Zimpler will leave the gaming market
Zimpler is one of the most well-known and popular payment services at online casinos without a Swedish license. Many Swedish players choose to use this service because Zimpler is a Swedish payment method. This company offers smooth payments that are easy, fast, and secure. Now, Zimpler wants to leave casinos without a Swedish license. This means that it will become more difficult to make payments at foreign casinos. In this article, we will tell you about this decision that will be made by Zimpler AB. Read and learn more about it!
What is Zimpler?
Zimpler is a payment service used by customers to pay for goods and services online. The service originated in Sweden and was launched in 2016. Zimpler offers simple and fast payment via mobile phone. To use Zimpler, the customer needs to create an account and link payment methods to it, such as credit cards or bank accounts. When the customer then makes a payment through Zimpler, the amount is debited from the selected payment method.
Today there are also a number of Zimpler Casinos without Spelpaus that offer their services to Swedish players who want to play at casinos without borders. Therefore, it is important to know about this decision that will be made by Zimpler AB. Zimpler Casinos are popular among Swedes and this news will affect the convenience of players when gambling. However, it should be noted that there are different nice alternatives to Zimpler that we will mention later.
A strong focus on online casinos and the gaming market
Zimpler’s main revenues come from the gaming industry, particularly from online casinos with licenses from Estonia and Malta. However, a tenth of the revenues from the third quarter of 2022 come from gaming companies licensed by Curacao, which do not need to comply with EU anti-money laundering regulations.
According to Zimpler, however, they no longer have any revenues from Curacao Casinos. Zimpler has previously been criticized for enabling gambling at casinos without a Swedish license. But Zimpler defends itself by saying that the casino sites where they offer their services do not target Swedish players, which means they do not break any laws according to the company.
After the gaming market was re-regulated in 2019, many players visiting casinos without a Swedish license began using Zimpler as a payment method, as other payment services no longer allow transfers from Swedish banks to foreign gaming sites.
Zimpler’s revenues have increased significantly faster since their biggest competitor, Trustly, stopped cooperating with casinos without a Swedish license. Trustly instead chose to focus on customers in the UK and the US after their planned IPO was canceled in 2021.
Zimpler’s sales revenues increased by 227 percent during the third quarter of 2022, while the number of employees increased from just under 100 to 180 in one year. These results are largely due to Zimpler continuing to allow payments at casinos without a Swedish license, while competitors do not.
Popular payment service to disappear from casinos without Spelpaus
Zimpler has recently hired a foreign investment bank to attract investors, a process that could involve a sale of the entire company or a capital raise at a high valuation.
While it is expected that Zimpler is seeking investors due to their significant success in recent years and high valuation, the process is still in its early stages according to sources. A potential exit from the Swedish market would have a significant impact on both Zimpler and unlicensed gaming companies, particularly those with a large share of Swedish players.
Zimpler’s current presentation material shows that over 75 percent of the payments that the company facilitates come from Sweden, while a large portion of their revenues come from casinos without a Swedish license.
Zimpler’s exit will impact casinos with a Swedish license
When Zimpler no longer offers its services in Sweden, it will become significantly more difficult for Swedish players to play at unlicensed casinos without a Swedish license, which may lead to more players choosing licensed casinos instead.
This could increase the number of Curacao casinos that choose a Curacao license because payment companies no longer need to comply with EU money laundering laws when offering their services to casinos based outside the union.
Zimpler’s withdrawal from the Swedish market, along with an update of the gambling law that makes it harder for payment companies to offer their services to unlicensed casinos, can thus have significant consequences for the entire Swedish gambling industry.
Alternatives to Zimpler
There are several alternatives to Zimpler that offer payment services to casinos without a Swedish license. Below, we will tell you about alternatives to Zimpler. To make deposits, you can use:
- Paysafecard and other prepaid cards;
Skrill is an e-wallet that allows users to make fast and secure payments to casinos and other online companies. You can find a number of casinos with Skrill that operate in gaming markets. Neteller is another popular e-wallet that allows users to deposit and withdraw money from casinos without a license. Paysafecard and other prepaid cards, such as Astropay Casino, allow users to purchase a PIN code and use it to make deposits at casinos without a license. Some unlicensed casinos also accept payments with cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Check out our top list of the best Bitcoin casinos.