Money in and money out is at the heart of every business and making that process as simple and reliable as possible can be key to being successful. Handling payments, delivering buyer assistance, fighting fraud, recording transactions, providing immediate access to funds and improving productivity are critical to being triumphant in the online market.
The internet has made our money far more mobile and now it is never parked in a bank vault, but is always moving and instantly available to make a purchase or be put to work somewhere else. Online purchases are booming and if a business is not able to make electronic sales, it seems unlikely that it will survive much longer. It’s relatively easy to make payments for goods and services from anywhere in the world via payment service providers, but it’s worth considering which systems are out there and which is best for you.
Considering their dependency on online currency and the vast in/out flow of money managed, it should come as no surprise that online casinos are at the forefront of online payment systems. Phenomenal improvements have been made in terms of options and accessibility, meaning that players don’t need to leave the comfort of their armchair nor spend ages talking to a robot or answering constant security questions.
A good example of the simplicity of withdrawing winnings or making deposits can be seen at bgo, where you’ll find six different methods of transferring cash into or out of your Digital Wallet. You’ll find the customary Visa, MasterCard and PayPal icons on the site, as well as the more unfamiliar Paysafecard, Neteller and Skrill. Using online prepaid payment methods like Paysafe products, online casinos such as bgo, Spin Palace Casino and Ruby Fortune are able to offer players a new option in safe online deposits and cashouts, while users can also separate their household and casino expenses.
Skrill & Neteller
Skrill and Neteller, which offer players digital wallets, are now trusted by millions of users to handle their money and a growing number of organisations are starting to cotton on to the advantages and safety of these systems. Skrill or Neteller allow users to replenish or drain their digital wallets by credit card, debit card or bank transfer and all that is required is an email address and password.
The Paysafe card
The Paysafecard is an option that enables you to buy a card at one of the 500,000 sales outlets worldwide and use it to pay online at thousands of Paysafe business partners in a range of industries, including iGaming. You buy the card from your local provider and pre-load the funds onto your card and then you can pay online by entering the 16-digit Paysafecard pin. Its simplicity and similarity to buying a phone credit voucher makes this a popular option for an increasing number of users.
The future of online payments
Smartphones have replaced a number of things we considered essential, such as alarm clocks, music players, cameras and maps. Now it seems likely that our wallets and purses are the next items to be devoured by our phones. Payment systems have been slowly morphing over time, from cash to cheques, to debit cards, credit cards and now online payment systems and mobile banking.
Whether it’s called a digital wallet, e-Wallet, virtual wallet or crypto wallet, make no mistake, they’re taking over and they’re likely to become essential property either on your phone or home computer.
As these online payment systems expand they are gradually going to incorporate loyalty and bonus schemes into the payment structure. This means no more carrying around numerous cards to ensure you get the best deal or accumulate the points you’ve earned, it will all be connected. Now is the time to consider what you require your money to do and which online payment system is right for you and soon you’ll be able to ditch the wallet.