iGaming Payment Solutions
OpenPayd Review
Is It the Right Account Provider for Your iGaming Business?
A London e-money institution that issues virtual IBANs to gambling operators and to each of their players in 35 currencies, with a Maltese arm that has faced more than 80 scam-transfer complaints at Malta's financial arbiter and had its one adverse award annulled on appeal in February 2026.
- Trustpilot
- 1.8/5 (16)
- Founded
- Headquarters
- London, United Kingdom
- Regulator
- FCA
London, United KingdomQuick Info
- Type
- E‑money institution
- Class
- Own license
- Regulator
- FCA
- License
- 900483
- HQ
- London, United Kingdom
- Pricing
- On request
Our Verdict: Should You Bank With OpenPayd?
Final assessment for iGaming operators, studios and affiliates
Tier 2: on a regulator's register and open to gambling businesses
Summary
OpenPayd holds its own FCA e-money authorization (900483) and gives an operator virtual IBANs in 35 currencies, one per player if wanted, on SEPA, SEPA Instant, Faster Payments, SWIFT and open banking, with stablecoins outside the UK. The same virtual IBAN model drew scam-transfer complaints against OpenPayd's Maltese arm at the country's financial arbiter, and Trustpilot stands at 1.8 on 16 reviews, every one a single star from a scam victim. The decision turns on whether an operator wants its players paying into OpenPayd IBANs and runs the monitoring to screen every payment that lands in them.
Strongest Point
OpenPayd allocates an unlimited number of virtual IBANs across 35 currencies, so an operator can give every player a reference IBAN to fund by bank transfer and settle affiliates and suppliers from the same balance. Incoming SWIFT reaches the IBANs in 13 of those 35 currencies, among them EUR, GBP, USD, CHF and CAD, and SWIFT payouts go out in more than 40 currencies, with an express option for GBP and EUR. Stablecoins run outside the UK, and the group's Maltese crypto company, OP Digital Services, has been a MiCA crypto-asset service provider since June 23, 2026.
Key Limitation
Scam money arriving in OpenPayd's virtual IBANs is the risk an operator takes on with the per-player model. Malta's financial arbiter dismissed three complaints over such payments because the senders' own gross negligence caused the losses. In the same decisions it found that OpenPayd had no authority to credit the payments to the virtual IBAN holder instead of the beneficiary the sender named, and it passed those findings to the MFSA. An operator that gives each player an OpenPayd IBAN carries that exposure into its own cashier. OpenPayd also issues no cards and publishes no pricing or onboarding conditions.
Recommendation
Choose OpenPayd when the per-player virtual IBAN is the product you want and your transaction monitoring can match every incoming payment to the player who holds the IBAN. Get the price list, the onboarding conditions and written acceptance of your gambling license before you build the cashier on it. For a plain settlement and payout account with the price known up front, Bilderlings charges EUR 350 a month on its gaming tariff, plus 0.50% on incoming payments and EUR 1,050 for document verification.
Pros
- Own FCA e-money authorization since May 2018, with an MFSA financial institution license and a MiCA crypto-asset authorization in Maltese group companies
- Unlimited virtual IBANs, one per player if wanted
- SEPA, SEPA Instant, Faster Payments, CHAPS, SWIFT and open banking, with FX, on one account
- Stablecoin rails outside the UK
- API access
Cons
- In three scam complaints it dismissed, Malta's financial arbiter found that OpenPayd had no authority to credit the payments to virtual IBAN holders instead of the named beneficiaries
- Trustpilot 1.8 on 16 reviews, all of them one star
- No pricing and no onboarding conditions published
- No card program
Ready to open the conversation with OpenPayd?
On Record
1 enforcement or dispute item an operator should read before opening an account
- Feb 25, 2026. The Court of Appeal in Malta annulled in full the only award the Arbiter for Financial Services has made against OpenPayd Financial Services Malta Limited, holding that the complainant was not an eligible customer and leaving the merits unexamined. That award, ASF 155/2024 of February 28, 2025, had ordered OpenPayd to pay GBP 23,300 plus interest to a scam victim whose money went into one of its virtual IBANs. The Arbiter has ruled on more than 80 complaints of this kind against the company. In ASF 228/2024, 135/2025 and 223/2025 it found that OpenPayd had no authority to credit the funds to the virtual IBAN holder instead of the named beneficiary and sent the decisions to the MFSA, but it dismissed all three because the complainants' own gross negligence caused the losses. None of the three was appealed. Neither the FCA nor the MFSA has fined OpenPayd. source
Gambling Policy
Whether the company serves iGaming businesses, on what terms, and which licenses and client types it accepts
“Allocate virtual IBANs to every end user, so they can top up, get paid instantly, and move between fiat and crypto”
Our reading
OpenPayd runs iGaming as a vertical of its own, and the pitch reaches past the operator's treasury into the cashier, with a virtual IBAN for each player to top up, get paid and move between fiat and crypto. Its IBANs already carry gambling money indirectly, because OpenPayd provides the virtual IBANs behind the payouts of Yaspa, an open banking PSP that serves regulated gambling operators.
