Payment methods
Online casinos are currently gaining huge popularity. No matter where you are, virtual casinos and bookmakers are always ready to serve you. This is made possible by a wide range of payment methods that can be used by potential customers. Continue reading the article, which was prepared by the expert of our portal-Milan Rabszski, to find out:
Continue reading the article, which was prepared by the expert of our portal-Milan Rabszski, to find out:
- what are the types of payment methods;
- What are the South African payment methods;
- what are prepaid cards;
- how to choose the best payment method.
What are the types of payment methods?
Digital payments is the largest segment of the fintech market in South Africa. The total increase in the value of transactions in South Africa is more than 48% – from 17.2 million euros (81.3 million SAN) in 2019 to 25.6 million euros (121.1 million SAN) in 2022. The e-commerce market in South Africa is worth $47.8 billion, which is 1.9% of the entire European e-commerce market. All transactions take place in the only official currency in South Africa – $otówki (SAN). On average, a million dollars is sent per day.
"To play for Real Money, players must make deposits and withdrawals". Statistics show that for 2021, about 5 billion euros (24 billion SAN) went to the accounts of the South African casino. It is the largest gambling market in Eastern Europe. For comparison, the Croatian online casino for 2021 received about 350 million euros (1.6 billion SAN), or 15 times less.
South African methods
Each country has its own local, alternative payment methods. One of the main tasks in expanding our business in South Africa is to locate South African payment methods. The most popular South African payment methods are:
This is a South African bank transfer via a mobile application. "An average of 100 million transactions a year pass through BLIK".
Prepaid cards
This is a card that you can pay for various things. Using a prepaid card, you spend money and do not display your own bank account. Prepaid cards in South Africa are:
To confirm the payment process, you must provide a 16-digit code. Can be purchased at any store, the scratch card is disposable.
It is an ideal alternative to online payments without a credit card. Recharge can be purchased directly on the main page.
E-wallets
eWallets are the fastest payment method. They are designed for immediate online use and are therefore fully optimized for fast payment methods. Here are the most popular online wallets in South Africa:
E-wallet supports currencies from different countries, such as South Africa, Sweden and Hungary, so you can use this option abroad.
E-wallet allows you to receive, send and spend money through one secure trading system.
With an 8 million user base, there is a list of legal online casinos in South Africa that support this option as a payment option.
It is similar to other payment options because you can top up your account to carry out secure transactions.
Using PayPal in virtual casinos is a quick and easy way to make deposits and withdrawals from accounts without having to register a payment card.
The platform has been in existence for almost 20 years and allows customers to make financial transactions in 180 countries.
This e-wallet is one of the leaders in the payment industry in 180 countries, which supports 80 currencies.
It is considered a relatively new payment system that is available in 21 European countries.
The modern payment system supports cryptocurrencies and other fiat currencies. The electronic payment method has its own, developed application for comfortable use. The System works without commissions and hidden fees.
Instant payments
Transfers can take a long time, however quick processing is necessary to make withdrawals. There are many payment service providers that offer convenient instant payments, and the most popular of them are:
With Trustly, you can make real-time deposits and instant withdrawals through your online bank ID without having to set up an online casino account.
This is the world's most famous payment method in the "buy-now-pay-later" format, which allows you to buy an expensive product and pay for it later. Platform with a recent valuation of EUR 45.5 million (SAN 213.6 million).
Cryptocurrencies
Bitcoin and other cryptocurrencies are two of the most widely used digital currencies in the market. Many online gambling sites use cryptocurrencies. You can even receive a bonus if you register as a new user and top up your account with cryptocurrency.
Bitcoin transactions have much faster processing times and lower fees than other online payment methods because they do not use banks.
It is a cryptocurrency often considered second only to Bitcoin. Ethereum positions itself as the best alternative currency for online gambling.
Cryptocurrencies offer players autonomy and are often the preferred payment method because they are secure, fast and have no additional fees.
Other safe ways to transfer money
Alternative payment methods are already replacing popular options and taking their place in the ranking of the widespread use of internet banking. The main reason is to deposit money safely without revealing your card information.
