Who is PayPal - a brief history
Paypal Holdings, Inc. is an American company located in San Jose, in the state of California, USA. It was founded in 1998 by Elon Musk, Ken Howery, Luke Nosek, Max Levchin, and Peter Thiel and was first known as X.com.
It was developed with the express purpose of making the world of e-commerce far more navigable for buyers and sellers. The concerns about cross border transfers were genuine, and this digital wallet solution offered a secure and fast way of making payments safe in the treacherous world of the internet.
How to sign up and use PayPal
Registering a PayPal account is a straightforward affair. You need not even register an account in some instances. If you merely want to make a payment of a one-time deposit at an online casino accepting PayPal, you can easily link your credit card to a Guest PayPal Account. However, if you want to be able to receive funds and make more periodic payments, you must register a free PayPal account.
Registration can be done at PayPal's official website, where you will click on the sign-up tab. You will be required to give some personal information and link your account to either your bank account or a debit/credit card of choice. The account will be ready to use straight away, though under restriction until the account is fully verified after a few business days. Hereafter, your limits and restrictions will be removed.
To use PayPal at an online casino, you merely go to the casino banking/payment page, select PayPal as your chosen method of payment, enter your username and password, and finally select the amount you wish to deposit. It's as easy as that!
1. Speedy Transactions
PayPal cuts down deposit and withdrawal times at online casinos by a considerable margin. Deposits are usually completed instantly to ensure that players have access to their funds without delay. Payouts from the casino to your wallet hardly ever take longer than 24 hours.
The only instance that it may take a few days to process is when you want to withdraw funds from your wallet to your bank account via bank transfer.
Players want to ensure that their funds are the safest they could be when spending on the internet. That is why e-wallets make the most sense at casinos. All of your sensitive financial and identity information is stored on an SSL multi-encrypted server that keeps your data safe from malicious fraudsters.
When transacting funds to a casino, PayPal divulges none of your details to the provider. The only info that you will need to input is your username and password.
3. Special Features
As the world's most popular e-wallet provider, you can be sure that PayPal goes the extra mile to satisfy its customers. Special features offered are convenient.
For each transfer you make, you will be awarded rewards points that will accumulate on your profile. These can be redeemed for several gifts and vouchers etc. Collect enough points, and you may even be rewarded with cashback bonuses to spend anywhere you choose.
There is also a PayPal Mastercard available for those who would like to be able to spend the funds in their wallet at any merchant displaying the Mastercard sign, whether they be land-based or online. This card comes with consumer protection that offers you purchase assurance against damaged or stolen goods within 90 days of your purchase, guaranteeing refunds up to $250.
Disadvantages of PayPal
1. Bonus Issues
It is rather unfortunate that several online casinos accept PayPal that will not honour any of their bonuses and promotions if you use the service to deposit and withdraw funds. This protects them from bonus abusers, as players are not easy to track when using e-wallets.
2. No Gambling in the USA
Though PayPal accepts USA citizens, it will not allow Americans to process or receive payments to or from online gambling facilities. This falls in accordance with US regulations against online gambling in most of their states.
3. Slow Verification Times
A PayPal account is limited to low amount transactions until all of your details are entirely verified on their system. Unfortunately, this is not known to be a quick procedure undertaken by PayPal and can take several business days to complete before you have access to the full benefit of the account.
Handy information on usage
As stated earlier in this article, limits are imposed upon spending until complete verification is done on your account. Hereafter you have hardly any ceilings when spending online.
For buyers, most of PayPal's services are free. For a full breakdown of fees imposed in various situations, be sure to visit their website.
Both registration and cancellation of accounts are free, and there are absolutely no annual administration costs. Most purchases attract no cost either, and payments to family and friends attract minimal tariffs. Any transfers done from Cards will attract a small $0.25 fee.
PayPal is available in hundreds of countries worldwide and already serves over 100 million users, making them the undisputed leader in digital e-wallet solutions. Unfortunately, as stated before, due to PayPal's strict policies involving transacting with casinos, the only premium regulated casinos worldwide offer this form of payment facility.
You will not have to search far and wide for PayPal online casinos, as we at CasinoWow have filtered the top casinos for you and placed them all on the list on this page for your convenience. For a safe and secure casino shopping experience, make use of your PayPal account at these casinos to keep you entertained.