The new Payhound.com simplifies how businesses understand Payhound’s services. It provides detailed explanations of crypto-to-fiat payment processing and vice versa, regulatory compliance, and transaction management. The website also includes updates on market trends, company developments, updates on market trends, and expert insights on digital asset transactions. With a user-friendly interface and improved navigation, businesses can easily access key information about integrating cryptocurrency payments into their operations.

Expanding Industry Focus

While Payhound has established itself in the iGaming sector, the company has now officially extended its services to additional industries that can benefit from efficient and compliant cryptocurrency transactions. These include luxury, payment service providers (PSPs), forex, travel, investment banking, affiliate marketing, and real estate. The ability to process crypto payments and convert them instantly to fiat provides businesses in these industries with a secure and regulated financial framework that aligns with evolving market demands.

Luxury brands and high-value service providers can now accept cryptocurrency payments while mitigating volatility risks. Forex and investment firms can enhance cash flow with streamlined settlements, while the real estate industry can facilitate transactions for international clients using digital assets. Payhound’s growing presence in the travel and affiliate marketing sectors further reflects the increasing demand for alternative payment solutions that offer efficiency and flexibility.

Comprehensive Payment Solutions

Payhound’s services are designed to simplify cryptocurrency transactions for businesses of all sizes. Businesses can now process deposits, withdrawals, mass payouts, and supplier payments seamlessly while ensuring real-time fiat conversion. Customers can pay in cryptocurrency while businesses receive settlements in fiat, ensuring seamless transactions without currency risk. This allows them to offer digital payment options without being exposed to crypto market fluctuations. The platform also supports invoice-based payments, allowing businesses to issue and settle transactions efficiently with their clients and partners.

For cross-border transactions, Payhound provides a structured approach to settlements, reducing administrative overhead and improving transaction efficiency. The company also offers tailored over-the-counter (OTC) services for large-volume crypto trades, allowing businesses to execute high-value transactions with competitive pricing and minimal friction.

Security and Regulatory Compliance

As a regulated provider under the Malta Financial Services Authority (MFSA) with a Class 3 VFA License, Payhound adheres to strict compliance requirements, ensuring that all transactions meet European financial regulations. The company’s adherence to ISO 27001 certification standards further guarantees a secure operating environment.

A Growing Digital Payments Ecosystem

Since its establishment in 2018, Payhound has played a key role in supporting businesses through its cryptocurrency payment solutions. By continuously refining its platform and expanding its industry reach, Payhound is helping businesses transition towards a more efficient financial ecosystem. The revamped website marks another step in providing businesses with the tools they need to integrate digital assets into their payment infrastructure seamlessly.

For more information, visit payhound.com. Businesses interested in learning more can book a free consultation or request a demo to explore how Payhound’s solutions can integrate into their operations.

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The industry-leading additions of a powerful note-to-self that appears when customers want to lift the block and an extensive range of cooldown periods are helping customers take control and build better money habits.

The Gambling Commission recently revealed the UK has seen a 12% increase in gambling transactions to £1.46 billion in 2024. Meanwhile, over 70,000 Monzo customers are embracing the bank’s latest additions to the gambling-block with the average self-imposed cooldown period – the time between lifting the block and being able to gamble again – surging from three months to ten.

At the heart of Monzo’s self-management feature is the deeply personal ‘note to future you,’ that appears when a customer is tempted to gamble again, giving them the opportunity to pause, reflect, and remember why they chose to stop gambling in the first place.

