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The Internet can be an intimidating place. One of the main problems introduced by the Internet is user security regarding money and money transfer in the new virtual world. We all love to buy products online, take advantage of various online services and, of course, play online! But what are the options you have when you wish to take part in any of these activities?
You can pay online using credit cards, debit cards, pre paid cards and the list goes on. But what are the differences between them, what are the pros and cons and what will work best for you? Read on to better understand how each payment method works and to make your choice easier.
Credit cards are by far the most popular form of online payment. About half of all online gamblers use credit cards. A credit card is different from other types of cards, such as debit cards and charge cards, in that it does not remove money from the user's account after every transaction and does not require the balance to be paid in full each month. Instead, credit cards lend money to the consumer, with the option of "revolving" their balance, at the cost of having interest charged.
A digital wallet or E-Wallet, serves as wallet for online purchases. Registering for a digital wallet requires minimal setup and is quite easy to use. Once the software is installed, the user begins by entering all the relevant information. The account is password protected and prevents unauthorized users from viewing your personal information stored on a particular computer.
There are several digital wallets that have become very popular and are accepted by most online casinos:
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Neteller: A well known digital wallet. Many online casinos offer large bonuses for players using Neteller. It is friendly, easy to use and signing up for an account is free. It is accepted by virtually all online gambling sites and is considered safe.
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Moneybooker: Moneybookers is one of the biggest online-payment services in the world. The UK-based company, as a security measure limits transfers received by accounts to thousands of dollars or Euros.
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ClickandBuy: ClickandBuy is one of the popular e-wallets out there. Besides many gambling sites, you can use ClickandBuy for various services at companies such as Apple iTunes, Skype, msn and others.
Debit cards are very much like credit cards, however their functionality are similar to writing a check, since the money is withdrawn directly from the cardholder's bank account.
Online debit cards require electronic authorization of every transaction and the debits are instantly reflected in the user’s account.
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Visa Debit: Visa Debit is a worldwide popular debit card, used especially in the UK. Electronic authorization, enabled by either a signature or personal identification number (PIN), is required for each transaction.
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Maestro: Maestro is MasterCard's international debit card service. The cards are linked to the cardholder's current account and each transaction is authorized by the card owner with a personal PIN code.
Prepaid credit cards offer a convenient way to control credit card debt while still enjoying the flexibility of plastic. By using prepaid cards you can control exactly how much money you are willing to allow yourself to spend, which also makes it is a safe method of payment.
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Ukash: Ukash vouchers can be purchased in many stores across Europe and it is especially popular in the UK. Each Ukash voucher purchased has its own unique 19-digit code, which enhances security much like PIN codes in debit cards.
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PaySafe: PaySafe was the first ever Secure Electronic Payment System for Credit Cards over the Internet in the world. Security is guaranteed since your PIN code and password are confidential and transactions take place on the secure PaySafe server.
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