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Payments Processors Refusing NJ Igaming Deposits

Many transactions are not being approved on the online site.

New Jersey’s online gambling industry has been increasing in popularity since it opened last year. However, many gamers are upset with the fact that they are having trouble depositing funds on the various sites, according to Online Poker.

“As a player, it is worrisome that people aren’t able to get money on the site. To have people who want to play and deposit not be able to is terrible,” NJ player Matt Pineault told Online Poker. “Depositors are the lifeblood of the poker site, and without them they obviously can’t survive.”

Gaming Enforcement Deputy Attorney General Mary Jo Flaherty told Online Poker that 73 percent of attempted transactions by MasterCard are successful, and with VISA just 44 percent of transactions are approved. However, American Express and Discover are the two credit card companies that will not approve any transactions on the site.

“American Express does not do business with high-risk industries and we prohibit the use of the card for any gambling services,” American Express spokesman William Tsang told Online Poker.

The issue is becoming such a problem, that the Central Account Management System's CEO Matt Katz concluded that restrictive credit card practices remains “the single biggest thing that’s holding [the industry] back” in New Jersey.

"What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.

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