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PXP Financial has been at the forefront of shaping and driving payments innovation for many years. Today, we have more than 150 employees from 25 nationalities working in offices across different corners of the globe. We thought we'd give you a world tour of PXP offices to help you get to know us that little bit more. Next stop - Sofia, the bustling capital of Bulgaria.

Sofia is a modern, youthful city, with an eclectic feel. Home to many of Bulgaria's finest museums, galleries, restaurants and clubs, it’s also home to one of PXP Financial’s busy offices. We caught up with Senior Network Administrator, Stoyan Stoyanov, to find out what life’s like at PXP Sofia.

Q: What does your typical workday look like?

Stoyan: I tend to go to the gym early in the morning and then arrive in the office – most of the time I’m the first one through the door and it is very peaceful. It’s not long before everyone else arrives though, and the day begins.

The teams here work primarily in Development and Infrastructure but we also have Product and Risk too - our office is a vital Technology hub for PXP. My team is responsible for the IT and Infrastructure operations for our products. We make sure the uptime of our systems is extremely high and everything runs smoothly.

My first port of call is to check the top-level system health/performance dashboards and any open incidents that may have been raised overnight. I will then align with the multiple teams on the ongoing projects we’re working on, allocate tasks and start on my own workload.

In a typical day there’s also a design and architecture meeting with key stakeholders about a new feature which will further enhance our platforms. From an operational perspective, everything we do must be flawless and smooth to ensure the best customer experience.

Q: What do you think Sofia is best known for?

Stoyan: Bulgaria is well known for its picturesque mountains, refreshing seaside and wine regions so there is something for everyone. Because it’s located in the Balkan peninsula you can find a lot of cultures and traditions here, which also is true for the food – we enjoy an exquisite mix of Mediterranean and Middle Eastern flavours.

Q: What do you most value about your office and why?

Stoyan: I love when we gather in the office to brainstorm solutions to problems on the whiteboard. Of course, when we work remotely we have to do this virtually which is why I really look forward to it when we meet in person. It’s also just a lovely office to be in, located close to the city centre of our capital, with an amazing 360^o view.

Q: What are the interesting things happening in the payments industry in Bulgaria?

Stoyan: There is a significant growth in our sector within Bulgaria where a variety of fintech solutions are being developed. There’s now more than 200 fintech startups here, and most of them are based in Sofia – it’s fair to say the region is soon to be a hub for fintech’s in south east Europe. I’m so excited that PXP is part of that and strengthening its position by expanding in this country.

Q: What was your last team day/night event?

Stoyan: Our office organizes regular events for colleagues to socialize and have fun. Recently we’ve been bowling, go-karting, and enjoyed drinks in the evening. We’re lucky enough to be just 10 minutes from the city centre where there are a lot of amazing places for delicious food from around the world and of course traditional Bulgarian dishes.

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, a variety of alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com.

iGB Amsterdam is one of the most prestigious gaming B2B conferences in the world. Each year, thousands of gaming professionals attend the event, which features exhibitions, conferences, and networking opportunities.

As always, we were lucky enough to join the industry experts showcasing innovative ideas and advanced technology, and learn from those leading the way in the ever-evolving gaming industry.

Amidst the vibrant atmosphere of Amsterdam RAI - the biggest exhibition space in the Netherlands - we soaked in invaluable insights poised to shape our company's future, particularly from the payment service perspective.

The conference was segmented into areas focusing on online casino software, gaming platforms, payment solutions, legal and regulatory guidance, marketing strategies, affiliation opportunities, and corporate services. Each section was a unique opportunity to explore, learn, and connect.

With so much to take in it’s difficult to pick just one highlight, so here are our top three takeaways from iGB Amsterdam 2023…

The need for friction-free mobile gaming

The global mobile gaming market earned around $92.2 billion in 2022. That represents 52% of total global gaming revenue that year, so we weren’t surprised to find it was a hot topic throughout the event.

There were some fascinating discussions around mobile gaming trends which emphasised the importance of optimising platforms for seamless mobile experiences, something that resonated deeply with us as a payment service provider.

The future of payments is not further into digital or connectedness, but into invisibility. This is particularly true in the gaming space, where players don’t want to have gameplay disrupted by making a payment.

We understand that providing smooth and convenient mobile payment solutions is crucial for meeting the evolving needs of modern gamers, and this mobile-first approach aligns perfectly with our company's mission to deliver exceptional payment experiences to our valued merchants and their customers.

Greater personalisation through AI

During the event there was a lot of excitement around harnessing artificial intelligence (AI) to make personalised payment recommendations based on user behaviour, and we are certainly seeing more competition from retailers and other tech-savvy companies that put personalisation at the centre of their business models.

Soon, segmenting and microtargeting won’t go far enough. Consumers will expect hyper-personalisation: the ability to use data and analytics to develop a deep understanding of each customer’s needs and orchestrate a set of tailored experiences. Gamers are no exception.

Artificial intelligence (AI) is already rapidly transforming the online gambling industry to improve customer service, prevent fraud, create new and innovative games, as well as personalise the gambling experience for each player.

It’s also a game-changer for the payments industry. AI can make tailored payment recommendations that assist in optimising a payment process. Based on the detection of personalised spending patterns, it can also enable automated payments, reducing the amount of time and effort customers spend making payments. At PXP Financial we recognise the huge potential to enhance customer satisfaction and loyalty, and how this tech can benefit our merchants and end-users.

