out from other payment companies?

We’ve been in payments since the late 1990s and with that experience have seen a lot of solutions come and go. Through this, we’ve formed a strategy of working only with acquiring partners who have a long track record and operators who take their operations very seriously.

How have things changed in the last 12 months?

In the last 12 months, the cryptocurrency landscape has seen several developments. There has been a significant surge in the adoption and mainstream recognition of cryptocurrencies, with major financial institutions starting to offer crypto-related services to their customers. Additionally, governments and regulatory bodies worldwide have been actively working on establishing clearer frameworks for cryptocurrencies, leading to increased regulatory clarity. At CoinPayments, despite these developments, the last six months have shown a downward trend in volumes. This is a general kind of outlook on the market as everything has been tightening up. The current situation is that people would rather hold onto crypto than use it. Essentially, we have gone slightly into a bear market crypto winter but there are signs that we are starting to come out of that now and we expect this trend to reverse.

What does the future hold?

We have had our heads down building in the same way that crypto projects out there do during a crypto winter. We plan to release a major update to our platform, making it faster, more scalable and more flexible. We speak directly with clients in the gaming space and know what’s important to

We are very selective about who we work with. Whether that is with a new acquiring partner or a new operator, we review each opportunity very closely to ensure that it’s the best fit for not only us but also for our partners and clients. We’ve avoided certain markets purely because we saw them as short-term, we prefer to look for more long-term commitments. We have a responsibility to our existing clients and partners to keep our portfolio clean and stable. We take this very seriously.

What drives MIDs success?

We’ve been fortunate enough to do what we do for a long time. A little luck never hurts and this has resulted in a lot of word-of-mouth referrals. Over the past few years, we also recognised the need to expand beyond one or two regions and have been able to expand our card and APM solutions globally. This helps us to board new operators but also allows us to better serve our existing clients as they expand their businesses around the world.

How have things changed in the last 12 months and what does the future hold?

We’re seeing operators expanding across regions very, very quickly. We’ve been in payments for a long time and have never seen such rapid development across the globe. New APMs are helping with this but it is a clear focus of gaming operators that we rarely see in other industries we work with.

We will look towards more expansion and better payment experiences for customers. There is a big focus on the ease and security of payments on a global scale. This has led to a lot of new developments and regions opening up over the past 12 months and it is only going to accelerate over the next year.

“Operators can now personalise and optimise the deposit journey for users”

In focus: Passport Technology

The Personal Touch - High Tech High Touch for All Players

I was struck by a recent conversation with a newly acquired customer around the need for modern casino loyalty systems to be flexible, modular and robust enough to touch all players including the ones that don’t play. This includes non-gaming patrons within the resort, the concert goers, the convention attendees, the happy hour crowd, the retail shoppers, the foodies and every customer aspect of the resort experience that drives their offering.

To do this right, casinos must have the tools to understand behaviour and purchasing decisions across disparate systems with little to no integration. Getting this right is imperative within a highly competitive market where destination casinos fight for every dollar and regional casinos fight just as hard with an aggressive route market for that same dollar.

We believe Lush is the tool to help operators individualise and target all patrons, and drive solid decisions that yield resort spend and win.

Our industry is constantly seeking strategies to attract and retain customers. Among these strategies, loyalty programs have emerged as a powerful tool to foster customer engagement and enhance brand loyalty. However, the true potential of loyalty programs lies in their ability to target individuals on a personalised level. A one-size-fits-all approach does not fit and Passport’s strategy emphasises how individual targeting can significantly contribute to the overall success and growth of the total resort experience.

A well-executed loyalty program can generate significant returns, including increased customer retention, enhanced customer lifetime value, and improved overall profitability. By rewarding customers for their continued patronage, loyalty programs foster a sense of belonging and connection, thus strengthening the emotional bond between customers and the brand. Lush takes this to the next level by affording operators a full licence, without inhibition, to customise all our promotional game content and create unique offers by mass, group, tier and even down to the individual player. The latter could be a customised spin and win promotion for

a five-year anniversary or a personalised promotional scratcher with a player’s image and likeness to celebrate a tier milestone.

While loyalty programs serve to reward customers, their true value lies in their ability to drive customer engagement. Engaged customers have a higher propensity to make repeat purchases, refer others to the brand and provide valuable feedback. Targeted loyalty programs enable businesses to understand individual preferences, behaviours and purchase patterns, allowing for the customisation of rewards and offers that resonate with customers on a personal level. This personalised approach creates a sense of exclusivity and makes customers feel valued, thereby enhancing engagement and loyalty. To implement effective individual targeting in loyalty programs, casinos must leverage the power of data analytics. Each casino has a unique way to look at what key metrics and drivers “move the needle” relative to player development. As partners, Passport emphasises need for a robust data-driven approach that captures and analyses customer data to derive actionable insights. In turn, casinos can segment their customer base, identify high-value customers and understand their unique preferences and needs. This knowledge enables companies to create personalised offers, tailored recommendations and relevant communications that resonate with each customer individually; all

aspects that drive continuity gifting, combination offers (e.g. hotel, food & beverage, gaming and non-gaming) and brand messaging.

A successful loyalty program goes beyond mere rewards and discounts; it aims to provide a seamless and personalised customer experience. Our discerning customers expect tailored experiences and interactions with brands. By leveraging individual targeting within loyalty programs, casinos can deliver a highly personalised experience at every touchpoint, whether it is through personalised offers, curated resort recommendations or exclusive events. These personalised experiences not only deepen customer loyalty but also create positive brand associations and differentiate the casino from its competitors.

Passport has strategically married its Fintech and loyalty platforms to ensure every aspect of resort spend and behaviour is properly tracked, and subsequently rewarded. We are unique in our ownership of our proprietary DataStream processing switch that enables deep insight into each dollar to the floor. Our Origins API is used by our customers for third-party providers (e.g. point of sale, hotel, etc.) to juxtapose customer spend to the total resort experience. Lush is a powerful tool to reward that customer journey and this vertical integration is a key reason behind our growth in this vertical.

Diallo Gordon, Chief Marketing and Product Officer, Passport Technology

In focus: Sightline Payments

The Last Case for Cashless

Cashless payment options are everywhere – across multiple industries and the world. But as cashless becomes the norm, casinos continue to lag behind. However, that is changing as gaming responds to consumer demand, takes advantage of updated gaming regulations and evolves with technological innovation. The question is no longer if a casino should offer cashless but when.

Cashless is not just the future, it’s the now

According to the PYMNTS’ 2023 Global Digital Shopping Index (GDSI), 567% more in-store shoppers year-over-year paid via a contactless card, digital wallet usage was up 33%, and 48% of US shoppers see payments choice as a highly important feature.

and Co-CEO Omer Sattar. “Or think about the last time you paid by cash when you used a taxi – that’s if you didn’t use Uber or Lyft, which is strictly cashless. The world has gone cashless, but our industry isn’t there yet.”

Shrinking hurdles

Consumers have adapted to cashless and most other industries have embraced it. So why is gaming lagging behind? Casinos typically stated two reasons: cost and regulations. But all that is changing. When it comes to cost, casinos are now taking into consideration the costs of cash handling and processing. Also, the savings gained when using a closed-loop wallet is significant.

Better patron experience

The biggest advantage to casinos offering cashless payment options is the ability to offer a smoother experience to their patrons. According to the American Gaming Association (AGA), 57% of all previous-year casino visitors and nearly 90% of high-frequency, high-value casino guests want to use digital payments on the gaming floor.

This makes it easy for someone to pay for their gaming and entertainment throughout the resort using a single payment method – while earning loyalty – without having to stand in line at an ATM or cashier cage increases customer satisfaction. This experience is not just a theory. It’s a real-world example of an experience Sightline has already created at casinos like Resorts World Las Vegas.

We are already living in a cashless world, and the race is on to offer patrons an experience they’re already accustomed to in other industries. Fail to do so and risk losing patrons to a casino that can.

The increase in cashless adoption by consumers can be boiled down to convenience, cost savings and security. More and more carry smartphones, and enjoy the convenience of a digital wallet, removing the need to stand in line for an ATM and potentially pay a service fee. It also eliminates the need to carry around large amounts of cash, reducing the risk of loss and theft. “The next time you stand in line at Starbucks, pay attention to the number of people who pay via their phones versus a bank card, let alone cash,” said Sightline Co-founder

As shown in Sightline’s new Insights Series, What Gaming Can Learn from a Big Box, which unpacks how the retail and restaurant industries use an omnichannel customer engagement approach, 20% of Target’s revenue comes from customers using the retailer’s RedCard, amounting to nearly $20bn in 2022. This means Target saved roughly $500m on interchange fees alone from using a closed-loop system. The full report can be accessed on Sightline’s website by becoming a Sightline Insider.

Also, gaming regulations in nearly every jurisdiction have been changed to allow for cashless gaming. These regulatory changes have been driven by evolving consumer perspectives around cash, and the ability for cashless gaming to aid in efforts around anti-money laundering, responsible gaming, and patron safety.

These changes are paving the way for what’s possible when going cashless.

Andrew Crowe, Senior Vice President of Investor Relations + Growth Initiatives, Sightline Payments

The White Paper: How will it affect UK payments?

With the help of industry experts, Gambling Insider investigates the impacts the gambling White Paper will have on bettors, operators and the rest of the UK gambling industry – from a payments perspective

The gambling White Paper was released on 27 April, laying out the UK Government’s plan for the reform of gambling regulation following the review of the Gambling Act 2005. The White Paper presented several new recommendations to help tackle problem gambling, as well as making sure operators are abiding by regulations and constructing necessary checks of its players. A stake limit may also be introduced for online slot games, with the proposed amount being between

£2 ($2.49) and £15. As per the White Paper, further limitations will also be introduced to the 18-24-year-old age bracket, with £2 per stake again a possibility. However, there will also be a change to how many slot machines land-based casinos can offer, with the upper limit being raised to 80 from the previous 20. Sports betting may also be legalised in all casinos as part of the paper’s recommendations, as opposed to the select casinos that were licensed under the

2005 act.

Operators will also be expected to share data on high-risk customers with one another, to prevent problem gambling and money laundering, as well as make changes to how they market bonuses and free bets to reduce social harm. Despite many operators already partaking in voluntary levies, the White Paper proposes


a compulsory statutory levy to be paid directly to the Gambling Commission. This levy will help to support treatment, education and research into gambling harm. So, naturally, there is plenty there for the gambling industry to decipher. But what about the payments angle?

Affordability checks: How will they be used?

In abidance with the White Paper’s recommendations, operators will be expected to enforce stricter financial checks on individual customers. The first of these checks will be triggered by a bettor having a £125 net loss within a month or £500 net loss within a year, with the strictest checks kicking in at a £1,000 net loss within 24 hours, or a £2,000 net loss within 90 days.

