PayPal Says OK to 32Red
June 30, 2009 (CAP Newswire) — After a period of almost a decade in which its services were off-limits to online gambling companies, online payment processing service PayPal is now reportedly easing back into the industry, with online casino company 32Red the latest to receive its approval.
According to a report in eGaming Review Magazine, PayPal banned gaming transactions back in 2002 due to a fear of repercussions from the U.S., which was at that time tightening up its regulations because of the terrorist attacks of September 11, 2001.
Seven years later, with those restrictions easing, the company is thought to be welcoming the business of online gambling companies again — at least, in its U.K. business branch. eGaming Review reports that 32Red is the latest on a list of about 75 online gambling partners that PayPal now has.