Foghorn Payments, a leading payment service provider, unveiled details regarding a new iGaming payments solution that is compliant with the gambling regulations in Ontario.
Leading Payment Service Provider Rolls Out New Solution
The latest announcement came Thursday and delivers a new solution for Canadians called Interac Express Debit. Foghorn’s leading solution enables customers to pay directly from different financial institutions. This innovative solution offers an easy and quick payment process for Canadians while at the same time complying with the regulations of the Alcohol and Gaming Commission of Ontario (AGCO).
In addition, Foghorn introduced a solution that fully complies with the Responsible Gambling Council (RGC) called Responsible Payments. The company acknowledged that payments within the iGaming industry have always been challenging for online players. Foghorn explained that those payments relied on: “expensive cash advances from credit cards or requiring secret bank information to be exposed to third-party “bots” that can cause security concerns.”
The payment provider’s leading payment solutions enable online players to complete payments safely. Online users can pay directly from their bank account, while the solution itself is tapped into the Canadian financial system. This means that there’s no need for a third-party payment processor when completing the transactions. According to Foghorn, its solutions seek to reduce fraudulent transactions. At the same time, the company’s innovative payment solutions support Responsible Payments and are in compliance with the AGCO.
Responsible Gaming Benefits from Responsible Payments
Offering reliable, secure, real-time and scalable payments online is a key goal for Foghorn Payments. The company’s solutions stand out with high levels of security and meet the highest standards for risk management. Overall, Foghorn is famous for offering one of the most secure methods for payment transfer in the world.
“Responsible gaming starts with Responsible Payments. We offer safer, sustainable options that benefit both players and the industry.“
Mike Bradley, Foghorn Payments’ CEO and founder, acknowledged that responsible payments boost responsible gaming. He explained that the company offers secure payment options that can be used by users or operators within the growing online gambling industry. Bradley explained: “Many customers may not be aware that they are violating bank agreements and voiding protections by providing secret bank information to third-party bots.” Last but not least, he warned that credit cards can be expensive and may bring financial burdens for customers.
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