Insights Archive

July 26, 2024

Revolut (Finally) Gets A UK Banking Licence… With Restrictions

The UK’s Prudential Regulation Authority has granted Revolut a banking licence with restrictions, marking a significant milestone in the fintech’s expansion into the country’s banking sector.

July 26, 2024

Payment Service Providers Operating In Lithuania Need To Improve User Experiences

The Bank of Lithuania has told the country's payment service providers to continue enhancing the user experience they provide.

July 26, 2024

Daily Dash: Four UK Banks Breached Competition Rules, Says Regulator

The UK’s Competition and Markets Authority has sanctioned four UK banks for misleading customers, while the US Consumer Financial Protection Bureau has warned against corporate intimidation of whistleblowers.

July 26, 2024

UK Government Selects Surprise Appointment As New Gambling Minister

The UK government has announced the surprise appointment of Baroness Fiona Twycross as the minister for gambling and Lords minister.

July 26, 2024

Brazil Betting Operators Face Rio Blocking Battle

Major operators have warned that their platforms are now being blocked in the state of Rio de Janeiro, despite the transitional provisions included in new federal regulations in Brazil.

July 25, 2024

Tribes Facing Difficult Reality After U.S. Supreme Court's Florida Ruling

Tribes that already operate casinos or retail sports betting may find it difficult to amend their compacts to replicate the state-wide, hub-and-spoke mobile wagering model offered by the Seminole Tribe in Florida, according to a prominent tribal gaming attorney.

July 25, 2024

Delays In Withdrawing Funds Called Top UK Regulatory Complaint

Delays in withdrawing funds are the top customer complaint reported to the UK’s Gambling Commission, and it is unacceptable for operators to “introduce friction” at the time of withdrawal rather than at deposit, its chief executive has said.

July 25, 2024

One Third Of UK Adults Have Embraced Mobile Contactless Payments

In a significant shift in consumer payment behaviour, one third of UK adults now use mobile contactless payments at least once a month, according to a new report by UK Finance in collaboration with Accenture.

July 25, 2024

Regulatory Influencer: US CFPB Seeks to Expand Supervisory Authority to Include Big Tech and Other Non-Bank Digital Payment Applications Providers

The US Consumer Financial Protection Bureau (CFPB) has issued a proposed rule, titled “Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications," which would establish the CFPB’s supervisory authority over certain non-bank covered persons participating in a market for general-use digital consumer payment applications.

July 25, 2024

New Zealand Regulator Argues Against Scrapping Interchange Fees

New Zealand’s Commerce Commission has come out against removing interchange fees, which make up the bulk of merchants’ payment acceptance costs, but is considering revised fee caps.

July 25, 2024

FTC Investigates Mastercard And Others Over Surveillance Pricing Practices

The US Federal Trade Commission (FTC) has launched an investigation into eight companies suspected of using surveillance pricing practices.

July 25, 2024

Daily Dash: FCA Imposes New Rules On Bank Branch Closures In Cash-Poor Areas

The UK’s financial regulator is stepping in to ensure that bank branch closures do not lead to cash shortages in local areas, while Italy has seen a downturn in suspicious transaction reports so far in 2024.

July 25, 2024

Isle Of Man Cancels Online Gambling Licences In Crime Probe

The Isle of Man’s gambling regulator has cancelled the licences of two online gambling operators that have been under criminal investigation since at least April.

July 24, 2024

State Lotteries Have One Eye On Regulations And One Eye On Operations

Expanded responsibilities to oversee new forms of gambling such as sports betting are creating new challenges for U.S. state lotteries to juggle their dual roles of operators and regulators.

July 24, 2024

U.S. Sports-Betting Operators Warn Of Over-Taxation

Executives with leading operators have warned state lawmakers that excessive tax rates risk stretching the U.S. sports-betting market past its breaking point.

July 24, 2024

UK Regulator Defends Problem Gambling Stats Feared By Industry

A Gambling Commission official has firmly defended its upcoming release of statistics from the Gambling Survey for Great Britain as “open and transparent”, and prepared to set a “new baseline” for tracking gambling-related harm over time.

July 24, 2024

UK Big Tech Review Could Drive Account-To-Account Payments Adoption

The UK’s Payment Systems Regulator and the Financial Conduct Authority are evaluating the benefits and risks of digital wallets for consumers and businesses, which may lead to new incentives for account-to-account (A2A) payments.

July 24, 2024

Brazil Delays Recurring Payments Feature For Pix Until June 2025

The Central Bank of Brazil has announced a new timeline for the implementation of recurring payments on its highly popular Pix platform.

July 23, 2024

Maryland iGaming Bill's Failure Sets Up Renewed Effort In 2026

A bill to allow Maryland voters to decide whether to legalize internet casino gaming failed to get out of the legislature and onto this year’s ballot due to strong and coordinated opposition from unions representing casino workers and several gaming companies.

July 23, 2024

Córdoba's Online Gambling Under Attack

Legislators in Argentina's province of Córdoba are fighting to repeal legislation from 2021 that legalised online gambling.

July 23, 2024

ECB Gives Non-Bank Payment Providers Access To Central Bank Systems

In a major shift for the EU’s financial sector, the European Central Bank (ECB) has introduced a harmonised policy allowing non-bank payment service providers to access central bank-operated payment systems, including TARGET.