Open-source indicators of financial vulnerability, such as county court judgements and bankruptcies, will be examined at this point. Credit reference agencies will be involved in most checks and, if insufficient information is obtained, direct customer data collection may be required. We discuss this

topic with Lloyd Firth, Counsel at Wilmerhale’s UK White Collar Defence and Investigations Practice, and Martin Cheek, Managing Director at SmartSearch and qualified solicitor.

Cheek tells Gambling Insider : “The checks are designed to prevent individuals from gambling beyond their means and protect vulnerable individuals. Although the White Paper doesn’t provide specific details on the thoroughness of these checks, it emphasises the need to implement effective measures for responsible gambling and protecting individuals from excessive financial losses.”

When it comes to financial checks taking place, they aren’t that complicated or intrusive on a smaller scale; it is a basic vulnerability check that takes seconds. However, once the bettor begins losing larger amounts in smaller time frames, the checks become more thorough.

Firth states: “At a moderate loss threshold (£125 net loss within a rolling

month or £500 net loss within a rolling year), operators should conduct a financial vulnerability check, considering the types of open-source indicators that many already routinely assess; such as county court judgments, average postcode affluence and declared bankruptcies. These checks should take seconds to process and would be frictionless for the consumer.


“If a check raises concerns and no robust evidence to the contrary can be provided, operators will need to respond accordingly. Any account with net losses exceeding £1,000 in a rolling 24-hour period should be subject to an enhanced spending check: this provides much greater insight into a customer’s financial situation by accessing more personalised data to consider factors like discretionary income.

“Checks would involve credit agencies providing estimates of overall disposable income and not interrupt the customer journey unless the check raises concerns. Where this is not possible, information may

need to be collected directly from the customer, including potentially via open banking. Any account with a £2,000 net loss within a rolling 90-day period would also trigger these enhanced checks. It is proposed that the investigation thresholds be halved (to £500 net loss in 24 hours and £1,000 in 90 days for enhanced checks) for those aged 18-24.”

Could these new checks deter casual gamblers?

Having their financial background assessed could be a put-off for some customers, especially new bettors as they don’t want to grant access to that data. Cheek says: “While the primary

aim of these checks is to prevent individuals from gambling beyond their means, there is a possibility that casual gamblers may find the process invasive. It will depend on how the checks are implemented and whether they strike the right balance.

“The Government will need to carefully consider the potential effects on different segments of the gambling population, to ensure the new checks do not discourage casual gamblers unnecessarily. Operators will also need to make sure checks are completed as efficiently as possible to minimise any potential dropout. Increasing the adoption of technology and digital compliance


platforms seems like the most logical move to streamline this process for customers and ensure businesses can access all the necessary information regulators demand.”

On this topic, Firth tells Gambling Insider: “It is expected that around 20% of accounts will be subject to a financial vulnerability assessment and around 3% of all accounts to an enhanced check in the first year the new measures are in place. Most customers do not lose enough to trigger the investigation thresholds. The checks are aimed primarily at detecting and preventing problem online gamblers rather than money laundering, but both share similar red flags. There should be a very limited impact on the average gambler who is not engaged in harmful gambling or money laundering.”

To make the affordability checks as frictionless as possible, Firth suggests cutting-edge technology and data, from credit agencies and banks, could be the answer. He tells Gambling Insider : “To implement the checks while maintaining a smooth and frictionless process, there are a few areas that gambling companies could explore. Cutting-edge technology could help automate the process with the support of aggregated data from credit agencies and banks, to gain a comprehensive view of a gambler’s financial situation in real-time.

“Operators should already be well versed in utilising technology to mitigate the increasing compliance burden. Ditching manual checks for electronic verification and digital onboarding is essential to not only meet the demands of regulators but to provide customers with a frictionless experience. A by-product of these checks will be greater oversight of potentially fraudulent behaviour. With anti-money laundering failures, a key contributor to the multi-million -pound fines dished out by regulators, a digital compliance strategy will enable operators to safeguard clients and their business as a whole.”

Are affordability checks necessary?

Some could argue that, as an adult, you are responsible for your own actions. Therefore, if you are spending more than you can afford, it is up to you to put a stop to it. Likewise, casual bettors might not want to grant that data to operators just to place small, infrequent bets. However, addictions

are undeniably a factor when it comes to gambling, so affordability checks can be a good way to control problem gambling. Are affordability checks thereby truly necessary?

Cheek sees both sides: “It is a matter of balancing responsible gambling measures with individual freedom and choice. While the specific threshold is subjective and open to debate, affordability checks can be beneficial in identifying potential gambling -related harm, especially for individuals spending significant amounts. These checks help ensure that individuals are not gambling beyond their financial means and protect them from potential financial difficulties. However, it is important to consider the feasibility and practicality of implementing such checks, and strike a balance between consumer protection and personal freedom in the context of gambling regulations. “

Detecting money laundering

Gambling has been known as a common way for criminals to launder money, so, with that in mind, how can the changes in the White Paper prevent money laundering? Firth comments: “Alongside assessing the risk of harm, the new checks will allow operators to fulfil their wider ‘know your customer’ obligations; for instance, by considering customers’ source of wealth and whether that presents any additional risks, such as possible links to money laundering or other crime.

“The checks will provide operators with additional customer data points that should allow them to identify

red flags associated with money laundering breaches, including high spending relative to income and sustained heavy losses, which can be markers of gambling using the proceeds of crime (involving stolen credit cards and false or stolen identification, for example) and attempts to disguise the true source of funds (mule accounts).

Firth continues: “The new requirements – not only the proposed checks but also the increased powers to disrupt illegal gambling and the shift to a big-data approach to operator compliance – should help combat the risk of money laundering in the sector. However, there are extensive AML obligations already in place for operators to abide by, which, as is clear from the Gambling Commission’s long list of recent enforcement actions, continue to be routinely breached. Although gambling is unlikely to be the most efficient way of laundering significant amounts of cash, criminals will inevitably continue to find a way to allow the proceeds of crime to flow through the sector.”

All in all, in regards to the White Paper affecting payments, it seems as though operators will have to move from manual checks to electronic verification to provide a smoother experience for customers. From what both Cheek and Firth have told us, increasing the adoption of technologies would be the main way to ensure payments are frictionless and that money laundering isn’t overlooked. Even though the release of the White Paper came out at the pace of a snail, payments for UK operators shouldn’t be affected on a huge scale.

“It is expected that around 20% of accounts will be subject to a financial vulnerability assessment and around 3% of all accounts to an enhanced check in the first year the new measures are in place”
- Lloyd Firth

In focus: MiFinity

2022 saw a surge in the adoption of eWallets, not only for in-store purchases but also for online transactions. eWallets have become mainstream, with industries like iGaming driving the widespread acceptance of eWallets as a preferred payment method. Spearheading this trend is MiFinity, the iGaming eWallet provider. In the last 12 months, the MiFinity eWallet has experienced record new sign-ups, with 1,000s of new accounts created daily. In addition, MiFinity recently exceeded 500,000+ new customer accounts since its launch in 2017.

What’s driving eWallet adoption?

According to MiFinity CEO Paul Kavanagh, this is summarised in one word: ‘Convenience.’ “eWallets offer players a convenient and secure way to fund their accounts, make withdrawals and manage their funds seamlessly.” Kavanagh continued, “We’ve invested significantly in creating frictionless and user-friendly experiences for players, which are infinitely more convenient than other payment methods as well as having much higher acceptance rates too.”

Traditional payment methods often entail lengthy verification processes and delays in transaction approvals, and can also result in bank refusals. In contrast, eWallets like MiFinity offer instant deposits and withdrawals, eliminating unnecessary delays and providing players immediate access to their funds. The speed and efficiency of eWallet transactions have resonated with players, resulting in a significant shift towards their adoption. The versatility of eWallets has

also contributed to their adoption on a global scale. For example, the MiFinity eWallet supports multiple currencies, languages and local payment methods, enabling players to engage in online gambling without the hassle of currency conversions. This global accessibility has opened new opportunities for international players, fostering a more inclusive and diverse gaming community.

User experience is vital to sucessful iGaming eWallets. Besides convenience, the other key factor differentiating the MiFinity eWallet is its outstanding user experience. This, in turn, equates to high conversion rates. MiFinity has announced several new developments over the last 12 months to ensure its customers receive a best-in-class user experience every time they use their MiFinity eWallet. These include:

New mobile app and desktop UI

Using the latest app architecture, the MiFinity app provides customers with an enhanced and secure experience that makes managing online payments simple. Its intuitive layout and design allow customers to deposit funds, make payments, and send money quickly and securely. When a customer downloads the app, their experience is optimised for a frictionless payment journey. Signing up for a MiFinity eWallet takes seconds, and biometric login is fast, convenient and provides customers with an added layer of security. From the homepage, customers have complete visibility of all their recent transactions and

can easily choose the services they require to manage their money.

Advanced iFrame technology

By integrating the MiFinity iFrame into the brand’s cashier, iGaming companies can increase conversions. The MiFinity iFrame allows customers to fund their iGaming account from their MiFinity eWallet without leaving the site. Non-customers can even sign up for a MiFinity eWallet directly at the cashier and transfer funds immediately. As part of MiFinity’s 2023 product roadmap, the company will soon launch a new iFrame with enhanced functionality to improve user experience and conversion rates.

MiFinity Affiliates

MiFinity Affiliates, launched in 2022, is one of the most competitive affiliate programmes in the industry, paying up to 35% and with commission paid on all transfers to and FX fees. It is another excellent example of how MiFinity drives growth across the iGaming industry. The MiFinity Affiliates team works closely with partners providing marketing support and affiliate tools, and offering bespoke campaigns to help increase conversions and generate more revenue. Innovations include, a dedicated site showcasing exclusive deals and offers from MiFinity’s partners. This website allows iGaming brands to deliver timely, relevant and personalised offers to their most engaged customers. As the demand for secure, convenient and efficient payment solutions in the iGaming industry grows, MiFinity has positioned itself at the forefront of the digital wallet revolution.

Paul Kavanagh, CEO, MiFinity

In focus: PayNearMe

Reimagining the Payout Experience with MoneyLine

The payments landscape in the online betting space is fragmented and complex. Oftentimes, operators rely on standalone solutions that address specific challenges, but fail to provide a cohesive, seamless experience. As a result, it becomes cumbersome for operators to foster innovation, while emerging operators struggle to enter the market quickly. One common pain point players encounter is the difficulty of extracting winnings from iGaming/sports betting platforms. Players don’t always have the options they want, and the options they do have often take a long time to process.

According to, a totally satisfied customer contributes 2.6x as much revenue as a somewhat-satisfied customer. In addition, research from PayNearMe and Sapio revealed that 49% of bettors would play more and withdraw more often if they had access to preferred payout methods. As new players decide when, where and how they’ll spend their money betting online, player experience will play a role in shaping the future of the gaming market. For operators, offering fast, easy and seamless withdrawal options will be critical for attracting and retaining players.