This is a payment using a mobile network operator. This usually involves recharging the deposit by sending an SMS with the appropriate text, and the online casino will then withdraw this amount from the account.
Customers using Apple Pay can quickly pay with their iPhones, making it very easy to make purchases without worrying about security.
Many people are used to paying for things online with credit cards, which is why it is a widely accepted payment method.
The aim of PayU is to integrate existing online payment services and develop new ones, as well as to provide tools to facilitate e-commerce activities on the network.
It is a product of the National integrator Payments S. A. from Poznań, which has been on the market for 10 years and operates thousands of online stores.
The market for electronic payments in South Africa opened relatively recently, after the overthrow of communism in 1989. "Cards were accepted in places visited by foreigners (hotels, restaurants, car rentals)".
Which payment systems are the most popular in South Africa?
Nowadays, when making online transactions, Poles are much more vigilant and aware of data protection. Therefore, players need to choose the most popular and secure payment systems.
Currently, bank transfers are the most commonly used payment method in SA, accounting for 50% of all transactions. Card use is becoming more common in South Africa, as people forget about cash payments, and Mastercard and Visa are already well established.
Most internet transfers are made by women. 58% of all online transactions are made by women aged 25-34. Men do a little less shopping and send fewer online fees-42%, also aged 25-34 and 35-44 years. The most commonly chosen payment methods are bank card (50%) and BLIK (25%).
Deposit and withdrawal-transaction details
First of all, before choosing a casino to play, you should check whether it works with the payment method we use. Besides, you need to find out if you can withdraw money in the same way – some online casinos in South Africa do not allow you to withdraw winnings using the method you used to deposit money.
In this case, you need to choose the most suitable option for yourself and withdraw money to the available platform. The limits may vary on each gambling site, so before registering, you should carefully read the opinions of other players, the terms and conditions and Payment Rules.
Online casinos try to protect their customers and brand when accepting online payments. Here are the most popular examples of user data protection:
- Having two-factor authentication will secure every login and let you know if you're accessing from another device you don't know.
- Virtual casinos use this technology, allowing users to verify with a driver's license or passport.
- An SSL certificate protects your website and valuable information.
How to choose the best payment method: algorithm
One of the most important things when playing for money at casinos is to use the best payment options for transactions. What do you need to pay attention to in order to choose the best payment method?
Payment methods support
You should choose PayPal if you use a PayPal account for online banking.
Bank limits
Various online casinos ask for a smaller deposit, e.g. 1 EUR (5 SAN), while some ask for 10 EUR (50 SAN). As for the payout of the bonus, the limits can reach up to 10,000 euros (50,000 SAN).
Bonuses
Many online casinos offer players a bonus, or even the ability to significantly multiply their account balance, using the correct payment method after making a deposit.
Free transactions
Most deposits are free of charge, but various commissions may be charged when withdrawing money.
Transaction processing time
Be sure to check how long it will take to withdraw the winning amount. It can be an immediate transaction or it can take several days.
One of the most popular payment methods is BLIK. More than 150 million transactions are processed each year through this system.
Tips for players to help choose the best payment method:
- Choose the method you are using.
- Check the bank limits.
- Check if additional bonuses are available.
- Check if there is a commission for transactions.
- Check the transaction processing time.
Frequently asked questions
What Africane payment methods are not available at online casinos? Why?
Some payment methods may be available at one virtual casino while they will be blocked at another. Therefore, it is very important to check carefully before you start playing whether the online casino works with your payment method.
How to withdraw money from the casino? Which methods to use?
You must first go to the casino website and request a withdrawal to your account. Then you need to confirm the transfer, and you will see the available methods on the casino website.
How do I deposit funds to my casino account?
Just follow 5 Simple Steps:
- Log in.
- Visit the "recharge" page.
- Select your preferred payment method.
- Enter the details.
- Enter the amount you want to deposit.
- How to choose the best legal payment method at online casinos?
Always choose a payment method that is popular with most operators. Check what security measures are in place and whether this casino can be trusted.
Is it possible to use an invoice system in casinos?
You can use the invoice system to pay by invoice via your mobile device. Unfortunately, in South Africa now this system is not known or widespread.