UIGE - payment processors respond
| Payment processors on the whole have adopted a wait and see attitude towards the new US legislation. |
| FireOne said it was evaluating the situation and would update shareholders when appropriate. However, it said the act did “not define “unlawful internet gambling†nor does it make it unlawful “any activities by financial institutions that are not themselves gambling businessesâ€. But it expected the enactment of the act to have a significant negative impact on its business and results.
Neteller also said it was considering the impact of the act and would evaluate the situation as it develops and “that the Act may have a material adverse effect on Neteller’s US-facing businessâ€. However, it added that once the US Federal Reserve and Attorney General had issued regulations “requiring each payment system and all participants therein to identify and block or otherwise prevent or prohibit restricted transactionsâ€, it would “have a clearer view of which companies are affected, how those companies will be expected to comply and any possible resulting impact on the companyâ€. Neteller said it focus on developing its “business in line with its stated strategic objectives includig geographical product diversificationâ€. IQ-Ludorum said it would review “its business activities and any impact on the from the proposed changesâ€. The company said it was too early to assess full impact of the legislation but expected it to “have an adverse effect on the group’s provision of gaming software and gaming-specific servicesâ€. IQ-Ludorum added that its flexible business should enable it to adapt to changing circumstances and that it had been working towards diversifying its portfolio. It said it would continue to monitor developments closely. |
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