With MoneyLine, powered by PayNearMe, operators can offer players a range of instant payout options – in a single, unified experience – from the same platform that manages their deposits. Players can withdraw their funds via PayPal, Venmo, ACH, debit card and our latest innovation, Cardless Cash at ATM.


Our payout methods are fast. Players can receive funds in as little as a few minutes. Our payout methods are convenient. Whether players want to deposit their winnings into their bank account, transfer to their debit card or a mobile wallet such as PayPal or Venmo, or receive cash, they are in complete control of how they choose to withdraw their funds.

Finally, our payout methods are innovative. PayNearMe’s Cardless Cash

at ATM feature is a revolutionary way for players to instantly withdraw their winnings in cash at local ATMs – with nothing but their mobile phone – completely eliminating the need for a bank card.

If a player selects “Cardless Cash at ATM” to withdraw their winnings, they will be directed to any of the nearest participating ATM locations – which number in the tens of thousands across the US. From there, they’ll follow a quick series of instructions that allow for the secure withdrawal of funds using only their mobile device. Cardless Cash at ATM isn’t an incremental improvement to a commodity service; it is a completely new and game-changing innovation for US-based iGaming and sports betting operators.


When it comes to managing backend operations, less is more. Typically, operators have to manage multiple, separate accounts depending on the type of payout options they offer. Due to the fact that some of these payment methods have unique requirements and procedures, managing payouts for each withdrawal type can be tedious and repetitive. For ease and efficiency, PayNearMe offers operators one principal FBO account – an account which allows a company to manage funds “for benefit of” their users

– to fund all payouts. By streamlining the backend operations of payouts, operators free up their resources to focus on their players, while maintaining full control of their funds.

“I’ve been really impressed with the speed of MoneyLine’s debit and ACH withdrawals. We’re seeing funds appear in accounts within a couple of hours,” said Andrew Patterson, President, Sahara Bets.

This robust suite of payout methods offers operators the innovation they need to solve many common challenges, while allowing them to meet changing player expectations, drive up retention and improve operational efficiency. The MoneyLine platform 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. PayNearMe has been servicing the iGaming market since 2013 and is currently active in 22 regulated gaming markets 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.MoneyLine, powered by PayNearMe, offers all the capabilities operators need to offer an exceptional payment experience.

To see the platform in action, visit our website or email


On the horizon: Africa’s payments future

payments market in Africa

Gambling Insider discusses

as what the next steps are for payments solutions on the continent

When thinking about the African continent, many images are conjured. From the vast terrain of the Serengeti, where a myriad of animals exist – and hundreds of dentists from America flock to picture from the back of a Jeep – to the expansive Sahara desert, where the yawning sea of sand takes a person into Frank Herbert’s celebrated sci-fi novel Dune and the planet of Arrakis. However, aside from the clichéd images of Africa, it is a continent that is quickly becoming the next big market for gambling payments companies.

The more and more African countries regulate and open up to gambling, the more of a rush there is to quickly gain a foothold and significant market presence there. Payments systems and software business has followed the early crowd to Africa, where a select few companies are now getting in ahead of the rush where each can, now that Africa has begun to embrace the industry.

However, the biggest driver and thereby need for fast payments software in African nations right now isn’t the spread of sports betting or

iGaming, it is the reach of the World Wide Web. Many nations in Africa only possess limited access to internet connectivity, so as those places are able to access it further, the more payments solutions become a necessity – in gambling and various other industries. Delving deeper into payments in the African market, Gambling Insider speaks to payments supplier MiFinity about the big questions that face the continent’s payments solutions; and what the future holds for the gambling markets there.

Paul Kavanagh – MiFinity

Speaking to Gambling Insider , Paul Kavanagh, Co-Founder and CEO of MiFinity, discusses the key themes surrounding African payments.

How does the payments market differ in Africa from other continents, such as LatAm or Europe?

“Many parts of Africa still have a large unbanked population, so traditional banking solutions have yet to be available to many. However, Africa’s payments mix is evolving rapidly,

with banks and non-bank players innovating to reduce friction in domestic and cross-border payments. Africa has a unique mobile money landscape, with a large majority of the population accessing financial services through mobile devices. Mobile money platforms like M-Pesa in Kenya have gained widespread adoption and have revolutionised the payments market in Africa. This level of mobile money penetration is not as prevalent as in other continents.

“It also has a significant informal economy, where many transactions occur outside of any formal banking system. As a result, alternative payment methods such as cash-based transactions and informal networks play a significant role. Another factor that sets it apart from other continents is Africa’s large diaspora population. Remittances from abroad play a crucial role in the continent’s economy, so specialised services and platforms have been developed to cater for this specific need.

“Against this backdrop, in recent years, the region has seen some of the fastest growth in digital payments;

how the
is evolving, as well

eWallets see the highest adoption, as they address many of the requirements of this unique market.”

Is internet reach a significant factor in the mobile payments need across many African markets?

“Absolutely. In 2022, the value of mobile money transactions in Africa reached $836bn, up 22% from 2021. Access to the internet is a key enabler, not just for mobile payments but also for engaging in broader socioeconomic factors. The combination of internet reach and growing mobile penetration rates in many African countries is paving the way for digital payments like eWallets. In total, 83% of the population in Africa is covered by a mobile broadband network, with 61% owning a mobile phone. While there is a usage gap between those with access to the internet and those that use it, the mobile penetration rate in Sub-Saharan Africa has risen significantly in the last decade; and growth is expected to continue well into 2025 and beyond.

“The advent of eWallets has made it possible for people who were previously excluded from the financial system to participate. If you have a mobile phone and internet access, you can create an eWallet account and use digital payment solutions. Internet reach has also created the right environment for some African countries to implement government-led initiatives to drive digital payments adoption and financial inclusion. For example, in countries like Nigeria, government policies have promoted

electronic payment systems and reduced reliance on cash transactions.”

Is Africa the new LatAm?

“There are certainly parallels. Africa and Latin America have fast-growing populations and increasing access to mobile internet. Africa and LatAm are also the world’s fastest-growth regions for digital buyers.

between Africa and Latin America. For this reason, it’s essential to partner with payment service providers with in-market expertise to ensure a deep understanding of each region’s specific nuances and requirements.”

A complex savannah

“However, there are differences. For example, LatAm’s smartphone penetration initially helped drive online shopping and digital payments followed later. Whereas in Africa, mobile usage has been the foundation for payments and financial inclusion, with purchasing digital services an evolution of this. Both regions are seeing significant eWallet growth and adoption, with Africa experiencing the fastest growth in eWallets compared to Latin America, indicating strong potential for the eCommerce and iGaming markets.

“Despite the similarities between these two continents, it’s important to note that Africa and Latin America have unique characteristics. While both regions have seen advancements in mobile technology and digital payments, the specific dynamics of their payment markets can vary significantly. Factors such as regulatory frameworks, consumer behaviour, and infrastructure development can shape the differences

The African market is a complex savannah of different countries, all of which see gambling differently – with vastly opposing opinions in some places – from near-total bans in the likes of Eritrea, to a rapidly expanding presence in others like South Africa. Gambling’s expansion is dependent on how quickly payments systems can implement software platforms across the continent. But, as MiFinity highlighted, there are vast similarities between the LatAm market a few years ago and the African market now. As digital purchasing increases among increasing populations, the need for payments solutions is rising very quickly.

Though there are also glaring differences – particularly with the usage of smartphones within the population – it seems that a few years from now, the African market could be the next big investment for gambling companies around the globe. Right now, significant swathes of the African continent are still in the process of implementing the infrastructure to support stable internet connections, which is the foundation for the expansion of payments companies. However, it is when those members of the African population gain further access to smartphones that the rest will seemingly fall into place, as the continent looks to become the world’s next big online betting market – with payments an intricate and essential piece of that puzzle.

“Africa has a unique mobile money landscape, with a large majority of the population accessing financial services through mobile devices”

Crane Payments Ushering in a New Age of Gaming Payments


Industries are constantly innovating to meet the dynamic needs of consumers and few technologies have undergone such rapid change as payment systems. Recent legislative changes and the proliferation of new technologies have made payment evolution for casinos possible in an industry that has been historically restricted in adopting alternative forms of payment. Cashless payments have been shown to increase players’ visits per week, increase the time spent on machines and increase revenues by upwards of 20%. Yet few have adopted this technology. As industry executives unanimously anticipate an economic slowdown, it begs the question: why aren’t US operators jumping on the cashless bandwagon?

By embracing the early adoption of cashless payments, casinos can position themselves to reap compounding benefits as consumer adoption ramps up. According to a report by the Pew Charitable Trusts, 56% of US adults have made a mobile payment in the past year. Many of these users are younger, proving the power of mobile payments to appeal to new generations of customers.Operators are hesitant to adopt cashless payments due to the perceived complexity and challenges associated with it. However, this doesn’t have to be the case. The most intuitive approach is to work with

your existing payment partner to expand upon your current payment capabilities.

By upgrading your existing payment technology, your casino will reduce the need for additional labour to manage cash, strengthen your security and eliminate costly infrastructure upgrades that come with the outdated technology of Casino Management Systems (CMS). Regulators can also reap the benefits of cashless payments by gaining easy access to patrons’ gambling habits and know your customer-type information. With the adoption of cashless payments, casinos are seeing new waves of consumers that are attracted to gambling with the same technology they use in their everyday lives. These patrons can enjoy easy, uninterrupted playing without having to get up from their seat or worry about running out of cash.

Integrating mobile payment technology throughout your property also enables players to shop at retail outlets, entertainment venues and even tip staff via their mobile wallet. The result is a completely traceable, seamless payment ecosystem that delivers an excellent experience while maximising operator revenue.


Enabling cashless payments can be challenging – antiquated technology infrastructure and expensive upgrades

present often insurmountable barriers to adoption. However, going mobile doesn’t have to be operationally traumatic. Casinos can leverage the payment devices they already have to offer mobile payments. By upgrading an existing SC Advance banknote validator with a Bluetooth module, operators can turn on cashless payments without the operational overhaul required by alternative methods.

The SC Advance operates in conjunction with Global Payments’ VIP Mobility app to allow customers using slot machines to pay directly from their phone’s mobile wallet. VIP Mobility enables guests to create digital TITO tickets and pair their device to a machine via a QR code, offering a seamless way for patrons to play and manage their funds from their phone.


Cashless payments benefit all parties involved in the casino industry, including consumers, operators and regulators. As the industry advances, regulations will continue to evolve, favouring consumer preferences, operator requirements and technologies that effectively address responsible gaming and know your customer best practices. In thinking about cashless technologies, operators should choose partners that are able to adopt for the long term, with technologies that can adapt to whatever form “cashless” takes in the future. Just as TITO is now complemented by mobile wallets, the future of cashless may take many forms.

CPI solutions are built to not only be your cash payment enabler, but the central hub of everything payment -related in your casino. Whichever payment method emerges as the future of gaming – whether cash, cashless or card – the SC Advance is equipped to handle it.

