For anyone alive before the proliferation of the internet, it still seems crazy to believe that we live in an era where we can exchange invisible electronic payments from the computers in our pockets without ever having to touch cash, a card, or even sign our names.
The transition from cash and cheques to the clunky machines that would take a physical print of your bank card, to the slick online operations we enjoy today has been spectacularly fast. The huge number of emerging online industries, including online gaming, really drove the need for safe and reliable online payment systems for users who wanted to conduct their business online.
Online retailers and service providers that offer multiple payment methods appreciate the advantage they have when it comes to customers who have a strong preference for a specific way of paying. Players can find casinos and online gaming sites that suit their needs without having to compromise, so choosing a well-regulated site with a variety of payment methods is easier than ever before so PayPal casinos are rapidly gaining traction.
PayPal
Although online banking is a relatively new concept, and the idea of an online-only payment provider still seems quite modern, PayPal is one of the oldest financial technology companies around. While existing banks were trying to adapt their offerings to suit an online world, PayPal was born out of the need for a ‘universal’ payment method that individuals could use online.
PayPal was acquired by eBay in 2002 after proving to be a superior system to eBay’s own payment system, BillPoint. The adoption of new technology gave banks and other financial institutions the means to distinguish themselves from one another by offering their customers the most convenient payment methods, and PayPal had already developed a system that was user-friendly and popular with online shoppers.
As online businesses grew and more people were turning to virtual shops and services, awareness of potential security problems increased. Even early adopters were concerned about being fleeced by disreputable online traders, and PayPal provided a really appealing way for both retailers and customers to enjoy added protection when transacting online.
Why do gamers prefer PayPal?
Age and reputation – the fact that PayPal is one of the most established online financial services does give it some advantage in terms of brand recognition, which is particularly important when moving money online. Many people who were using eBay in its early days will have opened PayPal accounts back then and still use them, so for some gamers, it’s a preference that stems from familiarity and convenience.
Security – using PayPal on a website means that you are limiting the amount of data you share with that site as you are allowing PayPal to act as a third party between you and a potentially unknown business. While it is always best to research a site before using it, at least if you checkout using PayPal, you have the protection of their terms and conditions if anything goes wrong,
Customer Service – PayPal has an international reputation for its easy, convenient, and secure customer service systems that offer users significant protection against online scams and fraud. Users can be sure that they are not exposing themselves to any undue risk when they use PayPal, and the ability to log into their account and easily see the payment details makes it even easier to keep your money safe.
Convenience – many gamers use a number of different sites, downloading content from some and uploading payment to others. Being able to manage all those payments from a single account and keep track of where every penny goes can be hugely helpful, so sites offering a choice of payment methods make that process even easier.
Flexibility – PayPal is an international bank that allows users to make payments in a choice of currencies and to accounts in countries all over the world. As an increasingly global industry, gamers enjoy content from all over the world, so being able to make payments quickly and easily in the local currency is a huge time-saver, and users can also opt to spread payments for some more expensive items which is also a bonus.
Transparency – PayPal’s transaction fees and exchange rates are easily accessible and users are given all the details they need whenever they undertake a payment or transfer. Sites that use PayPal often allow users to conduct all their payment business from within the PayPal app to make it even easier to keep track of the money and see the details of each payment.
The early days of the internet might have felt a bit like a virtual Wild West, with rogue sites collecting payment information and minimal security, but that has all changed now. Even the most risk-averse players can’t resist the sheer variety of online games available, and with reliable payment methods, players can click with confidence.