The American company PayPal was founded in 1998 and has been dominating among the biggest and rapidly developing electronic payment systems in the world for the second decade.
This system allows users to conduct various financial operations: settle accounts, make purchases, send or receive money transfers, deposit etc. Within 2002 – 2015 period, PayPal was a part of eBay, but currently the company operates independently.
PayPal payment system operates in more than 200 countries across the world. The majority of its 200 million users are from the USA, Western Europe, China and Australia. PayPal operates with 24 national currencies.
This payment system is also available across CIS countries, but it doesn’t provide a full system function set for them.
PayPal payment system became available in Russia only in 2011, and currently money can be withdrawn only to Russian Banks accounts. Since 2013, PayPal included Russian ruble to its system.
PayPal payment system features
The common PayPal operational concept: bank account and plastic card are attached into the account while signing-up.
Registration process and account opening requires minimum time and no expense. To open a free PayPal account one should fill in a registration form, then put in necessary bank card invoice details to attach the card into the PayPal account and confirm the registration.
Special attention should be paid to the PayPal security system. Due to it, this payment system is considered to be the most reliable across the globe. All data about users and operations are secret information – users’ invoice details are only in the PayPal system and are not disclosed to third parties. A recipient knows nothing but sender identifier – the email address. To confirm its status of the most reliable company in the world, PayPal applies extremely strict security measures, decreasing fraud probability to the lowest level.
One more profitable PayPal feature is the absence of payment sending fee. Money transfers within the country are free, as well.
The online casino deposits fee is more likely to be from 0.4% to 1.5% depending on the incoming country. For transferring money from the card, the service fee is 3.4%.
PayPal payment system advantages
- Universality: this system is widely used in the whole world and is very popular among users.
- Usability and simplicity: clear interface and settings.
- Security: one of the safest systems.
- Mobility: due to mobile apps creation, PayPal led to the revolution in the payment systems world.
Online casinos with PayPal system
In the late 90s and early 2000, PayPal was the leading payment system in the online gambling field. Than transactions between players and casinos have stopped for a certain period. The company mostly has always been involved into online trading. But, currently, PayPal is becoming popular in the gambling industry again. After implementing Russian into the system, the company became popular among Russians, as well.
This payment system is used in the big and the most authoritative casinos with prestige jurisdiction licenses, such as Euro Grand, Ladbrokes, William Hill Casino, Casino.com, Europa Casino, Casino 888, Roxy Palace, Platinum Play etc.