Ex- MasterCard executives gear up with online casino transactor
February 11, 2010, 10:47 am (7 years ago)
Right after MasterCard started to reject transactions to online gambling sites, a number of former top executives from the company have organized a latest financial transaction processor to manage online casino transactions. The latest firm, Secure Trading, is going to be getting ready to conduct business in the US once federal legislation controlling Internet gambling is done.
Secure Trading is operating under the UK payment processor UC Group, and has ex- MasterCard executives as its director of customer relations, chief operating officer, and chairman. Chris Thorn, the chairman, used to be chief risk officer at MasterCard throughout an 11-year stay at the credit card company.
MasterCard had attempted since the route of the UIGEA to code transactions in order to reject payments to online gambling websites, but gaming operators swiftly found out how to set their charges as un-coded. However, last week, MasterCard released a latest structure which is rejecting all online casino transactions, together with valid gambling charges, including state lotteries and domestic horse racing,.