There’s no need to stress the importance of online payment in 2020. Slowly, we’re headed towards a cashless society and most of the developed countries have various payment methods that allow their citizens to rarely use cash. In today’s article, we are going to look at some of the payment methods that were not specifically created for the entertainment business but proved so good that were immediately adopted by online casinos and sportsbooks. Even if you’re not a big fan of the subject, you’ll still find valuable information on how these payment options work and the interesting story that made them go-to methods for people that want to gamble or bet online.
Kicking off our list of payment methods that were immediately adopted by the iGaming industry with a unique story. EPS stands for Electronic Payment Standard and it is a payment option developed by the Austrian authorities together with the main banks in the country so that Austrians are able to easily pay their taxes and fines in complete safety and without fees. However, the payment option that resulted proved to be so good that many businesses started to use it and offer it for various payments. Offering instant payments with no fees and being supported by all the local banks, EPS quickly found its way to online casinos and sports betting websites in the country. The story of EPS is unique because it wasn’t developed with the idea of making it a mass-use payment option, however, it turned out to be so efficient and secure that it reached that level anyway.
Neosurf is a voucher that allows Australians to pay for various services online. The voucher can be bought with cash from various points of sale, including gas stations, stores, and even postal offices and it was supposed to come as an alternative for PaysafeCard that wasn’t that easy to find in the country. However, nobody expected Neosutf to reach such a level of popularity and become one of the most used payment options in Australia. With the ability to buy voucher codes online, Neosurf boomed and Aussies turn to this payment option for increased security and not having to share their credit card details. It’s the same attributes of Neosurf that saw the payment option have a great career in the iGaming industry. Whenever they play at a Neosurf casino, players know that they can make 100% safe and anonymous deposits without having to worry about the entities that they share the credit card details with. Despite not being available for withdrawals, Neosurf is one of the preferred payment options for online gambling in Australia, up there with e-wallets such as Neteller and Skrill or bank transfer apps like POLi.
The story of Interac is somehow like what EPS did in Austria. The system was initially designed for inter-bank transactions and transfers. However, at some point, the banks involved decided to make the system available for their customers as well to facilitate transfers between them and cut down the processing time. To their surprise, users were so impressed by the transfer speed that Interac offered that they wanted to be able to use it for other payments as well. So, the banks worked together to come up with a system that would work for all their customers and Interac became one of the most used payment options in Canada. Allowing instant bank transfers and lots of other payment methods, Interac does not only hold a special spot in terms of popularity among Canadian citizens, but it’s also a big player in the online gambling and betting industry as well. Most online casinos offer it and the ones focusing on the Canadian market without being able to also offer Interac have a difficult time keeping players.