The value of data-driven insights

Data-driven insights, mainly through AI-driven analytics, was another significant topic during the event. Once again, we come back to what’s at the heart of it all: improving the customer experience. That starts with treating payment data as a strategic asset. Payment data provides a clear picture of customers, and their purchases, to businesses in near real-time. Having access to this data means companies benefit from a deep understanding of the customer journey and create a better experience.

At PXP, we understand the critical role of data in understanding our merchants' needs and their customers' preferences. Leveraging this data, we can create tailor-made payment solutions and offer personalised services that cater to each merchant's unique requirements. By analysing their transaction patterns, chargeback rates, and other key metrics, we can provide data-backed recommendations to optimise their payment processes and maximise revenue.

We were so eager to share these revelations with our product and management team as soon as we returned from Amsterdam. We firmly believe that by staying at the forefront of mobile gaming trends, exploring innovative payment solutions, and leveraging data-driven insights, we will be better equipped to lead the way in the card-acquiring space and offer unparalleled payment experiences to our merchants.

With renewed enthusiasm and strategic direction, PXP Financial will continue to thrive and maintain its position as a frontrunner in the payment service industry.

17th of July - PXP Financial, the expert in global acquiring, payment, fraud, and data analysis services, announced today it has received accreditation from Visa, a world leader in digital payments, to become a Token Service Provider.

The Visa Token Service (VTS) is the foundational platform for global tokenization. By substituting Visa card numbers with tokens, VTS enables a more secure digital payment experience for millions of customers every day.

Kamran Hedjri, Founder and Group CEO of PXP Financial, “The payments ecosystem is in a state of transition, with fraud remaining a major challenge. Visa and others are driving significant changes to transition card payments to a fully digital future, underpinned by the security of payment tokens. 

“Here at PXP Financial, we focus on keeping our merchants at the forefront of important developments in the payments industry, especially where we can deliver tangible benefits to card acceptance rates and security.”

“As a result, and to comply with card scheme recommendations around the use and storage of card data, we are moving towards the general use of scheme tokens, where we successfully launched activation of Visa end of May.”

Tokens are unique to a merchant and card. As a Token Requestor and Token Service Provider, PXP Financial will perform the provisioning of tokens on behalf of its merchants and store the tokens to use for future payments. As well as the enhanced security this move will deliver to PXP Financial customers, additional benefits including increased approval rates, as authorizations performed with a token are more likely to be approved by the issuer.

The token integration will also incorporate notifications about card updates, which will result in a reduction of card declines that happen because of an expired card.

Hap Huynh, Vice President, Visa Digital Solutions, added: Last year, Visa Token Service issued its 4 billionth token, marking a major milestone which nearly doubled Visa’s token count in one year, surpassing the number of physical Visa cards in circulation worldwide. This milestone underscores the powerful security that tokens provide to merchants, issuers, and consumers alike.

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, a variety of alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com. 

For more information, visit: www.pxpfinancial.com

Our world tour of PXP offices began in Vienna, and we continue by heading to London! With London being home to our headquarters and a global hub for FinTech activity, there’s always lots going on. We spoke to our Business Development Manager, Vladislav Chirilov, to see what it’s like to work in our 
London office. 

Q: What do you think London/UK is most known for? 

Vladislav: “I think London is probably most known for its rich history, traditional afternoon tea, and 
iconic landmarks like Big Ben and Buckingham Palace. If you’re ever in London, I recommend paying 
them a visit if you haven’t already. We’re also definitely famous for our love of fish and chips and 
cheering for our favorite football teams!”

Q: Are there any interesting things happening in the payments industry specific to your 
country?

Vladislav: “The UK is a leader in digital payment adoption, known for its resilience and adaptiveness in 
the industry. As of 2023, it ranks third globally in transaction value of digital payments, following only 
China and the US. The payments industry here is driving innovation and fostering inclusion while also 
supporting the development of digital economies, making London such an exciting place to be.”

Q: What are the best or most exciting things to do in your office’s city? 

Vladislav: “London offers a plethora of exciting things to do! I definitely couldn’t name everything! In 
terms of culture, exploring the world-class museums such as the British Museum or Tate Britain is an 
incredible experience – as is immersing yourself in the vibrant theatre scene of the West End. The 
London Eye offers breathtaking views of the city, but let’s also not forget the simple enjoyment of a 
traditional Sunday roast at a cosy pub!”

Q: What are the best local places to go to for lunch or after work?

Vladislav: “When it comes to local places to go to for lunch or after work, you’re spoiled for choice! I’d 
say you can’t go wrong with grabbing a bite at Borough Market or trying out the food stalls at Camden 
Market. Both places have such a diverse (and delicious!) array of food. If you’re in the mood for some 
after work fun, heading over to a pub in Shoreditch for drinks and live music is always an excellent 
choice.”

Q: What do you most value about your office and why? 

Vladislav: “Ah, where to start? Our office is a treasure trove of awesomeness! I think what I value the 
most is the vibrant and collaborative environment. The city’s fast-paced atmosphere definitely inspires 
us to think outside the box and stay ahead of the game. 
The energy here is contagious – it feels like we’re all part of a big family. Plus, we have a gaming 
console, and let’s say that friendly competitions have taken our team bonding to a whole new level!”

Q: What does your workday typically involve? 

Vladislav: “My role as the Business Development Manager at PXP Financial means that my workday 
is like a roller-coaster ride, but in a good way! I spend a lot of time researching potential clients, 
reaching out to them, and building relationships. I really enjoy being able to make these new 
connections with people. 

