PayPal vs. Paysafecard

Players are often in a bind when deciding between PayPal and Paysafecard as an online casino payment method. Both of these methods are incredibly popular in the online gambling scene, bringing a slew of perks to enhance the overall gaming experience. Since they’re supported by pretty much all gambling venues, it can be hard to choose one. Their global availability makes them go-to’s for players worldwide, and the convenience of using them often trumps the benefits other local options have to offer. If you’re one of the many online casino fans debating between these options, we’ll try and help you come to a decision. Hopefully, we can help answer one important question – Why use PayPal or PaysafeCard across online casinos?

About PayPal and Paysafecard

PayPal and Paysafecard are easily two of the most popular payment options in the online casino space at the moment. The main reason for this is evident. They’re well-established and widely available, making them a convenient choice for players no matter where they are in the world. Another reason for their growing popularity in the online gambling space is a result of people’s heightened need for privacy. Unlike bank cards, these methods don’t require players to share any personal information with the operator they choose. They grant people anonymity, a commodity that can be hard to find these days. Despite their common characteristics, these methods are very different from each other. Further in this text, we’ll see how.

Most people are familiar with PayPal. The financial service is well-known in all corners of the globe, and with good reason! Launched in 1998, it took the world by storm. The reason for PayPal’s whopping success was due to the market demand for a service of its type. Back then, eWallets were much, much rarer than they are today. People needed a service that didn’t require sharing personal banking details when transacting online, and this payment option met that need tenfold! Combined with the top-notch security it offered and the convenience of supporting popular payment methods, the eWallet was an instant hit with online shoppers.

Through the years, the company tried its hand at several different products, but the eWallet remained their biggest success. While many competitors, such as Neteller, Skrill, and MuchBetter popped in the coming years, PayPal managed to keep its throne. It’s not hard to guess why PayPal remained most people’s first choice. Not only was it well-established at this point, but it also offered incredible security and break-neck processing speeds! Players knew they could rely on the service to keep them safe, so they kept using it long after eWallets became the norm.

Just because the service was leading the pack, it didn’t mean it became complacent. Over time, PayPal collaborated with big names like MasterCard to enhance its offer. Thanks to this partnership, users were free to use both their eWallet and subsequent card for all sorts of purchases! It later launched services such as PayPal connect, and it’s even made the jump to crypto by adding a digital currency processing feature! As you can imagine, that last addition was a big boost to the method’s popularity. If you’re a crypto fan, you can Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and several other cryptocurrencies for various transactions directly through your eWallet!

Now that you’ve peeked at PayPal’s history, it’s easy to see why it’s such a beloved option in the online casino space. The easy access, quick transactions, and various payment solutions make it a convenient method that works perfectly for both operators and players!

The other payment method we want to talk about in this text is Paysafecard. Launched in 2000 by the well-established Paysafe Group, the service quickly gained a massive following. The reason for the prepaid card’s wild success is pretty simple. Since the early 2000s marked a rise in online shopping, people needed a safe way to transact in the online space. Unfortunately, scams and other shady dealing were pretty common at the time, which is why the anonymity of Paysafe was appreciated by so many users!

Naturally, the service was much more than just a protective barrier to keep private information secure. It offered a convenient way to transact, excellent processing speed, and reasonable fees! Combined with the success of other financial services by the company, Paysafecard improved immensely, learning from the experience of its sister-products Skrill and Neteller. Not too long after its initial success, the service spread throughout Europe like Wildfire! It became a go-to online payment option in countries like Germany, Switzerland, Greece, the Netherlands, and many more! As expected, it later went global, establishing a loyal user base in Canada, the US, Mexico, Turkey, and other countries.

Paysafecard might be best-known for the prepaid card service, but it offers a variety of products that can be used for all kinds of online transactions. On top of the prepaid card, they include an eWallet service and a PaysafeCreditCard. The eWallet dubbed MyPaysafecard is an excellent alternative for players who want to connect their service to a variety of other payment options. The credit card is a collaboration between Paysafe and MasterCard, and it acts just like any other traditional bank card.

Getting Started with the Two Methods

Getting started with PayPal requires some effort, but not too much compared to other payment options. To create an account with the service, you’ll need to either visit the PayPal official website or download the dedicated mobile app. Once you do so, click the sign-up button and fill out the registration form with your details. These can include your phone number, address, email, and more. Since the service takes security very seriously, you’ll also need to verify your identity. To do this, you’ll have to submit valid identification documents, such as a government-issued ID or passport.

Once your account is set up and verified, it’s time to connect your new eWallet with a source of funds. The good news is, most payment options are valid, so you can add your bank card to the system without an issue! It’s worth noting that different payment methods incur different fees. If you use a bank transfer, you should incur no fees. If you use a credit card, you’ll be charged a 2.5% fee! Before choosing a preferred way to fund your eWallet, make sure to check out the fees attached to it.

Since there are multiple routes you can take with Paysafe, things are a bit more complex. Most users will go the traditional prepaid card route, which isn’t usually too much effort. To obtain a prepaid Paysafecard voucher, you can visit a local reseller or look for one online. Choose one in the amount that fits your budget, and you’re done! The denominations for these cards are $10, $30, $50, $100, $150, and $250, so you have plenty of options. If you’re worried about currency conversion fees, you’ll be happy to learn that these prepaid vouchers come in various currencies too. They include the US dollar, Canadian dollar, euro, UK pound, and a few cryptocurrencies!

