E-Wallets Included in Credit Card Ban, UKGC Confirms

The UK Gambling Commission (UKGC) highlighted the terms of the credit card ban that came into force in April, clarifying operators’ responsibilities when it comes to accepting payments from money service businesses (MSBs) such as e-wallets.

“Credit card ban cannot be easily circumvented by simply topping up an e-wallet”

The commission’s guidance, issued on Wednesday, emphasizes the need for operators to “ensure that the credit card ban cannot be easily circumvented by simply topping up an e-wallet or online money transfer account directly from a credit card.” It also includes recommendations to help put a stop to credit card money transfers via MSBs for gambling purposes.

The credit card ban came as part of the UKGC’s ramped-up efforts to protect vulnerable consumers, and to reduce their risk of “experiencing harm from gambling with borrowed money.”

Revolut highlighted among MSBs

The UKGC informed in its statement that Revolut “has confirmed that its customers can add money using credit cards.” It also warned gambling businesses about other similar e-money businesses in operation that accept credit card deposits from customers who are looking to gamble.

Revolut had informed customers back in April that they “may not be able to use their Revolut cards for online or offline gambling payments in the UK.” It added that some UK operators might stop accepting its cards following the credit card ban imposed by the UKGC on April 14. Revolut also explained that the ban did not apply to its services and products specifically, but rather to the operators themselves.

Credit card payments to be rejected

The UKGC also reminded operators that they are wholly responsible for accepting MSB payments, urging them to implement ways to block such payments from being processed.

“Reject payments made through MSBs that do not have a blocking system in place”

It proceeded to suggest a two-part course of action to ensure compliance with the credit card ban. First, online gambling operators should ascertain that customers of a particular MSB are unable to use credit cards to deposit funds into their e-account or e-wallet to gamble. Secondly, they must reject payments made through MSBs that do not have a “block” system preventing credit card transfers from reaching a player’s gambling account.

Source: vegasslotsonline.com

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