In focus:
“CPI solutions are built to not only be your cash payment enabler, but the central hub of everything payment-related in your casino”

In focus: OKTO

Pioneering the Payment Path to Success

In the rapidly evolving world of payment solutions, one company stands out for its innovation and reliability: OKTO. Since its inception, OKTO has been at the forefront of providing cutting-edge payment solutions tailored to the unique needs of retail, online and omnichannel gaming businesses. With a steadfast commitment to excellence and a knack for turning challenges into opportunities, OKTO has established itself as a trusted leader in the market.

OKTO specialises in delivering comprehensive payment services that empower organisations to thrive in today’s competitive gaming and betting landscape. From cashless gaming solutions to eVoucher cashbased payment methods, local payment methods, cross-border transactions and payment aggregation services, OKTO offers a diverse range of payment solutions customised to meet the specific requirements of its clients, while considering regional nuances. By leveraging the latest payment technologies and industry best practices, OKTO helps merchants streamline their payment operations, boost productivity and achieve sustainable growth through digital payments.

One of the key factors driving OKTO’s success is its ability to overcome obstacles. Throughout its journey, the company has faced numerous challenges posed by rapidly changing market dynamics, integrating with legacy gaming systems and machines, and stringent regulatory demands in the gambling and payments sectors. However, OKTO’s resilience and unwavering commitment to providing responsible and compliant services have enabled it to navigate these hurdles and convert them into catalysts for innovation. By embracing change and staying agile, the payment provider consistently adapts its strategies and solutions to meet the evolving demands of the gaming industry, earning a reputation as a trusted partner and expert in last-mile payment solutions.

Operators choose OKTO because they recognise the transformative impact that the company’s payment services can have

on their operations, whether they are retail, online or omnichannel businesses. OKTO’s solutions are designed to optimise payment processes, enhance efficiency and unlock hidden potential. With a focus on delivering measurable outcomes, the payment provider ensures its operator partners achieve tangible benefits that directly impact on their bottom line. OKTO’s impressive track record is a testament to its widespread appeal among operators. Companies of all sizes and across various gaming sectors have benefited from OKTO’s payment expertise. From small online operators looking to establish frictionless cash-based, or local payment methods to high-street retailers and casinos seeking to expand their omnichannel or cashless payments strategy, OKTO’s services are scalable and customisable to suit the unique requirements of each client while promoting responsible gaming initiatives.

When it comes to responsible gaming, OKTO takes it seriously; the company believes that comprehensive know-your -customer (KYC) and anti-money laundering (AML) measures, seamlessly integrated into payment services, are the key to increasing responsible gaming initiatives. This integrated approach not only enhances responsible gaming efforts but also improves customer acquisition through real-time onboarding, creating a better customer experience. Retail operators can streamline their customers’ journey, automate the onboarding process, reduce fraud and achieve regulatory compliance with OKTO’s integrated payment solutions. The payment experience on the high

street has often been neglected, with retailers typically outsourcing payment responsibilities to banks or relying on cash transactions. However, OKTO recognises the potential in integrating payments into the value proposition of retail operators. Leading operator partners across Europe and the UK have started developing strategies to tap into the largely untapped opportunity for revenues, improving profitability and engaging consumers with an integrated payment strategy.

Creating an omnichannel payment experience that aligns perfectly with the gaming industry requires a deep understanding of the customer journey and the various touchpoints where players interact. OKTO has the experience, partner integrations and solutions to navigate these complex ecosystems. Key factors include providing a seamless and consistent payment experience across all channels, utilising data to personalise interactions and integrating innovative solutions that cater to the needs of modern players.

In the retail gaming landscape specifically, OKTO focuses on offering solutions that improve the customer experience by making payments almost invisible, removing friction from the purchasing process. OKTO strives to simplify the payments ecosystem by creating cashless payment options tailored to each operator’s demands, whether it’s OKTO.WALLET, a white-label wallet or a quick and direct payment journey facilitated by the innovative retail payment gateway, OKTO.DIRECT. The company recog-nises that payments extend beyond card acquiring and bank transfers, and it considers localisation and the inclusion of local payment methods essential components of every solution it designs. In conclusion, OKTO’s dedication to innovation, commitment to responsible gaming and ability to provide tailored payment solutions have positioned it as a leader in the gaming payment industry. With a focus on optimising the customer experience, streamlining operations, and driving growth, OKTO continues to pioneer the path to success in the payment landscape.


The future of LatAm payments: Embracing digital

Gambling Insider takes a look at gaming payments companies operating in the LatAm market

It is an unsung part of the gambling industry that largely goes unnoticed by the individual player holding an iPhone; yet it is the thing that has to happen at the end of the person’s decision to bet – and the most important part of any transaction – payment. In the gambling industry, payments are a process that few end customers think about until it stops being slick and becomes difficult, thus leading to the loss of players willing to use a platform – due to the faff of having difficulties at the final stage.

In the LatAm market, payments are now the focus of gaining market share. Legalised sports betting has come to the continent and it has been met with widespread enthusiasm from players across the board.

we at Gambling Insider explore LatAm gaming markets and what the biggest challenges are for payments businesses in the region.


The ease of making transactions is seen as a huge plus in the fast-growing region, as each operator wants to offer players the smoothest and sleekest experience possible. Below,

Speaking with Gambling Insider on the subject of payments, Okto’s CCO of LatAm, Lawrence Levy, sat down to give his insight on the state of the market. In talking about the speed of growth in the LatAm region, a trend that a significant portion of the industry has its eyes on, Levy highlighted several salient points in his comments, such as the increased use and penetration of smartphones – and the internet. “The surge in digital payments adoption can be attributed to various factors, including increased internet and smartphone penetration, a rise in e-commerce activity and the expanding middle class. As a result, there has been a substantial increase in the number of individuals utilising digital payment methods such as mobile wallets, online transfers and alternative payment solutions.

It’s worth noting that while the market’s expansion is remarkable, it still retains its unique nuances.”

Levy’s comments about the expanding middle class showcases the impact of broad economic factors on the payments market, as well as the industry as a whole.


Furthermore, Levy also brought the cultural differences in player preferences in the LatAm market into focus: “One notable difference is the high reliance on cash-based transactions in certain parts of Latin America. Cash is still widely used and preferred by a signifi cant portion of the population, especially in more rural areas.”

“One-by-one the dominos are falling and payments solutions are reaping the rewards of regulated markets”

Levy continued by then discussing how the market is moving further towards digital payments – but caveated his comments about the broader continent: “We are seeing a shift towards digital payment methods, particularly among the younger and urban populations. Of course, this depends on the region. The convenience, security, and access to a wider range of goods and services offered by digital payments are becoming increasingly attractive. It’s essential for businesses to understand these nuances and provide a diverse range of payment options to cater to different customer preferences in the region.”


Concentrating on the customer experience, Levy spoke about how ease of deposits plays a huge role in what is the ultimate goal for a payments solution: customer retention. Levy told Gambling Insider: “Customers expect seamless and efficient payment processes, particularly when it comes to depositing funds into their accounts. In an era where instant gratification is the norm, delays or complexities in depositing funds can lead to frustration and potential customer churn. Offering fast and hassle-free deposit options not only enhances customer satisfaction but also instils a sense of trust and reliability in the brand.”

Meanwhile, Levy spoke about the increasing intensity in the LatAm payments market, saying: “The payments market in Latin America is experiencing a significant rise in competition. As the region undergoes rapid digitalisation and the adoption of digital payment solutions continues to expand, both local and international players are entering the market to take advantage of this opportunity. This influx of competition is fuelling innovation, resulting in the introduction of new payment technologies, improved user experiences and more competitive pricing structures.”


Finally, Levy also highlighted regulatory moves and collaborations as areas that are pushing the payments market further: “Regulatory changes and collaborations between financial institutions and fintech companies are further heightening the level of competition.”

Additionally, he noted which LatAm

countries were becoming more of a focus: “Brazil, Chile, Peru, and Mexico have become particularly attractive and competitive landscapes. The combination of a large population, increasing digital adoption and evolving consumer preferences, create fertile ground for companies looking to establish themselves in the Latin American market.”


Levy’s comments come as an affirmation to what insiders know about the market. It is expanding quickly and has been for a long time now. LatAm has been heralded as the next big market – this is no secret – it is for that reason that payments operators and suppliers are eager to get their digital wallets and wider systems a clean slice of market share across the continent.

It seems as though there is a new story about a payments company entering or expanding in the LatAm market every week. Recently, Thunderkick signed a deal with Rushbet to freshly enter the continent’s market. Meanwhile, AstroPay is an ever-present force in South America, having been signing deals with operators for years. Even Paysafe, which usually centres its business in North America, has been making moves into the LatAm market, too – entering the Argentinian space in August 2022.

However, one of the most important and significant factors in the rise of the need for secure payments solutions in LatAm is the sports betting market becoming fully regulated. As countries look to cash in on the practice – by taking a cut of taxes from operator, suppliers and affiliate income there – on a wider basis, it feels like a new chapter in what is now required to operate successfully across South America. As countries such as Argentina have come to embrace sports betting as another form of entertainment for

the masses, payments solutions are more and more in demand for those that want the ease of betting on their phone – a trend that’s being driven by the young people in urban areas, as Levy highlighted in his comments. As the South American continent has caught up to its North American cousins in having digital payments solutions widely available, the homogenisation of how people want to receive their money – namely by it being deposited into their accounts immediately – after winning has led to where the market stands now.


This is a case of dominoes, once the early adopters of gambling regulations began to flourish, the rest wanted in on it too. Many are now beginning to look keenly at Brazil, in the expectation that gambling reform is just around the corner. In fact, the only reason why Brazil hasn’t yet adopted fully regulated gambling reforms is down to the fact that the political instability in the country meant the new bill, which had been agreed and were ready for Presidential sign-off, became lost in the Bolsonaro election storm. However, one-by-one the pieces are falling and payments solutions are reaping the rewards of regulated markets that are themselves benefitting from the advent of online and mobile sports betting.

Of course, there is more happening with mobile betting than just sports – iGaming and online casino are playing a role, too, though those verticals are perhaps not driving the growth as much as sports betting, due in part to the popularity of football in LatAm countries. As more payments companies turn their attention to the LatAm region, and the money to be made there, the next few years could prove to be something of a fight for those involved – as players demand the easiest and slickest transactions going forward.

“The region undergoes rapid digitalisation and the adoption of digital payment solutions continues to expand”

In focus: Trustly

Trustly is a global payment method. We link the world’s top brands with millions of consumers who instantly transfer, pay and get refunded in the most secure and convenient way. We forged a path for Open Banking, leading from the front to create a platform where we innovate beyond the sector we inspired.

We handle the entire payment journey at an unmatched scale, transforming the performance and experience of payments for over 8,300 merchants in 33 markets, connecting them to 650+ million consumers through 12,000 banks. We are a licensed Payment Institution under the second payment services directive (PSD2). We operate under the supervision of the Swedish Financial.

