Most of us own one or more credit cards which we use to buy goods and services in retail outlets but also increasingly so online. According to Statista, in 2017 as many as 42% of global online shoppers have stated that credit cards are their preferred tool for paying via the internet.
A research on Gaming Preferences and Payment Methods executed by EcommPay states that „credit card still remains the most popular payment method and will represent 42.1% of total online payments by the end of 2019“.
The fact is we feel comfortable using these little pieces of plastic to buy all kinds of things and expect to be able to do so in the online gaming world as well.
Most casino operators oblige, giving us at the very least an option to deposit and withdraw cash via Visa and MasterCard.
Visa boasts the same vision since it first appeared in 1958: „To be the best way to pay and be paid for everyone, everywhere“. It was originally launched by Bank of America as BankAmericard, the first card with a ”revolving credit” feature. Rebranding took place in 1976, in 2007 regional businesses merged under Visa Inc, and in 2016 Visa Inc and Visa Europe reunited to form one global company.
By 2001 the company has issued 1 billion cards, and the same year they launched the Zero Liability policy to protect their cardholders from unauthorised transactions. Visa is these days accepted in over 200 countries worldwide and offers its customers a portfolio consisting of credit and debit cards, prepaid cards and gift cards.
Their multilayered approach to security is what keeps your money safe at all times. The company is on the constant watch-out for suspicious activity and will alert your bank if they spot any questionable transactions.
MasterCard is almost as old as its main competitor. In 1966 a group of banks have created the Interbank Card Association which 3 years later acquired the Master Charge name. In 1979 Master Charge was rebranded into MasterCard, and in 2002 it was integrated with Europay International and became a private share corporation which 4 years later began trading on the New York Stock Exchange. MasterCard is now available in more than 210 countries and its ATMs can be found at virtually every corner.
The company uses sophisticated tools to detect and fight fraud, chip technology makes each transaction unique and next to impossible to replicate, ID Theft Alerts searches the internet and lets you know if it finds that your personal information is being sold online, and Zero Liability Protection makes sure you will not be held accountable for purchases you didn't make.
Users can additionally activate MasterCard SecureCode with their existing accounts. This private code offers an additional layer of online shopping security and is known only to you and your bank, nobody else.
American Express is far less present on the online gaming scene but you'll still find US-facing casinos which do support it. The company dates back to 1850 though it was originally in the business of freight forwarding. In 1891 they introduced the Travelers Cheque and in 1958 launched their first charge card. Membership Rewards loyalty program saw the light of day in 1991 and a decade later became the world’s largest card-based rewards program. In 2017 Amex was accepted at more than 1.5 million places in the US.
These days the company’s portfolio consists of almost 20 different credit cards, prepaid cards and gift cards. Chip technology ensures safety of retail and online transactions and users are not held responsible for fraudulent charges. Amex Mobile app lets you manage your account from practically anywhere.
Credit cards do not only boast incredibly high security levels, they are also one of the simplest ways to make deposits and withdrawals if you are looking to gamble online. Players can use their existing cards and don't have to open additional accounts as they would with the likes of Skrill or Neteller; heading to the casino's banking section and inputting their card details gets the money transferred instantly.
Cashing out is just as easy, and once the casino processes your request, the money will normally arrive within 2 to 4 days. What's more, you'll have instant access via numerous ATMs located in your immediate surroundings. Credit cards are accepted by most online casinos out there and usually come with higher transaction limits than many of the alternatives.
One benefit Visa has over MasterCard and Amex is that if it's accepted as a deposit method, you'll always be able to use it for withdrawals. At some gaming sites players can fund their accounts via MC and Amex but will need to use an alternative method to cash out their winnings. Other than these (potential) restrictions, there are no disadvantages to speak of. Credit cards enable online players to make fast and simple transactions with a complete peace of mind.