PayPal is probably the best-known e-wallet solution and a household name for all internet aficionados due to its early acquisition by eBay where millions of people and businesses interact and make payments every day. Founded in 1998 during the first dotcom boom period, PayPal is today part of internet giant Google and one of the leading global online payment providers. It is an e-wallet where you can either precharge funds from your bank account or card or set-up a debit from a card when you make a payment. The main advantage is that you do not have to disclose any of your banking or card details to a merchant or online casino.
An increasing number of online casinos offer PayPal as a payment method that allows for instant deposits and fast withdrawals. Transactions are processed 24/7 in real time, so you will not have to wait for the funds to appear in your casino account and can instantly start playing. Cashouts also appear instantly in your PayPal account the soon the casino has hit the send button.
You can use PayPal not just for casinos, but a wide range of online merchants covering virtually every part of our modern life. Alternatively, you can withdraw a part or all of your balance to your verified bank account. Based on country and region, it takes from a few minutes to a couple of days for the transfer to hit your bank account.
Smartphone users can download the PayPal App from Google Play for Android mobile devices or the App Store for iPhones. It allows them to send money virtually to anyone in the world as long as they have an email or mobile number. In case they do not have a PayPal account, the receivers can open one in second and use the funds to pay at merchants or withdraw them to their bank account. Sending British Pounds within the UK comes without any fees whatsoever, making it the cheapest option to transfer funds countrywide.
More recently, the e-wallet introduced Paypal Credit, a credit limit every user can apply for via a short online form. They will receive an instant decision and the exact limit granted which they can use to purchase items interest-free for up to four months if the amount is minimum £99. After the period, a competitive interest rate of 19.9% per annum is applied.
Altogether, PayPal has advanced to become a comprehensive e-wallet that offers a wide range of payment services in all areas of our lives. Naturally, that includes online casino and bookmakers as the growing number of operators accepting PayPal as a payment method shows.