The firm told the Associated Press news agency that credit cards are being accepted from gamblers in the state between 42-46% of the time.
CAMS currently receives payments from the online operations of the Borgata Hotel Casino and Spa, as well as the Trump Taj Mahal Casino Resort and Trump Plaza Hotel and Casino, before routing them on to financial institutions.
Matt Katz, chief executive officer of CAMS, said the ongoing problem with credit card acceptance in the state is the “single biggest” issue that is “holding it back”.
Mary Jo Flaherty, deputy attorney general of the New Jersey Division of Gaming Enforcement, admitted that there is a problem with credit cards in the state.
She said MasterCard had approved 73% of attempted transaction in New Jersey since the regulation of online gambling last year, while Visa had approved 44%.
American Express and Discover have maintained their stance on not approving such charges.
Flaherty said the DGE “continues to work directly with financial institutions, banks and credit card companies and relevant regulators and authorities with respect to the legality of online gaming where authorised as in New Jersey, as well as regarding the appropriateness of payment processing for legalised online gaming”.
Alternative payments such as automated clearing house (ACH) and electronic payments services including Neteller and Skrill are helping avoid this problem, with Katz claiming 60% of those that have had their credit card denied succeeding funding their account via ACH transfer.
source : www.igamingbusiness.com