Trustly was founded in 2008 in Stockholm. Our first product was an instant payout service that could send funds directly into a user’s bank account. Trustly pioneered the creation of instant pay-outs by utilising intrabank connectivity – our innovation has redefined the speed and convenience of withdrawals for players, and is quickly becoming the industry norm across Europe and beyond.

Trustly went live with merchants in 2008 and added an instant pay-in product shortly after. The first investment round was completed in 2009 and the first office outside of Sweden was established in Malta in 2010. The company’s leadership team joined other pioneers in Open Banking to advise the EU on the sector’s needs and opportunities – leading, in part,

to the creation of the landmark PSD2 regulatory framework.

Trustly expanded services to 21 new markets by 2015 and introduced Pay N Play in 2016 – a revolutionary gaming user onboarding product, which has since become the industry standard in Sweden, Finland and Estonia. In 2020, Trustly processed over SEK 19bn ($1.77bn) in transaction volume across the global network and connected around 2500 merchants and 1400 new banks, while broadening reach by more than 55 million consumers. By 2021, Trustly had surpassed $10bn in processed payments in North America alone.

Trustly is rooted in Open Banking but our unmatched bank connectivity and proprietary tech allows us to build, and innovate, beyond the sector we inspired.

• Trustly’s full-service capability offers a complete payment experience to merchants rather than simply initiating deposits. This includes management of collection, settlement, reconciliation and FX to drive efficiency for operators to aid a true plug-and-play payment method.

• Trustly has extensive bank coverage with a clear focus on payment solutions, as opposed to others who approach more with a data perspective. Add to this Trustly’s 15-year history and legacy of working with banks to resolve technical issues for a reliable platform with minimal errors.

• Trustly develops, owns and maintains its infrastructure end to end.

Competitors leverage the integration and technology of other services, which limits their ability to innovate and fully

control the payment experience. With our roots firmly in the gaming industry, and with a solid track record of delivering success for operators in our home market of Sweden and beyond, we have developed strong relationships with leading gaming brands. We partner with over 300 of the top gaming brands. Our products are used across all gaming verticals, including sports betting and casinos. We launched our flagship player onboarding product Pay N Play in 2015 to great success. Pay N Play combines deposit and verification into one seamless flow for a speedy solution that improves conversion, reduces churn and slashes operational costs. Pay N Play is currently live in Sweden, Finland and Estonia, where it has transformed playerexpectations by significantly improving onboarding and simplifying verification. Pay N Play has established itself as the industry leader in those markets, and is now an essential part of the gaming ecosystem. Trustly expanded its next-generation Pay N Play product to the Netherlands in 2022, which combines end user data from three different sources with deposit to create an onboarding experience that takes three minutes, as opposed to the hours or days previously experienced. Pay N Play in the Netherlands signalled once again Trustly’s intention to improve experiences for both operators and players wherever the challenges are greatest. Trustly plans to continue expansion into the coming months and years, with Pay N Play UK already in the works and Denmark, Germany, France and Italy lined up for the future.


In focus:

Pavilion Payments

In April of this year, Global Payments Gaming Solutions formally split from its parent company, Global Payments, to become a standalone organisation named Pavilion Payments, one of the broadest and most innovative vertically integrated payment providers focused on the gaming industry. Aside from just the change in name, the transition to Pavilion Payments has also been an opportunity to reorientate the company and fully focus its efforts towards serving the gaming industry. Pavilion Payments offers the same technology with a renewed commitment to client-driven success, 360-degree integration and targeted innovation. The transition to Pavilion Payments has been a chance to grow its business and expand its role in the gaming industry payments

Since becoming Pavilion Payments, the gaming industry payments provider has dramatically expanded its business. Being client success-driven means that Pavilion Payments puts its clients’ needs at the forefront of everything it does. It involves understanding clients’ businesses, challenges and goals, as well as using that understanding to provide personalised solutions that help them succeed. Earlier this year, Pavilion Payments extended its relationship with eight online gaming institutions to utilise its iGaming payments solutions. In addition, 13 iGaming casinos have implemented online bank credentialing for Pavilion Payments’ industry-standard e-check/ACH network, VIP Preferred. By delivering reliable and consistent services and providing personalised service and support, Pavilion Payments helps its clients achieve their goals and succeed in an ever-changing gaming industry. Pavilion Payments has hired several new personnel in key strategic positions to expand its business to further the commitment to growing its organisation by 50%, to better serve its customers.

Instead of having siloed payment systems for in-person and online, Pavilion Payments offers a single solution. Pavilion Payments’ e-check network, VIP Preferred, enables the

fastest, easiest and safest payment process by integrating seamlessly with various gaming platforms, providing a state-of-the-art payment experience for users. VIP LightSpeed, part of the VIP Preferred vertically integrated suite of solutions, facilitates faster, more efficient and secure check -cashing transactions. VIP Preferred allows for patrons to use online bank credentialing for enrolment, which eliminates manual errors and circumvents one of the greatest barriers to entry for cashless gaming. VIP Preferred utilises bank-grade security to ensure all transactions that connect to more than 400 in-person and online gaming institutions and have more than 3 million registered users across the country.

Pavilion Payments is investing in targeted innovations for the gaming industry to provide new and innovative solutions for brick-and-mortar and online gaming institutions. VIP Mobility is a part of the VIP Preferred vertically integrated suite of solutions and the industry’s first mobile solution enabling true cashless gaming. VIP Mobility creates a modern payments solution that puts the speed and convenience of VIP Preferred in the casino patrons’ hands. VIP Mobility’s system-agnostic approach allows for easy implementation on the gaming institution’s part and integrates easily into its existing payments program. Patrons can use VIP Mobility to pay for services all across the property, including bars,

restaurants and other resort amenities. VIP Mobility provides a modern, unified payments experience that will have patrons excited to return.

Pavilion Payments creates innovative, forward-thinking technology that utilises the latest advancements in payments technology. Pavilion Payments’ latest innovation, iGaming Software Development Kit (SDK), offers operators a seamless and efficient solution to integrating Pavilion’s iGaming technology. The iGaming SDK is highly customisable and will enable casino operators to easily integrate Pavilion Payments’ other innovations including SameDay ACH, Credit/Debit acceptance, Real Time Payments (RTP) and risk enhancements without additional development by the operator.

The transition to Pavilion Payments has been a chance for the organisation to focus all its efforts on creating the gaming industry’s best payments technology and serving its customers. Pavilion Payments understands that its clients’ success is key to their own success, recognises the significance of targeted innovations for patrons and prioritises a 360-degree integration of payment solutions; to enable secure and seamless funding across all locations, devices and channels. The coming months will be vitally important for Pavilion Payments as it continues to grow into its new brand, and distinguishes itself as a broad and innovative vertically integrated payment provider focused on the gaming industry.

“Pavilion Payments helps its clients to achieve their goals and succeed in an ever-changing gaming industry”
Christopher Justice, CEO, Pavilion Payments

The path to profitability is paved with choice

PayNearMe spoke to Gambling Insider about the current evolution of the US payments industry

Payments within the US have historically been neither ahead nor behind an overarching industry curve. Though the States did not see contactless payments launch until 2014, a full seven years after the UK, PayPal, Venmo and Google Wallet all had their humble beginnings in the US. It may be hard to picture the traditional high roller without a crisp stack of bills contained by an ornate money clip, but casino floors are continuing to adapt to the world outside their resort doors, and online casinos already make it possible for players to pay their way. For both convenience and security, it seems players of all levels, and at both types of casino, may prefer a cashless option. However, it may not be the lack of cash, but the presence of options that really satisfies casino patrons’ wishes both on and offline. The US is a diverse market with many different ideas and plans for the future of gaming and betting; but all

of those plans seem to include multiple, varied possibilities to suit every kind of player. If a payments company can capitalise on providing more than one service, with the necessary security and convenience built in to each feature, then its efforts can truly ‘pay off.’

Gambling Insider asked a representative from PayNearMe (company profile on page 16), a billing and payments platform with both processing and management solutions, to provide insight into the rise of two forms of payment within US casinos industry. Financial technology companies, such as the aforementioned PayPal and Venmo, are growing into a ubiquitous form of fund transfer, but what are the advantages of transferring online rather than using the same bank card linked to that account? Digital wallets now also allow players to not only link their payment details and bank cards to

an app, but also store other important information. A player could potentially access their event tickets, loyalty cards, membership cards, gift cards, plane tickets, hotel reservations and more – all vital to their stay at a casino resort – from one convenient spot on their device.

With the rise of iCasinos, iGaming and online transactions in general, online payment capabilities seem like an obvious parallel path to success. However, many land-based casinos may soon also see cash as an option, rather than the standard.


Speaking to Gambling Insider, Leighton Webb, VP and GM of Online Sports Betting and iGaming at PayNearMe, discusses the rise of payments beyond cash and card. Webb has been part of the broader gaming industry for 20 years, with 10 years’ experience in real-money gaming. In addition, he has launched and scaled digital consumer businesses for start-ups and world-leading brands including AOL, 20th Century Fox, The Oprah Winfrey Network and Ubisoft Entertainment.

How important is it to cater to players and bettors who prefer to use PayPal or Venmo in the US?

Players are looking for those familiar payment options they already use in their day-to-day life; they don’t want to have to download a new app or spend time manually entering bank account or card information. New and casual players especially would rather trust payment methods where their bank accounts or cards may already be linked, such as PayPal or Venmo. In our recent research, the most preferred deposit method was PayPal, with 64% of survey respondents stating its importance. Venmo was also a preferred payment method for 48% of survey respondents. For withdrawals,


the number-one factor for player satisfaction is speed. In that same research, 40% of players stated that it took more than a day to receive funds for an online gaming payout. In total, 49% went on to say they would play and withdraw more often if they had access to their preferred payout methods. So not only will the speed of the payout keep players coming back to your platform, the methods offered will get them to play more frequently. When players withdraw via PayPal, they’ll see their account balance update within just a few minutes.

Are you seeing an increase in the use of digital wallets? And if so, why do you think players gravitate toward them?

When it comes to digital wallets, it can be summed up in three words: “players want choice.” New and casual bettors can be sceptical and less likely to want to put in either their bank account or credit card information. To them, it feels more secure to use a wallet that they’re familiar with to “protect” them, so to speak. In contrast, it’s no secret that cards can be subject to higher decline rates than some of the newer digital payment types. Declines are a major player deterrent, and will quite literally scare players off. In research we conducted last summer, 17% of bettors who had experienced a

decline stated they had left that betting platform and never returned. For operators, decreasing your frequency of declines by offering deposit types that are more likely to be successful for players is key. I think in the near future, there will be a trend moving away from acquiring players “no matter the cost.” Instead, you’ll notice the operators who are able to find a path to profitability begin to pull ahead from those who don’t in the competitive market. Optimising payment margins is critical, and card declines are a detriment to those margins. If an operator does choose to accept credit cards, they’ll want to partner with a payment processor that’s familiar with gaming transactions and has experience with compliance, risk and fraud within the gaming space.

