The Cost of Cards: Kris Deyanov from MiFinity Highlights the Drawbacks of Traditional iGaming Payments
- Gambling IQ
- 2 days ago
- 2 min read
MiFinity senior executive argues digital wallets and account-to-account transfers can reshape cashier economics and lift conversion rates in a debate published in GamblingIQ magazine.
Kris Deyanov, executive director and head of business development at MiFinity, sets out the case for reducing reliance on traditional card payments in the online gambling sector, in a debate published in GamblingIQ magazine.
The “Cost of Cards” article features in the annual payments report, 'Advancing the Game, 2026' from GamblingIQ. Deyanov – who has a decade of experience in payments at MiFinity – outlines the commercial challenges facing operators that depend heavily on legacy card rails.
“Operators relying on card payments face a range of commercial challenges, including lower approval rates in certain regions, issuer-driven declines, rising transaction costs, and exposure to chargebacks and fraud,” he says. “These factors can directly impact conversion and profitability.”
The problems, he explained, go beyond incremental costs. “Every abandoned deposit is lost revenue, and every failed attempt chips away at loyalty, so payment design has become commercial strategy,” Deyanov says. MiFinity’s position is that a superior payment experience delivers broader benefits. “MiFinity’s thesis is that a better payment experience can do more than shave a few basis points off processing costs,” he tells GamblingIQ. “It can reshape the economics of the cashier altogether.”
The shift is already evident in emerging markets. In Latin America, Africa and Southeast Asia, high mobile usage and low card penetration have made wallet-based and account-to-account transactions the default choice for many players. In Europe the transition follows a different path, driven by regulation and infrastructure rather than leapfrogging. “Even in Europe, the shift is gathering speed, though by a different route,” Kris notes. “Regulation and infrastructure, rather than sudden leapfrogging, are nudging the market towards a more digital, real-time future.”
MiFinity’s internal data, he added, demonstrates measurable improvements when operators optimise the full payment journey with eWallets and methods aligned to local preferences. In one operator case study, integration of MiFinity’s eWallet and localised options produced a clear uplift in approval rates. A second group that diversified away from heavy card dependence reported stronger retention and performance.
Kris concludes that the direction of travel is clear. “The future of payments in iGaming will be defined by flexibility, greater localisation, and speed,” he says. “That is not a slogan; it’s a business model. And, increasingly, it is the one winning the race.”
The debate appears in GamblingIQ’s May 2026 edition as part of its annual focus on payments innovation.
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