iGaming Business – Financial services providers Mastercard, Visa and PayPal have reached a voluntary agreement with the Gambling Commission to block payment transactions with unlicensed gambling websites when new laws come into force in the UK.
Speaking in the House of Lords, Baroness Jolly confirmed the three providers had made the agreement with the regulatory body despite members of the House rejecting an amendment to the Gambling (Licensing and Advertising) Bill.
As reported by iGaming Business, the House of Lords voted 171 for and 185 against an amendment that would have allowed the Gambling Commission to block financial transactions between UK citizens and unlicensed online gambling sites.
Under the voluntary agreement with the Gambling Commission, the three financial service providers will block transactions to non-licensed sites when the new law comes into force at the end of the year.
The Gambling Bill will face a third reading on March 18.
