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Credit Card Applications » News » Other » Internet wagering easier as MasterCard teams up with Inter Cash

Internet wagering easier as MasterCard teams up with Inter Cash

September 20, 2010 | Updated on September 20, 2010
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The content is accurate at the time of publication and is subject to change.
This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the Citi.

Online gambling has been a popular pursuit among many countries and its citizens for many years. It isn`t illegal to gamble online in the United States although the transfer of funds electronically after the gaming is scrutinized by officials. This makes it difficult for many people and often a cause of concern for the online gambling companies and the people who use it.

Transferring money for gambling online has been made illegal in the USA and thus a lot of the policing happens by banks and other financial institutions. This is a rather sensitive concern especially when dealing with consumers who are respected and trusted by the bank and have the money to spend on these interests.

Online gambling customers are finding things rather inconvenient following the directions from the department of justice in the States to discontinue processing services. The fact that both Visa and Master card are following this guideline is not making things any better.

This has resulted in losses numbering millions for MasterCard because of commissions which were not made because wagering is not something they are allowed to process according to the rules in place.

There are however attempts being made to provide prepaid cards by signing up with Inter cash to provide a credit card facility to online gamblers that is secure and will help deal with the losses.

This prepaid card works like any other prepaid card but also gives an added bonus by which the funds can be withdrawn to MasterCard. This means no more waiting for wire transfers or cheques to come through. Players get to add on to the card with their personal bank account and play as much as they want to. They can transfer funds onto the prepaid card and then use it at any retail outlet which accepts prepaid Master card.

Casinos which are backed by Playtech software have an added advantage in using the Inter Cash card as there is no additional setup needed for players to begin gambling as it is a reliable and easy to use option in payments. This new venture marks many conveniences for online gamblers and for the casinos. The credit card companies are also able to recover from the laws passed and the implications of it. Safe, smart payments are the aim of the software package and the tie up with Intercash and master card which is good news indeed!

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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