More than 700,000 customers are using Monzo’s gambling block and since the introduction of self-serve features last year Monzo has seen:

• Over 70,000 customers embrace the self-serve additions
• 75% of those customers are choosing cooldowns of over 48 hours
• 41% of customers are opting for the maximum industry-first 12-month cool-down period
• 20% rise in blocked gambling payments each month, jumping from £657,000 in 2023 to over £800,000 monthly
• The average cooldown period has surged from 3 months to 10 months
• 8,500 customers are writing powerful notes to their future selves

Kate Graham, Vulnerability Manager at Monzo said: “By staying close to our customers, we build and evolve products and features like the Gambling Block that help them to transform their relationship with money. Hearing from them about the impact our latest additions to the tool have made is fantastic, even more so because so many customers are controlling the urge to gamble by reading notes they’ve written to themselves in the Monzo app and choosing longer cooldown periods than ever.”

Raminta Diliso, Financial Harm Manager, GamCare: “Financial harm is a significant issue for many of the people we support, and tools like Monzo’s gambling block are an important part of tackling this challenge. It’s great to see banks offering these features, and we support the range of options Monzo provides to their customers. Longer cooling-off periods, such as the 12-month option, can play a crucial role in supporting recovery and helping individuals regain control over their finances.

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The decision was taken as the BML Group Ltd, a subsidiary of Betsson AB directly or indirectly promoted the sales of gambling services on its websites in Mainland Finland and the payment blocks will entered into force.

On April 7, 2023, NPB prohibited BML Group Ltd. from marketing its gambling services in Finland and imposed a EUR 2.4 million conditional fine to reinforce the prohibition.

The company has targeted Mainland Finland in its advertising on multiple channels and for an extensive period, said NPB.

The company and its subsidiaries have been presented with several opportunities to submit a statement on their views and to change their activities to comply with the views of the NPB.

During the hearing process, the company introduced some changes related to the marketing channels it uses for example, but the marketing targeting Mainland Finland has persisted regardless.

The police estimated that BML Group Ltd. has significant financial interest in continuing the activities and found that the illegal activities have continued for a long time regardless of the NPB’s previous control measures.

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The government noted that online gambling participation with unlicensed operators will be significantly restricted following the signing of the law.

The Lithuanian government consulted relevant financial institutions on the amendments to the law and concluded that payments should be blocked for users when they attempt to gamble through unlicensed gambling portals. This works to increase gambling protections and contribute to overall increased transparency in the gambling sector.

One issue highlighted was that current payment procedures do not provide the necessary data to block prohibited transactions, including the recipient’s legal entity, company code and bank account number. This has historically hindered the financial institutions’ ability to properly implement the mandatory payment blocking instructions from gambling regulators.

As such, the Gaming Supervisory Authority (LPT) will compile a list of companies entitled to conduct remote gaming activities in Lithuania. The whitelist that authorises businesses to conduct payments as usual will include only the licenced operators.

Payment service providers who do not comply with the new law within 24 hours of receiving a directive could be subject to fines ranging from EUR 1,800 to EUR 3,800. The LPT supports applying direct controls on banks as the best measure to monitor black market activities, having already banned 1,600 websites from Lithuania’s markets.

The government noted that it also accounted for measures to combat unlicensed remote gambling during the initial regulation of the activity in 2015. The LPT blocked 1,809 illegal sites from 2016 to the end of 2024 and has issued mandatory instructions for payment service providers to block payments. Despite the efforts, in 2021 illegal online gambling activities still accounted for 15%, or EUR 18 million, of Lithuania’s gambling market. Lithuania’s Treasury believes that illegal gambling has cost the government a liability of EUR 2 million in uncollected taxes.

The Lithuanian government projects that the new system will ultimately prove more effective than the previous ad-hoc approach. Moreover, from 2 July 2025, the country will increase its legal gambling age from 18 to 21, approved as a new amendment to the Gambling Law. The age restriction will apply to all gambling activities (land-based and online), except for national lottery draws.

Further developments see Lithuania’s gambling sector awaiting the decision of the Ministry of Finance to impose a new tax framework on gambling income in 2025, which will increase the tax rate on slots, casino games, and online gambling to 22%.

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Despite previous commitments to prevent such transactions, the payment giants continue to be listed as available payment methods on multiple unlicensed gambling platforms.

