MUNICH, Sept. 16, 2020 /PRNewswire/ -- IDnow, a
leading Identity verification specialist, welcomes that
Germany's 16 states have agreed to
a transition period incorporating the new and upcoming legal
framework by October 15th. This
transition clarifies existing and new mandates including, and
importantly, age verification requirements for online gambling. The
new regime officially enters into effect in July of next
year.
IDnow, in its mission is to make the connected world a safer
place, is pleased about this decision among the German states. The
company looks forward to supporting the operators in order to
provide greater safety for users. For IDnow, this ensures better
protection for customers under German law as well as clearer rules
in regard to responsible gambling.
"This is a big step for Germany's online gambling industry, and again,
it shows the importance of eKYC methods and their need to evolve.
In a world that becomes more and more digital by the day, we need
to stay vigilant and constantly adapt our security requirements,"
says Rayissa Armata, Head of Regulatory Affairs at IDnow. "IDnow
strives to contribute to responsible corporate citizenship,
ensuring that the social responsibility for this industry can be
achieved effectively through innovative methods. This is the strong
desire of the federal and state governments within Germany, and IDnow has been and – will
continue to be – an active supporter of those efforts," she
adds.
"We have developed our products together with our clients – the
biggest players in the market – , to perfectly meet their needs.
IDnow offers AML compliant video verification, but also an approved
automated verification solution. Gambling operators can choose,
depending on their security needs, which of those multiple
solutions they want to use. All of them fulfill mandatory age
verification requirements," says Oliver Obitayo CSO at IDnow. "To
us its more than important that our clients can offer safe
service platforms to customers so underage use can be prevented,"
he adds.
After a period of uncertainty, each of Germany's 16 states have agreed to a
transition period for online gambling in Germany before the official start date of
July 1, 2021. This transition period
is noted by the shared agreement to not punish gambling companies
who conform to the new law that will officially go into effect next
year.
In January 2020, the German states
agreed on an amendment to the State Treaty on Gambling
(Glücksspielstaatsvertrag) that also comes into effect July 1, 2021. This date was partly put into
jeopardy, as was the process to issue sports betting licenses, in
the first half of this year when matters came to a halt due to a
court injunction sought by an Austrian gambling operator.
In a welcome development last week, Germany's 16 states agreed to a transition
period for gambling activities. This will allow operators to offer
casino style gaming and poker as long as such activities are
fully-compliant with the draft for the new
Glücksspielstaatsvertrag. Online gambling operators must meet all
licensing requirements by an October
15 deadline. This will include an Age Verification (AV)
solution for online operators.
Under the new and upcoming regulatory regime, the following
changes will be implemented:
- It will be possible for German players to play online
casino games and online poker under strict regulations
- A wagering limit of €1 will be placed per spin for slot
games
- The number of licenses for table games will be limited to the
number of physical locations for casinos in each state
- A €1,000 deposit limit will now be implemented across all
online gambling verticals in Germany.
With the recent acquisition of Wirecard Communication Services
into the IDnow Group, the Munich
based company has created additional capacities and possibilities
for more flexibility in order to be able to adequately support its
customers in every situation.
About IDnow
With its Identity Verification-as-a-Service (IVaaS) platform,
IDnow has set out to make the connected world a safer place.
IDnow's unmanipulable identity verification is used across
industries conducting online customer interactions that require a
high degree of security. IDnow uses Artificial Intelligence to
check all security features on ID documents and can therefore
reliably identify forged documents. Potentially, the identities of
more than 7 billion customers from 193 different countries can be
verified in real-time. In addition to safety, the focus is also on
an uncomplicated application for the customer. Achieving five out
of five stars on the Trustpilot customer rating portal, IDnow
technology is particularly user-friendly.
IDnow covers a wide range of use cases both in regulated sectors
in Europe and for completely new
digital business models worldwide. The platform allows the identity
flow to be adapted to different regional, legal, and business
requirements on a per use case basis.
IDnow is supported by venture capital investors Corsair Capital,
BayBG, Seventure Partner, G+D Ventures as well as a consortium of
renowned business angels. Its portfolio of over 250 customers
includes leading international companies from various industries
such as Bank of Scotland, BNP
Paribas, Commerzbank, eventim, Raisin (Weltsparen), Sixt,
solarisBank, Telefonica Deutschland, UBS and Western Union as well
as fintechs such as Fidor, N26, smava, and wefox.
Press contact:
Christina Schwinning
press@idnow.io
+49 89 41324 6054