PayPal Is Still The King In Online Payments But Till When?

PayPal online payments articleOver the years, we have seen many different types of payment methods appearing on our favourite online casinos. PayPal is one that has been very popular since its introduction due to its convenience and safety that comes with it. Of course, this is not the only payment method that is offered online with alternative options like Skrill, Neteller and other online wallets becoming more popular. Here, we are going to discuss why PayPal is king and of online payments as well as looking at alternative methods. Keep reading to find out more.

PayPal

If you have never heard of PayPal before you would be interested to know that it is a free service that anyone can take advantage of as long as they have funds to support, it. With PayPal, you enter your bank details and then use the PayPal portal as a safe way to transfer funds to online merchants, casinos or friends. PayPal is very common for mobile casino players due to how quickly payments can go through and the safety aspect.

You’ll find that many online casinos use the fact that they have PayPal as a payment option to attract new players. This is because they recognise that players enjoy using this service. This shows that PayPal is still one of the strongest payment methods and players enjoy the fact that it hassle-free.

Neteller

PayPal is no longer the only online wallet that people are taking advantage of to deposit funds on online casinos. Neteller is a popular payment method that comes with an app to make depositing money a lot easier. This is a payment method that has the potential to take over from PayPal in being the king of online payments due to its accessibility.

With Neteller, signing up is really easy and you can control how much you spend by depositing money into your account. Many online casinos are offering this service as they know that Neteller is safe and secure for both them and the players. Neteller boasts having over 24 million account holders around the world so look out for this to grow even more.

Pay by Phone

You might have already heard of pay by phone which is becoming a much more popular payment method for many online casino players around the world. Pay by phone works using the phone bill of the player who will be invoiced each month with details of their deposits. Players love using this method because they don’t need to enter many details about their account which could risk their security.

With Pay by phone, everything is easy to set up and make deposits with. Despite the fact that this payment method comes with many advantages it is not clear if it will take over from PayPal. This is because of the disadvantages including players spending more money than they can afford. Could pay by phone take over despite these disadvantages?

Cryptocurrencies

If you haven’t heard of cryptocurrencies, then you must have been living under a rock as these have been becoming more and more popular over the past few years. Cryptocurrencies like Bitcoin are a new type of payment method which only a small number of online casinos are using, however, this is set to become a lot more popular soon. As more players understand how these methods work, they are expected to start looking for casinos that offer them.

There are many benefits to using bitcoin including the preservation of coins and the lower risk of theft. These advantages appeal to players and we expect bitcoin and other cryptocurrencies to start making a play for PayPal’s title of the most popular payment method.

Final Verdict

It is unclear which payment method will be the king of online casinos this time next year, but it is possible that PayPal will be knocked off the top spot. Look out for options like Bitcoin and pay by phone becoming stronger this year as players start to try out more options.