Shareholder of IBOX BANK Alyona Shevtsova on Acquiring For Casinos With CRGL License in Ukraine and Prospects For the Industry

Shareholder of IBOX BANK Alyona Shevtsova on Acquiring For Casinos With CRGL License in Ukraine and Prospects For the Industry
22.09.2021

The largest gambling exhibition in Ukraine – Ukrainian Gaming Week 2021 took place on September 14-15. IBOX BANK became the transactional partner of the event.

In an interview with UGW team, Alyona Shevtsova – shareholder at IBOX BANK and CEO at LeoGaming fintech company spoke about the acquiring services provided to licensed gambling operators in Ukraine and explained why the bank decided to expand its scope of activities through cooperation with representatives of the gambling industry. She also shared her impressions of the last exhibition.

The interviewer: Ukrainian Gaming Week (UGW)

The respondent: Alyona Shevtsova (A.S.)

UGW: IBOX BANK has launched an acquiring service for casinos licensed in Ukraine. How is the procedure for accepting payments carried out?

A.S.: The procedure is implemented using a special MCC 7995: gambling transactions. As you know, this merchant category code is used by international payment systems Visa and Mastercard to mark transactions, including bets, purchases of lottery tickets or other goods/services that are used for gambling. Such activities can be provided by an institution with an appropriate license issued by the regulatory body. In Ukraine, this is Commission for the Regulation of Gambling and Lotteries (CRGL). In other words, the global practice of this market is being introduced in Ukraine.

UGW: How can gambling business owners integrate the Internet acquiring service? What documents are necessary for this?

A.S.: First of all, the license to carry out activities issued by CRGL. As you know, to obtain it, you must pass an audit for compliance with all the requirements and make a mandatory payment for the license.

There are 5 types of gambling activities in the law, for each of which you can obtain a license for no more than 5 years:

  • Offline casino.
  • Online casino.
  • Betting.
  • Online poker.
  • Slot machines.

Based on the result of the check, each of the licensees can start working with acquiring from IBOX BANK.

If we talk about other documents, then they largely duplicate the main documents on integrating acquiring for other categories, but in a more extended version. These are copies of statutory documents, the auditor's conclusion about the origin of money in the authorized capital, a certificate of no criminal record of managers, chief accountant and beneficiaries, information about the absence of communication between the applicant and persons under sanctions in Ukraine. They can be supplemented with documents for the premises (for an offline casino or a slot machine hall), as well as information about the impeccable reputation of the leaders and their lack of citizenship of the aggressor state.

UGW: Under what conditions does IBOX BANK accept payments to the casino?

A.S.: The terms of acquiring are individual, as the bank chooses an individual approach to each of the clients. In general, we focus on the competitive cost of acquiring in other markets of legal gambling, taking into account the Ukrainian peculiarities of the interchanging commission.

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UGW: What are the advantages of Internet acquiring from IBOX BANK?

A.S.: There are several advantages. The first is expertise. We started working on the market, where the tradition of payments is still being formed. This MCC is still new for the Ukrainian market due to the fact that the law was adopted and signed by the President not so long ago. But we have deeply studied the issue and are building an absolutely transparent model of work in accordance with the regulatory documents of the regulator and the rules of the international payment systems: Visa and Mastercard.

The second is our technical advantage. IBOX BANK has an experienced development team and business analysts who are constantly working to optimize conversions, merchant and customer convenience.

The third one is the individual approach, which is important both for the client and for us. Service quality should always come first, because quality is the best investment in quantity.

UGW: Under what circumstances can a bank refuse a gambling operator from integrating payment acquiring?

A.S.: Lack of a license from CRGL or non-compliance with the requirements of the abovementioned documents.

UGW: What other services can IBOX BANK offer to gambling business owners?

A.S.: At the moment, we have launched only acquiring and are actively setting up work in this direction. We try not to be scattered between projects, but to develop the announced service, because there is a demand for it.

UGW: Why did you decide to expand the scope of the bank's activities by providing services to representatives of the gambling industry?

A.S.: Because this is a very promising industry with a very high dynamics of development. Thanks to licensing alone, the Ukrainian budget received more than UAH 1 billion in a year! And this is just the beginning. In addition, licensing funds go to a special fund to support medicine, sports and culture.

IBOX BANK is actively implementing the strategy of a transaction bank and of course, is actively developing in the most promising areas of payment services. There are technical capabilities and successful global experience that can be implemented in Ukraine.

In addition, like any other, IBOX BANK is interested in the active integration of this industry into banking processes. The more funds the gambling industry will generate within the regulated legal and financial framework, the more control and understanding will be on the part of the regulator. Both business and the state will benefit from this.

UGW: What are your impressions from participating in Ukrainian Gaming Week 2021?

A.S.: The exhibition was organized at a high level, we were very pleased to be part of Ukrainian Gaming Week this year.

The industry is actively developing, and this took place during a pandemic. On the one hand, this stimulated the development of digital tools and accelerated many processes. On the other hand, building an industry community, which traditionally takes place offline, did not go so quickly. And the fact that most representatives from Ukraine and Europe were able to meet in two days, get to know each other and discuss cooperation opportunities is a definite plus.


Learn even more useful information about products and services for the gambling industry in the "News" section, on our pages in social networks and in the Telegram chat of the exhibition.

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