Why are Casino Payment Methods Important?
When any online casino site begins accepting payments from Indian players, in all its various forms, it isn’t just about having the best, sleekest and most natural checkout process. It’s all about the fact that these casinos will be handling sensitive payment data and players personal information in regards to their banking practices.
This means that any online business will be subject to essential and specific rules and regulations from various entities. Giving all casino sites and betting portals the responsibility to navigate the varied requirements that affect their online casino payments acceptance programs.
Some of the most popular casino payment options for deposits and withdrawals are:
- Debit Cards
- Credit Cards
- Prepaid Cards
- Bank transfer – Internet banking
- Phone Bill Payment
- Western Union
The ways to transfer money to make a deposit and withdrawal such as debit card, credit card and prepaid card can be different for casino players. Many online payment services are only available in some countries. Online gambling has different rules around the world and payment methods might be affected.
It is essential to check these specifics before entering any details; the sites should be using high SSL encryption programs and the best firewall technologies to ensure all data is kept safe and away from adverse third parties.
Different Online Payment Options Available
Deciding on the correct choice when it comes to online casino payments can be a big and important decision. Yet there are a few options that you can take under consideration before making your choice.
An essential fact that you’ll need to keep in mind is that you’ll only be able to make withdrawals with the same banking option that you made your deposit with.
Banking Methods India
There are the traditional payment methods which are pretty standard to all India casino sites as well as any site which requires an online payment of some kind. These are the big international banking moguls like Visa and MasterCard, and occasionally American Express.
Also, a large percentage are still conducted using the go-to method of Bank Transfers from local and regional banks. These will typically cover the likes of a Maestro Card, Visa Debit, and Visa Electron linked to a high street or mainstream brach, depending on the location.
Online Payments & Third-Party Providers
Another popular casino payment method, which is gaining popularity as time goes on in India, is using e-wallets for all online purchases. There are hundreds of these style of companies now available online.
However, there is a slight difference in some providers next to others available for online casino payments. So this is a crucial point to remember before committing any data or transfers to casinos.
First of all, anyone intending to use an e-wallet must first know how the money is to be managed. This fact will affect the choices available to individuals. Let’s breakdown the differences between the different operational modules making things a bit easier to understand.
E-wallets in India
Probably the first to mention and be the one most widely known to the public is the third party e-wallet provider. To explain the process as simple as possible, the payment processor is the chosen company that handles the transactions between the two parties.
These are the seller and the customer. The transaction is accomplished by the payment processor relaying the payment information to the seller, like the credit card or bank information from the customer to the sellers preferred bank account. Go through the casinos range of popular payment options to start your online gambling.
This is a chargeable service, so the third-party payment processor will add a nominal amount on to the agreed figure to transfer. It’s typically a tiny percentage of the transferable amount or low minimum payment, whichever is the greatest. This will be their fee for paying the seller on the user’s behalf.
Perhaps the one that jumps to mind instantly will be PayPal, who is an American company, which operates as a global online payments system owned by another strong global brand known to many, eBay. The dynamics behind PayPal is an easy one to understand.
The company will pay an amount to a provider for reasons of many like shopping is a popular one, and also funding online casinos accounts with a deposit to play casino games.
This is only possible if the user has a PayPal account which is linked to a valid bank account with sufficient funds available. If no funds are present, then the transaction will not be completed. Easy to use, easy to understand and accessible as an app.
Moneybookers – Skrill & Neteller
Another popular online service is the e-wallet that acts as a bank essentially. Neteller India and Skrill India are such two operators like this. They are available in several currencies and have a vast experience in casino payments.
You create an account with suppling a nominated bank account to be linked for transfers to and from. Mobile payments are quick and easy with top security, using one of these options.
However, the main difference is that if there is no money in the e-wallet account, then no transaction can not go ahead or be completed until this is rectified, even if there is a full bank account attached.
There have to be sufficient funds available in the online account, to begin with. This will then be taken automatically from the sourced bank account.
More E-wallet providers in India
- Globepay App
- IO Net Banking
These all provide a service related to the methods mentioned above. However, each will have its terms and conditions, so please read through these carefully as to not face complications at a later time. Do not take for granted that all operate precisely the same, as this is usually not the case. Better to be safer, rather than sorry.
Prepaid Online Payments
Then there is a payment option like Paysafecard. Now, this method is becoming increasingly more popular in India as it requires no personal information or banking data from its users to complete an online payment.
All transaction are anonymous and can only be traced by a 16 digit code that can not be linked or traced to any individual.
An utterly private transaction method online. Paysafecard is a form of an online prepaid payment method. This is based and fuelled on Paysafecard vouchers where customers can purchase these card vouchers at many local sales outlets.
To make a payment online using this method, first, a card needs to be to hand, then using the individual 16-digit PIN code located on the map needs to be entered at the checkout stage of the respective website payment process.
Cryptocurrencies for Casino
Lastly, another rising star and payment option is the many forms of cryptocurrencies, like the more widely recognised Bitcoin. All casino cryptocurrencies are a digital currency only available online. This is a decentralised system of storing funds which are total public, and all records and transactions made globally are recorded in a distributed ledger called a blockchain.
Some form of the crypto wallet is needed to hold and keep track of an individual’s bitcoins amounts and value. Like other payment options, there have to be sufficient funds in the users account to complete any transaction. Handily, cryptocurrencies can be easily moved between friends and acquaintances if more are needed last minute.
Whichever online payment method that is chosen, to complete any casino account transactions or online payment. CasinoCaptain.com wants all users to be safe at all times and protect all their personal information and banking details. Be careful with your account details as well as your credit card number if you use bank wire or credit debit cards as your payment service.
Users must be careful in any situation where data is required online to proceed in any transaction. Play safe, quick and responsibly at all time. Also, keep in mind there can be processing fees and withdrawal limits for you as a casino player.
Do not use credit cards as your preferred payment option for an online casino if you struggle to control your gambling. In that case payment methods such as debit cards to make payments. Only make deposits to an online casino for the money you know you can afford.