Breaking - Major Payment Processing Issues

[Jeremy]

Hey guys, it was brought to my attention today by a very reputable source that we may be in for some major payment processing issues in the coming days for our U.S. based customers. I'll try to be as specific as possible.

I am not involved in payment processing myself so I don't necessarily understand all the lingo, but from what I was told, all the payment processors are scrambling right now.

This involves all Visa and Mastercards held by U.S. customers. If what I have been told is correct, they are all being shut off to online gaming. I realize there are ways to get around coding, etc. Apparently the processors have been worried about this for scenario for a while and yesterday it finally hit. Right now only people inside of the payment processing world are aware of this.

If this is true, it is the end of CC payment processing in the U.S. It apparently is the start of enforcing the new laws pre-legislation. I was also told that banks are holding funds everywhere and starting to charge exorbitant fines to the processors to get their money out.

Allegedly, Mastercard has been monitoring thousands of transactions and has been able to identify customers in which they believe are being rerouted to un-coded processors.

Then they got all the various processors who do what is called "cascading" in the processing industry. In other words, the processors always try to send transactions through normally first, and if it doesn't go through, they bounce them through un-coded.

Bottom line from my understanding though is that the CC companies finally figured out how gambling transactions were getting through and have started identifying all these processors, holding money, and stopping the transactions.

There is more technical stuff that I was told, which quite frankly I don't understand all of it. But my understanding is that the manual tracing and cascading is what brought it all to light to the CC companies.

As I mentioned in the beginning, the source that gave me this info is very reliable and I have no reason to doubt him as they have been doing payment processing for 5+ years. If true, buckle up, it should be fun.

[Graham]

So what are the best available alternatives then?

[Brandon]

All wallets will be best. Usemywallet and ewalletxpresss would be my first choice.

This is bad news but not the end of the world. This industry always finds a way.

[Jeremy]

Yea it's definitely not the end of the world, it will just kill deposits for a few months with your U.S. CC depositing players if this is genuinely transpiring.

[Lenny]

The sky has fell many times before. Most cc never worked anyway.

[Greg]

It's game on for guys like FTP, Stars, Cake and Merge rooms. Is it any coincedence this happens before Super Bowl weekend?

[Hazo]

Can someone please explain this a little. Anyone know what kind of effect it will have?

I have a Craps site with 95% US traffic - should I be worried?

[alexpratt]

I have a friend with a us facing casino and he said the same thing to me, a number of his big processors have had their funds frozen so in affect can't process payments now. He was stressing a lot yesterday, but he still had hope it was temporary, and that he would find more processors


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[addaminsane]

PS for Paypal!

[Brandon]

Can someone please explain this a little. Anyone know what kind of effect it will have?

I have a Craps site with 95% US traffic - should I be worried?

It's definitely not the best thing in the world. I would use a call to action that teaches fast and easy ways create accounts on ewalletxpresss and other wallets.

Anyone with wallet related traffic would be pretty happy about this. "sportsbook ewalletxpresss" type terms are huge right now. Make sure to offer every option for your slots site.