New Payment Processing Option for iGaming Revealed for US
In the United States, online gambling is still a relatively new concept. A handful of states have legalized online casino and poker gaming as well as sports betting and the lottery. Each of these industries must have payment processing options so that players can deposit funds into a real money account for wagering and then take out funds when ready to withdraw. So far, options for financial transactions have been limited in the US. Thankfully, a new option was recently revealed during the ICE North America conference.
The Mazooma company is a leading payment processor in the United States when it comes to online gambling needs. The company recently attended the ICE North America conference and introduced a new payment method that can be used for online gaming. The new option is titled Mazooma Gateway and it will provide operators of online gaming and sports betting with two options to accept payment; eCheck Select and OBT.
A press release on the new payment method stated that the new option will allow merchants to broaden their customer base and add volume. The solution will be offered to net new operators and merchants that already provide the eCheck Select or OBT option at their site or within an application.
The company has yet to say which online casinos in the US as well as sportsbooks will be using the Gateway product. They are currently working with several operators in the nation and it could be assumed that their current partners would use the product in the US.
Such partners of the company include The Stars Group, Virgin Casino, 888 Holdings, MGM Resorts, Mohegan Sun, Caesars, Borgata, GVC, Pala Interactive, Betfair, Golden Nugget, Tropicana Interactive, Scientific Games and more.
Payment Processing Issues
When the online gambling industry first began in the US back in 2013, payment processing issues were rampant. Many credit and debit card companies were unsure if they wanted to clear transactions in the US when connected to online gambling activity. Many of the first operators were subject to financial transaction issues when credit card companies and financial institutions refused to clear payments.
Over time, the processors eased up, but it can still be difficult for players to find options for deposit and withdrawal that meet their individual needs. With Mazooma Gateway, a new option only gives players more of a choice when it comes to funding an account. The option would be considered an alternative payment method and one that players will most likely be open to.
The new payment processing method was just revealed during the ICE North America conference so it may still be some time before we see a rollout. It should be expected in the coming weeks to learn more about this payment method plus finding out which online operators in the US will be utilizing the option. It would not be surprising to find the companies on the Mazooma client list using the method via their online gaming sites in such states as New Jersey, Nevada and Delaware.