PayPal Offers Payment Method for UK Online Gamblers

Released: October 7, 2009

A few years ago, PayPal was stopped from providing its payment processing services to the online gambling industry in the US by its parent company, eBay and it appeared that they were moving away from online gambling altogether.

PayPal, however, recently signed a deal with Neovia Financial, a very popular merchant in the online gambling industry, in terms of which PayPal will become their payment service provider. It would thus appear that PayPal is once again returning to the online gambling market.

PayPal will only process payments in jurisdictions where Internet gambling is regulated but seems to be preparing itself for a repeal of the UIGEA in the US.

The United States government has seized many bank accounts recently relating to online gambling payments and payment processers are thus reluctant to accept any online gambling transactions in the US.

Many UK online bingo sites have also adopted PayPal as a payment method as PayPal provides them with safe transactions without having to release credit card or bank account numbers. It is known to employ the most secure systems to ensure the safety of players’ transactions.