Licenses named as accepted
Client types named
License, Read in the Register
Entity, license type and number as the regulator prints them, with the date we read the entry
- Financial Conduct AuthorityRead , regulator's extract
SettleGo Solutions Limited · E-money institution · 900483
Authorised Electronic Money Institution (since May 17, 2018)
- Legal entity
- SettleGo Solutions Limited (trading as OpenPayd), 09570221
- Headquarters
- London, United Kingdom
- Founded
- 2015
- Class
- Own license
Safeguarding of client money
The provider publishes no safeguarding statement we could quote. Ask where client funds are held and under which regime before you fund the account.
The Account
What the operator actually gets on the account, and what it costs to open
- IBAN in your company's nameYes
Dedicated account, not a pooled reference
- SEPAYes
SEPA Credit Transfer, Faster Payments, open banking
- SEPA InstantYes
Instant euro transfers
- SWIFTYes
35 currencies, unlimited virtual IBANs, global payouts
- CardsNo
No card program
- APIYes
Programmatic access to payments and reporting
- Bulk payoutsNo
Not stated by the provider
- Crypto or stablecoinsYes
Stablecoins, outside the UK
- Card acquiring as wellNo
Accounts only, no player collection
| Feature | Status | Details |
|---|---|---|
| IBAN in your company's name | Yes | Dedicated account, not a pooled reference |
| SEPA | Yes | SEPA Credit Transfer, Faster Payments, open banking |
| SEPA Instant | Yes | Instant euro transfers |
| SWIFT | Yes | 35 currencies, unlimited virtual IBANs, global payouts |
| Cards | No | No card program |
| API | Yes | Programmatic access to payments and reporting |
| Bulk payouts | No | Not stated by the provider |
| Crypto or stablecoins | Yes | Stablecoins, outside the UK |
| Card acquiring as well | No | Accounts only, no player collection |
Onboarding
- Non-EU companies
- Not stated
- Time to open
- Not stated
- Licenses named
- Not stated
Pricing, on request
OpenPayd publishes no price list and no onboarding conditions, and it quotes fees and eligibility individually.
Named Clients and Reputation
Who vouches for the provider on the record, and what its own customers say
Named iGaming clients
None named on a first-party source. Every operator using this provider does so without a public reference.
Reputation
100% one-star, read Sep 1, 2026.
Not to be confused with: Openpay, the Australian buy-now-pay-later company that collapsed in 2023, and Openpay Mexico, a BBVA product, are unrelated.
Frequently Asked Questions
4 questions about OpenPayd
No. SettleGo Solutions Limited, trading as OpenPayd, is an electronic money institution that the FCA has authorized since May 2018 under reference 900483. In Malta, OpenPayd Financial Services Malta Limited has held an MFSA financial institution license since May 6, 2019, and OP Digital Services Limited became a MiCA crypto-asset service provider on June 23, 2026. OpenPayd Canada Inc. is registered with FINTRAC as a money services business.
Yes. OpenPayd's iGaming product allocates a virtual IBAN to every end user to top up, get paid instantly and move between fiat and crypto, on an account that runs in 35 currencies. That puts OpenPayd's IBANs in the operator's cashier as well as the back office, so the operator's transaction monitoring carries the flows those IBANs receive.
Scam victims who sent money to virtual IBANs issued by OpenPayd Financial Services Malta Limited took their losses to Malta's Arbiter for Financial Services, which has ruled on more than 80 such complaints. It upheld only one and ordered OpenPayd to pay GBP 23,300 plus interest on February 28, 2025, and the Court of Appeal annulled that award in full on February 25, 2026, because the complainant was not an eligible customer. In three of the cases it dismissed, the Arbiter sent the MFSA its findings on how OpenPayd credited the payments.
OpenPayd publishes no rate card or onboarding conditions and quotes fees and eligibility to each client individually.