In addition, my work includes analyzing market trends, brainstorming strategies, and collaborating with 
the team to make the magic happen. Of course, I also can’t forget the occasional battle with the office 
coffee machine!”

Q: What is your favorite part of your day-to-day work life?

Vladislav: “The cherry on top of my day is without a doubt the thrill of closing a deal. It’s like scoring 
the winning goal in a championship match (just without the physical exertion!). I love the challenge of 
negotiations and seeing all the hard work pay off. 

Aside from this, every day always brings something exciting, whether it’s brainstorming innovative 
ideas or sharing a laugh with my excellent colleagues. It’s the little moments that make work feel like 
play!”

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, 200+ alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com.  

PXP Financial has been at the forefront of shaping and driving payments innovation for many years. Today, we have more than 150 employees from 25 nationalities working in offices across different corners of the globe. We thought we'd give you a world tour of PXP offices to help you get to know us a little bit more. Our first stop? Vienna.

Located close to the city centre, our Vienna office is a real hub within PXP. We sat down with our Banking Relationship Manager, Maral Sheikhestani, to see what she had to say about working at PXP in Vienna.  

Q: What do you think Vienna/Austria is most known for? 

Maral: "There's definitely a few things that Austria and specifically Vienna are known for. For food I think the most well-known dish is Wiener Schnitzel, which roughly translates to Viennese cutlet. Sachertorte, a rich chocolate cake with a signature apricot jam layer, is also highly associated with Vienna as it was first made here.

Vienna is rich in culture. Mozart often comes up when thinking about Austria. Opera is a big one; the Wiener Staatsoper is a world-leading opera house. Other things specific to Vienna are the Wiener Walzer (translated to Viennese waltz), Fiaker-fahrt (horse and carriage rides) and the Schönbrunn Palace, which is one of many incredible places to visit here."

Q: What interesting things are happening in the Austrian payments industry?

Maral: "A few key companies are driving the market in Vienna/Austria. For example, Paysafecard, WesternUnion, and some credit institutions like Erste Bank, Raiffeisen, and Bank Austria. And of course PXP has a significant presence!’’

Q: What are the most exciting things to do in Vienna?

Maral: "It definitely depends on the season. I'd say in the summer, after-work drinks by the Donaukanal are a lot of fun. The classic summer to-dos are the walks of Standtwanderweg and going to a Buschenschank/Heuriger (similar to a wine tavern). In the winter, it has to be the Christkindlmarkt (Christmas Market), ice skating, and enjoying some Glühwein, which is like an Austrian/German mulled wine.

More generally, our office location is great because it is so central. There are so many incredible locations to go to lunch or dinner with colleagues or clients. I could go on for a very long time naming the best local places! Ramasuri, Salettl Pavillon, Tachles, Melangerie Bistro & Caffeterie, and Artner am Franziskanerplatz are just five randomly picked examples, but the list goes on endlessly!’’

Q: Please tell us about working in the Vienna office. 

Maral: "It's always considered the operational hub of PXP. A part of the C-level management is located in Vienna. There are also a lot of other departments present, such as risk, account development, project management, IT, product, a part of finance, and development.

We have a great team of people in the Vienna office. My team manager is excellent - the best people manager award definitely goes to him! We recently did a team day (cooking!) that was hugely enjoyable. I also really appreciate the flexible working at the office, i.e., office hours and remote working. I look forward to continuing to be part of the Vienna team!"

Find us here:

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, 200+ alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com.  

SBC Summit North America returned earlier this month for its third edition. Once again, the event brought together key sports betting and iGaming players to exchange opportunities, expertise, and insights into the industry's future. Delegates - an astonishing 3,500 of them - not only immersed themselves in current industry goings-on, but also gained insight into the direction of the industry and met the innovators driving us to this future. 

SBC Summit North America had it all: expert keynote speakers, networking opportunities with faces familiar and new, the SBC First Pitch competition and a bustling tradeshow floor. If you didn't manage to attend this year (or even if you did and want a reminder), we've put together a quick takeaways blog to bring you up to speed. 

1. Payments, payments, payments! 

Payments continue to occupy a critical position within the iGaming and sports betting industry. SBC dedicated an entire conference stream to discussing all things payments and FinTech.  

Our Founder and Group CEO, Kamran Hedjri, hopped from the NextGen Payments and RegTech Forum in Zürich (check out our event blog) to SBC in New Jersey to share his expertise on payments compliance. Joined by an expert panel, the session offered exciting insights into payment innovation and regulatory challenges. 

Recognising and meeting customer demands is critical and instantaneous payments are becoming more and more desirable. At the same time, customers want to pay with their preferred payment method (both traditional and newer options such as digital wallets and BNPL), preferred currency and without fees. The payment process needs to be as frictionless as possible, and the closer it gets to invisibility, the better.

Player experience is also paramount and key to converting and retaining loyal players. This is critical for business success and driving profits. It's a tall order, but it's one that we need to meet as an industry. 

The challenges are numerous. The oft-international scale of industry operations, multiple channels, and customer demands for choice and speed combine to create a challenging payments landscape for businesses to navigate. 

Compliance requirements, such as AML (anti-money laundering) measures, are an additional and essential consideration, but can cause the process to become even more cumbersome. Furthermore, differences in requirements between state jurisdictions produce a fragmented regulatory terrain.  

