Paypal Days Comes to a Standstill

News of the online mart, eBay to buy Paypal for around $1.5 billion in stock transaction has put gamblers in a binding situation. On Monday ebay stated that they plan to discontinue the payment service for online gaming transactions. Ebay ascribes its new pronouncement to an "uncertain regulatory environment surrounding online gaming. Forecasters deem that this decision may be harmful for the online gaming industry.

As new bank and credit card policies surfaced in early spring, not acknowledging the gaming Industry, gaming venues and casinos have sought other payment methods, and once again the online gaming Industry finds itself seeking other payment services.

However, many gamblers have already made the switch to other payment plans such as FirePay, Neteller or debit cards that automatically withdraw money from the customer´s bank account. On the other hand, some consumers feel uneasy using their debit cards for security reasons, and feel more secure making transactions with their credit cards. Michael Tew, a market analyst at Bear Stearns who lately made available a testimony foreseeing a major plunge for online gaming venues said, "There are a number of alternative payment solutions. The problem is in terms of size, none of them have as much exposure or usage as PayPal does."