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.
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.
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.
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.
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.