The SBC Summit Barcelona - Digital has gathered the leading industry experts who have disclosed their thoughts about payments and compliance.
Find other experts’ insights and gambling news on the LoginCasino website.
The speakers have touched on several important topics related to challenges in the payments sector that operators constantly face. They have the same opinion concerning compliance: financial institutions and operators should collaborate and develop mutual understanding to ensure the best customer experience. The main goal is to reduce friction, which is frequent among customers.
Different regulations and requirements restrain operators from doing right
Marius Galdikas, a Chief Executive Officer at ConnectPay, has emphasized that the market needs single standards for payments regulatory compliance. Olga Golikova, a Head of Billing at Parimatch, has supported this idea and added that regulations differ across Europe and other regions, and this creates many obstacles on operators’ way. It is difficult for them to get through it and understand the purpose of certain documents required by a regulatory body. Moreover, regulators should educate operators and explain what kinds of payments they do.
The experts have also agreed that payment services providers (PSPs) should set clear requirements for documents they need, in what format, and at what time. Regulations are constantly changing, which influences the requirements for reports. However, there aren’t any common guidelines, and it is a big problem. A single experience as well as communication between PSPs and operators can solve it.
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