The evolution of the internet coupled with the increase in the number of people spending money online has increased the need for convenience and security in making online payments. This needed security gave birth to the idea of electronic wallets. An e-wallet is a payment option which enables you to use electronic cash to make purchases and online transfer of funds via a smartphone or computer. Electronic wallets serve as virtual debit or credit card and are connected to your bank accounts. E-wallets are very simple to use and that’s why they are popular with online casinos. For example, Finnish casinos keyed into the idea of safe and secure online payment option and that is why all the best online casinos in Finland, or parhaat kasinot in Finnish, offers the option of e-wallets to its customers.
E-wallet Casino Payment
The effective services rendered by e-wallets cannot be overemphasized. The major components of e-wallets can be divided into two: information and software. The software component keeps your online personal details safe and provides secure protection by encrypting your data, while the information component has a centralized database that contain all your details such as the history of the payments made, bank account details, user’s address and name.
The Popular E-wallets
The identification of a need will always lead to the springing up of many businesses to fulfil such needs. So, just like every other sector, the need for a safer and better online payment option has led to many online payment establishments. And as regards the best casino e-wallet, there are four standout services: Neteller, PayPal, EcoPayz, Skrill and Astropay. Neteller was launched in 1999. It was formally situated in Canada but has moved its offices to the Isle of Man. One year after its establishment, Neteller was responsible for the processing over 80 percent of payments to sports betting platforms and online casinos in the world. The company has however fallen behind with stiff competition from all other e-wallet brands. But, there is no iota of doubt that Neteller is still one of the major players in the market.
Skrill is another wonderful e-wallet. This company was established in 2001 and has gone on to become one of the best in the market. Skrill operates in over 200 countries and about 40 currencies.
You can also use EcoPayz to transact your business online. It was launched in the early 2000s and has gone on to become one of the most secure payment options in the gambling industry.
The list of popular e-wallets will be incomplete if we don’t mention PayPal which is one of the leading brands when we talk about electronic payment options in the online casino world.
Creating an E-wallet Account
E-wallets users are given the opportunity to keep numerous bank account information, debit cards and credit cards for making efficient and speedy payments online. To create an e-wallet account, you will have to download or install the app of the e-wallet brand you choose and complete the relevant forms. E-wallets give you the chance to keep many card details on one account. You can also delete or edit your profiles as you want. After setting up the account, you can then use it to make payments or purchases online. To make payment online, the operator or merchant will ask for your payment details and the electronic wallet will automatically input your information and you will enter your password. Speedy and effective online payments have been made easy.
Do E-wallets Charge Extra Fees
For their services, e-wallets charge extra fees. Before opening an e-wallet, there are basically four fees which you need to be aware of. The first charge you will incur is for sent money. This charge is relatively low. Many e-wallet platforms charge as low as 1 percent while others don’t charge any fees at all. You may be charged another fee for receiving money. This charge is also usually very low, in fact, many e-wallet brands do not charge any fee on this at all, it is completely free. You can even transfer money across different countries with different conversion rates and currencies. Just ensure that you have knowledge about the exchange fee of the currency which ranges from 3% to 5%. There is also the inactivity fee, which is charged on your account if you leave it dormant for a certain period of time. This fee can be charged on the account on a yearly or monthly basis depending on the e-wallet platform. But you need not worry about being charged by online casinos for using electronic wallets because it is free to use e-wallets at online casinos.
E-wallet Casino Bonuses
It is a business custom in the world of online casinos for casino platforms to offer many lucrative bonuses to their players especially those players who have just signed to their casinos with particular payment options. For example, some casinos offer specific bonuses and promotions for PayPal transactions. Sadly, other e-wallet brands do not enjoy this same advantage. But, the fact that there is no specific e-wallet casino promotion should not discourage players from using e-wallet platforms. You will encounter numerous welcome bonuses and several other promotions at different casinos. These bonuses can be accessed by using any payment option offered by the casino. E-wallets are very reliable and secure. The security provided by e-wallets will make you unbothered about the promotions and bonuses.
E-wallet Casino Safety
One vital thing that you must consider when searching for the best casino e-wallet is the safety features of the e-wallet you want to choose and how secure the online casino is. Online casinos are currently using modern tools to protect the personal information of players. They use SSL (Secure Socket Layer) encryption to protect this information. The SSL enables secure communication between the casinos and players. Take note of the fact that the best casinos, reputable ones at that will be regulated by reliable gaming authorities like the United Kingdom Gambling Commission, Malta Gaming Authority and Curacao Gaming Authority. Any casino that has a license of these three gaming authorities are safe and you can trust such casino with your money.