These challenges are not going anywhere. Selecting a payments partner with regulatory expertise when expanding into the US or new states is crucial. Here at PXP Financial, we have 20 years' of experience in processing gaming industry payments. We advise our customers on the regulatory nuances and support the provision of payment options and processing across chosen locations.  

When looking to the future, the task is clear - even if it's not easy! Customer expectations and regulatory requirements need to be balanced. Regardless of your position within the industry, the regulator and the customer are two pivotal stakeholders. 

2. What the tech?!

One of the most exciting areas of discussion is technological innovation. There have been some incredible developments in recent years. AI (artificial intelligence) and open banking technology are two examples which have revolutionary potential within sports betting and iGaming. So, where do they fit in? 

AI is particularly useful in supporting compliance. For example, AI can automate and streamline the KYC (know your customer) process by verifying customer identities, assessing risk profiles, and conducting background checks.  

Another application is for responsible gambling. AI can monitor individual player behaviour and detect signs of addiction or excessive gambling by analysing, e.g., betting history and account activity. Once at-risk players are identified, appropriate interventions, such as the provision of support resources or pop-up warnings, can be activated.  

The capability of AI to analyse vast amounts of data transfers into fraud detection and anti-money laundering. Through real-time monitoring, AI can quickly flag suspicious activities for further investigation. 

Meanwhile, open banking technology brings automation, efficiency, and enhanced decision-making to the industry.  

For example, leveraging open banking APIs (application programming interfaces) enables operators to access real-time and accurate financial information about their customers. Operators can carry out thorough due diligence, supporting compliance with AML and KYC regulations. In terms of payments, open banking enables secure and seamless payment processes – customers can initiate transactions directly from their bank accounts. One associated upside of this is lowered risk of fraudulent transactions.  

It’ll be exciting to see where these technologies, and others such as blockchain and biometrics, drive the industry to.  

3. Equality, diversity and inclusion 

Technological advancements, payments innovation, compliance and regulation are all incredibly important topics. But so too is EDI (equality, diversity and inclusion). After all, iGaming and sports betting is an industry of people, for people.

The agenda for SBC Summit North America included several well-attended events focused on improving industry diversity, such as the global gaming women breakfast meetup and a panel on equity hiring. There is a long way to go; however, facilitating networking and promoting EDI conversations are an important step. Hopefully SBC will continue to engage with these issues that are so critical to continuing industry success.  

At PXP Financial, we recognise it is the people that make us tick. Check out our recent blog showcasing some of the highly successful women across the business.  

SBC Summit North America was an incredible few days. With the dates already announced for SBC Summit North America 2024, we know where we’ll be 7-11 May! Get the dates in your diary now, it’s bound to be another highlight of the industry calendar. 

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, 200+ alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com.  

Last week, more than 400 industry leaders gathered in the beautiful city of Zürich for the 13th NextGen Payments & RegTech Forum (NPF). The two-day event was packed with exciting panels, captivating keynote speeches, compelling fireside chats, and informative Q&As. Our founder and Group CEO, Kamran Hedjri, joined the incredibly thought-provoking ‘Payments Innovation’ panel. 

With more than 1,000 minutes of top-level content, the insights were manifold. Therefore, we’ve broken it down into three key takeaways for you to digest quickly.   

1. Payment innovations  

Innovations in payment technologies have long been transforming how we pay and how transactions are processed. Chances are you’ve completed a contactless payment, used a digital wallet (Apple Pay and PayPal are popular digital wallet options), and perhaps even bought something using a blockchain-based payment.

Nevertheless, some still prefer more traditional methods of payment. The payments industry needs to focus on maximising choices, so customers always have the option of using their preferred payment method.   

Regardless of the payment method, customers want to pay, send, and receive money instantly and seamlessly. The less friction, the better.  

As such, payments are becoming embedded into everything we do. Customer expectations have changed; embedded payments are becoming the norm. People don’t want to leave an app or website when they pay, and customers want to pay in their preferred currency with their preferred payment method.   

However, the payments industry is a highly fragmented landscape in constant evolution. Establishing within payments represents one of the most monumental challenges currently faced within the industry. As we move forward, the central questions will likely be around the role of digital assets, such as stablecoins and CBDCs (central bank digital currencies), and how they will fit into the current payments landscape.   

2. Keeping up with the...payments! 

Regulation plays a critical role within the payments industry, and concurrent to the innovations in payments are regulatory innovations. Indeed, the regulator and the customer must be regarded as two key stakeholders in payments. Regulation aims to increase competition, ensure security, and promote best practices. However, given the pace of evolution in the payments industry, regulation often struggles to keep up.   

The number of new businesses in the payments space has exploded in recent years, and the types of payment services available have become incredibly diversified. The result has been inconsistent or insufficient regulation. Standardisation, particularly in an increasingly interconnected world, is a tall order. Without standardisation, navigating regulation continues to be difficult for startups, scaleups, scale-outs, and incumbents.   

Further questions are cropping up around regulating digital assets, such as cryptocurrency. The role of regulators remains uncertain, particularly given the decentralised nature of many digital assets. However, regulators have urged caution about the risks associated with digital assets. With the current absence of external regulation, payment businesses engaged with digital assets need to have an internally robust regulatory framework that privileges and protects the customer.   

 As an industry, regulators and payment businesses must collaborate. Businesses need to monitor regulatory changes to keep ahead of the curve and remain compliant. RegTech is becoming increasingly essential for supporting businesses to overcome the regulatory challenges within payments.   

