|
|
|
 |
Former Mastercard Execs Prepare Online Casino Transactor
LONDON, ENGLAND --
Just as Mastercard begins blocking transactions to online gambling sites, several former top officials from the company have formed a new financial transaction processor to handle online casino deposits. The new company, Secure Trading, will be preparing to operate in the US as soon as federal legislation regulating Internet gambling is complete.
Secure Trading is owned by UK payment processor UC Group, and features former Mastercard executives as its head of customer relations, chief operating officer, and chairman. Chris Thorn, the chairman, was chief risk officer at Mastercard during an 11-year stay at the credit card company.
Mastercard had tried since the passage of the UIGEA to code transactions so as to block payments to online gambling sites, but gaming operators quickly figured how to list their charges as uncoded. But last week, Mastercard introduced a new system which is blocking all online casino payments, along with legitimate gambling charges, such as state lotteries and domestic horse racing,.
While Secure Trading will not risk Justice Department wrath by operating in the current US legal quagmire, the company expects Barney Frank's plan to regulate Internet gaming to come to fruition this year.
“Momentum for regulating Internet gambling in the U.S. has been building for some time,” Thom said in statement. “As Congress prepares to take the final step, Secure Trading’s turnkey system is primed to enable our customers to go live the moment Internet gambling is regulated.”
Previous USA Casino News Articles
Post A Comment
|
 |
|
|
|
