Have anyone else seen this ? I have a netspend Visa never had a Master card but I am locking my doors and anyone knocks I am NOT answering!!!!
Mastercard/Visa -- huge seizure
Little birdy told me this morning that Mastercard and Visa have done a huge seizure industry wide. Apparently this is pretty wide-sweeping and directly affects operator accounts for the month of January.
Response from player:Yep, I got this yesterday...what type of "seizure" Max, card seizure, money seizure, etc.?
My understanding was that it may have involved operator asset seizure, at least insofar as funds being held by the payment processors. My concern was that this might mean a ripple through the system where players end up being slow-payed, or worse.
FWIW, another source has offered this, sounds related (?):
Mastercard is doing a sweep right now against those taking cards that are NOT 7995. They have had a sting in place. This is not VISA, Mastercard only.
I'm hearing 'all January receipts seized' so it does indeed sound like they're being retroactive about it. That's got to hurt!
Let me get this straight: Mastercard is "seizing" funds that were used for depositing in online casinos? What, does this mean they reverse the transactions in effect resulting in a backdoor chargeback? If that is the case, then the players wouldn't be out of the money but the casinos would. Further the case, then I guess the casinos would then take that much out of the player's balance provided the player didn't already lose it all.
Thankfully I never used Mastercard for depositing into online casinos.
So Mastercard is doing this even in countries that allow online gambling?
This could cause them serious legal problems. The intent is probably aimed at those processors that deliberately disguised gambling transactions as something else. There should have been no need for this in countries where online gambling was legal, but casinos will STILL be affected if they used such trickery even though they didn't have to.
This looks like gambling transactions that were put through as gambling transactions (merchant code 7995) should be honoured.
Gambling transactions put through with other codes to hide their nature are probably the ones being investigated, and merchant funds seized. I would expect these processors will also have their Mastercard facility removed.
US players are likely to be most affected, and it WILL result in "chargeback" conditions for the processors, who will then seek to pass this on to the casinos.
The net effect might force a few casinos to quit the US market, which is just what the US authorities want. UIGEA was designed to disrupt the transactions, and this is EXACTLY what will result from this latest Mastercard action.
Casinos MAY react by blaming the PLAYERS for this, and placing them on a chargeback blacklist, even though it was the CASINO trying to get around Mastercard restrictions in order to keep accepting deposits from players. Players may then find themselves having to fight to clear their names from the smear that THEY initiated chargebacks to get out of bets that went sour. It has happened like this before, with PLAYERS taking the blame for a decision by their BANK to retrospectively retrieve transactions once they became aware they were related to gambling.
I have a credit card i use and have used it once at a casino (Slots Oasis) its a Master card, could the Rushmore group kick me to the curb if it comes back to them and they pass the buck on to the player, will i have to give them the deposit money back in order not to be named as a chargeback player.
This really is a new low for Master card and is going to hurt the Casinos that used MC for depositing, but what about those players, they will suffer twice, maybe losing their credit card status, maybe having to payback the casino in order to save their good standing at the casino..........Its going to be a never ending merry- go - round ride, i fear.
If they do a mastercard chargeback, I wonder, Does the Casino or Merchant Provider Know if it was Mastercard that did it, or if the player did it on his own?
I can see 2 things happening. Winning player gets a chargeback from his mastercard, and his deposit/winnings are forfiet, and he is banned. I also see a player Losing, doing a chargeback on his own, and then saying, "MC did it, not me".
I hope Casino Reps, chime in and let us know that they can tell the difference, to protect the honest player who actually does end up with a MC Chargeback.
Let us all get ONE thing straight
If MasterCard prompts a industry wide chargeback - there is no way that the casinos will hold individuals responsible.
HOWEVER - they cannot realistically charge Casinos BACK all the money CASINOS intook for those months already collected on.
Not only that - the money would have to be returned to the customer - and you're talking a MASSIVE undertaking - that NO ONE would want to be a part of.
Personally it just sounds like MC is STOPPING the allowance of online gaming worldwide.
Just an opinion tho.
Methinks that they may be investigating what is gmbling charge and what is not - but I dont think they are going to undertake the ENTIRE industry returning funds to players.
If MasterCard prompts a industry wide chargeback - there is no way that the casinos will hold individuals responsible..
Correct, as the term I see in this thread, "chargeback" is being used incorrectly.
A MID going down is totally different. It will be painful to many as any money that had not been sent to the casino (settled) would be gone. This has happened in other industries and is also different then a seizure, though I can see why the confusion...
Bottom line, For those wonder why is MC and not visa, is most gaming transaction happen with Visa International, not Visa..Small difference in the corporate structure, but this is why MC always folds first...
Don't think Visa won't be behind this in process.
But what I am seeing is that VISA IS indeed investigating gambling charges - hence in SOME Visa's (ie NETSPEND) you are now capable of documenting the TYPES of charges from the plyer's side.
HOWEVER - I have had ONE prepaid Visa that closed my account down and investigated the charges. I just closed it completely.
Still the INDUSTRY wide thing is this; They will probably just stop allowing gaming transactions - nothing too hideous at this point.
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I have just had confirmed to me by TG management that both VISA and MC held an action against a major processing company used by many different operators/platforms.
As a result of this action there maybe some slight delays with player withdrawals but we wanted to assure everyone that all withdrawals will be processed asap.
In the meantime if any player has a question about their withdrawal I would ask you to please contact customer support of that casino.
Quicktender is also disallowing MC for funding for now. They have given no reason other than an issue with the payment processor. At least that's what I see when I log in to QT. Been days now, and the MC i had listed there is blocked out. Since about Feb 1.
I was more specific in some PM's starting in the fall. (Will check them out and possibly post some specifics).
UIGEA is not the cause but may wake up the sleeping dogs. VISA and MC have their own TandC's for both merchants and cardholders. Oh my, including terms related to gambling at least for US cardholders. We have all been trained to read those TandC's, yes!! HYPOCRISY and GREED and ADDICTION and IGNORANCE and
Mastercard crackdown leaves US players unable to pay
US-FACING operators have been hit by an overnight crackdown on online gambling payments by credit card giant Mastercard.
The US company is believed to have toughened its stance on the widespread practice of operators coding egaming transaction as other kinds of online commerce, which will all its US customers from using their cards to gamble online.
Rival US card giant Visa is rumoured to have taken a similar measure, although this could not be confirmed at the time of writing.
The action is a sign that banks and payment companies are preparing for implementation of America’s Unlawful Internet Gambling Enforcement Act (UIGEA), which bans the facilitation of online gambling by payment companies.
LONDON BRIDGE IS FALLIN' DOWN...The show will soon be over folks. Visa will follow suit soon. This casino operators office will be raided. This sting is bigger than you could imagine. Don't be surprise if someone knocks on your door.
And I heard another voice from heaven, saying, Come out of her, my people, that ye be not partakers of her sins, and that ye receive not of her plagues. 5 For her sins have reached unto heaven, and God hath remembered her iniquities.
Ignore the warning signs all you want to. But its OVER FOLKS! Watch...2010 is IT!!!!
Master Card seized all january receipts for online Gambling??
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