Neteller Online Gambling Funds Processor Returns to the USA

Published Monday, March 03, 2014 -
Neteller Online Gambling Funds Processor Returns to the USA

The issues facing online gambling in the USA are numerous but the one that stands out the most is the processing of funds related to the activity. The Unlawful Internet Gambling Enforcement Act of 2006 clearly put the policing of online gambling in the hands of the banks and money processing operators. Those money processors that did not comply with the Act were targeted for prosecution and many firms that processed transactions after 2006 were indeed stopped by the Justice Department.

The recent news that Full Tilt Poker clients would receive refunds in the USA was welcomed by the thousands whose money was tied up since 2011. American poker players were going through a similar meltdown almost seven years ago when online money processor Neteller came clean and said the firm had "operated in the U.S. as an unlicensed money transmitting business" after the Unlawful Internet Gambling Enforcement Act made the company leave the US market. The processing firm returned $94 million to the customers that were using their services.

As reported by Gaming Intelligence mentioned that the parent company of Neteller, Optimal Payments Plc, will reintroduce the firm to the US online gambling market through a federally-insured financial institution sponsor. Optimal is engaged in money processing in two of the American states that offer legal internet wagering Nevada and New Jersey.

Joel Leonoff, President and CEO of Optimal commented, "The NETELLER service and the Net+ Card being launched in the U.S. are brand new services that have been developed to meet the unique needs of the U.S. marketplace," adding, "With our U.S. financial institution sponsor, we are leveraging NETELLER's flexible deposit and payment options and with our expertise, resources, and management are offering something truly unique in the U.S."

Executive vice president of business development  for Optimal Neil Erlick, added, "We are providing updated features, capabilities and security as well as quick access to funds through our Net+ Card. Together with our U.S. financial institution sponsor, Optimal Payments will continue to be a leading provider of integrated payments solutions.




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