Digital Money World

US Online Gamblers Still Playing, ‘Work Around Number’ Two For February

by Mark on February 28th, 2007

Lesser known online payment options for US players are now becoming popular. How long will it last? No one knows, but here is the second US method I have seen this month. The first ‘work around’ was also a prepaid card.

The newly popular option for US players is the PayTru prepaid Visa® card. This gaming deposit method is NOT an e-wallet, it is a prepaid Visa® card. It does not appear to be the kind of massive billion dollar operation like the ones singled out by the anti-gambling folks. Besides the Visa® logo, there does not seem to be any direct connection to US banking. Does the Island of Antigua ring a bell for payment processing?

PayTru handles the issuance of Visa® branded prepaid debit cards to consumers worldwide. The PayTru prepaid Visa® card is good at merchants anywhere in the world which display the Visa® or PLUS® logo. Additionally, the PayTru prepaid Visa® Cards work at almost one million ATMs worldwide.

PayTru, the debit card company, operates its proprietary debit card-based electronic transaction processing system (www.paytrucard.com) using the Internet for sales and marketing.

IQ-Ludorum PLC seems to steer the ship. They acquired a 33% minority interest in PayTru Card Services Ltd (’PayTru’) in May of 2006. IQ-L integrates the underwriting and issuance of the prepaid debit cards in real time directly from gaming web site. Its really a smooth integrated operation.

PayTru is co-owned by Gateway Payment Solutions AG Deutsche Bank and Global Bank of Commerce who sponsors and guarantee the PayTru transactions with VISA and MasterCard.

About the operation:

IQ-L’s current compliance procedures exceed the anti money laundering regulations imposed on domestic banks in the US and all payment products subscribe to the ‘Payment Card Industry Data Security Standard’. All transactions are coded in strict accordance with VISA and MasterCard international guidelines. IQ-L has consulted with the Antiguan government on what additional controls they would like to see in place and is currently working closely with authorities with the intent to maintain their e-commerce transactions at the fore front of international compliance. IQ-L performs extensive due diligence on all of its customers and will only deal with companies that are fully licensed in the jurisdiction that they operate.

If you happen to try this method, please let us know your experience.

Share This

Related Stories

• Online Gambling Payment Processing - Who’s Left?
• February Is Digital Currency Scam Month !
• Firepay: No More Online Gambling Payments From Canada
• US Online Players Find An Easy New Way To Play
• working online - dollar payments.

POSTED IN: Debit Cards Withdrawals, International, Online Currency, Online Prepaid Cards