The advent of the internet has yielded some of the most convenient, effective, and safe ways for consumers and businesses to exchange funds. A few years ago, online credit card payment was the most popular method used across the board. These days, the growth of payment methods such as e-wallets and Interac can be seen in the world of online shopping, travel, and other entertainment niches like gambling. The ease, and safety, of using e-wallets have quickly turned the credit card into an antiquated method that many customers are sure to never return to.
Interac was created in 1984 and is a Canadian FSP (financial services provider) that has been designed to cater to the specific needs of the Canadian consumer. Interac has enjoyed ongoing success in the country, with 8 out of 10 Canadians stating that they have made use of the payment method before. The company has grown significantly since its advent and now offers a vast range of services such as Interac Cash, Interac Debit, Interac Flash, Interac e-Transfers, and Interac Online. There are many benefits of Interac, especially for Canadian players. Besides the ease of use, customers will be privy to the services just by entering bank account details once they’ve selected the correct Interac payment method. Interac is currently one of the most trusted and established payment processing providers in Canada, which does not require personal or sensitive information, with all transactions being processed in Canadian Dollars. After finding the suitable Interac casino depositing into online casino gaming accounts is processed almost instantly. However, it is worth noting that the withdrawal time frame is a bit longer, taking 3-5 business days.
While Interac is designed specifically for Canadian customers, PayPal has become popular on a more global scale. Over the last few years, PayPal has managed to enjoy such ongoing success that it is considered to be one of the most popular payment methods in the world. PayPal offers its customers a hassle-free method to deposit or withdraw funds, with online casino players favouring it due to its quick payouts. The benefits of choosing PayPal as a primary payment method to fund online casino gaming are numerous. Firstly, almost all online casinos have adjusted their payment options to include PayPal. Secondly, banking and card details all get stored in one place which adds a layer of necessary security. Players and customers who choose to use PayPal have noted that the most attractive aspect of this e-wallet facility is the quick turnaround times for transactions. Deposits into gaming accounts are reflected almost instantly but similarly to Interac, PayPal users are instructed to wait a few days for deposits to reflect in their accounts, with a time frame between 1-3 business days.
MuchBetter is an e-wallet service provider that has been authorized by the FCA (Financial Conduct Authority) in the UK. As such, MuchBetter has undergone rigorous audits to ensure that the rights of consumers are protected and that the financial company is controlled by regulators. MuchBetter might not be as popular as PayPal and Interac are due to the long list of restricted countries, but it is accepted in Canada. One of the perks of MuchBetter is that there are no restrictions on the e-wallet account that could hinder online casino players. Satisfied customers have also stated that the services are easy to make use of, with the sign-up process taking less than five minutes. Account maintenance is free which means that players can enjoy the perks of the service without incurring extra costs. MuchBetter currently makes use of several security methods to ensure that private and sensitive information stays that way. User accounts are protected by cutting-edge technologies such as touch identification, revolving security codes, and device pairing permissions. However, withdrawals from gaming accounts could be a bit tricky as the minimum balance required for withdrawal via wire transfer is $250, with a rate of $50 + 2% for each transaction.
One thing is for sure, the list above is just a compilation of the most popular e-wallets options available today, which means that there is likely an e-wallet out there for everyone. Regardless of the pros and cons highlighted above, Canadian players should be making decisions based on the payment methods that suit their needs, and budgets, accordingly to ensure they have safe and hassle-free fun.