LeoVegas has launched payments via open banking in the UK, before rolling-out the solution across several of the company’s core European markets in the coming weeks and months.

This, says the operator, ensures that LeoVegas becomes the first “in the gaming industry to allow open banking transactions,” done so under PSD2 via the company’s proprietary technical platform.

LeoVegas hopes that the move will result in even 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 the company.

The online gambling operator says that customer data from the initial weeks shows that 10 per cent of all new customers are choosing to initiate their payments via open banking

“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,” commented Gustaf Hagman, LeoVegas’ Group CEO.

“Conducting transactions via open banking is also considerably more cost-effective compared with traditional payment methods. There is a high level of activity in our product and technology development organisation, and it is exciting to see all of the innovations we are delivering to our customers. We are first out in the industry with this pioneering payment solution, which will change the entire payments industry in the years ahead.”

PSD2 stands for the EU’s Second Payment Services Directive, which aims to develop the market for electronic payments, and create better conditions for secure and effective payments.