New online gambling payment system announced

2007-01-17 16:04:59

A new payment technology aiming to make it easier for gamblers to transfer their money online is set to be launched following the signing of a contract agreement, it has been announced.

ActiveCore Technologies has revealed that it has signed a deal with the E-coin payment service to use its ePocket product, which it is claimed provides a safer, more secure, cost-effective and anonymous way of paying online.

The two companies attest to the expected doubling in worldwide gambling revenue to $20 million over the next five years as a key reason behind their agreement, with both firms looking to capitalise on a perceived gap in the market.

"The online gambling industry is a huge market with more than 2,300 internet gambling sites across the world. In Europe alone, there are more than 3.5 million online gamblers each betting more than $1,500 on average per year," said chief executive officer of ActiveCore Peter Hamilton.

"The elimination of identity theft and fraud results in a simpler, more cost effective payment for online transactions. We strongly believe that these key attributes will make it the payment method of choice for both the consumer and gambling merchant," added E-Coin founding director John Clarke.

Earlier this week the future of online payment service Neteller was thrown into doubt following the arrest of its founders in America.


© Adfero Ltd