LeoVegas will be first out in the gaming industry to allow open banking transactions under PSD2 via the company’s proprietary technical platform.
This will result in more secure and faster payments for customers directly from their own bank accounts as well as lower transaction costs and a reduced dependence on other payment service providers for LeoVegas.
The UK is the first market in which LeoVegas has already launched payments via open banking.
Customer data from the initial weeks show that 10% of all new customers already are choosing to initiate their payments via open banking.
The solution will be successively rolled out across several of the company’s core markets in Europe.
What is PSD2
PSD2 stands for the EU’s Second Payment Services Directive, which aims to develop the market for electronic payments and thereby create better conditions for secure and effective payments.
Open banking is one aspect of PSD2 and entails that actors open up and share information with each other.