From analysing these trends, we can see that casino operators, both online and land-based, are beholden to their players’ desires to have three mutually beneficial factors underlying the overall payments experience: simplicity, security and speed. Any payments process should facilitate a player’s experience, rather than draw attention to itself with either extra steps for the player or any room for error on the operator’s part. The added security of digital transactions also gives both operators and players peace of mind when it comes to ‘knowing your customer.’ As technological advancements move both society and the gaming industry forward, US payments companies must focus on keeping up with what the modern player requires: options.

“When it comes to digital wallets, it can be summed up in three words: ‘Players want choice.’ New and casual bettors can be sceptical and less likely to want to put in either their bank account or credit card information”

In focus: Praxis

Orchestrating global payments in the gaming industry

As the gaming industry continues to evolve and expand across borders, businesses face the challenge of managing transactions across multiple payment service providers efficiently. This is where Praxis steps in. Founded in 2014, Praxis has emerged as a leading payment orchestration platform for merchants in the gaming industry.

Our comprehensive platform offers merchants a seamless and streamlined payment management experience, allowing them to optimise their payment operations and maximise growth. Our products are designed to increase transaction success rate, improve payment flow and create a seamless payment experience for customers – regardless of where they are in the world.

Today, Praxis proudly serves a vast network of gaming merchants, connecting them with over 540 Payment Service Providers (PSPs) and more than 1,000 Alternative Payment Methods (APMs) worldwide. In 2022 alone, our global network processed close to €bn ($3.23bn) in transaction volume, representing a doubling of the previous 12-month period. This growth reflects our commitment to facilitating secure and efficient payments, and being a top payments orchestration platform for merchants seeking to expand their business, enter new global markets and integrate with multiple payment solutions.


In the fast-paced world of online gaming, fast and secure deposits lie at the very core of the industry’s success. Recognising the importance of seamless transactions, Praxis offers innovative features that have been embraced by the gaming industry. Among these features are Smart Routing, Recurring Payments and Merchant-Initiated Transactions (MIT) that enhance the gaming

experience for both merchants and customers.

From a single integration, merchants can now facilitate automatic quick deposits, guaranteeing uninterrupted gameplay for their customers. Praxis offers automatic top-ups below a specified balance threshold, ensuring that gamers never run out of funds when they need them the most. The convenience of a one-click deposit button empowers gamers with effortless and hassle-free experiences, allowing them to focus on what they love most – playing games.

establishment of our new office in the heart of Dubai. This milestone brings a range of exciting opportunities for Praxis and our merchants alike. It equips us with 24/7 support, further expands our presence across the Middle East and Asia, and grants access to an exceptional pool of talent.

Continuous investment in acquiring new talent empowers us to refine our products and enhance the user experience, with a specific focus on improving functionality, enhancing security and increasing efficiency. To ensure optimal payment processing for our merchants, we are also expanding our Payment Optimisation and Integration Teams. These teams work hand-in-hand with our merchants to increase approval rates and accelerate deposits, by providing them with a wider range of payment options and improving overall payment acceptance.



Praxis has undertaken a transformative journey marked by a series of bold initiatives. Our primary objectives revolve around harnessing the expertise of our team, providing unparalleled support for our merchants, enhancing our product offerings, monitoring and securing our systems and attracting top-tier talent.

In line with our strategic growth plan, we are thrilled to announce the

As we continue to grow rapidly and explore new avenues, exciting developments lie ahead. With innovative features and our dedication to customer satisfaction, our aim is to revolutionise the online payment landscape and establish ourselves as a trusted partner for global merchants seeking seamless, secure and efficient payment solutions. To achieve this, we are venturing into diverse sectors and expanding our reach into new domains. To learn more about our offerings, please visit our website, or reach out to us at

“Continuous investment in acquiring new talent empowers us to refine our products and enhance the user experience”
“As we continue to grow rapidly and explore new avenues, exciting developments lie ahead”

In focus: MIDs


In the ever-evolving landscape of online iGaming and sports betting, MIDs has emerged as a trailblazing company, revolutionising the industry with its innovative solutions and exceptional services. With a commitment to empowering merchants and providing them with the tools they need to succeed, MIDs has established itself as a trusted partner for businesses in the iGaming and sports betting sector.

John has founded multiple payments companies, which have culminated into MIDs; with a global, tailor-made approach. The company’s team of seasoned experts brings together decades of experience in, combining deep industry knowledge with technical expertise to deliver groundbreaking solutions. From underwriting to ongoing support, MIDs has developed unique processes for approval, optimisation and management of operator portfolios. Global coverage and multiple currencies


merchants, allowing them to expand their reach and target customers from different regions. The company supports multiple currencies, enabling merchants to accept payments in various monetary units, thereby eliminating barriers to entry and maximising revenue potential.



MIDs was founded by John Skorick, a payments industry expert with experience dating back to 1997. John has worked on both sides of the transaction, having been a key early member of multiple IPSPs, as well as COO of a leading entertainment ecommerce company. Since 2008,

MIDs understands the unique challenges faced by merchants in the iGaming and sports betting sector, particularly when it comes to payments. To address this, the company has added credit card acquiring and local APM’s on a global scale. Card acquiring is available for merchants located in the US, Canada, Europe, Asia-Pacific, Africa and Oceania and card holders in all regions.

APMs are available globally, with options such as net banking and UPI in India, Pix in Brazil, Mercado Pago in Argentina – over 130 currencies in LATAM – and bank transfers in Nigeria. With an extensive network of banking partners worldwide, MIDs provides global coverage for

Understanding that every merchant has unique requirements, MIDs takes a tailored approach to deliver solutions that align with each business’s specific needs. The company’s team of dedicated professionals work closely with merchants to understand their goals, challenges, and growth strategies. Based on this collaboration, MIDs develops customised solutions that cater to individual requirements, ensuring optimal performance and maximum profitability.

A typical introductory call includes a conversation around the regions and/or payment options an operator is looking to add. With this basic information, the MIDs team presents the options they have to create a solution for the specific need of the operator.

MIDs underwriting team takes over to quickly and efficiently prepare a package for submission to the applicable banking partner, thereby eliminating needless back and forth communication.

Upon approval, the MIDs team remains the dedicated point of contact for all operator needs. They also take a proactive approach to monitoring traffic approval and dispute rates to ensure the operator is receiving optimal processing, while also working to stay ahead of any banking partner needs or concerns.


With its unwavering commitment to empowering merchants and its focus on emerging tech and market solutions, MIDs is poised for a bright future in the online iGaming and sports betting industry.

You tell us the region or payment method you’re looking to add, we provide you with the solution
“The MIDs team remains the dedicated point of contact for all operator needs”

In focus: Match2Pay Crypto Payments Will Revolutionise the Online Industry

The online business world is currently witnessing a monumental transformation with the rise of crypto payments, fundamentally reshaping the way transactions are conducted. Originally considered a niche trend, crypto payments are now becoming the standard that all online businesses must adopt. Customers’ expectations have evolved and traditional payment options such as banks or credit cards are no longer sufficient.

Recent research conducted by, a leading crypto exchange, highlights a significant disparity between consumer demand for crypto payments and the number of merchants accepting them. The study reveals a staggering 10x difference, indicating a substantial opportunity for online businesses globally and a strong desire for widespread adoption of cryptocurrency payment methods.

Crypto payments as the new norm for online businesses

What was once seen as an alternative solution for merchants grappling with banking challenges has now become the preferred choice for all market participants. Recognising this growing demand, in 2018 Match-Trade Technologies, a leading provider of forex technology developed Match2Pay, its proprietary crypto payment gateway. The software is now offered through a regulated EU-based entity, Match2Pay UAB , ensuring fund safety and the option for FIAT settlements. This global crypto payment processor enables the automatic collection and exchange of funds in crypto, boasting one of the lowest processing fees in the market. Crypto payments offer a variety of advantages, including enhanced security, fraud protection, global reach and seamless cross-border transactions.

Security and transparency

They provide robust security measures, safeguarding both merchants and customers from fraudulent activities. The transparent nature of transaction records makes it challenging for fraudsters to manipulate or counterfeit

transactions. Match2Pay’s externally audited API processes all transactions, ensuring data security for merchants and their customers.

Speed and efficiency

Vital in today’s fast-paced world, and crypto transactions excel in this regard, enabling businesses to deliver a seamless payment experience to their customers.

Lower fees & cost optimization

Crypto payments often come with lower transaction fees. Match2Pay’s crypto payment gateway offers the market’s lowest processing fees, starting at 0.35% on Bitcoin, zero processing fees on payouts, and no minimum monthly fees.

Compliance with legal regulations

A crucial advantage provided by Match2Pay, as it operates as an EU-crypto custodian. This assurance mitigates potential legal risks for clients and enhances their reputation among customers. Online businesses that implement Match2Pay’s crypto payment gateway also overcome various issues associated with traditional payment methods, including high transaction fees, slow processing times, lack of privacy, and limited accessibility across borders. The company streamlines clients’ fund flow, ensuring hassle-free deposit options for investors worldwide. The Match2Pay processor can be seamlessly integrated with any third-party solution through its Rest API. Advanced security measures, such as white-listed IPs and 2FA for withdrawals, are guaranteed. Detailed

reporting tools and abusive customer protection further benefit companies utilising this solution. Technical support is available 24/7 through multiple messengers and dedicated account managers are assigned to assist merchants with any inquiries.

Online gaming, gambling and sportsbooks are gaining the most of crypto

These industries face challenges with international payment systems such as VISA and Mastercard categorising financial or investment services outside of the traditional banking system as high-risk. Crypto payment solutions like Match2Pay address this issue and eliminate problems like payment delays, transfer blockages, and chargebacks. The seamless transfer of funds enhances user experience, fostering greater transparency, trust, and authority among clients. Moreover, it reduces operational and third-party costs, minimises settlement delays, and mitigates industry-specific regulatory and compliance constraints.

“We saw rapid growth in blockchain technology. Initially, we recognised its potential as a quasi-financial asset for online traders, but it quickly proved to be even more revolutionary in the payments industry, granting clients worldwide access to services that were previously unavailable to them. The value that crypto payments bring to online businesses cannot be ignored,” summarises Przemysław Wojtyna , Business Development Manager of Match2Pay.

Przemyslaw Wojtyna, Business Development Manager, Match2Pay

‘Limitless’ crypto payment possibilities

Gamblineers owner and regular Gambling Insider contributor Adam Gros reflects on the past year of crypto payments within gambling

Cryptocurrencies in online casinos opened the gambling market to much wider audiences, bringing with them a promise of instant payments, low fees, fewer payment limitations and more. In the last decade, the crypto casino industry has spread and we now have many different ‘casino types’ within the crypto casino industry today, mainly

crypto-only casinos, and casinos that accept both fiat and crypto (hybrid casinos).

