Leading Online Casino Payment Processor to Stay in US
Many online casino sites do not deal directly with US customers, but instead work through online intermediaries which transfer money from bank accounts to online businesses for a fee. A third party receives the money that players wish to deposit in their online casino account and the intermediary deals with the gambling site. The recent crackdown has affected a few of these third party payment processors who have announced they will not take anymore US bets at the online casinos, while others are holding on to the rocky gambling boat despite suffering close to fatal blows.
FireOne, a provider of payment processing services for the online casino industry has announced that it is giving up on US gambling, once President George Bush signs it in to law. On the other hand, NETeller, probably the most popular payment processor in the business, has confirmed that it is to stay with the US online casinos, despite the recent passage of antigambling legislation.
With over 3 million customers in 160 countries, 3,500 merchants, and over $7 billion in annual transactions, the NETeller Group operates the largest independent online money transfer business in the world and as a leading payment processor for the online casino industry, all eyes are on them, as they may look to send its US customers a message of rock solid stability and reliability, showing all that last Monday’s 60% drop on the London Stock Exchange listings will not send them running for their lives, or at least will not convince them to move to Europe for good.