Fulfilling on the vision to offer ease and convenience for both operators and players in the online gambling and gaming space, Secure Trading and First Data Corporation today announced a partnership that offers a new payment mechanism to process online gambling transactions in U.S. states where the activity has been legalized.
Secure Trading and First Data have worked together to design an easy-to-use, general purpose reloadable prepaid offering combining the powerful compliance tools of their ST-1 solution and First Data's PayLucky™ Solutions. They will deliver an offering compliant with New Jersey and Nevada regulations and enables players to deposit and withdraw money from their accounts with licensed online gambling operators.
Since launching PayLucky™ Solutions for the legalized online and offline gambling and gaming industry, this is the first virtual prepaid card agreement that will bring simplicity and ease to operators and players.
"As the market leader for prepaid in many industries we look forward to serving this new vertical and partnership with Secure Trading," said Jonathan O'Connor, general manager, Online Gambling and Alternative Markets, First Data. "Players with the general purpose reloadable PayLucky account will be able to use it to make instant deposits and withdrawals to and from their wagering accounts with licensed operators. Acceptance rates will improve significantly for internet gambling transactions, which in turn will enhance the gaming experience for authorized internet gambling operators and their merchants."
On completion of the ST-1 registration process that verifies new players' identification and location, or when existing players seek to make deposits into their wagering accounts, they will be offered a fully integrated process to set up a PayLucky prepaid account, providing players access to instant funding.
"We are confident that this prepaid card solution will be widely embraced by licensed internet gambling operators," said Kobus Paulsen, chief executive officer of Secure Trading Group. "We're excited to offer this additional prepaid payment mechanism together with a seamless solution for players to set up their prepaid accounts. As always, we stand ready to integrate our best-in-class experience and technologies, thereby ensuring licensed operators maintain regulatory compliance and employ effective financial processing controls."
Secure Trading is approved to provide internet gambling services in Nevada and New Jersey. Secure Trading is poised to offer payment processing, patron ID and geo-location services for internet gambling.