According to Spanish newspaper La Razon, the Madrid Regional Government is preparing a new Gambling Regulations that authorizes the opening of betting shops and legalizes the operation of internet bookmakers and exchanges headquartered in Madrid.
Aragon, Catalonia and Basque Country are believed to be working on similar regulations.
In separate news, Citadel Commerce has launched RapidTransfer, a near real-time bank transfer option for myCitadel Wallet customers located in Spain. RapidTransfer provides a low cost and low risk local payment alternative to credit card payments which are expensive, subject to chargebacks and fraud, and are not the desired payment method in many countries.
“This strategic launch for myCitadel addresses a need expressed by our merchants to meet the rapidly expanding market in Spain. By implementing the RapidTransfer platform, we have reduced the time a customer must wait for on-line funds to transfer to their playing accounts from one week to near real-time,” said Michael Meeks, President of Citadel Commerce. “The launch is part of our growth strategy into the European markets where our merchants are rapidly expanding their payment infrastructure.”
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