- »Top 6 Most Popular eWallets for Online Casinos
Top 6 Most Popular eWallets for Online Casinos
There are several ways that online casino players can deposit to and withdraw from their casino accounts, the most commonly known being credit and debit cards, prepaid cards, and Bitcoin. But another very common method of payment processing online is ewallets.
Also known as a digital wallet, an ewallet is an electronic service that serves as a payment processor.
Ewallets have become immensely popular in the past several decades, coinciding with the growth of internet purchases, online services, and digital banking. And they have become one of the most common ways to deposit and withdraw funds from many of Canada’s top online casinos.
One of the reasons ewallets have become so oft used is because of the security features. Encryption and other digital protections keep information safe, unlike credit cards offered by financial institutions that have become more and more frequently victimized by hackers. Ewallets are also less time-consuming than completing long forms and paperwork for banks. They do verify a person’s identity but require much less overall information.
There are a great many ewallet services out there, though the most popular are Apple Pay, Google Pay, and PayPal, but most of those are not for online gaming. Let’s look at the ones that are available in most Canadian online casinos.
What Are The Most Popular eWallets?
1. Skrill (Formerly Moneybookers)
By far, the most popular ewallet with online casino players is Skrill. Originally known as Moneybookers, UK-based Skrill was founded in 2001 and grew to a massive presence in the world of ecommerce in just a few years.
In 2015, Paysafe Group bought Skrill, along with Neteller and others, but Skrill continues to operate as its own entity. It offers services in 40 currencies and serves people in nearly every nation of the world.
Play Amo proudly accepts deposits via Skrill. There are no fees or wait times, as deposits process instantly.
This company preceded Skrill to the world of ecommerce and made a name for itself with online poker players and casino gamblers. Neteller launched in 1999 and quickly grew into one of the most trusted emoney transfer services in the world.
Neteller was originally a Canadian company, though its headquarters are the Isle of Man. And in 2015, it was acquired by Optimal Payments, which is now Paysafe Group, along with Skrill.
The company that recently celebrated 20 years in business. It offers services in 15 languages and includes customers from around the globe.
The EcoCard platform was first launched in 2000 out of the UK and grew in popularity over the next decade by launching an iPhone app and then multi-lingual support. But ecoPayz didn’t become a part of the ewallet world until 2013.
Canadians love ecoPayz for its ease of use, its instant processing, and convenience. It is fully accredited in most major markets, and it services customers in 12 languages.
A Canadian-based company, iDebit is one of the newer ewallets in the digital banking world, but it has quickly become a favorite due to its fast approval process and instant payment confirmations.
Jackpot City was one of the first online casinos to offer the iDebit option, and there are no merchant fees charged for customers to use it. After a quick sign-up process, transactions are fast and secure.
After first launching in 2004, online casinos in Canada picked up the InstaDebit option because of its primary support for US and Canadian customers. Dollar conversions are simple and automatic for every transaction, though there is a small fee for currency risks.
Many Canadian online players use Interac, as it specifically caters to Canadian customers. There are no conversion charges or exchange fees, as all transactions are in the Canadian dollar.
While Interact, also know as debit cards to Canadians, officially launched in 1984 as a nonprofit organization, the company has grown, and the Interac company launched in early 2018 in Toronto. Most customers use Interac for its broad debit card system that offers acceptance at more than 450,000 merchant locations, its ewallet system is popular for online purchases.
Its connections with banks around Canada translate into fast payment processing. All Slots chose Interac as one of its primary options for Canadian players.