In the last month, two huge names in payment processing have revealed that they are to start accepting bitcoin currency as a payment method. Neteller and CardinalCommerce have both come out and said that they will support the cryptocurrency, which could be a significant move for bitcoin users, as it will enable them to access a variety of big-name merchants and service providers through the payment platforms.
Neteller is one of the most recognized online payment systems, akin to Paypal, and the company has formed a partnership with Bitpay to facilitate their bitcoin integration. Neteller has added bitcoin as a deposit option to the e-money wallet, and has enabled the use of its debit card as a bitcoin debit card, although this is subject to certain limits. Neteller is a common and accepted method of depositing to online casinos, sportsbooks and poker sites, and the acceptance of bitcoin currency gives online bettors the chance to indirectly use their bitcoin funds to top up accounts with gaming operators that otherwise might not accept bitcoins.
CardinalCommerce is an online payments provider for some of the largest brand names in the world, such as GameStop, American Eagle Outfitters, and Delta Air Lines. They announced a partnership with bitcoin payment processor Bitnet this month.
Speaking about the agreement, CardinalCommerce SVP of Merchant Services, Alasdair Rambaud, said, “[Bitnet’s] many combined years of payment industry experience makes them the best choice for Cardinal and our merchants who want to offer bitcoin as an alternative way for their Customers to buy.” He went on to say that bitcoin is a “win-win for merchants and customers around the globe.”
What does it mean for bitcoin gambling?
As bitcoin currency develops, more and more merchants, companies and institutions are beginning to accept the digital currency as a legitimate method of payment. Currently very few regulated igaming operators accept bitcoin payments, which means that gamblers are left with the option to use exclusive bitcoin sites only, or deal in traditional currencies with traditional gambling sites. As more merchants and payment processors accept the currency, so confidence grows, and it could be a small step to a time when bitcoin can be used directly with all of the mainstream gambling sites.