About Online Payments
Introduction, Credit Cards, Debit Cards and EFT:
Today, an increasing number of financial transactions may be performed over the internet. Everything from purchasing a book to renewing your TV licence or post office box and paying a traffic fine can now be undertaken from the comfort and convenience of a home PC.
In the examples cited, the most frequently used methods of payment would a credit or debit card or an electronic funds transfer (EFT); methods with which most people today are already reasonably familiar.
Other Options at Online Casinos:
Online gambling, particularly where conducted at venues located offshore from the account holder’s country of residence, may give rise to the need for alternative payment methods. Such methods must be secure and able to conduct transactions both to and from the player’s country of residence and that of the online gambling operation. They may also need to handle transactions in a variety of currencies. To meet these demands, a new range of secure payment procedures has emerged. It includes e-Wallets, e-Cheques, prepaid cards or vouchers and dedicated online debit cards.
Use and Security Aspects:
In each of these methods, the need to reveal ones personal and financial details is either confined to a trusted intermediary on a once off basis or eliminated altogether, alleviating players’ fears that their credit card or identity details may be compromised if entered online.
Digital wallets or e-wallets act like real wallets storing cash for use when needed. Depending upon the brand, they may be topped-up from sources such as a personal bank account, a credit or debit card or, even a paper cheque. In addition to the cash balance, the wallets also store personal information that may be accessed privately by a service provider such as an online casino without the need to present it on the screen.
E-Cheques are generated electronically through a bank and act much like paper cheques in that they are subject to clearance periods that could amount to several days and delay the completion of a transaction.
Prepaid cards and vouchers are sold in fixed denominations and have a unique reference number which must be entered when using them to make payments. Because they are purchased for cash, the seller requires no identification. Online debit cards may be topped up as required by a variety of means and are accessed using a PIN number when making a deposit or withdrawal.
Associated Costs:
Most secure payment methods carry some transaction charge and may be subject to minimum values so it is important to familiarise oneself with their terms and condition of use.
Today, an increasing number of financial transactions may be performed over the internet. Everything from purchasing a book to renewing your TV licence or post office box and paying a traffic fine can now be undertaken from the comfort and convenience of a home PC.
In the examples cited, the most frequently used methods of payment would a credit or debit card or an electronic funds transfer (EFT); methods with which most people today are already reasonably familiar.
Other Options at Online Casinos:
Online gambling, particularly where conducted at venues located offshore from the account holder’s country of residence, may give rise to the need for alternative payment methods. Such methods must be secure and able to conduct transactions both to and from the player’s country of residence and that of the online gambling operation. They may also need to handle transactions in a variety of currencies. To meet these demands, a new range of secure payment procedures has emerged. It includes e-Wallets, e-Cheques, prepaid cards or vouchers and dedicated online debit cards.
Use and Security Aspects:
In each of these methods, the need to reveal ones personal and financial details is either confined to a trusted intermediary on a once off basis or eliminated altogether, alleviating players’ fears that their credit card or identity details may be compromised if entered online.
Digital wallets or e-wallets act like real wallets storing cash for use when needed. Depending upon the brand, they may be topped-up from sources such as a personal bank account, a credit or debit card or, even a paper cheque. In addition to the cash balance, the wallets also store personal information that may be accessed privately by a service provider such as an online casino without the need to present it on the screen.
E-Cheques are generated electronically through a bank and act much like paper cheques in that they are subject to clearance periods that could amount to several days and delay the completion of a transaction.
Prepaid cards and vouchers are sold in fixed denominations and have a unique reference number which must be entered when using them to make payments. Because they are purchased for cash, the seller requires no identification. Online debit cards may be topped up as required by a variety of means and are accessed using a PIN number when making a deposit or withdrawal.
Associated Costs:
Most secure payment methods carry some transaction charge and may be subject to minimum values so it is important to familiarise oneself with their terms and condition of use.