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New Payment Solution

Mastercard and Visa have devised a new and legal way of providing services to online casino gamblers in an effort to abide by the law while continuing to make their services available to the gambling public. The context that led to this move: Internet gambling in the USA is not necessarily unlawful, but the electronic fund processing sparks the real controversy and federal liability. The illegal status of transferring money related to internet gambling has hampered several banks from continuing their processing services to customers of online casinos. Mastercard and Visa in particular, under the direction of the Department of Justice, discontinued its processing services in the summer of 2010.

During the period that Mastercard was forced to halt the company’s services between US gamblers and the online casinos, Mastercard inevitably lost a plethora of commissions. However, by teaming up with InterCash, Mastercard has finally found a viable solution by offering a new credit card service to the gambling public. According to Patrick Seguev, InterCash’s chief executive officer, the joint venture is a positive move forward into becoming an industry standard, which is evident in the steps of several software providers and operators; these have already integrated into their software package the said safe and smart payment solution. As such, online casino players are now offered with a much easier way of handling their funds.

The prepaid card operates and works similarly with other prepaid options, but it has an additional feature that allows online casino players to withdraw their funds to their Mastercard. One of the new product’s widely practical effects is that players no longer have to use wire transfers or endure waiting for a check. Furthermore, through their personal bank accounts players will just have to load up their card and immediately play.