The investigation found that nine gambling websites targeting UK customers offered Mastercard as a payment option, while two of them also accepted Visa. These sites, which operate without the required UK gambling licences, are still accessible to customers and are actively promoted via search engines and social media.Between October and December, the five most visited platforms among them attracted approximately 4 million UK visits. Several of these sites have been accused of failing to pay winnings and targeting problem gamblers with aggressive marketing tactics.

Numerous complaints have been filed against these gambling platforms. One UK customer claimed to have lost GBP 60,000 gambling unknowingly on an unlicenced site, while another reported being unable to withdraw GBP 6,000 in winnings after spending GBP 3,270 via their bank card.

One gambling platform, FatPirate, has been the subject of multiple complaints, with users alleging they were prevented from withdrawing their winnings. Another site, Gransino, allegedly deleted a customer’s account after they raised concerns about withdrawal issues. Both sites were accepting Mastercard payments as recently as last week.

The Gambling Commission, the regulatory authority overseeing gambling in the UK, is aware of these unlicenced operators and has received complaints about at least five of the nine sites identified. However, these platforms remain operational, continue to accept card payments from UK customers, and offer promotional deals, including welcome bonuses of up to GBP 1,800.

Mastercard and Visa, alongside PayPal, previously agreed to block transactions linked to unlicenced gambling operators under a voluntary agreement with the Gambling Commission in 2014. Both companies are legally required to take measures to prevent their networks from being used for illegal activities. However, findings from the investigation indicate that they are still facilitating payments for illicit websites, raising concerns about the effectiveness of their due diligence processes.

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In the rapidly evolving world of iGaming, the choice of payment solutions plays a crucial role in shaping the user experience, driving conversion rates, and determining overall business success.

A well-chosen payment system not only facilitates smooth transactions but also builds trust, encourages player retention, and enhances a website’s competitiveness. Conversely, poor payment processes can result in high abandonment rates, reduced revenue, and damaged player relationships.

Uplatform, a global iGaming solutions provider, recognizes the need for flexible, region-specific solutions. Their platform features over 550 payment systems to meet the unique demands of different markets. At the SBC Summit in Lisbon, stand S112, Uplatform will showcase how their tailored solutions can help operators grow their businesses and enhance player satisfaction.

Understanding the Payment Landscape: Why It Matters

Payment solutions are a pivotal aspect of the overall user experience in iGaming. When players encounter familiar, fast, and reliable payment methods, they are more likely to complete transactions and return to the website. In contrast, if players struggle with payment options that are unfamiliar, slow, or costly, they may abandon the process altogether.

A Global Perspective on Payment Preferences

Globally, payment preferences vary significantly. In Europe, bank transfers and credit cards dominate, while in Latin America, cash-based systems and local e-wallets are more common. In Africa, mobile money is the preferred method due to its accessibility, while in Asia, players often opt for e-wallets and alternative payment methods.

The variety of payment methods is a crucial element for attracting and retaining players, directly impacting their experience and overall platform engagement. According to Eduard, Payments Business Development Manager at Uplatform, “It’s important to focus on the most popular payment methods, which may be just 2-3 options and will vary by country.” By strategically offering the most relevant payment options, operators can enhance user convenience, boost conversion rates, and increase their platform’s competitiveness.

Aligning Payments with Market Demands

Success in any market hinges on offering payment options that align with local player preferences. When players encounter familiar and trusted payment methods, they are more likely to deposit funds, remain engaged, and even bring new registrations. Localization is, therefore, a critical component of any payment strategy. By tailoring payment solutions to the habits and preferences of local players, operators can build trust and drive higher conversion rates.

A successful payment strategy begins with a comprehensive understanding of regional payment preferences. Uplatform helps identify the most popular methods in each market. For example:

• In Germany, bank transfers like Sofort or Giropay are widely preferred.
• In Portugal, payment systems such as Mbway and Multibanco dominate.
• In India, platforms like UPI and Paytm lead the market.

