Online Gambling Fund Processing Improved

Published Thursday, February 19, 2015 -
Online Gambling Fund Processing Improved

The processing of funds used for online gambling has been a difficult subject for banks and money services companies since the introduction of internet betting. America in 2006 stopped money processors and banks from doing business with anything related to online gambling effectively crippling the industry there. The Department of Justice in America went after the companies that got around the laws that banned fund transfers and prosecuted them successfully.

For many years the major financial institutions and service companies refused to allow transactions with online gambling operators even though the US has legalized online betting in Delaware, Nevada and New Jersey. Similar difficulties were experienced in Europe with some jurisdictions there banning financial institutions from offering fund processing for gambling activities.  

Now some firms are making inroads in Europe’s financial transaction industry and could open up new avenues for gamblers in various places. E-comm Payment Solutions an electronic payments consulting firm with years of experience with electronic payments has been granted ‘principal member’ status by Visa’s European board of directors. The service provides delivers safe, secure transaction processing customized to the needs of the client. ECommPay along with a number of other payment solution providers enables merchants to make and accept payments via Visa, Mastercard and China Union Pay bankcards. ECommPay with the newly granted status will be able to put the processing of client applications on the fast track connecting  merchants directly to Visa.

Dmitry Sinkovich, CEO of ECommPay, commented, “To become a Visa principal member is an important step in the development of any financial provider.” Sinkovich, added, “ECommPay’s new status allows us to expand and strengthen our position in international markets. Being recognised for our high level of service by a multidisciplinary audit conducted by Visa International confirms that our company meets all safety and operations requirements.” Continuing Sinkovich said, “Visa principal membership is a guarantee not only of the quality, but also of the transparency and professionalism of ECommPay’s services.”


Related news

Return to Latest News