Vantiv, a payment processing company based in Cincinnati, Ohio, has launched a new division to process gaming payments. The division's charter will be to take advantage of the growing need for a monetary exchange for fantasy sports, online gaming, online lotteries and social gaming.
Vantiv is a leading provider for payment processing solutions and works with banks, financial instutiions and business on these technologies. Forbes in 2013 named Vantiv one of its Fast Tech 25 along such heavyweights as Apple, Facebook and Google.
The company cited that in 2012, gaming revenue for the U.S. exceeded $180 billion dollar and the expectation is to see double digit growth in the next decade.
FTSB says: Vantiv is entering the market for payment for gambling games. The fact they include fantasy sports in this area speaks to where organizations are seeing where fantasy sports belongs. This inclusion is targeted towards the daily fantasy game market that is seeing continued interest and growth.