Uplatform’s success team offers ongoing support, both before and after launch, providing in-depth insights into local payment trends and guiding the integration of the most effective methods. With tailored recommendations and optimization of payment interfaces, Uplatform ensures that payment solutions are aligned with the specific demands of each market, helping operators engage players effectively and grow their business.

Regulatory Compliance

Navigating the complex web of local financial regulations is one of the most challenging aspects of payment optimization. Each country has unique financial rules, AML (Anti-Money Laundering) requirements, and payment processing standards. Compliance with these regulations is essential for maintaining smooth operations and building player trust.

For example, in Brazil, operators must adhere to specific regulations on transaction limits and reporting, while in Japan, stringent KYC (Know Your Customer) checks are required before payments can be processed. Failing to comply with these regulations can result in severe penalties, including fines or the loss of operational licenses.

Localized Payment Options

Providing localized payment methods is essential for attracting and retaining players. Each region has specific preferences:

• In Brazil, players favor Boleto Bancário for cash-based payments and local e-wallets for online transactions.
• In Japan, convenience store payments and credit cards are commonly used.
• In Nigeria, mobile money services like Paga are the preferred method.

Uplatform’s comprehensive selection of over 550 payment methods ensures that operators can meet the needs of players in any region, helping them grow their player base and loyalty. Uplatform’s localization guide also offers useful tips and recommendations for adapting payment solutions to specific markets.

Variety of Payment Methods: A Key Element for Attracting and Retaining Players

The variety of payment methods offered by operators is essential for attracting new players and retaining existing ones. A diverse range of options—such as bank cards, e-wallets, cryptocurrencies, and local payment systems—ensures that players can find a method that is convenient and familiar.

This accessibility not only enhances the user experience but also directly impacts conversion rates and overall competitiveness. When players encounter their preferred payment options, they are more likely to deposit funds and stay engaged. Conversely, the absence of suitable payment methods can lead to abandoned transactions and lost revenue, highlighting the critical role of a well-rounded payment strategy.

Uplatform ensures operators can offer a diverse range of payment methods that cater to the specific preferences of target markets. This variety helps attract new players and retain existing ones, supporting website growth and success.

Efficient Payment Integration

Integrating payment solutions can be resource-intensive, but it’s essential for optimizing the user experience and maximizing conversion rates. Operators often face a trade-off between aggregators, which offer access to multiple payment methods through a single integration but tend to charge higher fees, and direct integrations, which can be more cost-effective but are often slower to set up. Smaller operators may also struggle to secure direct partnerships with some payment providers due to lower transaction volumes.

A balanced approach is crucial for long-term success. Uplatform recommends combining direct integrations for key payment methods with aggregator services to achieve both cost efficiency and broad coverage. A phased approach to integration is also recommended, starting with high-impact payment methods and gradually adding others to optimize resource allocation and revenue potential.

Player-Centric Design

The design of the payment interface plays a crucial role in whether or not players complete transactions. A cluttered or confusing payment page can drive players away, while a well-designed, intuitive interface encourages them to complete their transactions.

To optimize the user experience, it’s essential to structure payment methods effectively. Group options into clear sections (e.g., bank cards, e-money, mobile operator payments) and use recognizable icons and logos to visually distinguish them. A clean, organized layout helps players quickly find their preferred method, enhancing conversion rates and overall satisfaction. Using iframe payment windows, which keep the player on the same tab, can improve the user experience and boost conversion rates by up to 30%.

By improving the UI/UX of payment pages, operators can create a more seamless and enjoyable experience for players, increasing engagement and retention.

Geo-Based Payment Sorting

Geo-based sorting ensures that players see the payment options most relevant to their geographic location, increasing trust in the brand and encouraging transactions. On multi-geo sites, geo-sensitive sorting is crucial. Simply implementing geo-based sorting can increase conversion rates by up to 80%.