Being crypto casino affiliates, we’re trying to cover the crypto casino market as thoroughly as possible, which allows us to work with hundreds of different casinos and see how they differ from each other; even when it comes to payments for crypto players.

So we decided to compare crypto-only casinos with hybrid casinos to see which is better for crypto payments. Although casinos have the option to process crypto differently than fiat, which can, in turn, affect deposits, withdrawals and payment limits, we found that most hybrid casinos simplify things and treat fiat and crypto payments very similarly. Since fiat


payments aren’t under casinos’ control, we expected hybrid casinos to be more rigorous, even in crypto payments, which turned out to be true.


Regarding deposit and withdrawal limitations in cryptocurrencies, crypto-only casinos are much more flexible than hybrid casinos. You can expect average minimum deposits in crypto-only casinos to be at least half the size of minimum deposits in hybrid casinos. While most minimum

third-party payment providers for crypto payments must adhere to limits set by the providers. And since most casinos using third-party payment providers are hybrid casinos, crypto-only casinos have, on average, almost 15 times higher maximum deposits than hybrid casinos.

Withdrawals, on the other hand, bring crypto-only and hybrid casinos closer together. While crypto-only casinos still offer lower minimum and higher maximum withdrawals on average, the gap is much smaller.

deposits range from $0 to $20 in both casino types, crypto-only casinos always stay under $30, while some hybrid casinos can have minimum deposits even well over $100. Maximum deposits bring even more significant differences. Casinos that use direct blockchain transactions for crypto typically stick to unlimited maximum deposits. Casinos that use

An exciting find, which we found only in crypto-only casinos, is unlimited deposits and withdrawals. Although very rare, players can encounter unlimited transactions in newer crypto casinos, which try to stretch their boundaries and thus attract more players. However, we always recommend caution regarding such things, especially with new casinos; after all, we’re still talking about relatively uncharted territory.


Most online casino games come from different software providers who also set bet limits for their games. Casinos can place custom maximum bets for their casino but usually don’t, and just stick to what the game providers have set. The highest bets can be found in live table games, primarily blackjack, where maximum bets can range in the hundreds of thousands of dollars. Some crypto-only casinos, however, have developed their in-house games, where they have complete control over bet limitations. Firstly, in-house games aren’t found in every crypto -only casino; in fact, most crypto-only casinos don’t go into developing their

own games. Secondly, even some hybrid casinos (although more scarce) have in-house games today. From these few that do have their own games, you can find a couple that will surpass even the highest live blackjack bet limits or not set any limits at all!

And what’s more interesting is that we’re not talking only about blackjack, but practically every game type, from slots to table games and unique ‘crypto’ games like crash and dice. If finding a classic slot game from any game provider where you can place a bet of $100 is rare, maximum bet limits of several tens of thousands of dollars aren’t uncommon in in-house slot games and other game types. The only kind of game you can’t find among in-house games is live games, where players typically find the largest maximum bets in any casino.

Depending on player preferences, choosing cryptocurrency first, and then crypto-only casinos, may have its advantages if payment and bet limits are a priority. Such casinos usually also have higher bonuses measured in a few BTC, instead of a couple hundred or thousand dollars. But we have to bear in mind that while choosing crypto over fiat might have its advantages, it also has its disadvantages, such as high volatility, a less regulated market, and no intermediaries with insurance in case anything goes wrong.

“Depending on player preferences, choosing cryptocurrency first, and then crypto-only casinos, may have its advantages if payment and bet limits are a priority”

In focus: Axes

The Cashless Confusion

The land-based gaming Industry is lagging in its desire to evolve to cashless solutions. Notwithstanding the hype and the publicity, the adoption rate of cashless in land-based segment is quite low compared to other consumer and retail experiences. The fractional solutions on the market create friction with clients, as well as add layers and cost to the already onerous and expensive legacy systems that casinos host on property. Cashless is largely considered as another application, system and standalone solution that must be painstakingly integrated with the many other systems and countless providers, which all share a portion of the global solution on the cohesionless gaming floor.

The notion of cashless is quite simple. It is the action of moving funds from the banking system (open loop) to the casino or gaming environment (closed loop). The lack of understanding of cashless and the limitations of open loop cashless to provide true value are at the root of the slow adoption.


Open Loop Cashless has been used in many industries for decades. Plastic cards with chips and pins authorise the movement of funds from banks, credit cards and other sources to pay for goods and services. In recent years, the plastic, chipped card has been virtualised and placed inside of a smart phone app. Open loop cashless

utilises major payment networks such as Visa or Mastercard to verify, authorise and transfer funds from the source to the utilisation destination. The fundamental principle of open-loop cashless is the transaction fee for each utilisation. This is frictionless, and the transaction cost is embedded in the purchase of goods and services pricing. However, for cashing in and out of multiple gaming machines during a visit to a casino, this methodology is impractical because of the cost. This is where the value of closed loop is important to grasp in a cash-less strategy.


Closed-loop cashless is the standard in many European and Latin American countries. As leading gaming jurisdictions sought efficiency, the evolution from coin to paper cash to ticket in/ticket out did not yield the desired results. The need to understand the player, the gaming machine and to correlate all available data to seek maximum performance paved the way for smart card cashless. With the same plastic card and the same chip as open -loop cashless, leading-edge systems providers could capture all player information, behavior, decisions and data, whether anonymously or not. Smart-card cashless is the genesis of what is known today as closed-loop cashless. Whether the player uses a smart card or a virtual smart card in a smart card app,

money is transported around the casino and cashed in and out of gaming machines without any cost, friction or approvals. Moreover, closed-loop cashless card balances are controlled within the casino environment and players can be compensated to leave balances on the app, which is another strategy for player loyalty.


As we enter a business intelligence, big data-driven world, real-time, fine granular data is essential to competitiveness and profitability. Fine granular data can be defined as multidenominational, multigame data where every aspect of every spin, including speed, are tracked in real time. As we evolve into a highly intelligent, predictive marketing world, the value of real-time information translates to actionable intelligence to increase customer satisfaction, lower marketing costs and vastly improve machine to player performance. Competition in the very near future will be defined solely by your ability to access, process, and take actions based on real-time, available data. This is where Axes operates in a league all its own.

ABOUT AXES.AI, founded over 10 years ago, provides real-time actionable intelligence, cashless and enhanced player engagement solutions to clients in more than 40 countries. The Axes ingenuity lies in the potency of real-time, fine granular data. The cloud big data set is accessible 24/7. It empowers correlations between functionalities and applications to interact seamlessly to make real-time decisions, enhance player protection, and boost performance. By leveraging the strength of artificial intelligence, seeks to make the land-based gambling industry safer and more fun; by analyzing patterns and recommending actions to empower the elimination of addiction, and curtailing money laundering activities.

Earle Hall, President & Chief Executive Officer, Axes

Meeting the players where they are

Christopher Justice, CEO of Pavilion Payments, discusses how the industry must grow with a player’s journey in mind, as much as an operator’s

and those things are really what bundle up and help to create a guest experience that’s unparalleled. If one operator is going to be manual and inconvenient, and the other is going to be technologically advanced and help me get what I want as a guest, I’m going to spend more of my money where it’s convenient.

Part of that guest experience and convenience bundle is the omnichannel experience. What does it mean to be truly omnichannel?

When you think about omnichannel, it’s how you are every day in your life. It’s the fact that you can go to your favourite retailer and you can look online while you’re there. It’s about being real-time, on-demand with your guest and meeting the guest where they want to be.

What part of the payments industry do you think is currently evolving the fastest?

I think the thing growing the fastest around the world frankly, and leading consumer trends, is the adoption of self-service technologies. At least in the US, three quarters of all payment transactions are done self-service, and better than half of all holiday purchases were done via mobile. So those two dominant trends are really where the focus of the consumer lies. Even in the gaming space, we are seeing significant shifts to self-service.

The ability to automate cage functions and move them down to a kiosk are some things that are highly important to the guest, relative to convenience, and allows them to operate in a way that they feel comfortable. The other piece of that

is really cashless gaming. The number of consumers pushing and leaning into leveraging their mobile phone as a way to access and play their favourite casino games is certainly a hot topic. I think that’s what’s also translated into the growth of sports betting since the overturning of PASPA: the ability for me to sit at the Stanley Cup and place a mobile bet on who I think is going to win – Vegas Golden Knights, of course.

Of course. We all love Vegas in this industry!

But mobile and self-service are really the two hot topics that are where the customer wants to be and where the industry is going. I think payments are going to be one of those things that really starts to determine winners or losers in the future. We all want convenience, safety and security,

We’ve touched on casinos going cashless already, but what do you think about going cardless and using more of an open banking system in gaming? Has Pavilion approached that already? To me, when you think about cardless – I guess I would reframe it from ‘cardless’ to being more experience-based – and if the purpose of a loyalty platform is to put a smile on your face and properly reward you for your business, do I really need a card? Frankly, the question is, do I really need to know who you are at all? If I can reward you for your play, whether you’ve taken the time to sign up for my program or not, I’m still able to put a smile on your face. I’m still able to get you back and allow you to play where, when and how you want to play. I meet you where you are. Operators will have to go figure that out. As we think about things relative to cashless, it’s along a similar program.


VIP Mobility, our cashless solution, doesn’t require you to enrol in anything. You download the app and you can get started with a standard TITO ticket, where you’re effectively remaining anonymous. The idea behind it is to help you get on a journey at the spot where you’re comfortable – no different than going to the casino. You can start as anonymously as you want – with additional capability as you want – and additional rewards. Give me a little information and I’ll deliver money to your app from one of your financial accounts. Our whole goal is to help nurture the guest along a journey that is most comfortable for them. That really created a much stronger user adoption and a much bigger consolidation of someone’s gaming wallet around the places that are using these technologies. Data shows that guests, by and large, while their overall gaming wallet may only increase 9 to 11% of their total spend, the fact of the matter is the consolidation of their wallet is significant, because they’re going to the places that are just more convenient and more secure.

You’ve mentioned downloading an app, and not having lengthy sign-in or sign-up processes, but we wanted ask about the balance you strike between quick payments and secure payments? We leverage the casino’s trusted cashless wagering system. Tickets can only be redeemed once. Whether utilising our app, or whether utilising a paper ticket, once that ticket has been redeemed, it’s been redeemed. VIP Mobility adds safety and security because all transmissions are encrypted with bank-rate encryption. The ability for someone to play their favourite game and always have those monies delivered to the spot they expect has been proven. When it comes to the ability to then pull money in from one of your financial accounts, we go through a KYC process. We’re obligated to ensure: is somebody who they say they are? Do they have the authorisation to use the accounts that they’re putting forth? We go through a process of validating who the guest is, through a variety of banking systems. Therefore, I know who the guest is, I know the account is real and we move the money in a bank-grade, highly secure way. Then we leverage the authorisations, which we acquire TITO tickets on behalf of, from the casino. Then that is effectively the balance that

shows up on the phone. It is secure, efficient and a way that ensures game integrity. Every transaction is backed with a ticket and every transaction can be reviewed, whether it’s by the casino, by audit or even by regulator.

