Paypal is arguably among the most popular online casino payment methods to date. The American company was first launched in 1998 and four years later, in 2002, when it had its IPO, it became a subsidiary of eBay. Since then, Paypal has been growing and expanding, until finally, in 2015, the company became independent. This payment provider offers its services across the world, which is part of the secret to its success and one of the reasons why this is the payment method of choice for a very large number of individuals and businesses. To be completely precise, the service is available in 202 countries. Furthermore, you may choose to have your account with one of 25 different currencies. Once you access the website, you will be able to choose from the list of carefully sorted countries.
Licensing is different for this particular payment provider, depending on the different country. For example, in the USA Paypal is not considered a bank, but a money transmitter. Within the European Union, however, it has a banking license. But that wasn’t until 2007, before that it was licensed as an Electronic Money Issuer with the UK’s FSA. And as it is with most payment providers, Paypal stresses on security. The provider monitors each and every transaction, 24/7, and ensures the safety of its users with the help of next-level encryption technologies. In addition, the company also boasts of its refunds and chargeback policies.
Using the service
Paypal is fairly easy to set up, which is also another appealing trait. All you need to do is have an active email address to register with. That’s all. You can register from the main site, which is also where you will be logging in after that. Users can set up a personal account or a business account. By choosing the former, you will then need to enter your country of residence, email address and come up with a password. Once you have opened your account, you can then proceed to link your account to either a credit card or a bank account. This will also depend on your location, as some countries will not offer the option of linking your bank account directly. In most cases outside the USA, you will need to settle for a credit or debit card. Following this, you can use Paypal to top up your account, send money to other Paypal users, purchase goods and services via various online platforms, etc.
Paypal is also great for vendors, because you can actually use this provider to request payments for something you’ve sold. What’s more, Paypal is also keeping up with the times and offer users to make payments with their fingertips. You can purchase products and pay for services just as easily from the comfort of your smartphone or other portable device. However, there are certain fees to consider for some of the services. For example, transferring money from Paypal to your credit or debit card may cost you a certain percentage of the total sum. But if you choose to make personal transfers from your Paypal balance to another Paypal account, you can do this free of charge.
Casinos where Paypal can be used
Though Paypal isn’t quite as common on online casino platforms, there are still a number of different casinos that offers it as a payment method. If you would like to use Paypal as a deposit method, check out Slotcrazy, for example. Other online casinos you can try include 888casino, Spinzilla and Wildjackpots. Be sure to check the separate withdrawal and deposit limits, as well as the processing time for each of those separate casinos, though. Note that each of them may or may not charge fees for the transactions, so check the respective sections.
Pros and Cons
There’s much to like about Paypal and the first thing would be its ease of access. You don’t need to fill out any elaborate forms and extensive personal detail to set up an account. All you need is a name and an email address. Further on, as you continue using your accounts and depending on the amounts you transfer, this might change. You might need to send details to the company, so in that sense, there is no chance for anonymity. That could qualify as a disadvantage, especially in the world of online gaming. However, on the brighter side, you can count on instant transactions within Paypal. You also have the freedom of choosing from a large variety of currencies, which may also come in handy. What’s more, the protection and refund guarantees that the site offers are also something to consider. This way you can be sure that you won’t fall victim to scam or other malpractices.
Another good thing is that you can use this payment method from your phone or tablet, making transactions even simpler. You can also have a balance on Paypal, so that you will not be subject to charges for transfers.