Insights Archive

January 21, 2022

Week In Brief - January 21, 2022

A short roundup of some of the week's payments news you may have missed. This week we look at a U.S. lawsuit relating to fintech charters, a U.S. inquiry to update merger review rules, the National Bank of Greece's efforts to migrate to ISO 20022, Aldi's new till-free store and the most recent crypto hack at Crypto.com.

January 21, 2022

Leave The Soul Of Money To Central Banks

Central banks are best positioned to protect trust, the soul of money, be it fiat or virtual, says Agustín Carstens, general manager of the Bank for International Settlements. Private companies should, therefore, build their products based on a central bank-issued digital currency (CBDC) rather than investing in bigtech stablecoins or decentralised finance (DeFi) platforms.

January 21, 2022

Taiwan Criminalises Online Gamblers, Increases Cash Penalty

Taiwan has closed a legal loophole and made gambling online and via other electronic means a criminal offence, increasing the maximum fine for gamblers to NT$50,000 ($1,800).

January 21, 2022

Ex-Minister Backs Industry Black-Market Warnings

A Conservative former gambling minister and ex-secretary of state has defended the UK industry’s view that too-stringent affordability checks would drive players to offshore websites.

January 21, 2022

How Big A Bite Will New York Take From New Jersey's Sports-Betting Pie?

This month’s blockbuster debut of online sports betting in New York is raising questions about whether neighboring New Jersey is going to lose market share comparable to 2006 when Pennsylvania casinos ravaged brick-and-mortar properties on Atlantic City’s Boardwalk.

January 21, 2022

News In Brief: January 17-January 21, 2022

JKO decides against making bid for Playtech, the Nevada Gaming Commission votes in favour of remote player registration and Pennsylvania's online gambling revenue soars to new heights.

January 20, 2022

Cyprus Gets Crypto Downgrade In MONEYVAL Evaluation

A new report into Cyprus’ anti-money laundering and counter-terrorist financing progress calls for better compliance with the Financial Action Task Force (FATF), with a particular focus on virtual asset service providers.

January 20, 2022

FCA Cancels EU Firms’ Permissions

The Financial Conduct Authority (FCA) has cancelled temporary permissions of four European firms and warned that EU firms must meet the FCA’s standards to be allowed to operate in the UK.

January 20, 2022

Despite Increasing Interest, Request To Pay Remains ’Under The Bonnet’, Study Finds

Although market participants recognise the potential in Request to Pay, a new study finds they have done little to deploy and adopt the overlay service. Yet.

January 20, 2022

The Revolution Will Not Be Televised - Regulators Crack Down On Crypto Advertising

The UK, Spain and Singapore have all unveiled plans for strict rules on crypto advertisements within days of one another, with the Monetary Authority of Singapore proposing an outright ban.

January 20, 2022

Ontario Online Launch On Track, Despite Cannibalization Concern

Ontario’s government expects to soon announce a launch date for competitive online gambling, despite the province’s largest land-based casino operator calling for a delay and regulatory reset over concerns of cannibalization.

January 20, 2022

Dutch Licensing Applicants 'Shocked' At Demands, Lawyer Says

Applicants for a Dutch online gambling licence are often “amazed” and “quite shocked” at the level of detail required for a successful application, a Dutch gambling law attorney has said.

January 20, 2022

Football Association Probes Arsenal Yellow Card

The Football Association has said it is investigating a yellow card for an Arsenal player after bookmakers reported suspicious betting patterns in a Premier League match this season.

January 20, 2022

BetMGM CEO Projects Stretches Of Profitability In 2023

BetMGM CEO Adam Greenblatt has said that although the business will remain subject to short-term volatility, he does expect the U.S. online gambling operator to have profitable months as early as 2023.

January 20, 2022

Norwegian Government Defends Research Project Walkout

Norway’s culture minister has defended state-run operator Norsk Tipping’s decision not to participate in a Nordic research project that maps changes to playing patterns during the pandemic.

January 19, 2022

Apple Swipes Left On Dutch Dating App Ruling

In the first-ever concession of its kind, Apple has announced that it will allow third-party payment options for in-app purchases for dating apps in the Netherlands.

January 19, 2022

EU Payment Fraud Data Not Showing Full Story

The latest report from the European Banking Authority reveals some unusual fraud levels across the EU, with incomplete and sometimes "implausible" data meaning it is difficult to get a full picture on the impact of the revised Payment Services Directive (PSD2) in reducing fraud.

January 19, 2022

Euro One-Leg Out Credit Transfer Rules Update Takes First Step

The European Payments Council has launched a consultation on its proposed optional Euro One-Leg Out Credit Transfer Arrangement Rulebook, which sets rules for credit transfers between a eurozone party and a non-eurozone one.

January 19, 2022

UK Prepaid Card Cartel Fined £33m, But Is It The End Of The Story?

The UK Payment Systems Regulator has imposed a £33m fine on five companies, including Mastercard, for operating a market-sharing cartel for prepaid cards. However, the regulator’s decision may just be the starting point of potential penalties faced by these companies for their wrongdoing.

January 19, 2022

New York Governor Calls For Issuing Three Remaining Casino Licenses In 2022

New York Governor Kathy Hochul has called for the accelerated authorization of three new casino licenses that could ultimately lead to a full casino-resort in New York City.

January 19, 2022

Signature Drive Begins For California Tribal Online Sports-Betting Initiative

A coalition of California Indian tribes will have six months to collect enough signatures to place their amended online sports-betting initiative on this year’s general election ballot after receiving approval from the secretary of state’s office.