MasterCard to stop 3rd party transactions

[AR182]

I read this in today's edition of USA Today & thought that most will find this interesting. There is an article about M\C ,having a new rule that could hinder online commerce by stopping merchants from taking credit card payments via 3rd parties,such as PayPal.On May 1,unless new terms are reached,Internet merchants that rely on 3rd party billing could take major losses on sales.
The article states that PayPal is the biggest 3rd party service,with about 13 million registered users.It does 240,000 transactions a day worth about $13 million----about half of which is done via credit cards.
M\C says,The reason for the change is to protect financial institutions,& cardholders from fraud & identity theft.But analyists believe the change is aimed at porn & gaming sites that have higher occurrences of theft.
A PayPal spokesman states he is hopeful that it's company will come to new terms with M\C.Visa & American Express still will accept PayPal.

Could this be the first step in banning on-line gaming ?

 

[Magic_01]

I sure hope not... I don't know what I would do without gambling every day. It has become a huge part of my life.

 

[kcwolf]

Since all but one local has shut me down, this old guy had to go off shore. Paypal is the way to go for me.

I cringe when I read guys using credit cards. :nono:

I have a Paypal acount, transfer cash to and from checking account within seconds. Way cool!

Have two awesome books, btw. Both sponsors at Madjacks. Going off-shore was a big step for me, not knowing about the "little" things that were big at the time for me.

Need to thank IE! Thanks my friend!

Need to also thank TomOc and Ben, thanks guys!

 

[Red Raider]

I agree Wolf! I have a Paypal debit card, and can go to any ATM and get cash out almost instantly.

Yes there are a lot of horror stories about Paypal, but 99% of them deal with online auctions, not gambling.

As far as Mastercard goes, avoid them at all costs, I'm still fighting to get a withdrawal I made last December, because between the time I depostied and withdrew they change their policy....grrrr

Link Paypal to a checking account, not you everyday one, but one used only for gaming money. Transfer money in and out of that account as needed.

BTW: way to kill the locals Wolf!!!!