IGSA forms new committee for the establishment of payment standards

The International Gaming Standards Association (IGSA) announced the creation of a Payment Standards Committee, with Aristocrat Gaming, AXES.ai, Oregon Lottery and Playtech as its first members.

The Payment Standards Committee will seek to create a series of standards governing online, mobile and other payments for all segments of the global gaming industry, the association explained in a statement.

The Payment Standards Committee will 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,” it noted.

Peter DeRaedt, President of IGSA, explained: “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,” DeRaedt added. 

Back in January, IGSA announced its 2023 Technology Summit, set to focus on sports betting and cyber security, which will take place March 15-16 at the Italian American Club of Las Vegas.

“We are so excited with the world-class, all-star line-up of speakers that are coming from all over to share their expertise and experience.” He explained that the rapid growth of sports betting and the accelerating risk of cyber threats has created “incredible interest in this event,” DeRaedt stated when it was first confirmed. 

“IGSA is thrilled to create this event for our members to ensure they have the best tools to embrace the opportunities and counter the threats. Most importantly, this event will fuel standards, protocols and regulations as we interact with speakers and our members,” he added.