The development of the Internet was always bound to create societal changes. We have seen many cases with e-commerce sites exiling brick-and-mortar retail stores and social media platforms like Instagram offering considerable income opportunities. Additionally, over the last few years, we have also seen the Internet lead to a boom in the use of digital payments, and there are several reasons for this. Apart from software innovations and the attractiveness of cryptocurrencies, platforms like online casinos now also accept online payment services as acceptable payment methods. Before, these platforms focused only on the traditional credit card or debit card.
In the last few years, society has collectively dropped cash, so it is a great time to learn about the different online payment methods that are out there. And so, here are three of the most popular online payment services to use in 2021.
Created in 1999, NETELLER is available in 15 languages and is owned by Paysafe Group, a global payments company based in London, United Kingdom. NETELLER is a secure and safe digital wallet that lets individuals pay online. With NETELLER, individuals can receive online payments instantly, use prepaid card services, and transfer money to over 180 countries across the world. The Financial Conduct Authority of the United Kingdom regulates the digital wallet, and NETELLER gives its users options. For instance, individuals can choose from multiple deposit options, including Bitcoin (BTC) and Bitcoin Cash (BCH). They can also spend their funds on online gaming and betting sites, including Genesis Casino in India, which offers several other online payment methods, not just NETELLER. With it becoming a notable competitor in the payment methods industry, many online casinos will look at NETELLER as a safe and secure way to process payments. After all, customers will want convenience and peace of mind when depositing their funds into their casino account.
2001 was a memorable year in the financial world, with the global economy falling into its first recession in two decades. However, it was notable for other reasons, too. That year, Skrill was established as a secure and fast digital wallet provider. Similar to NETELLER, Skrill allows individuals to transfer money to over 180 countries, including India. It is fully regulated by the U.S. Department of Treasure’s Financial Crimes Enforcement Network and the Financial Conduct Authority in the United Kingdom. Users can access their money wherever they are at any time of the day, withdraw to their personal bank accounts, and receive real-time notifications for their money transactions.
The same year the dotcom bubble burst, ecoPayz established itself as a global payment solutions provider. Throughout its 21-year lifetime, ecoPayz has provided users with an end-to-end, account—based payments, as well as card-based payments. Individuals can send, pay, and receive money in more than 50 currencies using this online payment method, which is regulated by the Financial Conduct Authority of the United Kingdom.
From 2012 to 2017, conventional cash and cards’ market share dropped to 49% from 60% globally. Online payments have become a preferred method for many individuals, whether they are purchasing retail products or spending their money on online casinos and betting sites.
It is easy to use online payment methods, and because many are improving their security and offering 2-factor authentication, the popularity of using these services is likely to continue over the next few years.