Content provided in partnership with

Business Services Industry

Parlay Licensees To Gain Access To Direct Bank-Issued Merchant Processing Accounts

Business Wire, Sept 11, 2003

Business Editors/High-Tech Writers

TORONTO--(BUSINESS WIRE)--Sept. 11, 2003

TransAct-Online agreement to enable credit card acceptance

at Parlay-powered gaming sites

All amounts in United States Dollars

Parlay Entertainment Limited, a member of the DCEG Group of Companies (OTCBB: DCEG) and a leading supplier of software and services to the e-gaming industry, today announced the signing of a letter of understanding with TransAct-Online, the gaming sales portal for the U.K.-based Global Funding Alliance. This relationship gives Parlay licensees the opportunity to obtain a direct bank-issued merchant processing account for their gaming sites, eliminating the risks to gaming operators and players associated with third-party credit card transaction processing.

Most Popular Articles in Business: Research and Markets : Tesco Plc - SWOT Framework Analysis; Do Us a Flavor - Ben & Jerry's Issues a Call for Euphoric New Flavors; eBay made easy: ready to start an eBay business? These 5 simple steps will ...; Katrina's lawsuit surge: a legal battle to force insurers to pay for flood ...; Wal-Mart's newest distribution center opened last month near the southwest ...; More »

Parlay will integrate links to Global Funding's proprietary software that will enable credit card acceptance for gaming transactions. In an environment where gaming customers and gaming operators have had to use third parties to process customer transactions for purchases, the opportunity to have a direct bank-issued merchant relationship is a significant benefit for Parlay licensees. With a direct bank-issued merchant processing account, proper coding of gaming transactions is ensured, all credit card billing is designated in the gaming operator's company name and reserve accounts are established directly between the operator and the bank rather than with a third-party processor.

"With the difficulties that both operators and players have experienced in credit card processing, we are pleased to offer our licensees a solution that enables them to apply for a direct bank-issued merchant account," David Outhwaite, Parlay's CEO. "This relationship is further evidence of Parlay's commitment to helping its licensees set themselves apart and grow their business in an increasingly competitive environment."

About Global Funding Alliance and TransAct-Online

Through its relationships with major international banks, the Global Funding Alliance provides the opportunity for gaming site operators to obtain a direct bank-issued merchant processing account. The U.K.-based Global Funding Alliance and its world-class banking partners bring together significant experience in gaming and ethical payment processing. The Curacao enquiry center of TransAct-Online (www.transact-online.com) understands the needs of the many gaming business organizations that have been unable to secure a direct merchant processing account, and can be contacted to secure a merchant application at info@transact-online.com, or by fax on company letterhead to +44 87 (0) 1206936.

About Parlay Entertainment

Parlay Entertainment Limited licenses and supports Internet gaming products and related services, and neither operates nor participates in its licensees' online gaming sites. As one of the first companies to license multi-player, pay-for-play bingo technology on the Internet, Parlay is a leader in the online bingo market, and offers a comprehensive suite of Java, Flash and downloadable bingo, casino and lottery products. Parlay is committed to customer satisfaction and the regulatory compliance of its entertainment software products worldwide.

dot com Entertainment Inc. (DCEG), www.dceg.com, is a SEC reporting issuer, the common shares of which trade on the OTCBB under the symbol DCEG. There are presently approximately 10.9 million shares outstanding.

Certain statements in this news release, including, but not limited to, statements containing the words "anticipates", "believes", "expects", 'intends", "will", "may" and similar words constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the Company's current expectations and involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from any future results or performance expressed or implied by such forward-looking statements. These risks, uncertainties and other factors include the uncertainty relating to the lawfulness of Internet gaming, DCEG's ability to profitably expand its products and services to new markets and customers, continued industry acceptance of, and the risk of technological obsolescence related to, DCEG's game systems and the risk associated with the generation by individual customers of a significant percentage of DCEG's revenue, including the risk of non-payment of outstanding receivables, among others.

Business Services Industry

Parlay Licensees To Gain Access To Direct Bank-Issued Merchant Processing Accounts

Business Wire, Sept 11, 2003

Find Research Guides for:

Find Featured Titles for: Arts

Most Popular Articles in Business

Most Popular Publications in Business