😎Ukraine 🇺🇦: The development of the gaming industry fosters the improvement of payment infrastructure

😎Ukraine 🇺🇦: The development of the gaming industry fosters the improvement of payment infrastructure

The legalization of online casinos in 2020 has driven the modernization of digital payments in Ukraine. This change is particularly significant as the gambling sector requires fast transactions, personal data protection, and instant withdrawals.

How is this reflected in practice❓

➡️ Gambling operators in Ukraine must use payment systems that undergo a review by the state regulator.

➡️ Stakeholders seek payment systems that offer:

👉 Bank cards optimized for fast deposits.

👉 Mobile payments via smartphones (Google Pay, Apple Pay).

👉 Online casino wallets that allow storing funds for instant betting.

👉 Fast withdrawals to bank cards or e-wallets.

➡️ User restrictions: To access these services, users need a phone with NFC and the ability to authenticate via biometrics. Additionally, financial data on the mobile device must be protected. This means that the customer must not only be enthusiastic but also tech-savvy, which slightly limits the potential target group.

➡️ Context: On April 1, major amendments to Law No. 4116-IX “on improving the state regulation of gambling and lottery activities” came into force, including, among other things, the elimination of the old and the creation of a new supervisory agency called PlayCity, in addition to the prohibition of using patriotic themes in advertising.

#news #neighbors #gaming

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