December 1, 2020

LeoVegas to offer open banking, a first in the iGaming industry

LeoVegas to offer open banking, a first in the iGaming industry

Online casino and sports betting operator LeoVegas will be the first in the gaming industry to allow open banking transactions under PSD2 through its own proprietary technology platform. With this, customers will be able to have even more secure and faster payments directly from their bank accounts. Transaction costs will be lower and there will be less dependence on other payment providers for LeoVegas as well.

“Secure, seamless and fast payments are incredibly important, and the fact that we now—through PSD2 (the Second European Payment Services Directive)—have the opportunity to directly integrate with many European banks, will provide a superior customer experience offered by security and speed,” Gustaf Hagman, LeoVegas’ Group CEO, said.

“Conducting transactions via open banking is also considerably more cost-effective compared with traditional payment methods. There is a high level of activity in our product and technology development organization, and it is exciting to see all of the innovations we are delivering to our customers. We are first out in the industry with this pioneering payment solution, which will change the entire payments industry in the eyars ahead,” he added.

LeoVegas chose the UK as the first market in which it already launched open banking payments Customer data from the first few weeks reveal that 10% of new customers are already choosing to initiate their payments through open banking. The solution will be successively launched across several of the company’s central markets in Europe.

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