Having a reliable online payment processor is very important to gamblers that chose to wager at online casinos.  Most online casinos offer a long list of options when it comes to payment processing.  There are several payment processing options out their, many with great reputations.  However, one particular online payment processor is beginning to lose credibility very quickly.

Intabill, a popular electronic cash process based in Australia, is in debt for  AUS 30 million.  AUS 3 million of that debt is owed to online casinos.  On a positive note it appears that most of the companies doing business with Intabill are stable enough to continue operating despite the unreliability of Intabill.

Intabill was founded by Daniel Tzvetkoff.  The 24 year old Bulgarian built his fortune as an entrepreneur.  Intabill is a Brisbane, Australia based company owned by BT Projects Pty Ltd.  Tzvetkoff is one of three share holders in the company.  The other two are Sam Sciacca, an Australian lawyer, and Rendel Investments, a company based in Alberta, Canada.

“In recent weeks we have come to the realization that diversifying in these difficult market conditions presents too many risks and challenges,” said Tzvetkoff.

“Hence we have decided to scale back our operation to focus on our core e-commerce processing platform.”

Roughly 50 percent of the Intabill’s business comes from online casinos.  At one point in time the company claimed to be among the top ten online payment processors on the Internet.  Poker Stars and Full Tilt Poker are among the online gambling sites which the company is indebted to.