New Credit Card Code for Online Gambling in New Jersey Should Reduce Decline Rate
A new credit card code is set to be introduced for online gambling in New Jersey come Springtime, thus helping to reduce decline rates.
Reports suggest that the approval rate for Visa cards has been around 73% on average for Visa with a dismal 44% for Mastercard. American Express does not allow transactions for online gambling at this time.
While online gambling is legal in New Jersey, many credit card issuing banks, including Wells Fargo, have refused to allow transactions for Web gambling due to federal legislation.
Currently customers have the option of funding directly from their bank accounts, however, a social security number is often required. Likewise, payments can be made at local 7-Eleven convenience stores in some cases. Alternative payment solutions such as Skrill are also available though not widely used by New Jersey residents.
A New Jersey’s Division of Gaming (DGE) said further improvements are expected”.
- Aaron Goldstein, Gambling911.com
