FirePay bowing to the pressure now as well |
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Posted Tue Oct 10, 2006 12:39 pm GMT by raisebot
From Reuters
http://tinyurl.com/j8l69
FireOne to block U.S. gamblers after ban
Tue Oct 10, 2006 7:44 AM BST
LONDON (Reuters) - Payment processor FireOne Group (FPA.L: Quote, Profile, Research) said on Tuesday it would stop dealing with U.S. online gamblers after President George W. Bush signs a bill into law banning payments for online gaming there.
"The act will have a significant negative impact on the business ... and consequently the company has embarked upon a restructuring of its operations and cost base," it added.
At the start of this month, U.S. Congress unexpectedly approved a bill making it illegal for companies to accept bets over the Internet or for credit card companies to process payments for online gambling.
The gaming industry considers it inevitable that Bush will sign the act into law, and many companies have already said they are pulling out of the United States.
Share prices crashed across the sector last week as a result, wiping out around $7 billion (3.7 billion pounds) of company values.
FireOne, which is 76 percent-owned by Canadian payments firm Optimal Group (OPMR.O: Quote, Profile, Research), said: "The company ... will consider additional card-not-present payment processing opportunities outside of online gambling."
FireOne shares closed at 65 pence on Monday, having fallen from 177 pence before the act was passed, valuing the group at around 36 million pounds.
© Reuters 2006. All Rights Reserved.
(FireOne is FirePay's parent company)
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Posted Wed Oct 11, 2006 8:33 am GMT by UrAteUp
You know the pokersites should ban together and start their own online wallet site. I can't beleive all the weak ass companies folding to a stinking US law that really does not affect them and can not be enforced by the US goverment. Where is the backbone in the world? Will all companies let the US dictate how they run even when they aren't US based? What's next....the Bank of London will stop trading pennies because the Us says so? God save us when this Empire falls as all empires do.
Posted Wed Oct 11, 2006 12:55 pm GMT by ORGrinder
i agree UR... i hope firepay goes broke. short of them being american owned (which could be the case in which case i take back what i just said), they're just major weaksauce for pulling out, and i hope they go broke. and like with the poker sites... if something happens and they open their doors again, i encourage EVERYONE to NOT use them.
Posted Wed Oct 11, 2006 1:28 pm GMT by raisebot
| ORGrinder wrote: | | i agree UR... ... short of them being american owned (which could be the case in which case i take back what i just said),... |
| Reuters wrote: | | FireOne, which is 76 percent-owned by Canadian payments firm Optimal Group (OPMR.O: Quote, Profile, Research), said: "The company ... will consider additional card-not-present payment processing opportunities outside of online gambling." |
I have to say though that after checking out a bunch of message boards and opinions, that it seems FirePay has been accused of ripping quite a few people off. I used them about 3 years ago without any issues but if it's true that they've gotten shady recently, then I say good, we don't need companies like them anyway. But like I said, I never had any problems with them, so who knows? 
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