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e-Processor Expands
 

The payment processing industry has seen some major changes in the past several years – from the withdrawal of Neteller from the U.S. online casinos industry to the expansion of Paysafecard in the European, there are new options for internet gamblers. Europe has increasingly liberalized its online casino gambling policies over the past few years, the UK in particular is welcoming new gambling opportunities. With the huge growth in the European online gambling industry comes a need for new payment systems for gamblers. Paysafecard is a viable alternative to using banks and established financial institutions for gambling and ecommerce transactions.

Paysafecard now plans to expand into even more of the online casino gambling market throughout Europe thanks to an e-money license from the British Financial Services Authority. The new license allows Paysafecard to effectively offer e-payment processing services across Europe and into new European countries that do not yet have a major processing provider.

Online casino gamblers are increasingly looking toward payment processing companies because of the safety factor – the CEO at Paysafecard, Michael Mueller, comments on the difference between the two is that “unlike the banks, [Playsafecard is] obliged to maintain 100 percent cash cover of deposits."

Paysafecard has rapidly grown over the past several years to become one of the top choices for gamblers involved in online casino gambling and e-commerce. The new license though will pave the way for even more growth. The online casinos industry is booming, and Mueller observes that “the e-money licence is an enormous step forward. We will optimise our value chain and gain greater autonomy in the market through the licence. Obtaining it is one of the biggest milestones in the eight-year history of our company.”