The Russian iGaming industry to incorporate Mastercard in its payment options

The Russian gaming industry claims to be the most unique in the world and has seen exponential growth over the years. The Russian based authorised online gaming companies now are about to incorporate  ‘MasterCard’ in their payment options.

The Russian authorities’ publicised that the addition of this payment option would propel the growth of iGaming industry in the local market. Betting Business Russia revealed that transactions made in licensed online gaming platforms in Russia will be coded with Merchant Category Code (MCC) 7995, associated with gambling. Though, iGaming operations with credit cards have not yet received a green light in the country.

It was confirmed by the local newspaper that the transactions will be made viable through MasterCard’s platforms. Russian bookmaker Leon’s press-service said the move “will have a positive effect on the development of the legal online betting market in Russia,” as reported by AGBrief.

It is planned to implement this new payment option prior to the commencing of the World Cup, fixed to be held next June, in Russia. Leon also commented that the decision is “yet another step towards getting the industry closer to best representatives of regulated betting jurisdictions in Western Europe.”

The Head of the self-regulated organisation Association of Bookmakers, Darina Denisova said: “Upon coming into force, the decision of the payment system will help our legal online operators attract even more clients.”

Meanwhile, the Federal Service for Supervision in the Sphere of Telecom, Information Technologies and Mass Communications, Roskomnadzor demanded the virtual private networks (VPN) services to set stricter conditions of access to international websites, including online gaming platforms.