PayPal Transactions in the Betting Market
Electronic payment methods have been around for quite some time, and they easily became the favorite payment method for many people. Their major features are affordability and fast money transfers. Many online businesses have become aware of the benefits of e-wallets, so they were more than happy to include different electronic payment methods as funding options. This also applies to numerous online bookmaking shops which mandatorily offer several e-wallets at least. PayPal is certainly one of the top choices on their list since they know that the big PayPal community also includes very passionate and loyal bettors.
PayPal was one of the pioneers in electronic payments and made it to world-wide fame. PayPal is known around the globe, and everyone has heard of it and its excellent services. What the major characteristics of PayPal are and why it is popular will be explained and reviewed below. Let us discuss the possibilities PayPal offers to us.
PayPal Info Check
PayPal was established in 1998, and since then, the company enables its users a simpler, faster, and safer way to pay for different services via the Internet. Users can choose how they want to pay with PayPal, so they can opt for credit card payments, bank account, or the PayPal Smart Connect method. Most importantly, PayPal does not require its users to provide financial information.
PayPal is a US company seated in San Jose, California. PayPal has more than 190 million users from 202 countries worldwide. You can make deposits and withdrawals in 25 currencies with PayPal. You may also choose the language of your preference since PayPal offers multilingual services.
PayPal’s success did not remain unnoticed, so the big electronic payment company secured several awards for its performance and service. More than 20 awards have been accredited to PayPal regarding best online financial services.
Safety and Security
As already stated, PayPal does not require you to share any financial data which already provides a safety net upon registration. Apart from that, PayPal is also registered with and supervised by the UK Financial Conduct Authority which requires the PayPal team to act according to the highest market standards whereby a great emphasis is put on transparency, honesty, and client protection. The license is in place since 2004, and PayPal users can be sure that any inconsistency would be potentially double-checked by the FCA.
As said above, PayPal is one of the safest and easiest methods for money transfers. Bettors also enjoy to deposit and withdraw via PayPal since they can access their funds almost immediately and spare themselves from tedious bank administration procedures, which would be the case with wire transfer.
Opening a PayPal account is free of charge, as well as maintaining the account. PayPal only incurs very low transaction fees which vary from 3.4% to 2.4%. You might also want to know that PayPal’s motto is the bigger the transaction, the lower the fee. Cross-border payments might be somewhat higher but not significantly.
PayPal and online bookmakers go well together which can also be seen on the many sports website where PayPal is in most cases listed as an option. PayPal has proven to be one of the best online payment services with very competitive fees, and that is why many bettors prefer PayPal over other e-wallets and alternative payment methods (credit cards and bank transfers).