For example:

• In Europe, players are likely to prefer bank transfers or credit card payments.
• In regions with high mobile penetration, prioritizing mobile money solutions can lead to better engagement.

By showing players familiar options, Uplatform helps operators increase trust and grow conversion rates.

The Role of Cryptocurrency

The rise of cryptocurrency in iGaming offers new possibilities for operators. While cryptocurrencies like Bitcoin offer fast, anonymous transactions, they are not universally accepted. Uplatform helps operators evaluate whether crypto is the right fit for their target markets.

In markets where cryptocurrency is widely accepted, integrating it into the payment system can build trust and improve conversion rates. However, in regions where crypto is less understood, it may not be the most effective option.

How Uplatform Helps

Uplatform has a proven track record of helping operators implement effective payment methods across diverse markets. With over 550 payment systems, Uplatform provides tailored, high-conversion solutions that align with each market’s unique preferences and regulations.

Uplatform’s experience ensures that operators have access to the top-performing payment methods in each region. Whether entering new markets or localizing an established brand, Uplatform’s expertise helps operators succeed and grow their business.

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Great Britain was the first country to implement a complete ban on credit card use for online and offline gambling.

Evidence suggests that the use of a credit card is associated with greater harms among people who gamble. Credit cards provide a convenient means of borrowing to fund gambling, which can facilitate significant gambling-related debt. This can lead to direct and indirect gambling-related financial harms.

Great Britain was the first country to implement a complete ban on credit card use for online and offline gambling in April 2020. The ban prohibits licenced gambling operators from accepting payment by credit card, including payments through a money service business. The credit card ban was designed to add friction to the process of gambling with borrowed money, adding a layer of protection to vulnerable people to reduce gambling-related harms. It is important to note that the ban was implemented at the beginning of the COVID-19 pandemic. 

Aim and objectives 

The aim of this evaluation was to assess the impact and effectiveness of the credit card ban. The specific objectives of the evaluation were to:

• Determine the degree to which the ban has been implemented as intended;
• Examine the extent to which credit card users changed their gambling behaviours as a result of the ban;
• Understand the impact the ban has had on gambling-related financial harms experienced by people who gamble with borrowed money;
• Understand the impact of the ban on affected others and people who gamble who are not currently experiencing harm; and
• Examine how the COVID-19 pandemic interacted with the implementation and outcomes of the ban.

The report draws on the evaluation framework that was developed in line with a Theory of Change (ToC) setting out the outcomes and assumptions surrounding the ban.

Key findings

• The credit card ban was successfully implemented, however, communications about the ban did not reach all people who gamble.
• Overall, the ban was perceived to be a positive change by people who gamble; friends and family affected by gambling; and gambling treatment/support providers.
• People experiencing moderate and high levels of problems from gambling were the most likely to be aware of the ban’s implementation.
• The increased friction imposed by the credit card ban did not always result in changed patterns of gambling.  
• People experiencing no reported problems from gambling, and people experiencing low levels of problems from gambling were more likely than people experiencing moderate and high levels of problem gambling to report reduced use of credit cards to gamble and use of borrowed money to gamble post-ban.
• Most people who gamble reported that their borrowing behaviour did not change post-ban, and nearly all continue to avoid illegal forms of borrowing.
• There was no change in the likelihood of being aware of tools to minimise the risk associated with gambling products
• The impact of the COVID-19 pandemic added challenges to implementation, making it difficult to distinguish the impact of the ban from the impacts of the pandemic.

The report draws on the evaluation framework that was developed in line with a Theory of Change (ToC) setting out the outcomes and assumptions surrounding the ban. 

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The feature is aimed at assisting those who have gambling problems to avoid doing themselves and their families financial harm.

EBS, which is part of the AIB group, is also offering the service.

The banks say they will put the block in place when requested by customers and it can be deployed to both personal and business cards.

