A week ago we had a post about how Mastercard is really clamping down on online casinos using its services in a bid to respect US online gaming laws. Well, just as Mastercard began blocking transactions at these sights, it was divulged that some former top officials from Mastercard had formed a new financial processor in order to handle online casino deposits. The new company is called Secure Trading and is preparing to operate in the US as soon as legislation allows.
Mastercard seemed to finally and successfully stop payments to online gambling sites when they introduced a new system that blocked all online casino payments connected to Mastercard, along with legitimate gambling charges like state lotteries and domestic horse racing.
UK payment processor, UC Group, owns Secure Trading and has former Mastercard executives in its head of customer relations, chief operating officer and chairman positions. The chairman of Secure Trading, Chris Thorn, worked for Mastercard for 11 years.
Secure Trading has no intentions of operating in the US during the current legal situation but the company is expecting internet gaming to become regulated this year and their system will be primed and ready to allow their customers to go live as soon as it does.