3. Cybersecurity 

Cybersecurity remains the top concern of regulatory changes. Protecting customer privacy while also mitigating against fraud and improper usage are critical tasks for the payments industry. However, this is difficult in the fast-paced payments landscape and given the increasing sophistication of cyberattacks.

Technological innovations are supporting developments in the cybersecurity space. For example, biometrics authorise a payment using physical characteristics to authenticate user identity. Biometrics includes technologies that are now relatively commonplace, such as fingerprint scanning and face recognition. As the technology develops, biometrics will remove the friction of identity verification in the payment journey.   

Although still in its infancy, AI (artificial intelligence) will also play a key role in supporting cybersecurity in the payments space. While innovations are facilitating both quicker and higher volumes of payments, cybersecurity compliance often operates at a slower pace. AI can improve risk assessment speeds and enhance the process of fraud detection. The machine learning component of AI also means it learns from each transaction, increasing its competence and efficiency the longer it is implemented.  

The 13th NextGen Payments & RegTech Forum was an invaluable event. Industry leaders were able to unite and share their expertise and insights to drive the industry forward. In the fast-paced landscape of payments, having the opportunity to come together and learn from each other is critical, so we want to say a huge thank you to Qube for hosting the forum. We can’t wait to travel to Athens in September for the 14th edition of the NextGen Payments & RegTech Forum – see you there! 

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, 200+ alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com.  

The end-to-end payment provider will leverage its expertise in the gaming industry to enhance Kindred Group’s payment capabilities.

11th of May 2023 - PXP Financial, the expert in global acquiring, payment, fraud and data analysis services, announces today a new partnership with Kindred Group Plc, a leading online gambling operator offering online casino, online poker, online bingo, and sports betting products. Kindred Group Plc consists of nine brands, including Unibet, Maria Casino and 32Red.  

Commenting on the announcement, Kamran Hedjri, Group CEO for PXP Financial, said: “As the payments partner of choice for the gaming industry, we ensure the payments process never detracts from the overall gaming experience. Our deep understanding of the regulatory challenges, compliance, and payments issues operators face makes us ideally placed to help Kindred Group cut costs, drive revenue and increase player satisfaction.

Kindred Group is an extremely well-regarded brand in the industry, and this partnership is not only an opportunity to meet all its payments needs, but further expand our footprint in the US.” 

PXP Financial currently has a significant market share in the US, and as gaming continues to grow in the region, more operators are recognising that providing the right payment solutions package plays a crucial role in driving retention and player loyalty. In fact, research shows 49% of gamers would deposit more with better withdrawal options. 

Mickael Marceau, Director Payment Solutions Kindred Group added: “As a business that has its origins in the gambling industry, we know the PXP platform is built for today; making payments flexible, instant and global. We’ve been collaborating with PXP Financial for a while and have been impressed with the team’s proactivity and gambling expertise. We’re now excited to get the partnership off the ground and see how it can improve our customers journey.” 

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, 200+ alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com.  

About Kindred Group 
Kindred Group is one of the world’s leading online gambling operators with business across Europe, US and Australia, offering over 30 million customers across 9 brands a great form of entertainment in a safe, fair and sustainable environment. The company, which employs about 2,000 people, is listed on Nasdaq Stockholm Large Cap and is a member of the European Gaming and Betting Association (EGBA) and founding member of IBIA (International Betting Integrity Association). Kindred Group is audited and certified by eCOGRA for compliance with the 2014 EU Recommendation on Consumer Protection and Responsible Gambling (2014/478/EU). Read more on www.kindredgroup.com.  

The collaboration provides PXP Financial’s customers with safe, compliant and efficient cross-border payments and international transfers

17th of March 2023 – PXP Financial, an expert in acquiring and payment processing services, has today announced a new collaboration with global technology company Mastercard and payments infrastructure provider Payall, to deliver safe, compliant and efficient cross-border payments and international money transfers.

This collaboration offers inclusive payment capabilities that enable PXP Financial's customers to send funds to their partners, employees and suppliers safely, efficiently and more conveniently than ever. This includes inclusive pay-out options to recipients regardless of whether they are banked or unbanked. The next step for PXP Financial is to work with Payall to open new destinations and new payment channels, including sending to mobile wallets, cash pickup locations and paying direct to card.

PXP Financial began working with Payall in mid-2022, having chosen Payall for its focus on payments compliance and safety, as well as its cutting edge, fintech-level experience for end users. Payall offers financial institutions worldwide a new paradigm for offering cross-border payments with first-ever capabilities that transform international money movement.

Mastercard gives people and businesses a secure and convenient way to send money to bank accounts, mobile wallets, cards and cash payout locations around the world. Mastercard Cross-Border Services reaches more than 100 markets and 90% of the world’s population.

Commenting on the announcement, Kamran Hedjri, CEO of PXP Financial, said: “We’re delighted to be working with Payall and Mastercard to facilitate cross-border payments, which have traditionally been slow, cumbersome and risky for both payers and financial institutions. By leveraging Payall's proprietary compliance tech and Mastercard's innovation moving funds globally, we are now able to offer our customers speedy, safe and simple access to international payments.”

Gary Palmer, CEO of Payall, added: “With a focus on international funds transfer compliance, process automation and payment orchestration, we deliver turnkey technology and power new paradigms that eliminate the inefficiencies and address the complexities of cross-border payments. We’re thrilled to support PXP Financial to deliver better-than-fintech service to its customers making international payments.”

