Ladbrokes has signed an agreement with earthport, the online and offline payment infrastructure company, to bring earthport's e-wallet technology to Ladbrokes' gaming platform. earthport is hoping Ladbrokes will be the first of many I-gaming clients.
Ladbrokes is excited to be bringing the new payment solution to its I-gaming customers.
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"We have decided to embark on a program to target the interactive gaming market and we have a number of potential clients."
-Rick Flood, earthport
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"This deal allows us to extend our global reach to allow more Internet banking options to consumers in parts of the world where there is still a reluctance to use credit cards online," said a spokesperson for Ladbrokes.
earthport's e-wallet payment system enables Ladbrokes users to have their own personal e-wallet that is accessible at all times from anywhere in the world. Similar to an actual wallet, e-wallet holds a user's payment details, as well as allowing money to be spent online without communicating those details to the merchant.
The user's funds remain in the banking system until the payee requests payment out of the available funds shown as in its e-wallet.
The e-wallet payment system enables bi-directional cash payments to be made electronically in all amounts, from the very small to the very large (subject to certain commercial limits), and is therefore capable of servicing numerous types of transactions.
"With earthport you can choose how you want to do this, the choice of the customer is deposited in a Ladbrokes wallet that is specific for Ladbrokes use," Rick Flood, COO of earthport, explained.
earthport hopes this initial endeavor into the I-gaming industry will motivate other online gaming companies to utilize the e-wallet technology.
"We have decided to embark on a program to target the interactive gaming market and we have a number of potential clients," Flood said. "We were very focused on trying to ensure landing a big client that would help us to leverage everything else we want to do, hence why we have announced Ladbrokes."