ICE: Payment processing issues stifling growth in New Jersey – Rebuck

ICE: Payment processing issues stifling growth in New Jersey – Rebuck

Tuesday, February 3, 2015 Totally Gaming

Payment processing issues are stifling the growth of online gaming in New Jersey and the US as a whole, according to David Rebuck, the director of the New Jersey Division of Gaming Enforcement.

Last month, New Jersey announced that it would introduce a new credit card code for the processing of all online gaming payments made in the US state after the US Office of the Comptroller of the Currency and the Department of Banking and Insurance identified a concerning number of failed payments for online gaming in New Jersey.

Speaking at ICE Totally Gaming this (Tuesday) afternoon, Rebuck acknowledged that the problem is partly due to a number of providers adopting a cautious ‘wait and see’ approach to online gaming in the state and the US as a whole.

“Geolocation hasn’t been an issue, but payment processing is a big problem,” Rebuck said at a World Regulatory Briefing session.

“We have tried everything with the Federal Department of the Treasury, and we have received very clear and concise advice from other in the industry.

“I think there is movement, but there is also a lot of tension surrounding online gaming in the US. Lots of people are taking a wait-and-see attitude generally before jumping in.”

Rebuck added that illegal websites remain a problem in every single US state, while New Jersey faces an ongoing challenge regarding public awareness and education.

“We still have people who do not understand that internet gaming is legal in the state of New Jersey,” he said.

Melissa Blau, director, iGaming Capital, added that the issue over payment providers is “bad, but not the worst thing in the world”, and highlighted the opportunity presented by alternative payment solutions.

“There are a lot available, but the promotions associated with them aren’t enticing enough,” she said.

“In many cases there has been an extreme conservatism that has held back the market.

“There are a combination of factors at play, but in order to keep the gaming public interested, operators also need to be smarter in the product offerings.”

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