Nevada Awards Online Poker Payment Processing Contract to Secure Trading, Inc.
Secure Trading, Inc. (STI) has won the approval of the Nevada Gaming Commission (NGC) in its licensing bid to provide back-office technology platform for payment processing, identity verification, and geolocation services for the state’s online poker offerings. The contract is for STI to serve as a one-stop shop for the licensed gambling operators, since such set-up will allow a smoother and faster process of implementing the online gambling expansion in Nevada.
NGC Chairman Peter C. Bernhard disclosed that they arrived at a decision to choose STI among other license applicants for the payment processing services, after comparing each company’s background and technical knowhow. STI’s impeccable record of activities includes the company’s resolve in developing a payment processing system that can address the areas of concern raised by those who opposed Internet gambling activities. Such concerns include compulsive or excessive gambling behaviors, minors engaged in gambling, association to organized crime as well as participation to money laundering and other fraudulent acts.
As early as 2009, UK-based STI collaborated with a topnotch UK accounting firm to develop and incorporate systems, measures and procedures in the company’s payment processing technology, in order to curtail each of the aforementioned gambling risks. One such example is the monitoring of gambling activities for every online player, as a means to detect unusual increases in casino spending. The development of the company’s payment processing system was with the foresight that the U.S. legalization laws over Internet gambling would be state specific; thus, the inclusion of technology that can identify a customer’s geographical location has long been an integral part of STI’s services.