Tag Archive : Cards

Generation X Members Most Likely to Use Credit Cards to Gamble

Generation X, those born between 1965 and 1980, is the demographic cohort that is more likely to use credit cards for gambling purposes as opposed to millennial gamblers, according to a new research by payment services provider PXP Financial.

PXP Financial surveyed a group of delegates at this year’s ICE London gambling industry conference. The payments firm used the interviews it conducted as the base for its ‘A conversation about payments: Differences in generational betting’ paper.

The recently conducted research found that the majority of Generation X members (59%) use credit cards to gamble.

On the other hand, millennials, that is to say those born between 1981 and 1996, are most likely to use debit cards for gambling purposes. About 49% of all of PXP Financial’s millennial respondents said that debit cards were their primary payment form when it came to gambling.

This rose to 53% when the payments firm included the use of debit cards through eWallets. In comparison, only 29% of all surveyed Generation X members said that they used debit cards to place bets or play at casinos.

PXP said that the Generation Z demographic cohort is yet to have a major impact on the online payments and gaming sectors. However, the payment services provider said it believes this will change over time.

Looming Credit Card Ban

The results from PXP Financial’s survey are revealed just days before the implementation of a credit card gambling ban in the UK.

Among the respondents at ICE London, 55% said that the looming ban would have a negative effect on the gambling industry. Among the Generation X members who participated in PXP Financial’s survey, about 67% said that the credit card gambling ban would have a negative effect on the sector.

It was in January when the UK Gambling Commission announced that a ban on the use of credit cards for gambling purposes would be introduced. The new rule is set to take effect on April 14 and aims to reduce gambling-related harm and protect vulnerable people.

Millennials are the group that spends the most while gambling, according to PXP Financial’s survey. About 52% of the survey’s respondents said that those born between 1981 and 1996 were the biggest spenders when it came to gambling.

However, at 33%, the majority of Generation X respondents said they believed their own generation was the one that spent the most on gambling.

Commenting on their recently released paper, PXP Financial CEO Koen Vanpraet said that it is their goal to “understand trends within various markets and how they will affect our clients.”

He added that they hope the insights provided “within this sentiment research will provide the industry with greater understanding of its target groups and help our clients with their market strategies.”

Source: How different generations pay for online gambling revealed – and UK credit card ban is bad news for Gen X

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Opera to Expand Crypto Purchase in US Enable Debit Cards & Apple Pay

Norwegian technology company opera has long been working towards achieving its Web 3.0 dream. As a part of that process, the Opera browser will now offer cryptocurrency purchases to its users in the US. This facility will be available in both mobile and desktop browser versions. Opera is executing this in collaboration with a U.S.-licensed money transmitter named Wyre. 

Opera users will now be able to buy Bitcoin (BTC) and Ether (ETH) directly from their crypto wallet in the Opera browser. Android and Apple users will need to use their debit cards and Apple Pay account respectively to make the purchases. 

Crypto purchases using the Opera mobile browser is already functional for over a year in the countries of Sweden, Denmark, and Norway. 

Opera’s crypto plans ahead
As of now, opera holds a fairly small market share in the US -at around 0.48%. In Europe, it has captured about 2.13% share. However, it is looking forward to rolling out crypto top-up facilities in other countries in the near future – starting with the US. 

Opera has claimed that users can start buying crypto using the Apple Pay solution in as less as 30 seconds. 

Opera’s crypto head, Charles Hamel commented, “In the past, obtaining cryptocurrencies was a cumbersome process that took hours or even days. When you compare it with this seamless solution, which takes less than 30 seconds, it really is a gamechanger.”

As of now, Opera claims to serve 320 million people worldwide. 

A bit about Opera
The company has been in service for more than 24 years. However, it has somehow been overshadowed by the likes of Chrome, Firefox, Safari, etc. In a quest to remain relevant, Opera is now looking to ease up the process of crypto adoption across the globe. It seems to have started the process by introducing a crypto wallet, a DApp explorer, and other security and privacy tools.

It would be interesting to note, how Opera’s crypto ambitions shape up in the near future.