Delivering Seamless Payments in Global Gaming | Pay It Forward with LeoVegas

Our latest episode is all about delivering seamless payments in global gaming, across jurisdictions.

In another fascinating episode of the Pay it Forward podcast with payabl. we speak to LeoVegas Group’s Director of Payments, Christian Reinheimer, to find out how they navigate a rapidly evolving industry with diverse local regulations and ensure customers are looked after.

We hear about the impact of PSD2 on the payments landscape, and the importance of convenience and security in adopting new payment methods. There’s also some thoughts on the ones that are working so far and why good partners are essential.

Getting gambling payments online right

This conversation, which took place in the payabl. booth at MPE in Berlin, is yet another Pay it Forward episode that speaks of the many factors contributing to consumer payments today. Having been with the company for nearly five years, Reinheimer oversees a team of around 70 people responsible for the payments, product and technology at the online gambling company. The Swedish company was acquired by MGM Resorts in 2022 and has built a reputation as a popular provider of online games.

Reinheimer emphasized the importance of adapting to a rapidly changing industry, which is becoming increasingly complex due to varied local regulations. Each market’s unique licensing requirements necessitate continuous adjustments to their systems, reflecting the diverse regulatory environment across Europe.

In this conversation, which you can watch above, Reinheimer discusses the balance between adhering to regulations and maintaining a positive customer experience. Despite the growing number of rules, he views regulation as an opportunity for innovation, striving to find the best balance between player safety and entertainment.

Of course, the PSD2 directive also gets a mention. This has introduced more competition and innovation in the payments sector and in theory shifted the industry from a card-dominated environment to one where open banking and new providers offer varied and competitive services, benefiting companies like LeoVegas.

He also delves into the complexities of working with different PSPs. Getting your partners right is key and LeoVegas evaluates potential partners based on several criteria, including product offerings, risk mitigation features, cash flow handling, and service levels. The company seeks partners who are not just service providers but collaborators willing to engage in a close relationship to enhance their products to meet industry needs.

Alternative payment methods are becoming increasingly prevalent and people want to use them particularly in online gaming. He cites successful examples like Swish in Sweden and Pix in Brazil, which have rapidly gained significant market shares due to their instant and secure nature. The ability to quickly adapt to new payment trends is crucial for maintaining a competitive edge in the dynamic gaming industry.

Find out about all this and more in this special episode.