E-Wallet boost for UK gamblers

2006-12-05 16:08:10

UK gamblers conscious of potential problems with online payments have been boosted by the announcement that a new e-wallet technology has been approved for European promotion.

Canadian group ESI Entertainment Systems has revealed that its subsidiary Citadel has received approval from the UK's Financial Services Authority (FSA) for its myCitadel online payment system to operative within the UK.

The e-wallet offers users the chance to pay for their online purchases and gambling fees using a variety of currencies via a secure third-party account, creating a barrier between payment and users' bank accounts.

"This authorisation allows the company to easily establish new banking relationships, operate in a protected and highly regulated financial services environment and execute its growth strategy in the European market," said Citadel executive director Michael Meeks.

Some e-wallet companies have continued to accept payments from gamblers in the US despite the recent prohibitive legislation, with operators insisting that the Gambling Act does not specifically prevent them from providing their service to American users.


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