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Legal Online Gambling Fueling New Digital Payments Firm

Online gambling is big and growing, with Nevada, Delaware and New Jersey all now legally allowing online gambling. But there exist significant sensitivities surrounding processing payments for an activity that is still illegal in the vast majority of states, similar to the payment challenges of the few U.S. states that permit legal marijuana sales. Most payment cards refuse to process gambling payments, opening an opportunity for digital payments.

“Skrill is the biggest brand in the gambling market for digital wallets, with the payment method holding transmissions licenses in all of the U.S.” notes Online Casino Reports. ” Notably, Skrill also has approval with the New Jersey Division of Gaming Enforcement (DGE) for processing online gambling payments within the state.”

New Jersey’s move’s “rationale was to provide New Jersey residents with a reliable payment method that would be accepted by online gambling operators in the state. Phase two is much wider, entailing the customization of the brand’s pitch for U.S. customers. This phase will be much more challenging as it will bring Skrill into direct competition with PayPal.”

With the third state now supporting online gambling, the publication reports, PayPal has now started talking with state officials about supporting such transactions.

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New PYMNTS Study: Subscription Commerce Conversion Index – July 2020 

Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. While that’s a great opportunity for providers, it also presents a challenge — 27.4 million consumers are looking to cancel their subscriptions because of friction and cost concerns. In the latest Subscription Commerce Conversion Index, PYMNTS reveals the five key features that can help companies keep subscribers loyal despite today’s challenging economic times.

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