US payment processor Vantiv has confirmed that it is to launch a new division to formally enter the payment processing sector of the gaming industry.
According to Cincinnati.com, the company will launch Vantiv Gaming Solutions at the Global Gaming Expo in Las Vegas, Nevada next week.
The firm has opted to introduce the new unit in order to take advantage of the growth in online gaming and the platforms developed for exchanging money.
Joe Pappano, senior vice-president and general manager of Vantiv Gaming Solutions, said that the company had spent nearly five years planning the venture and had developed a payment processing platform specifically for the market.
“With the launch of Vantiv Gaming Solutions, we will provide a new level of commitment to our gaming clients with a single, dedicated focus on protecting the integrity and reputation of their brands, securing transaction data, and delivering to their customers an exceptional, seamless experience,” Pappano said.
After being spun off from US regional bank Fifth Third Bancorp in 2009, Vantiv completed an initial public offering in March 2012.