It’s not only game selection that has changed a lot since the first online casino was launched in the mid-nineties. Payment systems have also evolved dramatically. That’s shown perfectly in the example of big platforms like Pin-Up.World — a top casino where you can deposit and withdraw money using old-school and the newest payment methods like cryptos. Which works best, and how did that giant leap become even possible? Read on to find out!
Early Casino Payment Methods: Bank Transfers & Card Transactions
As we’ve mentioned, the first online casino was launched in the mid-nineties — in 1994, to be exact. At that time, there was only one way for users to make a transaction, and it’s still available today. Yes, we’re talking about bank transfers. They took more time in those days and still do today. In particular, bank transfers will likely be processed within 1-10 business days.
Debit and credit cards speed up the process. Players could use their Visas, Mastercards, and American Expresses in just a few years to get their money within 1-3 business days. We can still pay with a credit or debit card at an online casino, which will hardly change.
E-Wallets: The First Speedy Online Casino Payment Methods
A few years later, another revolution in the financial industry happened. PayPal was launched, making it much easier for users worldwide to pay for goods and services online. Of course, it took time for gambling sites to implement this method, and they succeeded. The most popular e-wallets were and remain the following:
- PayPal — designed for e-commerce but is now recognized as a quality mark in the online gambling world.
- Skrill (formerly Moneybookers) — the second oldest and most widely used e-wallet system at online casinos.
- Neteller — casinos with Neteller, another huge e-wallet system, also have a huge advantage over many competitors due to their convenience.
This method was speedy and more secure than credit card payments, as you don’t need to enter all that information that can be stolen, and it is still popular nowadays.
Play at Casino & Pay By Phone: Mobile Payment Solutions
The mobile gambling market is booming, and so are mobile payments. Google Pay and Apple Pay online casinos are considered some of the most convenient casino sites.
They are instant, safe due to biometric technology, and require no effort. However, mobile payments won’t be available in every country. If you struggle to find an Apple Pay online casino, the chance is it’s because of local regulations.
Cryptocurrencies: New Revolutionary Casino Payment Options
Blockchain technology has changed everything once again. Though even in the early 2010s, it seemed that crypto payments would never become legitimate payment methods, they are more than common today.
For instance, you can get an e-wallet and send payments directly to it, being 100% sure the transaction will be safe, instant, and untraceable. What’s the best crypto wallet for online gambling? Opinions vary greatly from Exodus to Binance. Whatever your choice is, you can deposit and withdraw your funds in Bitcoin, Litecoin, Ethereum, Dogecoin, and many other cryptocurrencies.
Instant Banking & Fintech Solutions: New No-Delay Payments
Banking methods remained quite slow even compared to e-wallets, let alone cryptocurrencies. Some interesting innovations were offered, though, and we reviewed the most widely used and popular solutions:
- Trustly. Though launched in 2008, it’s still a popular payment system. It allows gamblers to deposit money from their bank accounts without creating e-wallets, and the process is much faster when no third parties are involved.
- Open banking. This payment method also eliminates intermediaries. It lets companies, including casinos, connect with bank accounts and make a bank transfer instantly, just like a crypto transaction.
- Neosurf. Casinos that accept Neosurf have a serious advantage over competitors, and here’s why. It’s a prepaid payment method, which means you can get a voucher offline and offline, enter the code in the system, and use your account like a bank card without connecting a real card.
- Revolut and N26. These are another category of payment solutions — virtual bank accounts with virtual bank cards that can be used internationally. Such an approach speeds up transactions, and fees are lower for everyone.
So, it would be wrong to say that the online banking system has not been upgraded. Some solutions already work great, and the best is likely to come.
Final Thoughts: What the Future of Online Casino Payments Is Like
What about the future? Payments will be faster and more convenient. We can expect other alternative e-commerce payment systems and mobile wallets to be more frequently used in the gambling industry. For example, it’s not so easy to find an Amazon Pay casino now, but it can change as easily as it did with PayPal many years ago.
All top casinos now offer cryptocurrencies, but nearly all platforms are expected to do the same soon to have a decent customer base. Moreover, technology will develop further. Payments may get even safer. Some new methods of verification and payment confirmation may be offered. Who knows, perhaps, new payment solutions will be launched soon.
Still, one thing will remain the same. Customers will always appreciate the variety of payment options the casino offers and view them as a sign of quality and safety.
