Open Banking already supports bank payments and selected verification checks under PSD2. The EU’s next reform, PSD3 and the PSR, will update provider supervision, fraud controls, customer protection and Open Banking access. A provisional agreement was reached in November 2025, but the rules still require formal adoption and transition periods before they apply across the EU.
What PSD3 and Open Banking Mean for the Gambling Industry
PSD3, or “the payment services legislation will focus on the authorisation, supervision and prudential requirements for payment institutions, while the accompanying Payment Services Regulation (PSR) will set out many of the directly applicable operating rules for the EU (e.g., Enhanced fraud measures, Customer rights, Open Banking, payment transparency, etc.).
In this context, it should be emphasised that PSD3 and the PSR do not fully apply yet in the EU by July 2026. After the tentative political agreement (November 2025), they will be officially adopted before the applicable transition periods and, where applicable, transposition is implemented.
Payment verification may still be required for no-deposit promotions. Slotozilla’s guide to a free 300 casino no deposit bonus compares €300 free-chip offers, bonus codes and withdrawal conditions. Open Banking may support some account ownership or transaction checks during this process, but it does not replace standard KYC or AML requirements.
For online casinos, Open Banking may simplify certain payment and account-verification processes. They may also reduce barriers for licensed Open Banking providers, give users more control over data-sharing permissions and improve oversight of payment institutions.
| Area | Traditional Process | Open Banking Approach |
| Identity verification | Users may upload documents such as IDs and proof of address | Verified account ownership, account-holder information and transaction data may support parts of the verification process. |
| Payment security | Card payments often involve additional verification steps | Secure account-to-account payments reduce the need to share card details directly. |
| Transaction monitoring | Operators review payment activity through available records | Authorised transaction data may assist compliance reviews alongside existing AML procedures. |
| User experience | Registration and withdrawals may require several steps | Some checks may take less time when verification is automated. |
Open Banking may make verification more consistent. The exact process still varies between payment providers, casino operators and jurisdictions.
How KYC and Payment Checks Are Evolving
Regulated online casinos usually perform KYC checks that may include identity verification, age verification, proof of address, payment-method ownership and, where required, source-of-funds checks. Higher-risk situations may also require source-of-wealth verification. These measures support AML compliance, fraud prevention, sanctions screening and other regulatory obligations.
Open Banking can provide an additional source of verification. With the customer’s consent, authorised providers may verify selected account ownership details, account-holder names and transaction information electronically. This may reduce some manual reviews, but it does not replace identity documents, age verification or other mandatory compliance checks.
Open Banking may support AML monitoring adding authorised transaction data to existing compliance checks. PSD3 and the PSR are also expected to strengthen fraud prevention, improve customer protection and make Open Banking easier to use. Key expected benefits include:
- Faster customer onboarding when some checks are automated.
- Fewer manual reviews for selected account-verification checks..
- Easier monitoring of payment activity.
- Stronger controls against payment fraud.
- Smoother deposits and withdrawals for verified users.
These changes may improve efficiency without removing existing regulatory duties. Identity checks, AML controls and local legal requirements will still apply.
What This Means for Online Casino Operators and Players
PSD3 and Open Banking could have a major impact on how online casino operators process payments and stay compliant. Businesses will need suitable payment providers, updated systems and proper protection for customer financial data. The timing will vary by market, depending on regulation, implementation costs and provider readiness.
Benefits for Online Casino Operators
Open Banking enables operators to streamline aspects of their KYC and payment processes. Some routine checks could be automated, leaving less work for manual review and giving compliance teams more time for difficult cases. For operators, Open Banking may offer several advantages:
Open Banking may reduce routine KYC work, lower fraud risk, speed up transaction reviews, simplify reporting and improve payment-system integration. It may also reduce processing costs for some account-to-account payments. Open Banking still requires operators to invest in security and data protection. Compliance controls must also remain in place.
What Players May Gain
Players may see faster verification and easier payments. Open Banking may cut some registration checks while letting users decide who can access their financial data. Possible benefits include:
- Quicker checks of identity.
- Secure account-to-account payment connections.
- More efficient deposits and withdrawals.
- Fewer manual checks.
- Improved registration.
Users must consent to data sharing and understand what access they are allowing. Available features depend on the user’s location, bank and Open Banking provider.
Overall, PSD3 and Open Banking can become more significant in payment verification throughout gambling operations, making operations not only smoother but also safer. According to Slotozilla writer Marie Toland, payment innovation is particularly useful when it removes barriers to operations without undermining mechanisms for verifying customer identities, managing money-laundering risks, or protecting sensitive data.
The Future of Casino Payments
Open Banking already supports payments and selected verification services under PSD2 across many European markets. PSD3 and the PSR are expected to strengthen fraud prevention, improve oversight of payment institutions and expand Open Banking. They may also introduce clearer rules for payment providers.
After formal adoption and the relevant transition periods, the reforms could improve payment verification and compliance for regulated online casinos. Existing KYC and AML duties will still apply.