Rasika Raina, SVP, Mastercard Cross-Border Services, said: “Whether sending money home to families or working with global suppliers, the need for fast, reliable and transparent payments has never been more crucial. Through programs like this, we’re making cross-border payments safe, fast and easy for everyone.”

About PXP Financial

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by in-house acquiring, 200+ alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through our unified gateway. Whatever your business needs today or tomorrow, PXP Financial’s innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com.

Contact us at: crossborderpayment@pxpfinancial.com

About Payall www.payall.com

Payall is the first-ever provider of enterprise infrastructure enabling financial institutions worldwide to offer fast, transparent, inclusive and cost-effective cross-border payments. Novel infrastructure supports processing that’s external to financial institutions’ systems and their domestic payment networks for fast, no-tech integrations that are compliant and secure. Process automation eliminates the costly and error-prone manual effort of compliance, and inclusive payment orchestration enables senders and recipients—from the financially savvy to unbanked individuals—to choose the payment type that best meets their needs.

About Mastercard (NYSE: MA) www.mastercard.com

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

Mastercard Cross-Border Services may be provided by Mastercard Transaction Services Corp. through its subsidiaries and affiliates. In some jurisdictions, services may be provided by subsidiaries or affiliates that hold licenses to engage in money transmission. In the UK, Mastercard Transaction Services (UK) Ltd. is authorised by the Financial Conduct Authority under the Payment Service Regulations 2017 (ref. no. 764057) for the provision of payment services. For a full list of jurisdictions, see crossborder.mastercard.com/licenses.

This year’s United Nations International Women’s Day, 8 March 2023, centres on the theme “DigitALL: Innovation and technology for gender equality.” It draws attention to women’s lack of access to the internet globally, as well as the barriers faced by women in professional fields.

Some key facts:

• 259 million fewer women have access to the internet than men, despite making up nearly half the world’s population. The UN says this could have dire consequences just for women, but for everyone on Earth.
• 75% of jobs will be related to STEM areas by 2050, so it is vital to sustainable economic development that women are empowered to fill positions in these key technological industries.
• Research by McKinsey found that companies with better gender diversity were 21% more likely to experience above-average growth.
• When one study asked respondents to name a famous woman in tech, only 22% were able to do s

Though it is far from the only barrier to women fulfilling and progressing in STEM careers, lack of representation remains a problem.

This International Women’s Day, we want to share the experiences of women in leadership at PXP Financial and their views on gender diversity in payments. So, we spoke to six women who have been making waves across very different areas of our business: 

• Anda Grodsky, Managing Director for Vienna
• Madeleine Reynolds, Co-Head of HR
• Cecile Lamande, Senior Project Manager
• Ivanna Tsyba, Senior Legal Counsel
• Mirta Devic, Marketing Specialist
  
• Agota Kiss, Team Lead for Commercial Support

Q1: How have you seen payments, and the financial sector as a whole, changing to become more inclusive, and what needs to happen for these career paths to become more inclusive for women?

Madeleine: “Since 2020 and the lockdowns, the tide in the world of work has really turned towards genuine flexibility, be It location or hours, and with flexibility comes inclusivity as far more people are enabled to enter or re-enter the workforce, contribute their ideas and ways of working to the success of the businesses they work for. Most sectors (including finance) are openly talking about, and advocating for, change in the way inclusivity and diversity are seen and addressed in a work context, so that too has made a positive impact.”

Agota: “The financial sector, similarly to technology and science, has been historically dominated by men, but the exponential growth and digitalisation calls for new creative solutions. To deliver products that are accepted and appreciated by all of society, we need representation from all of its members.

“I have seen and applaud many changes that have been made to attract women to finance, for this trend to continue it’s important to focus on retention too. Accommodating the reality of leading a private life and building a career at the same time might seem difficult for a business, but it is the way forward. Flexible work arrangements, protecting the space created by talent – be it women or men – is not only good for the gender equality bottom line, but makes a safe environment where growth of individuals and business takes place.”

Cecile: “I see education as a key issue. It should be made clearer at a very early stage in a person’s education, and I think both children and parents need to be educated on this, that any career path related to science, mathematics, and IT, is not reserved for boys only. More women being empowered from an early age to study in these fields could lead to more women working in the finance industry, as well as other sectors where women are underrepresented. 

“To take an example from my own experiences, when I decided to study Mathematics and Physics at university, I was discouraged by some in the education system, even though I had more than the necessary academic requirements to do so. I entered my desired program regardless and achieved great results. I hope with time this kind of limiting approach will disappear, leading to a more balanced workspace.” 

Q2: How have you experienced gender diversity at PXP Financial?

Madeleine: “PXP Financial is a working environment where people can be their authentic selves, and in my experience the business is people orientated at its heart. In my own team we are 50% part-time and 83% female. I have never felt becoming a mother as a road bump or limiting in my career at PXP Financial, I was promoted during my pregnancy and on returning to work part-time I have continued to progress to co-lead the HR team, alongside my colleague in another location, who has progressed to lead the team also. The fact that PXP supports job sharing and understands the benefits of co-work and diversity in teams at all levels is a great example of how we are embracing the power of gender diversity.

“In my team alone, we have several different cultural backgrounds, interests and languages (believe up to seven different languages). I learn something new every day from the people I work with. I love that!”

Anda: “I strongly believe that at PXP Financial opportunities are given to the ones that go after them, no matter what your gender, age, race, and background. I feel we are in an environment where skills, knowledge, drive and ambition are rewarded and appreciated. If you have got what it takes for the job that needs to be done, then it’s yours!”

