Cryptologic with New Payment ProcessorBy: Ryan Alders, Tuesday January 12th 2010
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Online casinos generally outsource credit card payment processing to third parties. Providing online gaming services is the core competency of software providers. Payment processing requires different expertise and is best left to parties having requisite experience in that field. Cryptologic has been experiencing tremendous growth at its online casinos and has therefore been looking at increasing the capacity and functionality of payment processing. Ultimately Cryptologic has signed a three-year deal with Realex Payments for undertaking its card processing requirements.
Realex Payments was founded in 2000 by award winning entrepreneur Colm Lyon. Today it services over 3,500 clients across Europe, including The AA, Virgin Atlantic, Vodafone and Aer Lingus. The client list of Realex Payments also includes leading online gaming operators like PartyGaming. Realex Payments will provide comprehensive payment processing services for Cryptologic across a variety of currencies, regions and card types, and will provide a gateway service to its card acquiring partners.
Kieron Nolan, Director of Treasury at Cryptologic, explained the reason for selecting Realex. Nolan said, "Although we had a very tight deadline and an extensive wish list of specific requirements, Realex was able to implement the solution quickly and efficiently, meeting our demands in the timeframe required." Nolan enumerated the advantages accruing to Cryptologic from the services to be provided by Realex Payments. Realex Payments is offering a cost effective solution and a high level of support and consultancy. The Realex Payments technology and operational approach is state-of-the-art and suited to Cryptologic’s needs. Cryptologic will receive concise and easy-to-follow monthly reports and will deal with a very professional, prompt and responsive dedicated account manager.
Realex Payments Chief Executive Officer and Founder Colm Lyon also expressed satisfaction with the deal. He said that there are similarities between Cryptologic and Realex Payments. Both focus on delivering innovative products to their clients. It is a testimony to Realex Payment’s leadership in the field to be selected as Cryptologic’s global payment partner ahead of an incumbent. Lyon also spoke about the strengths of his company that were instrumental in bagging this deal. These included their ability to deliver required systems in a tight timeframe.
Cryptologic was founded in 1995. It is a pioneer in the multi-billion dollar global online gaming market. Cryptologic develops proprietary online betting games and online casino software. It also provides support and administrative services for comprehensive online gaming operations. As a result of the partnership between Cryptologic and Realex Payments, Cryptologic will be able to significantly improve its technical infrastructure so as to match its future growth plans. Players at Cryptologic online casinos will enjoy better payment processing services and be assured of security and reliability.
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