How E-wallets are Dominating the Casino Payments Scene in Canada

Taking one look at online banking is enough to witness the staggering increase in the popularity of digital payments globally, and many are only now noticing the high demand for e-wallets at online casinos. Although available for over two decades, many still see them as something new and innovative. For Canadian gamblers, they are not an option but a must-have.

Well-established casinos in Canada tend to offer dozens of digital wallets, so it is natural to wonder what the appeal of this payment method is. Find the answers in our article.

Fast and Convenient 24/7

Traditional payment methods such as banking cards and bank wire have been around for a century, so why did the players make a switch? The answer lies in the fact that, albeit safe and reliable, classic payment methods are painfully slow, especially when put into the context of the 21st century.

An average online casino will process an e-wallet withdrawal in 3 business days, while it may need 5 for banking cards or even 7 for bank wire. Then, the money may take extra time to reach the end user. For e-wallets, we are talking minutes, but for more conservative payments, it is days.

On top of that, they are incredibly convenient. It takes no more than a few taps on the phone screen to top up and enjoy games.

Advanced Security Features

Compared against all casino payment alternatives, such as cryptos, e-wallets have more transparency and enhanced customer protection. While cryptos tend to be safe from the technical point of view, e-wallets are methods with enhanced safety features players can not only understand but also benefit from..

The so-called insurance protection programs help players when they make mistakes and sign up with fraudulent brands. Furthermore, all worthwhile digital wallets implement advanced technologies such as two-factor authentication to keep users’ money out of reach by any malevolent parties.

In other words, cryptos grant safe transactions but have close to no customer protection. E-wallets have both, which is a benefit both online casinos and Canadian gamblers recognize.

The Most Popular E-Wallets in Canada

The industry’s latest casinos, as well as those that have been around for ages, compete on which brand will include the most e-wallets that cater to the specific needs of Canadian gamblers. Here are the most popular options:

Paypal: The most popular e-wallet in Canada, was also one of the first on the market. It was revolutionary for its time, and nowadays functions as a crossover between an e-wallet and an online bank;
Skrill: The Canadian branch of the worldwide e-wallet offers players online payments, as well as a debit card they can use at any ATM or with vendors that accept debit cards;
Payz: Formerly known as EcoPayz, Payz is popular due to its smooth mobile payments, flexibility, low fees and user-friendly interface;
Neteller: Skrill’s sister company is just as popular, with an attractive loyalty scheme.

Canadian gamblers now have more alternatives than ever before, making it more straightforward and more affordable for them to manage their payments.