Mirta: “PXP Financial has employees from all over the world, just in our Vienna office there are at least 10 nationalities in the same workplace, and it truly is a diverse and inclusive business where everyone has the same opportunities to progress. PXP is great at recognising the unique experiences and needs of each employee. Since I joined, I have felt that it is a safe and supportive environment, with leaders open to feedback. It’s not just that everyone gets the same opportunities, we also get the individual support we need to succeed and reach our full potential.”

Q3: As a woman in leadership in a sector well-known for its gender glass ceiling, what career or business advice would you share with a younger version of yourself?

Anda: ‘’Always keep in mind that you are playing the same game as everyone else! Why should you need to act differently to the other players because of your gender or anything else – just go on and play at the same level, believe in the value of your contributions.’’

Madeleine: “Only compete with who you were yesterday, and don’t look down on anybody unless you are helping them up. Life and your career are all a journey, real happiness links to being and appreciating the moment, enjoying the ride and the relationships you make on the way. Be as kind to yourself as you would be to others.”

Cecile: “I would advise myself to proactively ask for more from my career, instead of passively waiting for good things to come to me. I always worked hard, candidly thinking that I would naturally be rewarded. I realised later this is not how it works. So, to my younger self I would say: "You are competent, go out there and defend your interests, nobody will do it better than you."

Ivanna: “I would advise myself to apologise less, appreciate my own work more and be less hesitant about taking up other people’s time to explain my point of view.” 

Agota: “When it comes to gender, that women don’t need to ‘compete’ with men in what we bring to the table. Women bring perspective and balance in many forms.”

PXP Financial is one of the leading providers of payment services in the world and we are always looking for talented people to join us. Find out more about the careers we have on offer at https://www.pxpfinancial.com/careers

Returning for 2023 ICE London reminded us yet again why it is a must attend event for the international gaming community. This year was bigger and better than ever with record-breaking attendance over 40,000 people from 68 countries were present at #ICELondon2023.

Needless to say it was an incredibly busy and action packed few days, with lots discussed and so many events held we have made it easy for you & picked out our four key takeaways.

1) ICE reminded us that payments are a driving force in gaming

Payments are a revolutionary power within the gaming industry especially given the gambling industry’s dedicated relationships with the banking sector. Payments discussions were ever present again at ICE 2023 including alternative payment methods,  customer experiences and international growth opportunities. While gaming providers at ICE were demonstrating an understanding of the crucial role payments have in their future.

It's clear that the time is now for payment companies to step forward as the process should be so seamless and convenient that it is near-invisible. Customer experience should be at the forefront of the gaming industry and that is what motivates us to keep providing innovative payments solutions.

2) Technologists and regulators in symbiosis

The dynamic relationship between changing regulations and technological innovation was a key topic at ICE London 2023. The question is how can regulation and legislation keep up with the ever-evolving space of technological innovation?

Sarah Fox, the UK Government’s Deputy Director for Gambling and Lotteries, gave an update on the long-awaited UK Government Gambling Act White Paper. While the UK continues to delay updating its regulation and legislation the gaming industry isn’t waiting – it is progressing at pace. The question is will the White Paper be out of step with technology by the time its finally released?

Gaming companies are increasingly operating at an international scale which has implications for developing effective regulation. Operators and regulators must collaborate for the foreseeable future as  payment companies must be able to combine multiple products and market offerings while simultaneously navigating the fragmented nexus of regulation.

The world of payments is dynamic and here at PXP Financial we are too. We have offices in five different countries and employees from across 25 nations. At the last count our colleagues speak over 30 languages combined. ICE 2023 proved the importance of having an international outlook and proactively reacting to any new regulation with our dynamic global payments offering.

3) Online and offline experiences

Much of the gaming world is still struggling to develop its online presence.

Reconciling the online virtual space with the offline physical presence to provide a hybrid offering is proving challenging. KYC (Know Your Customer), on-boarding, and security requirements of being an online gaming license holder were identified as some of the key problem areas that casinos are currently dealing with on a regular basis.

To overcome this hurdle and cross into the virtual there are steps that we can take as an industry. Perhaps one of the most important of these is to call for greater technological standardisation between providers. Furthermore we should promote an open dialogue between all stakeholders so that we can learn about shared challenges, effective solutions, and the latest innovative technologies.

ICE London 2023 provided a strong platform for the gaming community to come together and have these conversations. We are – as the theme for ICE London 2023 attests – stronger together.

4) Tech is great, but it's still a people business

Our final takeaway is that it’s not all about the tech as we are an industry of people at the same time. Sometimes it’s very easy to focus on the great number of exciting technologies that are being developed and sideline the assets of people this takes to achieve. However it is the people – the customers, regulators, technologists, researchers, and many more – that make the industry what it is.

Equality, diversity, and inclusion (EDI) was a theme that ran throughout ICE London 2023. Events included a high-profile SheSports showcase and a full-day seminar hosted by three different women’s gaming networks. Participants discussed how to attract and retain a diverse workforce, something particularly important following the pandemic-induced disruption to staffing. We must all work together to build an inclusive industry that is attractive to the workforce of the future.

Here at PXP, we may be world leaders in payments, however, we are not just about the payments – we are about the people too. We were incredibly delighted to host a VIP dinner at ICE London 2023, bringing together industry experts for an enjoyable and interesting evening. Above all else, gaming is an industry of people.

