Swedish Gaming Industry Faces Regulatory Challenges with Unlicensed Payment Providers

In Sweden's licensed gaming sector, a growing concern has emerged over unlicensed payment providers like Finshark, which have been reportedly facilitating transactions between consumers and unlicensed operators. This issue, first raised in September by regulated operators, has now intensified with allegations to Infiniza Ltd, a Malta-based company operating without the Swedish license.

Despite holding a license from the Malta Gaming Authority since 2018, Infiniza Ltd is accused of using the national identity verification system BankID and major Swedish banks for transactions. This operation, involving instant payment provider Krofort, lacks clear licensing information, raising questions about regulatory compliance.

This situation has exacerbated the challenges for licensed operators in Sweden. They argue that unlicensed competitors gain unfair advantages by using fast payment services, a critical expectation among domestic players for quick transactions.

In response, the Swedish Gambling Authority (SGA) has the right to block payments to unlicensed operators. Earlier actions included instructing Zimpler to cease payment solutions for unlicensed entities. However, the industry awaits more definitive actions from the SGA.