What are E-Wallets?

money and credit cards on a table

Digital wallets are electronic devices enabling individuals to purchase or fund online casino accounts via desktops or smartphones. They allow users to fund their accounts by linking their bank accounts to their e-wallet accounts.

Digital wallets or e-wallets have contributed to a transformation in the way online purchases can be made. E-wallet services such as Skrill, Neteller, Payoneer, and ecoPayz can be used to make timely payments via smartphone apps.

Why We Recommend Others To Use E-Wallets

The biggest advantages of using an e-wallet are safety, convenience, ease of use and the ability to fund ewallet accounts at any time. The fact that you can fund your account as you need it is a flexibility that not many services are able to offer. This is a huge advantage over debit and credit cards. The added removal of not having to worry about overspending through the use of credit card purchases is also a reason to recommend ewallets over more traditional purchasing methods.

A wide variety of brick and mortar stores, online merchants, and online casinos accept ewallets. As an added level of security, when processing purchases through an ewallet you will find a number of steps in place to ensure proper verification of the account holder, and this further protected by both the merchant and ewallet using security software that ensures all transactions are encrypted and secure. The process is simple and requires entering an OTP (one time password) sent to your mobile, and once keyed in, the payment is processed.

What To Focus On When Selecting an e-Wallet Service Provider

E-commerce sales just passed an annual one-trillion-dollar mark. That’s why it is not hard to see why service providers are competing for new users. All the users benefit from the competing of providers since the comparison of fees plays an important part in the process undertaken when selecting an ewallet service.
In selecting the perfect ewallet service for our personal use, several factors were part of the decision-making process. The areas we focused attention towards were global presence, regulatory and security policies, fraud protection, customer service and fees.

Selecting ewallets such as ecoPayz, Neteller, and Skrill not only offers insurance based on their reputations for trustworthiness but allows the ability to make transactions with merchants located worldwide. Security remains the most important factor and the latest security techniques such as 256-bit AES encryption used by ewallets ensure that your information is protected. Electronic wallets also feature a password generator, and this is an added security benefit, especially if you are one that prefers to use multiple passwords. Add in the fact that most ewallets offer a robust management system to identify fraud, and the level of security simply cannot be matched.

What To Avoid When Choosing an Electronic Wallet

Be sure to avoid ewallets that charge extra for using their services. In the same time you have to understand that costs do occur when transactions are processed. When using Skrill, Neteller, and ecoPayz, we have found fees are a small percentage of the total costs, and when considering the flexibility and safety these provide us as a consumer, it is a small price to pay.

E-Wallet Perks

There are multiple perks when it comes to using an ewallet. These include storing your financial and personal details in an encrypted storage medium that enables you to fund your online casino account or make online purchases in a fast and convenient manner, safety, security, and ease of use.

While there are many other advantages, such as many offering prepaid debit cards for those who may have a positive balance and wish to access funds via ATM’s, the overall convenience factor is what sees us continuing to use ewallets, and that is one that for us as a consumers, holds a lot of value.