“We understand that when gambling becomes harmful it can affect not just the person involved, but their families and friends too. It can damage relationships, finances, employment, and mental health,” said AIB Managing Director Retail Banking, Geraldine Casey.

“The financial services industry has a role to play in supporting customers as they combat any gambling difficulties they may have, and it’s important AIB does what we can to help them stop the harm.”

“That is why we are putting in place additional supports for customers who wish to take steps to protect themselves from problem gambling.’’

Oisín McConville, the former Armagh footballer who has overcome a gambling problem, has backed the move by the bank.

He has also urged people with gambling issues to avail of the supports that are on offer, including from gamblingcare.ie where he works.

“I would like to reassure people that you can recover, that there is life after gambling addiction and that help is available to anyone who needs it,” he said.

AIB said those around a person with a suspected gambling problem should look out for signs of it becoming harmful.

These include overdue or unpaid bills, concealing or lying about gambling, continuing to gamble even after significant financial loss and gambling to try and make money to cover rising costs of living or bills.

It is estimated over 130,000 people in Ireland suffer with problem gambling.

According to gamblingcare.ie a person will often first disclose a gambling problem with staff at their financial institution, rather than with family or friends.

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Fintech crypto company Payhound has been utilizing Chainalysis, the blockchain data platform, to safeguard operations from exposure to malicious activity and uphold strict compliance standards.

With a strong commitment to combating illicit activities and a regulatory obligation to safeguard its customers, Payhound has chosen Chainalysis as part of its compliance and risk management strategy. This collaboration underscores Payhound’s dedication to maintaining top-tier regulatory compliance and security standards within the industry.

Chainalysis is leading the way in establishing a safe global economy built on blockchains through its blockchain data platform, which assists businesses and governments in making informed decisions and protecting their customers. By implementing Chainalysis solutions, companies gain access to a suite of investigation, compliance, and risk management tools.

Michele Santulin, Regional Director Mediterranean Area at Chainalysis says: “In today’s crypto market, where trust is key to success, companies like Payhound need to take advantage of blockchain’s built-in transparency and use advanced blockchain analysis solutions to maintain strict adherence to regulations, protect their brands, and last but not least, offer reliable services to their customers. We are thrilled to support Payhound in that mission.”

Elton Dimech, Managing Director at Payhound, comments: “Chainalysis is an invaluable resource for companies such as Payhound. Their forensic data and analytical approach, allowing for continuous crypto transaction monitoring, has proven indispensable in an effort to adhere to our own AML and Compliance obligations.”

Payhound is licensed by the Malta Financial Services Authority (MFSA) and is a holder of a Class 3 VFA License under the Virtual Financial Assets Act of 2018. Payhound also holds an ISO 27001 certification for the second consecutive year.

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Australians will not be able to use credit cards as a payment method for online wagering.    
 
Responsible Wagering Australia (RWA) and its members have been strong supporters of this measure and have worked with the Commonwealth Government and the financial services industry since 2021 to deliver this credit card ban. 
 
Responsible Wagering Australia CEO Kai Cantwell said that this change was much needed, as Australians should only be gambling with money that they have.  
 
‘This is an important measure to protect customers, making it easier for people to stay in control of their own gambling behaviour,’ Mr Cantwell said.  
 
‘It will complement the existing offering of safer gambling account management tools by RWA members. 
 
‘RWA and its members support the extension of this measure to all forms of gambling that have been exempted from the ban such as lotteries and keno.  
 
‘If consumer protection measures aren’t consistent across all forms of gambling it will incentivise vulnerable Australians to move to less-regulated types of gambling, where they are more at risk of harm.’
 
RWA members provide a range of tools to ensure people can gamble safely, many of which have been adopted by the Commonwealth Government as part of the National Consumer Protection Framework (NCPF).  
 
‘The NCPF is expected to be evaluated shortly and we look forward to engaging in this process to ensure that consumer protection tools are fit-for-purpose and support a safe and sustainable regulated gambling environment,’ Mr Cantwell said.

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