Payment methods in South African casinos vary. While gambling with real money, that is an essential factor to consider. Read our review and find out more
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Online Casino Payment Methods
A common problem encountered by online casino players is the payment method. People are always careful, so they do not use an unreliable payment platform. In this article, you will learn about the different types of payment methods in South African online casinos. You will know how to choose a payment method that works well and other useful, important information that can help you. Read through to understand better the different online casino payment options.
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A Brief History
There have been times when people could not pay for products or services from a long distance because online payments did not exist. It was either you were there physically to pay, or you couldn’t even pay at all. In 2016, the importance of mobile phones grew exponentially, and over 4.8 million people in South Africa used a mobile phone. Consequently, the need for online payment systems increased.
As it is part of human nature to find solutions to a problem, companies came up with ideas to grow the mobile payment industry. An increase in the demand for an online payment service made it easier for tech startups to grow, providing satisfactory services. The major setback experienced by startups in South Africa was the expensive chargebacks merchants face and the risks of fraudulent activities through online transactions.
In 1994 the first pizza purchase occurred online, which made everybody aware of how fast and easy it was for people to buy things online. It was an excellent time for online payments companies around the world, they had solved a problem.
In 1999 mobile phones could be used to pay for online tickets in South Africa. So people didn’t have to go to the cinema and queue to get the tickets. Just a few steps on the mobile phone, and it was done. The first real money casino was introduced in 1966 by InterCasino.
The Development of Online Payment Systems
One of the most popular companies in South Africa that offer online payment services was sued for making customers vulnerable to fraud. This made South Africans afraid to put their credit card details on the internet because they couldn’t trust any company anymore.
After some years, Thomas Pays launched I-pays, which gave customers peace of mind and satisfactory service. The existence and efficiency of other online payment methods increased, and the competition in the industry grew. Online payments service is used in every industry in South Africa right now; entertainment, banking, education, and sports.
Most Common Online Casino Payment Methods
One of the biggest challenges online gamblers face is crediting their accounts safely, legally, and quickly. Online casino payment methods in South Africa cover three main categories: credit or debit cards, bank transfers (EFTs), e-wallets, and sometimes crypto. These three categories have their benefits. They have been tested and proven to be very reliable and legal by great banking institutions. Here we have mentioned some of the most common and available casino payment options:
Visa/Mastercard
Credit cards and debit cards are some of the most popular payment methods in South Africa because they are efficient and easy. Most people have at least one credit or debit card. The most popular cards in this region are Visa, Mastercard, Diners Club, and American Express. However, most online casinos only allow payment through MasterCard and Visa.
Maestro is not a common card in South Africa. Players can pick the credit card option on the casino’s site, and enter their name and 16-digit card number. It’s also essential to write down the CVV number, the amount gamblers want to put into their account, and the expiry date. Provided you have enough money on your card, your deposit will appear in your casino account immediately. Withdrawals can take over 24 hours.
Bank transfers online
Bank transfers are common online casino payment methods that have grown over the years as an option for debit or credit cards. It is a Rand (ZAR) based electronic funds transfer (EFT) payment method that serves as an intermediate between your regular bank account and your South African online casino account.
To fund your casino account through EFT, select it from the banking options and follow the instructions on the site. After selecting your bank (FNB, ABSA, Capitec, Nedbank Investec, or standard bank), you will be linked to your regular online banking profile, where you can finish your deposit or withdrawal.
Bank transfers are usually safe, easy, and credit-card-free online payment solutions. These are ideal for South African online gambling fans. Online casinos use other bank transfer methods for payment such as; SID instant EFT and internet bank transfers.
E-wallet
Examples include Skrill, Neteller, and ecoPayz. Skrill is one of the most popular of these three, and players in South Africa frequently use it. All you have to do is select any of these from the payment methods in the casino cashier and enter the amount you want to deposit into your account. You must enter your email address and password to complete the payment. Successful payments on an E-wallet will appear in your casino account immediately, which is one of its benefits. It is also very safe and legal. Examples of E-wallet include;
Skrill
It was formerly called Moneybookers. Skrill is one of the most popular and discreet electronic wallets because it is safe and secure. Its benefits are: it is fast and straightforward to use, and every online casino organization accepts it. Gamblers around the globe frequently use it.
Neteller
It started as a normal E-wallet, but now it is one of the most popular e-wallet payment methods. It is widely accepted by gamblers and is the first ‘go-to’ online casino payment method. Payments done by Neteller reflect immediately; all you need to do is select Neteller on the casino’s banking page. Then enter your Neteller ID (every player should have one) and associated email address.
EcoPayz
Ecopayz is a UK-based e-wallet that was formerly referred to as an eco card.
This payment method is widely accepted at online casinos in South Africa, nowadays. Similar to Neteller, ecoPayz is very relevant in the online gambling industry globally. This has made it trusted by many banking institutions. Players can open a free ecoPayz account, add funds to it and start using it. They have no credit options. This means you can only deposit or withdraw what you have in your account. This provides safety for players and is preferred by gamblers to other E-wallet methods.
