New Payment Standards Committee Focuses On Safer Gambling

Written By Nicholaus Garcia on March 2, 2023
Payment Standards Committee For US Gambling

The International Gaming Standards Association (IGSA) recently announced the creation of a Payment Standards Committee (PSC). One goal of the new committee is to standardize payments for the US gambling industry.

IGSA is the largest technical standards organization in the country. The IGSA helps develop standards and protocols for the betterment of the global gaming industry. The association is among the most recognized entities between jurisdictional regulatory bodies and online and land-based operators.

Developing payment standards for the US gambling industry

The news comes with several US gambling entities already joining the PSC, including:

  • The Oregon Lottery
  • Playtech
  • Aristocrat Gaming

In a press release, Peter DeRaedt, President of IGSA, said:

“Regulators from all over the globe are constantly asking for guidance on how to create a safer payments landscape for their operators. This committee will assure our members that we will protect our industry.

I am proud of the Board of Directors to have embraced this project so rapidly since the arrival of our new Chairman, Earle G. Hall. Earle’s quest is to ensure payments are a shining source of new revenue for our industry whilst protecting the regulators and operators with a world-class standard. We invite the industry to join us.”

Payment standards aim to help protect the gambling industry

The new Payment Standards Committee will help establish a few things. The committee aims to create a series of standards governing online, mobile and other payments for all gambling industry segments.

Per the release, the committee will also: “Explore all avenues of payments to ensure that regulators have world-class, clear guidance on how to ensure their jurisdiction is protected at the highest level against fraud, theft, and other illicit activities.”

The IGSA’s membership includes entities from roughly 20 countries with input from regulators, operators and suppliers in over 30 countries.

Photo by PlayUSA
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Nicholaus Garcia

Nick Garcia is a senior reporter for PlayUSA. Garcia provides analysis and in-depth coverage of the gambling industry with a key focus on online casinos, sports betting and financial markets. Garcia has been covering the US gambling market since 2017. He attended Texas Tech University as an undergrad and received a Master of Arts in Journalism from Columbia College Chicago.

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