A Prepaid Banking Solution for Online Casino Players – Paysafecard
Playing games at an online casino has become a very popular way to pass the time of day for millions of people around the world. It can be done for free and require no expense. But for most the games require a certain amount of funding. To begin with there were just a couple of ways it could be done but now there are more than a few options. A recent concern for many players has been the increase in identity theft over the internet. This concern has led to a number of different companies offering anonymous forms of payment. E-wallets are one option, but another is the pre-paid card. One provider of this service is the Paysafe Group PLC and its product is the Paysafecard. There are plenty of online casinos that accept Paysafecard so let's explain what's on offer and how it all works.
Who is Paysafe and what is offered?
Paysafe GroupPLC is an Austrian company that specializes in providing a pre-paid payment system. The company hasn't existed for all that long but has very quickly become a front runner in the industry. A number of brands operate under the umbrella of the company and it is starting to corner the market. Three products carry the Paysafe name and they are the Paysafecard, My Paysafecard and the Paysafecard app for smartphone users. All three products are interconnected and essentially provide the same kind of service.
How does Paysafecard work?
It's a very simple process and all you have to do is buy a PIN from an authorized retailer for a set amount. When the time comes to make a payment and you want to use your Paysafecard you simply enter the sixteen digit PIN and the money will be transferred. Any remaining balance after a payment is made will be available for the next transaction. As many as 10 separate PINs can be used to make a payment. This is perfect if you've got several cards with small amounts as they can be combined to make a payment
The advantages of using Paysafecard
As you can appreciate, using Paysafecard is easy. There are also a number of other advantages to using this method.
- Personal details are protected
- Anonymity while online
- Safe and secure
- Identity and finances are in your control
if you'd rather not have a record on your casino expenditure on your credit or debit card then a Paysafecard online casino is the perfect option. A number of credit card companies frown on customers who use their cards at online casinos and will discriminate against them. Some issuers won't issue a credit card if there has been casino expenditure on a current account in the previous 6 months. Using a Paysafecard will avoid this kind of drama, keeping companies and people out of your personal business.
There is one big disadvantage to using Paysafecard at an online casino
There aren't too many negatives to using Paysafecard but one of the biggest is that it can't be used for making withdrawals. It's only possible to make deposits using Paysafecard and another method has to be used for taking money out of your casino account. You're advised to get in touch with the customer support service of the Paysafecard online casino you're using and ask what the procedure is. Every casino will have different terms. And this is also where anonymity flies out the window because you'll have to verify who you are before being able to make a withdrawal, for legal reasons.
What does the future hold for pre-paid cards?
An increasing number of people are turning to pre-paid cards for making payments online and the more traditional methods are rapidly slipping out of favor. Having a bank account and the costs involved are making people look for alternatives when it comes to moving money around. More brands are being acquired by the Paysafe Group and this is enabling it to offer more products. The financial world is constantly evolving and we're always looking for better and cheaper ways of making payments. The online world of gambling is also evolving and more and more people are choosing to play games online. This means that there are going to be a number of other methods introduced, but Paysafecard and the pre-paid card are definitely here to stay.
