New Jersey could require stricter licensing for payment processors

Las Vegas Review Journal – New Jersey wants stricter licensing requirements for companies that handle Internet gambling deposits and payments, in the hope it would make banks more willing to let online bettors use credit cards. Banks’ reluctance to allow credit card use is one of the main things holding back the growth of New Jersey’s new Internet gambling industry. Speaking Tuesday at the East Coast Gaming Congress in Atlantic City, state Senator James Whelan, a former Atlantic City mayor, said a bill introduced in February would require payment processors to obtain a casino industry service license. Payment processors currently…