Insights Archive

February 27, 2023

UK Industry Claims ’No Real Competition’ In Card Acquiring

The Payment Systems Regulator has issued a call for evidence as part of its investigation into whether there is enough competition in the card scheme and processing market.

February 27, 2023

FSB Unveils Action Plan For G20 Cross-Border Payments Roadmap

The Financial Stability Board (FSB) has published a new report setting out its priority actions for achieving the G20 targets on enhancing cross-border payments, and has called on further input from industry leaders.

February 27, 2023

States' Short Sessions Leave Tight Timelines To Pass Gambling Bills

Virginia has become the first state to wrap up its legislative session for 2023, with a bill on problem gambling scoring approval but other proposals related to casinos and sports-betting taxes are left for further discussion as part of the budget process.

February 27, 2023

Gibraltar Supreme Court Grants £5m Asset Freeze In Mansion Case Against Ex-CEO

The Supreme Court of Gibraltar has granted a £5m worldwide freezing order against Mansion Gibraltar's former chief executive and de facto chief financial officer, Karel Christian Manasco.

February 24, 2023

US State Seeks Federal Consumer Protection Power Following Bank Merger Fiasco

The Connecticut state attorney general is seeking new investigative authority to enforce federal consumer financial protection rules after several consumers were left without access to online banking and debit accounts during a bank merger process. If granted, it could have wide implications for US payment firms.

February 24, 2023

SCA Must Be Consumer Duty Compliant, Says UK Regulator

The UK’s Financial Conduct Authority (FCA) has written to payments firms outlining what they need to consider when implementing the Consumer Duty in its latest communication on the controversial new compliance requirement.

February 24, 2023

Week In Crypto: Binance Named In US Money Laundering, Drug Trafficking Probe

Another money laundering case closes in on Binance, FTX Japan customers to be made whole again and Coinbase earnings reveal that revenue is down more than 75 percent year-on-year.

February 24, 2023

Daily Dash: Ex-Mastercard Chief Gets Biden’s Endorsement For World Bank

President Biden has endorsed a former Mastercard boss for the World Bank presidency, US card skimming attacks are on the rise and New York regulator boosts crypto fraud detection powers.

February 24, 2023

New York To Tighten Regulations For Sports-Betting Advertising

The New York State Gaming Commission is proposing to ban advertising on college campuses and require clearer disclosures for player bonuses as part of new rules to govern sports-betting advertising due to be taken up next week.

February 24, 2023

U.S. Legislative Flurry Sees One iGaming Bill Die, While Another Lives On

With key legislative deadlines approaching in several states, this week there has been a flurry of activity that includes new sports-betting bills, sports wagering and internet gaming bills advancing, and in one closely-watched state, online casino legislation dying for another year.

February 24, 2023

French Regulator Seeks Reduction In Spend From Problem Gamblers

The French gambling regulator has called on operators to prioritise reducing their share of gross gaming revenue generated by problem gamblers in 2023.

February 23, 2023

Visa, Mastercard Targeted In UK With New Multi-Billion Card Fee Claim

Harcus Parker, a UK-based commercial litigation law firm, is to launch a second class action lawsuit against Mastercard and Visa on behalf of merchants.

February 23, 2023

Nigeria Supreme Court Postpones Ruling On Cash Swap Until After Election

Nigeria’s Supreme Court has voted to postpone a key decision on the withdrawal of "old series" naira banknotes until after the country’s presidential election following criticism.

February 23, 2023

Libya Embarks On Payment Modernisation Journey With EU Backing

Libya is planning to launch a new instant payment system and open banking framework, supported by the EU and part of a wider effort to boost the digitalisation of financial services in the war-worn country.

February 23, 2023

U.S. Legislative, Legal Battles Continue Over Unregulated Gaming Machines

The dispute over whether supposedly skill-based games found in convenience stores throughout the U.S. should be made legal and taxed or simply legislated out of existence continues to play out as lawmakers in various states have been unable to resolve the issue through legislation.

February 23, 2023

Atlantic City College To Offer Esports Degree As States Seek To Lead Sector

A New Jersey college is poised to offer a Bachelor of Science degree in esports management, in the latest sign of the increasing importance of esports in key gaming states.

February 23, 2023

South Korean Lawmakers Advance Online Racing Reforms

After a lengthy delay, the South Korean legislature is heading toward legalising online betting for horseracing in response to pandemic impacts on industry revenue.

February 23, 2023

No Head Of Gambling Policy As Premier League Looks Set To Vote On Sponsorships

The UK's Department for Digital, Culture, Media & Sport has said there is currently no minister appointed to oversee the country’s gambling policy.

February 23, 2023

News In Brief: February 20-February 24, 2023

Brazilian state launches first ever regulated sports-betting site, Hong Kong will extract an additional HK$12bn from the Hong Kong Jockey Club over five years and Missouri committee favours bill without VLTs.

February 22, 2023

UPI Meets PayNow As India-Singapore Payments Linkage Goes Live

India and Singapore have announced that the bilateral linkage of their instant payment systems, UPI and PayNow, is now live, marking the first linkage of its kind for India.

February 22, 2023

Open Banking Surpasses Seven Million Milestone In UK

Open banking products are being used by 7m UK customers, it has been announced, five years on from the regulatory requirements introduced by the revised Payment Services Directive (PSD2).