France Feels the Credit Card Sqeeze

27 June 2003

Bank One's new zero-tolerance policy toward I-gaming isn't the only bad financial news today for companies in the industry.

IGN has learned from a source close to the credit card and online payment transaction industries that the national card organization that stands for Visa and Mastercard-Eurocard in France is making a move to block all online gambling transactions.

The change would take effect June 29 and will force French banks to also terminate any relations with the online gaming industry.

French banks have traditionally taken a relatively lax approach toward coding transactions and have allowed gaming transactions over the last couple of years go through without the requiring the 7995 code.

The new rule would apply to all gaming transactions--coded and non-coded.

Officials with the credit card organizations were not immediately available for comment. Interactive Gaming News will follow up with more information on this breaking story as it's made available.