PayPal Financial Services Comes Back To Online Betting

Published Monday, August 02, 2010 -

The growth of online gambling in the world and the laws that restrict banks from accepting transactions from internet gambling activities has created a new and necessary need for alternative payment processing services. Mastercard and Visa services have been discontinued in some jurisdictions and they were the trusted and well respected payment processors for many online gambling customers.
PayPal took a big hit and pulled away from the market in the USA when the government there decided to ban online gambling payment processors and prosecute those who continued to transfer and transact gambling funds.
PayPal is slowly but surely re-entering the gambling world by teaming up Ladbrokes and Virgin Casino to offer payment services to sports bettors and casino attendees once again in the U.K.  The PayPal service allows anyone to pay in in many ways including credit cards, bank accounts, buyer credit or account balances, without sharing financial information. Founded in 1998, PayPal has become a global leader in online payment solutions with more than 153 million accounts worldwide. It is available in 190 markets and 24 currencies enabling global ecommerce by making payments possible across different locations, currencies, and languages.
PayPal has received more than 20 awards for excellence from the internet industry and the business community -most recently the 2006 Webby Award for Best Financial Services Site and the 2006 Webby People's Voice Award for Best Financial Services Site.
The variable habits of gamblers around the globe has allowed Paypal to customize payment solutions for each demographic and region. Financial privacy is a paramount goal for the company and it's customers. PayPal was acquired by eBay in 2002 and is headquartered in San Jose, California USA.
PayPal last year reported annual revenue of over $2.1 billion making it one of the most used payment processing firms in the world today. It has been suggested that the recently merged Bwin PartyGaming online gambling company will also be using the PayPal service.







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