Established in the year of 2000 by Maxim Levchin, a Ukrainian expat, and Peter Till, a savvy businessman in charge of X.com payment processor, the company emerged as a result of integration with Levchin’s Confinity. Initially, the founding fathers were aiming at servicing the market of online auctions, and the endeavor resulted in a success: the newly-fledged business has managed to spread its coverage across 1ml+ eBay auctions. With an inherent hunger for potentially profitable directions, eBay, the US largest retail platform, acquired the PayPal at the dawn of its becoming in the year of 2002. The company offers various sets of its services to 190 nations and boasts a 170 million army of users.
Full compliance principle lies in the core of the establishment: therefore, the company will launch its services only once all the legal issues are settled. The US branch of the business has acquired the status of a financial institution, it is fully eligible to be engaged in money transfer activities. Being a financial institution in the States means the corporation falls under the tough jurisdiction applicable to the organizations of such kind (regular audits, extremely high penalties in case of violations, cooperation with federal establishments and involvement into various programs and etc.). However, PayPal is not treated as a bank, since it is not tied with DIS (Deposit Insurance System).
Taking into account the aspiration to meet rigid rules and laws, signing up an account with PayPal is almost a guarantee of safe and absolutely legal transactions – not only the millions of dollars spent on acquiring a proper license, but also a close monitoring by the governmental structures guarantee the safety and confidence in the future healthy system functioning. Thus, you can be sure that if the casino supports PayPal, it is almost a guarantee of decent quality.
PayPal: submitting an account instantly
An individual must set up an account and pass a number of verification stages before an access to a full-fledged account is granted. All the payments within the system are made through a secure and encrypted connection – the user fills in credentials fields (login and password). In general, setting up a PayPal account is always a walk in the park as long as you meet the requirements of the system: an email (preferably with a decent services provider that utilizes advanced protection technologies) and a bank card. Actually, PayPal accepts both debit and credit cards; however, check whether your card is ready for digital payments. The credit/debit card will be assigned to your PayPal account – the system will charge around $2 (or Euro, depending on the region) and return the amount once the registration and confirmation process is complete.
PayPal: instant deposits & unparalleled speed of transactions
Once the verification procedure is accomplished, a replenishing feature will be unlocked, meaning you can take advantage of all the PayPal benefits: now you can use your account to play in an online casino that supports the payment method. PayPal provides a nice opportunity for operations with cash – pick up the right method that suits you perfectly: bank account, PayPal account, credit card account and a bunch of other handy options.
All the transactions are processed via a secure and encrypted channel through PayPal official website, which in turns ensures a marvelous processing speed and fraud risks reaching a zero level. Withdrawing funds from a casino via PayPal is typically possible upon request (though, you should definitely check the casino rules and get acquainted with money hold terms). Be advised that an average casino will set limits on the depositing and withdrawal amounts – the nature of restrictions and limits depends on the geographic region as well as the status of the account.
Actually, there are dozens of casino establishments accepting PayPal, and using the account for gambling purposes is as easy as in case you are shopping online.