PayPal
This is the fastest, safest, and most popular payment method in an online casino. It is used everywhere around the world by gamblers. Players can open PayPal accounts, deposit into their accounts and begin using them. Transactions made can be seen immediately, provided there is money in your account.
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Most Common Credit or Debit Cards
The most popular credit or debit cards used in South Africa are listed below:
Visa
This is one of the most preferred credit/debit cards in this region. It is a safe way to pay for things around the world. They have the right cards for any amount you want to deposit into your online casino account. And they can be used by every bank in South Africa.
Mastercard
Mastercard is one of the best credit cards that offer online payment globally. They connect billions of customers with companies that provide services. It is used frequently used by gamblers because it is reliable and safe.
American Express
This is a multinational financial services corporation. They offer reward points, cashback, and travel services. Unlike Visa and Mastercard which have processing networks but cannot issue cards, American Express can do both.
Offline Casino Payment Methods
These are some of the most common payment methods that can be used in South African land-based casinos:
E-checks
An e-check is an easy and reliable payment method. An e-check is referred to as a money transfer statement from one bank to another. Money is withdrawn from the customer’s checking account and put directly into the casino’s account. Organizations can sign up for an ACH merchant account to withdraw these payments. However, it is more effective than a paper check.
Western Union
This is an American multinational financial services company. You go to the location, write the name of the person or organization (online casino) you want to send money, and select the amount. Western Union sometimes assesses a fee, which can be up to 10 percent if the money being transferred is small. It is essential to not go beyond your credit card limit because the western union can block your account.
Bank wire transfer
This is a way of transferring funds from one person or company to another through bank transfer. It can be done from one bank account to another or through a cash transfer at an office. They take over 24 hours to clear. International transfers may take 1-5 days. Unlike checks or deposits of large sums that need around ten days to be cleared, recipients of huge bank wire transfers do not need to wait for money clearance.
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Cryptocurrencies Used as Casino Payments Methods
Cryptocurrencies have a significant effect on all industries around the world. Its impact on online gambling has grown over the years. You can play your favorite casino games and bet with bitcoin, Ethereum, and other cryptocurrencies. Online gamblers can use any of these:
Bitcoins
First of all open a cryptocurrency account, buy some coins, and choose a gambling site to play with. Then, transfer the funds into the account on the site’s banking page, select a game and be careful with the value. Opening a cryptocurrency account is the most important step if you want to pay with bitcoins in an online casino. Bitcoins can be protected in analog form. Gamblers can use paper wallets to keep bitcoins offline. This protects bitcoins from hackers or viruses.
Ethereum
Players can use Ethereum as a payment method. All you have to do is choose Ethereum as the payment method on the online casino’s banking page. Gamblers can protect this cryptocurrency like bitcoins. They allow players to have access to more features.
Other cryptocurrencies that can be used in online gambling sites are; Bitcoin Cash, Litecoin, and Monero.
Withdraw or Deposit Methods
Deposits and withdrawal methods are essential factors to consider when choosing an online casino. It helps fund your account to play with real money. Popular withdrawal or deposit methods include; Astropay, Bank Wire, Bitcoin, Click2Pay, and many more. Local methods are only accepted within South Africa and could be rejected when used outside the country. These local methods include; Simpler, Buko, and Payforit. Players need to choose which one they want to use on the casino’s gambling page. Local withdrawal or deposit methods are cheaper than popular ones.
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What to Consider When Choosing Casino Payment Methods?
Online casinos around the world use so many payment methods. However, you should consider several factors before attempting to use a payment method. Apart from the popularity of the payment method, here are five things to consider when choosing one;
- Customers’ experience: look at the experience of other players and see if they have good things to say about this method. You can see reviews on web applications and mobile applications.
- Safety and convenience: ensure that the payment method is safe and convenient to use. Make sure it is stress-free. A standard payment method should have little or no pressure.
- Customer support: every popular payment platform offers good customer service. They attend to complaints well and answer customers on time.
- Fees: players will come across three kinds of fees; monthly fees, set-up fees, and transaction fees. Ensure the fees are in line with your budget
- Multi-currency transaction: you should also ensure the payment platform allows at least two types of currency.
Of all these, the most important factor to consider is the customer experience. A customer that has good experience with the payment platform will always have something to say.
Conclusion
To sum up, payment methods are essential because this is how you get to play in online casinos with real money. This is a significant factor to consider when choosing a top South African online casino. Payment options accepted by online casinos should be fast and secure, preferably without any excess charges to the client. Don’t forget to take our tips into account and gamble responsibly.
Frequently Asked Questions
Paying online is safe when you choose the right payment service. Typically, an online service that is backed by a bank or a company that provides online banking services is safe and reliable. Furthermore, consumers can add extra security layers to online transactions
Yes. However, in some payment platforms, depositing or withdrawing is free
Bonuses are usually added to your winnings, so you can withdraw your bonuses when wagering is complete
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