Manchester firm behind new technology to reduce fraud in i-gaming
A Manchester start-up has signed a deal with Gift-Pay, which aims to reduce fraudulent pay-outs within i-gaming.
VST Enterprises has partnered with the digital credit redemption provider, to offer protected, traceable and instantaneous transactions.
Gift-Pay will use the firm’s scanable VCode symbol, so that gamers can quickly, securely and legally obtain their winnings.
The company will sell the VCodes, or VGifts to gaming operatives and these will have a payment schedule assigned to them.
“Despite the strides made in digital payment systems, credit redemption remains problematic. Prepaid debit cards can often be difficult to redeem, and repayment laws in certain countries divert payments through credit approval houses, which slow down transactions,” explained Louis-James Davis, CEO of VST Enterprises.
“In response to these issues, we have partnered with Gift-Pay to offer a comprehensive solution for the i-gaming industry. When businesses buy a VGift from Gift-Pay, they’re able to offer instantaneous credit transactions worldwide, which are legal and uninhibited by credit approval houses.”
VST say that it makes the transaction “totally transparent and traceable”, with an email sent to the winner, to inform them that they can claim their credit. But they can only do this, once they’ve downloaded a special app and then logged into the system to ensure that they have the correct details.
“We at Gift-Pay are delighted to partner with VST Enterprises on such an emerging digital payment market. With offices in both Manchester and Singapore, we endeavour to supply a global payment solution and the VGift application is helping us to revolutionise this rapidly developing solution,” added Adrian Pegler, co-founder of Gift-Pay.
“The initial feedback has been extremely encouraging and we look forward to welcoming new and old clients to engage with this innovative payment process.”