The group’s CEO, Anne-Marie Caufield lauded the potential impact of a voluntary block feature on gambling transactions introduced by AIB and EBS, two of the biggest banks in the Republic of Ireland.
It’s a step that comes off the back of research from Ireland’s Economic and Social Research Institute (ESRI), which detailed that the average spend by people experiencing gambling harm is €1,000.
Caufield stated: “We welcome the introduction by AIB and EBS of a voluntary block feature on debit and credit card transactions which are classified as linked to gambling. Revolut also gives customers the ability to implement a gambling block on their account.
“We are engaging with the Banking Payments Federation of Ireland (BPFI) and directly with pillar banks to encourage other financial institutions to intro..