How to Choose a Payment System For Online Casino
The global trend of moving to the online segment continues to gain momentum. The volume of online sales is growing every year and is already comparable to the volume of traditional trade.
When gambling was just starting to move online, payment could only be made using bank transfers and credit or debit cards. Now the situation has changed: gamblers have access to many ways to make a deposit, depending on the country of residence and individual preferences.
Top 7 payment systems for online casinos
VISA is the largest credit and debit card company. This American multinational financial services corporation is renowned throughout the world.
The payment system specializes in transactions in dollars. In 2015 alone, 109 billion payments were processed in more than 200 countries and regions around the world.
Because of this widespread popularity, VISA is accepted on almost all online casino websites. The advantages of using the system are:
- low commissions;
- ease of use;
- automated round-the-clock transactions;
- no need for binding the system to the country.
One of the advantages of WebMoney is the ability to make payment transactions anywhere in the world, regardless of a bank card availability. Other advantages include:
- remote account opening without providing documents;
- convenient fast transactions via a computer or phone;
- not only technical, but also legal, informational and advertising support;
- unlimited number of accounts for the client.
However, this payment system is poorly known outside the CIS countries. Therefore, not many foreign casinos and betting platforms cooperate with WebMoney.
The payment system is as famous all over the world as VISA. It allows to open a card in most banks in the world and is equally popular.
Mastercard provides three types of cards: credit, debit and prepaid. For many online casino customers, this system is the best as transactions are fast and free.
The advantages include:
- fast and easy transfer of funds;
- round-the-clock support service;
- reliable protection;
- used in most online casinos.
Maestro is a subsidiary of Mastercard. Its main feature is that the cards are used only as debit cards. This means that the client will not be able to use credit funds and will only have at his disposal the money that he has in his account at the moment.
However, not all Maestro Cards are suitable for online payments. Some online casino sites do not support such payment service. But if online payment with this card is still available, then making a deposit happens really fast.
The advantages of the Maestro plastic card are ease of use, high speed of money transactions and the presence of prepaid cards.
Click2Pay provides instant transfers and withdrawals. The system allows to make financial payments using various instruments, in particular ACH. They are highly known as error-free and reliable.
Thanks to its simplicity and fast transfers, Click2Pay is gaining popularity among online entertainment users – gamers and gamblers. In addition, customers value the service for its anonymity when making deposits at online casinos.
It is one of the most popular systems among online casino users. You can replenish your e-wallet in a variety of ways.
Qiwi offers several types of wallets – "Minimal", "Basic" and "Professional". The second one is the most optimal of them. The "Basic" status allows you to transfer up to $2700 per month and have a balance of up to $800. You can also make payments from such wallet on the websites of foreign companies.
The main disadvantage of Qiwi is that the payment system does not allow transferring or receiving money in foreign currency. This limits the possibilities of playing in foreign online casinos, but many of them still work with this service.
Yandex.Money is one of the most popular payment systems in the Russian-speaking segment of the Internet. It is a worthy competitor to the widespread WebMoney and Qiwi, and the technology allows to pay for almost any goods and services: from replenishing a mobile account to buying products from China and accepting casino payments.
You can link your e-wallet to your bank account or get a Mastercard Yandex.Money plastic card.
Just like Qiwi, Yandex.Money allows to create three account levels – Anonymous, Named, and Identified. The average gambler will be satisfied with the Named type wallet, which allows you to operate with amounts of up to $800 and carry out transactions all over the world. There are three ways to withdraw funds from such an account.
Payment systems commissions
For the option to receive and send funds, all electronic payment systems charge a commission, the amount of which varies depending on various factors. This amount consists of a transaction fee, a fixed payment and an interbank commission between several participants:
- acquiring bank;
- payment system;
- issuing bank;
- an intermediary.
If we are talking about casinos, gambling sphere belongs to the high-risk category, therefore the payment system assigns additional commissions for the risk of chargebacks.
The size of the commission depends on the category of the card, the region, the payment system used and other nuances.
There are many options for depositing and withdrawing funds available to users of modern online casinos. In such conditions, it is extremely important for operators to select popular and reliable payment systems allowing their clients to perform financial transactions. If players receive quality services in an online casino without risking losing money, they will return to the website more than once.