PayPal Holdings, Inc. was established in 2002 in the USA and developed the worldwide online payment system PayPal, which is used to conduct money transfers as it is an electronic equivalent to traditional cheques and postal giros. The company was established in 1998 with the name Confinity and merged with online bank X.com in 2000. It was renamed in 2001 as Paypal, which itself was an innovative company from Silicon Valley and now services over 200 countries, with the exception of Turkey, the Crimea, Palestine and with some limitations in other countries such as China, India and Japan. It is an acceptable form of payment at PayPal casinos.
Paypal is a Digital e-Wallet
With the objective of carrying out payments and transfers, users simply have to use their PayPal account, created with the their Email and linked to their bank card. PayPal is not a bank, but a digital e-wallet, it does not offer interest to clients for having their money deposited in their account. However, it does charge a percentage commission and a tariff, which in the case of transactions varies between 1.9% and 3.4% applied to the entity receiving the money and 2.5% and 4% in the case of the conversion of currency so PayPal charges commission to the vendor for using the platform, but not to the buyer, for depositing money in the account or for opening different accounts in distinct currencies on the platform whereas for businesses, it is also possible to open a bespoke PayPal Business account.
Currently, PayPal is beyond doubt, one of the most important digital e-Wallets on the market, competing with Neteller, Skrill (Moneybookers) and Apple Pay.
How to Obtain a PayPal Account and How to Use the Account with Online Casinos
In order to make payments via PayPal, players must first create a free PayPal account. All that is required is their first name, surname, Email address and for them to choose a password. Next, the PayPal account may be linked to bank account or bank card, by submitting their international bank account number (IBAN) or the information available on their bank card. Where the player wishes link a bank account, only one may be added but a total of eight debit or credit cards may be added. PayPal accepts MasterCard, VISA, Visa Electron, Maestro, American Express, Discover and Aurora (co-branded cards), taking into account that the cardholder should be the same person holding the PayPal account. There are limitations in respect of virtual and prepayment cards and some retailers do not accept payment with American Express, EntroPay or PaySafeCard.
Payments, purchases and transfers may be made by computer, telephone or tablet, without the need for personal or financial details, only Email and password is required. It is also possible to save money in a PayPal account or to use the available funds therein or use funds in a bank account that has been linked to the PayPal account.
In order to make a deposit into a virtual casino using PayPal, the player must access their casino user profile and add their PayPal account details, specifically, the Email and password, following the same steps to withdraw winnings, in both cases the transaction will be instantaneous. Not all virtual casinos and games platforms accept PayPal as a payment method, however, wherever it is accepted may be taken as sign that the entity is trustworthy.
PayPal Holdings, Inc online payment service is a digital e-Wallet available in over 200 countries worldwide and permits its users to make deposits and withdrawals to and from virtual casinos and games platforms instantaneously, effective and safe, as well as being able to save money in the account and or make payments and transfers from linked debit and or credit cards, a bank account linked to PayPal, all simply by using nothing more than their Email and password from their computer, telephone or tablet.