The UK Gambling Commission has reminded operators that its ban on credit-card transactions applies to all-digital payment processing services.
On April 14 of this year the UKGC introduced its latest regulations and clarified that its credit card limits extend to all-digital payment systems.
Under the new licencing conditions, UK operators must ensure that players who finance their accounts have met the following requirements: “Operators must satisfy themselves that customers of that money service business cannot fund their e-accounts or e-wallets with credit card deposits and then use those funds for gambling.
“Operators will need to reject all payments made through such MSBs that have not developed a ‘block’ to prevent credit card deposits being used for gambling through their e-account or e-wallet facilities.”
The UKGC emphasised its implemented condition of licencing 6.1.2 was introduced to ensure ‘maximum friction levels’ for players seeking access to credit financing to gamble and protect vulnerable consumers and problem gamblers.
The payment systems are e-wallets, e-money transfers, mobile banking applications and other Fintech services. Operators must ensure there is no processing of ‘transferred funds’ from credit cards to e-wallets.
The Commission pointed to the popular Revolut mobile banking app, which enables its customers to use credit cards to add money, stating that operators ‘must put systems in place to prevent gambling payments from these products.’