ICE London 2023 was an incredible set of days, offering everything from an energetic street-dance routine to industry insights across a whole host of areas. ICE set the theme of ‘stronger together’ and we cannot think of a more poignant message. Only together can we push the boundaries of the gaming industry. Companies like us are – and will continue to be – central to the effort. Just as engines power a car, we power the payments necessary to drive industry success. We are excited to see how our takeaways materialise throughout 2023. ICE London, see you in 2024.

About PXP Financial

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by global acquiring, 200+ alternative payment methods & financial services, PXP Financial family of companies processes globally over EUR 22.7 billion annually through our unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com. 

By Kamran Hedjri, Group CEO, PXP Financial

ICE 2023 is almost upon us and we’re excited to share the floor with gaming professionals and industry innovators. But we’re not just there to mingle – we’ll be sharing our payments expertise to help gaming operators grow their customer base, increase revenue and streamline their business.

Specifically, we’ll be talking about some of the need-to-know the payment trends that will shape the gaming industry in 2023…

Put your wallet away

They’re a staple last-minute gift, and you may have received a lovely new cash-carrier in December, but one in five Brits don’t expect to carry a physical wallet or purse at all in the next five years.

Last year saw a surge in digital wallet adoption, driven by the increasing number of options available, such as Apple Pay, Google Pay and Samsung Pay, as well as regional offerings.

This trend will continue in 2023, with estimates suggesting 1.6 billion global consumers will pay with digital wallets at the point of sale (POS) this year. That’s 30% of POS payments.

And it’s not a trend that’s restricted to in-person payments. For online shopping, 38% of consumers globally say a digital wallet is their preferred payment method. Thanks to the convenience, flexibility, and security digital wallets offer, you can expect them to become the standard for all types of payments very soon.

Bad news for anyone stuck for gift ideas this year, but it’s good news for gamers. Major industry organizations, casinos and technologists have increasingly rallied around digital wallet technology to anchor the customer gaming experience.

This year, gaming companies will continue to embrace and develop digital wallet technology, so if you haven’t already, look at modifying slot machines and service kiosks to accommodate QR codes and tokenized wallet transactions. 

A new POS Strategy

This growing expectation that digital wallets will be accepted everywhere will naturally impact the traditional point-of-sale.

Until recently, bricks and mortar gaming facilities have been a stronghold for paper cash, coins and ATM lines. But casinos and other gaming establishments are now accelerating their push towards accepting digital payments.

But they need to go a step further and understand the full potential of a modern POS system, which can do so much more than just allow you to accept and process payments. It can help you run your operation with ease through real-time reporting, employee and inventory management, and more. 

The right POS system also provides seamless operational capabilities that don’t interrupt the player experience in any way, and combine point-of-sale functionalities with specific casino software.

Mobile POS systems are increasingly popular among establishments looking to accommodate touchless payments, and the adoption of cloud-hosted POS solutions is likely to gain traction over the coming years.

Looking further ahead, as more and more players turn to online games to socialise and spend their free time, the online gaming industry has been buzzing with talk of the metaverse.

This is new territory for us all, but I can confidently say the metaverse will be a defining feature of online gaming in 2023 and beyond. The metaverse is still in its early stages, so there isn’t a single payment system that’s been widely adopted. However, moving forward payment systems will need to work with both fiat and cryptocurrencies.

The metaverse is fast approaching, with huge investments bringing it closer every day. In this brave new world, crypto will come into its own, having many advantages when it comes to buying and selling digital assets, and offering near-instant cross-border transactions at a fraction of the cost of current fiat-based payment systems.

Gaming businesses – whether they operate on or offline – need to be ready for this change.

The benefits of Open banking

Converting and retaining players is critical to long-term success, and building trust is a critical element. This is especially true when you’re taking payments.

Open Banking now has more than 6 million active users in the UK. It opens up access to financial data and direct-to-bank payments for gaming operators.

When making an online payment, the user is no longer redirected to an e-payment interface, such as a credit card payment gateway. Instead, when the player wants to fund their account, operators can execute direct payments as a trusted holder of login and transfer credentials that have been pre-authorised by the player.

By using open banking technology, operators can connect their app or website directly to a player’s bank account, access rich financial and identity data, and make direct payments to any account. They can also access account ownership data to use in the KYC process and analyse transaction history to weed out fraudsters.

All this means less friction for customers, and reduced complexity and cost for operators. It also gives operators a better understanding of spend in the context of a player’s broader financial situation. Using open banking, operators can analyse outgoings such as loan and rent payments to identify at-risk players, block gameplay or put spending caps in place. This kind of responsible gaming has never been more important.

Payment partners who play to win

The modernisation of payments is increasingly important across all industry sectors. As gaming operators, your customers are among the most tech-savvy in the world, and expect you to deliver fast, secure, easy, cashless payments.

The right partner can help you stay ahead of, and capitalise on, these trends. We work with several gaming companies worldwide, tailoring the perfect combination of global and local alternative payment options to make sure their customers can cash in any way they like.

Don’t underestimate the power of the right payment solution to help cut costs, drive revenue and increase player satisfaction. Get it wrong, and it’s game over.

About PXP Financial

PXP Financial is the global expert in acquiring and processing services to help businesses simplify and support their global payment needs. Whatever the requirements, PXP Financial can help build an unrivalled secure, frictionless commerce experience – all based on the latest technology, whether on-premise, online, mobile, in-app or mail/phone purchase.

To find out more visit https://www.pxpfinancial.com/