And as far as another way to make and track payments goes, how important do you think digital wallets are going to become in the future?

‘Wallets’ have a very specific meaning in that, typically, a ‘wallet’ means there is a custodian that is really controlling the movement of money in and out. Typically, that custodian is the one that’s holding the money. In the case of what we do today with VIP Mobility, we’re not holding anybody’s money. We move money from the guest to the operator, and then we acquire that TITO ticket to show that there is a ticket liability from the operator back to the guest. Then, we move that money throughout the resort – so whether you’re playing slots, playing table games, wanting to buy dinner for you and your friends at Wolfgang Puck – we’re moving the money behind the scenes. I can still have that same balance, and I can move that from the casino into the sportsbook, or into your online wagering account, so that you can move the money around. The important part for us is we’re not in the middle of the process and holding anyone’s money. The relationship between the guest and

the operator is important. Ultimately, it’s the operator’s responsibility to fund the guest winnings, but we make that process easy. Everything can be accomplished without having to put the responsibility of holding the casino’s money in a third party.

It’s really about being everywhere, but behind the scenes at the same time?

Absolutely, because it’s organisations like ours that make things like ApplePay, and PayPal and all these other companies work. It’s the plumbing, if you will, that connects everything. You don’t have to see the plumbing to still get the benefit of the fact you have clean hands, but it’s necessary.

What is the feature that Pavilion customers ask for the most?

The consumer could be either an operator or a guest, but I think it overlaps. The solution that casino customers ask for and use the most is our solution called VIP Preferred. It is a consumer program where we underwrite the player, and then we issue affordability limits that allow that player to move money to the casino. Whether it’s online or brick and mortar, the monies that we move are then backed by us. Fundamentally, we pay the casino and then we do a transaction with the consumer to get the money back that we have allowed them to play. It gives game integrity and certainty to the operator all the while allowing the guest to play with certainty. The guest benefits from enrolling once, then has access to use that enrolment across operators and across platforms. If you’re an operator, and you’ve got the highest in industry limits, you’ve got the highest approval rates and you’ve got 3 to 3.5 million consumers that are already signed up, the cost of acquisition is very low. It’s a program that a lot of guests ask for by name: “Do you accept my VIP?” The program allows the guest to play online at MGM, Caesars, DraftKings, Barstool – all of the interactive places. It also allows me to go to MGM, Sands, Wynne, Yaamava’ and hundreds of locations, but then also allows me through VIP mobility to move money in and out – again, very omnichannel. We’ve worked out how to allow that guest the omnichannel experience of moving in, playing their favourite game across the industry and being able to get their money back in a fast, efficient and safe way.

Christopher Justice, CEO, Pavilion Payments

In focus: FinXP

Better Banking & Cross-Border Payment Solutions

Introducing FinXP – what does the company offer?

FinXP is a fintech that specialises in payments & banking solutions for the iGaming and Crypto markets, among other verticals. Founded in 2014, the company is licensed as an electronic money institution by the Malta Financial Services Authority and its licence has been passported throughout the EU and EEA.

The company’s flagship product is IBAN4U, a dedicated, Euro IBAN Account that enables merchants to make and receive SEPA CT, SEPA Inst, and SEPA Direct Debit transfers. This enables clients to make a range of different types of account-to-account payments depending on their needs, including recurring payments and mass pay-outs.

Beyond SEPA, clients can also make B2B payments via SWIFT through FinXP’s transit accounts, thus opening up the possibility to make payments all around the world. We’re also launching a new cross-border payment solution. IBAN4U accounts are complimented with Mastercard Debit cards issued by FinXP itself. These cards facilitate access to the account funds while on the go and can be used as employee expense cards, or in other ways. The cards can be managed via a mobile app that allows users to keep track of transactions, freeze the card, set transaction limits and more.

The company’s flagship product is IBAN4U, a dedicated, Euro IBAN Account

How does FinXP stand out?

FinXP stands out because it can combine deep expertise in technology with long financial services experience. This powerful combination allows

FinXP to complement its off-the-shelf services with custom solutions for its enterprise customers. This provides big value because clients that have eight or nine-figure turnovers often require some element of customisation, whether this comes in the form of integrations, portals, branded cards or even newly requested product features. The talented in-house development team is constantly working on custom solutions for clients.

One example of a payment solution that may require some element of customisation is the closed-loop payment solution, which enables not just platform companies but also their users to open IBAN accounts with FinXP; so that both the merchants and

users may share a common banking ecosystem and hence benefit from fast, cross-border transactions with high approval rates. This kind of solution is used by operators, exchanges and market-places that allow their users to deposit and withdraw funds. Due to the nature of such a solution, certain elements, such as the onboarding process for end users, are customised to enhance the user experience.

What new services are you launching?

FinXP is very excited to be launching a new cross-border payments service that is going to provide a faster and more affordable alternative to SWIFT by using different pay out channels (wire, payouts on cards, mobile, wallet etc). In this increasingly borderless reality, making payments to service providers, employees, partners and customers around the world has become a daily necessity. According to Mastercard’s borderless payments report 2022, 47% of small businesses are doing more international business than they were before the Covid-19 pandemic. Yet nonetheless, executing such international payments involves a slow, expensive and sometimes unpredictable process and this is the user experience that FinXP wants to change. The goal is to make international transfers as seamless as domestic ones. Through the new service, iGaming operators, affiliates and service providers will be able to make fast, account-to-account payments to the US, UK, Canada, Norway, the Philippines and several other jurisdictions at a fraction of what it costs to make the equivalent SWIFT transfer. This is going to be a game-changer for many operators, which for instance will be able to offer better account-to-account pay-out terms to their affiliates and players abroad.

How can we get in touch?

The best way to reach out to FinXP is through the contact form on the website,

Jens Podewski, CEO, FinXP

In focus: Payop

In today’s rapidly evolving digital landscape, companies that offer payment services are essential for smooth and secure online transactions. Among these companies is Payop, a certified Money Service Business. The founder and CEO, Denys Myloserdov, recognised the need for a unique and innovative approach to collecting payments online, which led to the creation of a payment product.

What sets Payop apart in the crowded payment market is its comprehensive array of over 500 payment methods combined into one solution, establishing it as an important player in the payment industry. Through the checkout form, users have access to a variety of international and local payment options they use on a daily basis. This inclusive approach lets website owners collect payments all over the world through different payment schemes, such as cards, e-wallets, vouchers, bank transfers, cash payments and mobile top-ups. By combining these methods into a unified interface, Payop provides a convenient and efficient experience for both businesses and their customers. This allows website owners to tailor their payment options to match their customers’ needs.

One of the most distinctive features of Payop’s platform is its ability to leverage big data to gain valuable

insights into global payment habits. This analysis helps Payop track existing trends and predict emerging patterns in the dynamic payment industry. For example, while Latin American payers primarily opt for bank transfers and cash top-ups, mobile payments are rapidly gaining traction in Africa. Asia presents a unique case with each country favouring its individual e-wallet option. With a nuanced understanding of these regional preferences, Payop can effectively tailor its services to cater to specific markets.

Keeping its finger on the pulse of evolving payment preferences, Payop is quick to adapt to new trends. A case in point is the company’s swift response to the emerging trend of open banking in Europe. Open banking allows users to make online payments directly from their bank accounts with just a few clicks. This streamlined payment flow is familiar to users who have encountered payment brands such as Klarna, Sofort and Trustly. Payments are authorised directly via banking apps or online banking platforms, ensuring a high level of security. Payop views open banking as the future of European payments and stakes on this technology accordingly.

In its bid to encourage wider adoption of open banking, Payop provides open banking under the “Pay by Bank”

label. This industry-wide term helps familiarise more users with the concept, accelerating its acceptance. The creation of the “Pay by Bank” feature was achieved through strategic partnerships with leading tech providers and financial institutions, ensuring a high conversion rate. Payop continuously works on enhancing the Pay by Bank feature’s performance by updating its code to simplify the user journey regularly. With a committed team conducting regular tests and exploring new ideas, Payop continues to enhance the feature’s effectiveness and stay ahead of payment innovation. At the heart of Payop’s mission is the commitment to helping businesses increase their turnover. Payop recognises the challenges of attracting new leads in the strictly regulated iGaming industry and constantly updates its product to support customers’ journey when they make their first payment on a new website. Payop’s dedicated Payment Team dives deep into each payment method’s subtleties, suggesting improvements to the user interface or technical updates to boost performance. Payop believes that all users, despite their language, mindset, device preference and operating systems, should be able to access an efficient payment process. The company collaborates with payment method owners by sharing feedback and ideas, contributing to the overall growth of the payment market.

Anastasia Semenkova, Head of Payment Operations

Articles inside

In focus: Payop article cover image

In focus: Payop

pages 46-47
Better Banking & Cross-Border Payment Solutions article cover image

Better Banking & Cross-Border Payment Solutions

pages 44-45
Meeting the players where they are article cover image

Meeting the players where they are

pages 42-43
In focus: Axes article cover image

In focus: Axes

pages 40-41
‘Limitless’ crypto payment possibilities article cover image

‘Limitless’ crypto payment possibilities

pages 38-39
In focus: Match2Pay Crypto Payments article cover image

In focus: Match2Pay Crypto Payments

pages 36-37
In focus: MIDs article cover image

In focus: MIDs

pages 34-35
In focus: Praxis article cover image

In focus: Praxis

pages 32-33
The path to profitability is paved with choice article cover image

The path to profitability is paved with choice

pages 30-31
Pavilion Payments article cover image

Pavilion Payments

pages 28-29
In focus: Trustly article cover image

In focus: Trustly

page 27
The future of LatAm payments: Embracing digital article cover image

The future of LatAm payments: Embracing digital

pages 24-26
In focus: OKTO article cover image

In focus: OKTO

pages 22-23
Crane Payments Ushering in a New Age of Gaming Payments article cover image

Crane Payments Ushering in a New Age of Gaming Payments

pages 20-21
On the horizon: Africa’s payments future article cover image

On the horizon: Africa’s payments future

pages 18-19
In focus: PayNearMe article cover image

In focus: PayNearMe

pages 16-17
In focus: MiFinity article cover image

In focus: MiFinity

pages 14-15
The White Paper: How will it affect UK payments? article cover image

The White Paper: How will it affect UK payments?

pages 10-13
In focus: Sightline Payments article cover image

In focus: Sightline Payments

pages 8-9
In focus: Passport Technology article cover image

In focus: Passport Technology

pages 6-7
How are payments innovating? article cover image

How are payments innovating?

pages 4-5