Different Modes of Payments at Online Casinos

The development of the internet made life easier and more convenient for a great number of people. However, the internet can also intimidate people, as internet security is always considered vulnerable to threats. People transact money and use the internet for other money related transactions using the world wide web. Many people have found the convenience of online shopping, the use of various online services, and have learned to play online gambling.

There are now so many online casino sites and people get confused with all the options they offer. Browsers looking for information will find banner ads appearing on their screen and clicking them will take them to an online gambling homepage. The more popular online gambling sites are 888.com, Golden Palace, Party Poker, Carbon Poker, VIP Slots and many others.

Before you can gamble online, you have to pay for the privileges. Payments can be in the form of debit cards, credit cards, pre paid cards and many other forms of payment are being offered. There are basic differences between various forms of online payment and each has advantages and disadvantages. To know which payment option is best suited for your needs, you have to study their distinct differences.

Credit Card

The most familiar and common form of making online payments is through credit cards. The use of credit cards is the most convenient form of payment because the user is not forced to pay the whole amount at the end of each month. Credit card payments are considered safe, as the most reputed online casinos use TLS/SSL meaning Transport Layer Security in their payment schemes. The Card number is provided in code form so that clients are protected from fraudulent activities. In case of fraud, the credit card companies can be asked to reimburse the fraudulent charges. There are various credit card companies like Diners Club, Visa, Mastercard.

Debit Cards

Debit cards also known as bank card are similar to except that debit cards are like checks, providing the cardholder access to his/her bank account. Some cards have a specified amount of stored value, where payment is charged against, while some just relay a message to the bank to withdraw funds. Unlike credit cards, the payments from a debit card are withdrawn immediately from the account, while with credit cards the bearer pay back at a later day, usually at the end of the succeeding month. Some cards are exclusively for internet purchases where there is no need for the physical card, just numbers and PIN codes to punch. The use of debit cards for online transactions require electronic authorization for every transaction. Some debit card companies are Visa International, Mastercard Maestro, Global Cash Card, Chase Bank, and MBNA.

Prepaid cards

A prepaid card is a payment card much like a gift card specially targeted for teens. It is pre-loaded with money and can be used for online payments. It is the same as credit cards but without the credit line as it only has a maximum amount loaded; so it effectively control credit card debts with the flexibility of plastic card payments. It has Chip and Pin capability and reloadable. Prepaid cars have different fees and pricing structures. Examples of prepaid cards are Master Card, Maestro, Visa Electron, Amex, Paysafe and Ukash.

There are now many other forms of making payments for internet transactions like Postal or Money Orders and Cheques, which are traditional forms of payment which can take time. Paypal and Alert Pay are other ways of Online Payments. There are other new online payment schemes that are trying to make a niche and get recognized.