A blog by Adam Doyle, Global Gaming Sales Manager at GBG.
In today’s ever changing and always challenging regulatory landscape there are few markets that cause as much debate as China.
Clearly the chance to trade with 1.4bn citizens is hugely attractive but falling foul of the Chinese authorities, either now or in the future, is something that might temper that appetite.
Within China the message is stark, as the arrests of a number of citizens for gambling related crimes would attest to. However when you have no business interest within the country there seems to be no implicit obstruction to taking players. Indeed some of the world’s largest brands have paid good money to legal firms to confirm this uncertainty.
Other regulators’ message to licence holders is simple - seek legal advice and make sure you are comfortable standing behind it! Often that legal advice comes back as ‘there is no law implicitly banning taking customers as long as you are outside of China and have no interests inside the country’, at which point the choice boils down to keep clear or engage. It your choice is the later then it is understandable that you might then seek to keep out of the limelight so as not to attract, unnecessarily, the attention of the authorities. The Chinese may or may not have a phrase for ‘Bad Actor’ but if they do we are certain it is to be avoided at all costs.
What is clear in China is that how you engage with your customer is different, nuanced and requires us to cast aside the rules of engagement as we know them.
You can’t take a ‘western’ approach and expect to do business. In China, more than any other market, the emphasis is on trust. As we know, trust can be complicated, take time to build and can be lost in a moment.
In a market where consumers’ typical starting point is to provide a false or easily disposable email address or phone number you have to be in it for the long haul. It is this that makes the Chinese verification process business critical as we aim to ensure as reliable verification as possible with the minimum of interaction
At GBG we think we can help with this critical interaction, helping enable an environment of trust and a longer term relationship.
The data sources available in China are strong, accurate and customer friendly. They embrace the entirety of the Chinese population, are compliant with global best practice for AML and have some of the highest match rates of any country we support. Add in the ability to verify Chinese documents inside of 5 seconds and layer in our soon to be launched bank account verification, and this should allow you to ensure trust and to protect you and your customer both now and in the future.
So when looking at China, either now or in the future, then make sure you do it the Chinese way.
To learn more about how we support identity verification, get in touch with Adam Doyle: Adam.Doyle@gbgplc.com / 07720 353 392