PayPal is the largest global digital electronic system that allows customers to make purchases, pay bills as well as sending and receiving money orders. The payment system has been integrated into many online shops and websites, and casinos have not been left behind. There are numerous casinos that accept PayPal today which was entirely a different scenario a few years ago. Any casino games lover who wants to deposit using PayPal will have an easy time doing the same because the list of casinos is endless.
Founded in March 2000 in the United States of America by Peter Till and Maxim Levchin, PayPal was aimed at making electronic auctions much easier. As of April 2000, the company had made possible for not less than a million auctions in eBay to look and work much easier which prompted eBay to merge with it by October of the same year. Since then, the company has had one of its major subdivisions based in California, USA though it has an additional operations center in Nebraska, USA. Singapore serves as the company’s international headquarters while Luxembourg serves as its European headquarters.
As of 2012, the company was already serving in 190 different countries though not all of them were provided with the complete set of system services. At the same time, the company was serving more than 164 million customers using twenty-four different currencies. In the United States, for instance, PayPal is recognized as a fully licensed financial institution, and it is, therefore, subscribes to the laws and rules followed by other financial institutions. However, the company is not recognized as a bank because it is not involved in the deposit insurance system.
In the year 2006, the company was licensed to allow savings and loan facilities which brought a lot of debate in Australia. The following year, it got licensed to offer banking services in Luxembourg which enabled it to start offering banking services in the whole of the European Union. Combining the above-mentioned acknowledgments, it is right to say that PayPal is so far the most reliable electronic payment method in the world in terms of being secure and comfortable to use.
The best thing about PayPal is the fact that it does not charge anything to the user sending the money but rather, charges the recipient. For anyone to make payments on the internet using PayPal, one needs to open a PayPal account and fund the account using a credit card or a normal bank. However, it is important to note that because no payments are carried out from directly from the bank, no sensitive information is visible on the recipient’s end.
Making a deposit or withdrawal from an online casino is an easy thing. Once on the casino’s online page, what one needs to do is to go to the payments page and choose PayPal as the payment option. After filling out the amount needed to be transferred, a pop-up window appears with which the user can log in into the PayPal account. After following all the instructions, PayPal automatically deposits the money to the casino account instantly. When it comes to withdrawals, the process is almost similar to the latter. A user just needs to visit the withdrawal page or link, choose PayPal as the preferred method and fill in the details after which money arrives in the PayPal account within seconds.
Using PayPal as a payment and withdrawal method in a casino comes loaded with numerous benefits. First of all, the method is one of the safest. This method has a European Banking license and on top of that, it has the best services in terms of security levels. Another good thing about PayPal is the fact that it is swift. As soon as the user entrusts the payment, the needed amount is immediately transferred to the right account.
PayPal payments are completely anonymous which, therefore, does not necessitate the need to provide confidential information while making a transaction which plays a very big role in minimizing fraud risk. Another wonderful thing with this payment method is the fact that it has an easy to use platform. When it comes to the casino lover making withdrawals, PayPal is one of the most reliable methods based on the fact that one can cash in the money using various banks after just a few hours or days.
Over the past few years, a lot has changed online when matters related to online casinos and gambling becoming increasingly popular are concerned. Presently, the popularity is growing at a staggering rate which can be highly attributed to the fact that the internet has improved a lot in terms of being available to many users from different parts of the world.
A few years ago, playing games and gambling was considered as a dangerous and unwise move in many countries. However, the case is entirely different today and many countries have legalized the same using high standards of regulation to ensure that the highest standards of safety are observed.
Different with other digital wallets offering deposit and withdrawal options in online casinos, PayPal only works with online casinos that have a gambling license from the country the player making the deposit comes from. For instance, if a player is from the United States, the service will only allow a deposit if the casino is registered in the country.
This plays a very big role in making sure that the customer deposits his money in a casino that is established. PayPal has and will continue offering its top-notch services in the online casino arena as well as in other areas. Based on its ever increasing popularity and value of service, the company is only to go one way; up.