Gone are the days when players had to rely on debit and credit cards in order to enjoy online gambling activities. With the emergence of digital payment solutions, including PayPal, the world of online gambling has heaved a sigh of relief.
To put it into perspective, the PayPal mobile app alone processes billions of dollars in payments around the world on a daily basis. Since its inception circa two decades ago, PayPal has secured itself as a leading online payment method provider that has high-security features and is user-friendly.
It comes as no surprise then, that businesses and companies around the world are rushing to offer PayPal as a form of doing business. One such prominent sector is the online gambling market. A PayPal casino offers a high degree of security and fast deposits and withdrawals.
So, why is it that PayPal is so much loved and sought after in the world of casinos?
Safety and security are some of the players’ main concerns when it comes to gambling online. With plenty of hacks and data breaches hitting the headlines globally on a regular basis, an increasing number of players are making sure to take all the necessary measures by opting for a safe method.
This is where PayPal comes in. When a player makes a PayPal deposit or withdrawal, they don’t need to supply their personal or financial information.
All they have to do is to simply input and log into their account using their email and password.
This ties in with the previous point. Customers no longer have to wait for days for the funds to hit their account or wait out on banking delays due to weekends. If a player wants to cash out from his or her casino account, the funds, once processed by the casino, will drop into their PayPal account immediately.
On the other hand, if you are cashing out via debit cards or bank transfers, you have to wait around for days. This is where doubts and stress arise for most players.
This is where PayPal transactive services give their competitors a run for their money.
Online casino players often like to hide their activity and would not want their casino transactions showing up on their bank transactions. Also, many players don’t want to share their financial information with the casino, which can be accessed by rogue third parties.
PayPal casinos offer an advantage to this. Transactions made by PayPal, regardless of their size, will never be shown on your bank statements.
Online casinos only have access to a very limited amount of information. The only information they have can be accessed via a two-factor authentication service provided by PayPal itself.
Although they won’t have your financial information, please bear in mind that online casinos will still require relevant documentation in order for them to process your withdrawal.
Better known as the Know your Customer (KYC) process, all players will be requested to send in proof of identity, payment method as well as address.
If you are based in countries such as the United Kingdom, online casinos start running this process from the moment you register for an account.
In conclusion, PayPal has revolutionised the way we do online dealings to some extent. You can shop for a service and have full protection by PayPal, thanks to the resolution centre. In addition to this, PayPal has a customer support team that is readily available around the clock to assist you.
With such stellar support and features, there is very little that PayPal could do wrong in our eyes.