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Safe and Secure Internet Gambling Financial Model

Safe and Secure Internet Gambling Financial Model . Safe and Secure Internet Gambling. Payment Authorization Transfer of Funds. Payment Authorization. When registering, the customer provides (at a minimum): Name & Address Telephone Number Identity Number/SSN Date of Birth

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Safe and Secure Internet Gambling Financial Model

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  1. Safe and Secure Internet Gambling Financial Model

  2. Safe and Secure Internet Gambling Payment Authorization Transfer of Funds © UC Group 2007

  3. Payment Authorization • When registering, the customer provides • (at a minimum): • Name & Address • Telephone Number • Identity Number/SSN • Date of Birth • Once registered the customer receives a unique user name & password. • When purchasing, the customer provides • (at a minimum): • Name & Address • Credit Card Number & Security Code • Expiration Date • Amount Payment Authorisation Transfer of Funds © UC Group 2007

  4. Payment Authorization Information provided by a customer during registration is confirmed via third party Know Your Customer (KYC) systems, after which the following checks are performed: Legal Age - is customer of legal age? Check both DOB provided & whether confirmed by KYC. Legal jurisdiction - is customer located in a legal jurisdiction? Also confirm residence, details provided & whether confirmed by KYC. Not barred from playing - do details exist on any blacklist, whether fraud or compulsive gambling (including exclusions)? Limits – are limits in place (e.g. individual bet limit, cumulative loss limit)? How much has the customer gambled over a certain period of time? Payment Authorisation Transfer of Funds © UC Group 2007

  5. Payment Authorization The Financial Services Provider uses 3rd party IP Geo-location databases to confirm the Customer’s location & blocks the transaction if from a prohibited jurisdiction Under Age Checks: is a credit card being used? If so, is the card sponsored? Customer not prohibited. Do details exist on any blacklist (compulsive gambling, exclusion, fraud, OFAC, etc)? Payment Authorisation Transfer of Funds © UC Group 2007

  6. Payment Authorization The Operator’s Bank passes the transaction to the Customer’s Bank for approval. Payment Authorisation Transfer of Funds © UC Group 2007

  7. Payment Authorization The Customer’s Bank checks any “Hot Card” lists to ensure the card is not stolen. The Customer’s account is checked to ensure sufficient funds, in which case the transaction is approved. Payment Authorisation Transfer of Funds © UC Group 2007

  8. Transfer of Funds The Customer’s Bank withdraws the funds from the Customer’s account and transfers it on to the Operator’s Bank. Payment Authorisation Transfer of Funds © UC Group 2007

  9. Transfer of Funds The Operator’s Bank transfers the collected funds to the Financial Services Provider. Payment Authorisation Transfer of Funds © UC Group 2007

  10. Transfer of Funds The Financial Services Provider transfers funds to Operator NET of license / tax / fees. Customer receives FULL amount of deposit. Prior to initially transferring funds, the Financial Services Provider will have performed comprehensive due-diligence on the Operator, including the checking of anti-money laundering and fraud databases. Payment Authorisation Transfer of Funds © UC Group 2007

  11. Transfer of Funds Financial Services Provider transfers Federal, State and County license / tax revenues to relevant body. Operator pays taxes as required by law Payment Authorisation Transfer of Funds © UC Group 2007

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