Norwegian Government Releases Report On Probes Into Entercash And Trustly
New data from the Norwegian government shows state authorities have been working hard to put an end to gambling payment processing sites that continually disregard Norwegian law. The two major companies targeted in the Norwegian Gaming Authority’s latest probes include Entercash and Trustly.
According to the latest reports released in mid-December, the Norwegian Gaming Authority informed all banks that both Trustly and Entercash were continuing to illegally accept gambling payments online. Gaming regulators say they have yet to receive any legal paperwork from these companies concerning their gambling networks.
Specifically, gaming authority members said Entercash was responsible for at least 130,000 illegal transactions to Norwegian punters in a span of two months. All of these transactions totaled $80.5 million.
As for Trustly, Norwegian regulators said the company was responsible for about 58,000 transactions within the same time frame. These transactions translated to around $40 million.
The only two legal online gambling payment companies in Norway are Norsk Tipping and Norsk Rikstoto. Both of these companies are owned and operated by the Norwegian government.
Back in 2016, Norway appeared as if it might open its gambling market to international payment companies. At the end of the year, however, the Nordic nation made it clear it wanted to keep its monopoly on the gambling market.
Earlier in 2017, the Norwegian Gaming Authority banned banks from dealing with five international and two local payment processing companies for their involvement in gambling. A few of these companies include Betclic Everst Group, Worldpay, and Earth Port. Trustly and Entercash were also on this list.
Since the European Union doesn’t look like it’s interested in interfering in member states’ gambling trade issues, it’s unlikely any of these companies will be able to appeal their cases to the European Commission.
The European payment processing company Entercash says it’s committed to helping merchants and customers with daily transactions. Entercash is headquartered in Malta and available all throughout Europe.
Like Entercash, Trustly is a major player in the pan-European payment processing space. Founded in 2008, Trustly has numerous offices in major European cities like Barcelona, Sliema, and London. Trustly’s main headquarters is in Stockholm, Sweden.