Nevada Awards Online Poker Payment Processing Contract to Secure Trading, Inc.
As more and more operators get approved for licenses in the state of Nevada, this means that there will be a need for support companies and that includes security and payment processing. That's why Secure Trading went ahead and applied and was recently approved for an online gaming support technology contract in Nevada from the Gaming Commission. UK based Secure Trading Inc. has for several years been in the online gaming sector and has proved to the Nevada Gaming Commission that they can handle all the requirements needed for protecting players and providing back-office technology.
Some of the areas they have expertise in, include payment processing, identity verification and critical geolocation services required to make sure bets are being place inside the legal states. One of the leading deciding factors in the NGC decision was the fact that STI provides a complete one-stop shop for licensed gaming operators in the state so that they can get everything they need from one company. This way the set up and integration will be seamless and the gaming operator can be confident that everything will be in place and with a proven product. With things like payment processing, identities and security, the NGC was obviously going to go with a company that has iron tight technology and a solid background.
There are many concerns with payments and fraud, not to mention money laundering, excessive and compulsive gambling, minors trying to gamble online and multitude of security reasons. STI has since 2009 been working with and collaborated with leading UK accounting firms to create rock solid systems that would develop industry standard measures and procedures all within the companies payment processing technology. One great feature of the payment processing technology is that it detects the gaming behavior of gamblers, not just a few, but all players that come in to a gaming operation can be monitored. If a player begins to have an unusual increase in gaming behavior the technology would detect that and a certain action would take place like notifying the operator and they can shut down his or her account.
Consumer protection and financial integrity are the two main issues when deciding which company to go with and STI seemed to come to the table with the best all in one product and the years of experience to go with it. They have also done their homework over the last few years for the North American market in anticipation that the market would open up as it has over the last couple of years. Chris Thom, Chairman of SecureTrading Inc., assured the NGC and convinced them that the company's readiness to integrate with gambling operators in the U.S. sets them apart from their competitors. "We began developing our tailored payments, ID verification and geolocation solution for the U.S. market a few years back in anticipation of a regulated Internet gambling marketplace," said Thom. "We're prepared to serve as a seamless, one-stop shop for licensed gambling operators, allowing our partners to focus more exclusively on their core business."
The NGC also did their homework during the selection process and decided that STI's background, proven technology and list of major clients (many of them publically traded companies and major players) in the European online gaming industry set them apart. Mr. Peter C. Bernhard, Chairman of the Nevada Gaming Commission, spoke to the qualifications of Chris Thom and Secure Trading Inc. "In looking at this application, and we looked at a couple of others as well, my feeling was that you are precisely the type of person with the type of background and knowledge that will be a supplement to our existing staff and our existing licensees that are on the operating level that we hope to attract in the state of Nevada," stated Bernhard.
At this point it good to see that many of the European gaming related companies who have been in the online gaming industry and have earned their stripes on one side of the pond are now seeing the fruits of their labor on the other side. STI is licensed in 29 countries and has been in business since 1997 making one of the largest payment service providers in the UK. Over the last year the online gaming industry and it's suppliers are now finally preparing to make their way over to the US and bring all the years of experience and highly proven products growing the gaming industry in the US and showing everyone that online gaming can really work in this new evolving marketplace.