VISA on How Online Casinos Can Avoid Credit Card Gambling Payment Blocking
Since the implementation of the Unlawful Internet Gambling Enforcement Act (UIGEA), credit card as a deposit payment method for online casino accounts became the least favored option if it involves a U.S. card-issuing bank.
Generally, online gambling payments of U.S. credit card users are automatically blocked and therefore declined for legal reasons. Yet, there are top of the line Internet casinos that accept U.S.-based credit cards as deposit payment options and are able to process transactions without a hitch.
Internet gambling in the U.S. is now legal in Nevada, New Jersey and Delaware, to which interstate gaming pacts are likely possibilities. U.S. online players will no doubt consider credit cards as the most convenient deposit payment method. In line with this, VISA, which is the technology provider behind the credit card issued by major U.S. banking institutions, reminds issuers and processors that VISA’s “Internet Gambling Stand-In Processing (STIP) Blocking Service” does not treat all gambling payments equally.
VISA’s gambling payment blocking system can distinguish between legal and illegal online gambling payments, as it works in conjunction with VISA’s Merchant Verification Value Registration Program (MVV). The MVV program requires online casinos that wish to offer VISA credit cards as one of their deposit payment options, to submit proof that the Internet gaming site operates legally. Such proof includes:
- Legal certification of compliance with all applicable federal laws, as well as those imposed by the respective state; and
- Independent third-party certification that the online casino has adequate systems and controls in place to ensure that online gambling operations will stay within the lawful limits;
However, aside from submitting these requirements, an online gambling operator must also pay $5,000 as registration fee.