Another option with Paysafe is setting up a MyPaysafecard. Since this option functions similarly to an eWallet, it can be more work than usual. Essentially, it requires creating an account using your personal information and funding your card through several different means. While needing to use an additional payment method to fund your card can be annoying in the start, the convenience that follows after is often worth the trouble.

Lastly, you can apply for a Paysafecard Mastercard. Unlike the previous Paysafe options, this one is far more old-school. The partnership with MasterCard means that you’ll need to visit a qualifying bank or financial institution to get one. Once you find a match, you’ll need to fill out an application form with your personal information and provide proof of identity. A government-issued ID or passport should do the trick, but sometimes, additional documentation can be requested. Once you’ve submitted everything, you’ll need to wait a few days for the bank to approve the application and issue the card. When it’s finished, head back to the bank to pick up your card or have it delivered to you by mail.

Something you should keep in mind when using Paysafe options is that they come with additional security in the form of a 16-digit PIN code. You’ll need this code to deposit in the online gambling venues of your choice, so keep it handy just in case.

Using PayPal and Paysafecard Across Online Casinos

PayPal and Paysafecard are two incredibly popular payment options. As such, they’re available across hundreds of online casinos, giving players a wide selection of premium venues to choose from! With options like these readily available, all that’s left for you to do is set up an account and start playing through your preferred payment method!

Funding your online casino ventures with PayPal is pretty easy. Here are the steps you need to follow:

1. Look for PayPal’s logo in the list of Payment Methods/Deposit Methods on the casino’s Cashier/Banking page. 
2. Click or tap on it, and a new pop-up window will appear. 
3. Log into your eWallet account using your credentials. 
4. Enter the amount you’d like to deposit at the casino. 
5. Once authentication is complete, confirm your transaction. 
6. As soon as you’ve confirmed it, the money will instantly arrive on your casino balance. 

Withdrawing with PayPal isn’t all that different from depositing. It follows the same steps as listed above, with a few minor adjustments. Something to note about PayPal’s cashout process is that it’s one of the fastest you’ll find! Since the service is an eWallet, most withdrawals are instant. As soon as you confirm the transaction, things are on the move! Of course, this can also depend on the casino’s processing time, so keep that in mind before requesting a withdrawal.

Since there are several Paysafecard options available to players, we’ll cover how to use each one for online gambling purposes. We’ll start with the most popular of the three available – the Paysafeprepaid card:

1. Check out the operator’s Payments/Banking/Cashier page
2. Search for the Paysafe logo among the other payment options
3. Choose the prepaid card option and enter the required 16-digit code
4. Confirm the transaction and wait a bit for the money to arrive.

Up next, we have the MyPaysafecard option as the second most popular of the bunch:

1. Visit the operator’s Payments/Banking/Cashier page
2. Find the Paysafe logo on the list of supported payment options
3. Enter the required account information
4. Enter the amount you wish to deposit
5. Proceed with the transfer and wait for the money to arrive on your balance.

The last Paysafe option on this list is the Paysafe MasterCard. Since this is essentially a bank card, it follows the traditional procedure you’d expect from using credit and debit cards:

1. Visit the casino’s Payments/Banking/Cashier page. 
2. Look for the MasterCard logo on the list of accepted methods and click or tap on it. 
3. In the new window, enter the card’s number, expiry date, and the CCV2 number, if needed, and specify your name as the cardholder. 
4. Specify the amount of money you’d like to deposit.
5. Accept the transaction, and the money will arrive on your account balance right away.

Withdrawals with Paysafe are tricky. Since the alternatives for this method veer into different territory we’ll focus on an answer to the question – Can I withdraw using the Paysafe prepaid card? Unfortunately, the answer is no. Since it is a prepaid card, withdrawing is impossible. Players will need to add a new method to their account for this purpose. If you want to keep things in the Paysafe family, we suggest using methods like Neteller and Skrill as alternatives.

Advantages and Disadvantages

You’re now packed with enough information to decide which one of these methods is a better fit for you. If you’re still finding the process a bit too complicated, we’ll try to ease the burden by summarizing the key pros and cons of both methods below.

The thing that gives both of these options tons of power in the online casino space is their reach. Since PayPal and Paysafecard are used for all kinds of transactions in the online world constantly, they’ve grown to become staples in the online casino space. They’re viable options in most gambling venues, giving people the freedom to make safe and reliable payments at all times. What’s better, they’re both available globally! These methods cover dozens of territories across the globe, so you can use them whenever, wherever!

Of course, these payment services aren’t without fault. With PayPal, the biggest issue comes from the transaction fees. While they might not seem too bad on their own, compared to some of its competitors, they’re in the higher range. If you’re trying to make the most of your gambling budget, these fees can put a bit of a damper on that plan.

The biggest issue with using Paysafecard is the lack of a withdrawal option. Sure, you can remedy this by adding an alternative withdrawal option to your account, but the inconvenience of needing to use multiple payment services can be a deal-breaker.

In the grand scheme of things, both of these methods are worth checking out! While there might be a few setbacks to using them, what you gain is often worth the trouble. Review each aspect of these respective payment services carefully and see which one works best in your favor!