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Fireone Group To Suspend US Operations

Fireone Group, which processes online credit card payments for the gaming industry, is to cease US transactions.

The firm announced that as part of wider restructuring they would be cutting costs.
The decision by US lawmakers’ to illegalise banks and credit card firms from processing gaming payments has left the online industry in complete turmoil.

Many gaming firms receive the majority of their income from the US, and the news has led to their stock market values plummeting; some firms are now being downgraded on the London Stock Exchange.

Presidential approval is required for the new bill before it becomes law but this is expected in the near future.

Fireone Group said it would stop processing gaming-related transactions originating from the US once the bill becomes law, also stating this would have a negative effect on its business.
This news also deals a huge blow to the gaming firms and their American customers.


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