LeoVegas launches open banking payment method

2 Dec 2020

Leo Vegas CasinoLeoVegas announced last week that players are from now on able to use open banking as a payment method on its website. The so-called PSD2 (The Revised Payment Services Directive) is an open banking payment solution that combines many benefits for both players and the operators.

More specifically, an open banking payment solution allows bettors to share their transaction history, giving them a new way to pay. The payments are more secure and faster. It is also expected that transaction fees will be lower. LeoVegas is planning to launch this payment method in many European markets.

Gustaf Hagman, Chief Executive at LeoVegas stated that: “secure, seamless and fast payments are incredibly important, and the fact that we now – through PSD2 – have the opportunity to directly integrate with many European banks, will provide a superior customer experience offered by security and speed.” He continued saying that: “We are first out in the industry with this pioneering payment solution, which will change the entire payments industry in the years ahead.”

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LeoVegas Sport is slightly new in the sportsbook industry, but they already knew that they had to follow the steps of their successful casino heritage. They mainly target the Nordic market, but I would like to see them broaden their reach even more. The bookie's impressive improvement is shown through the doubling of its depositors within a 12month time frame, reaching 200.000 active customers. The odds, especially in Premier League, can be compared to Bet365's and as it was expected, the mobile services are their powerhouse, while Kambi's presence as the creator of the platform guarantees stability. LeoVegas will have to add more payment methods to be more flexible and speed up the slow withdrawal process. Although they have to work more on the live betting part, they are a book that's definitely a keeper.

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