Visa, MasterCard suspend credit card casino transactions
Visa and MasterCard have both suspended the use of credit card transactions that fund online gambling accounts. The move comes in advance of the Unlawful Internet Gambling Enforcement Act that will require credit card issuers and processors to suspend the accounts of merchants and customers involved in online gambling. The Act is set to become law in June.
Many lawmakers have voiced concerns over the new rules since the law will prevent state lottery and casino boards from authorizing legal online gambling programs.
Veteran online gamblers have already begun to create alternative methods to fund online gambling accounts including retail cashiers and third-party processors.
