Google+
 

eWallets and Virtual Cards

ewallet

eWallet

When picking an online casino to join there are more than a few factors which should go into the mix to help you pick the one that’s best for you.  The most important ones are the reputation and trust involved with the casino, the range of games (slot machines in our case) and of course the types of bonuses available for new and existing players.

What should not be overlooked is the methods of payments available for new sign ups though; you don’t want to spend time settling on a seemingly great casino just to find there are no deposit methods which suit your needs.  If yours are specific (maybe you only want to use one method) then it might be better to check that first before sifting through the other factors.

In this article we’re going to explain what an eWallet is and how it can be a safe and convenient way to deposit money at a wide variety of online retailers and not just casinos.  There is a school of thought that eWallets may well become the predominant payment method eventually, not just online but for purchases at bricks and mortar stores so we’d better explain how they work.

An eWallet (or Digital Wallet) can be viewed as an electronic file where the user can store as many pieces of information as they wish.  So at the most basic level it can act as an online fund into which the user deposits money and at a more complex level it can act as storage for a wide variety of personal documents such as driving licenses, store loyalty cards and anything that may validate an customers ID.

This latter is becoming more important because the eWallet can then be used to authenticate a user and provide proof of age; this is important if a customer is looking to buy age-related products.

The real point of an eWallet or Digital Wallet is that it’s a safe and convenient way to perform financial transactions online and increasingly offline.  Once the account with the eWallet provider is setup, no longer does the user have to enter all the address/credit card details familiar to anyone making purchases online, the participating website will accept an ID and password and that’s all that’s needed – the eWallet provides the rest of the information.

With the emergence of smartphones, the eWallet has been given added mobility and this means that where possible, the phone can be used to pay for items in participating bricks and mortar shops.  Japan is a good example of how this idea has been embraced.  eWallet’s are funded via the normal methods – credit cards, bank transfer, pre-payment cards – and are well worth a look if you think it would benefit you.

Virtual Cards

A Virtual Card is somewhat similar to an eWallet but it’s essentially a virtual debit card which you can use to pay for products and services online.  It’s more limited than an eWallet in that there’s no facility to store details other than those necessary to pay for items.

Also similar to a debit card, there is no capacity for credit – you top it up and when it’s run out you can no longer use it until you add more funds.  This is handy if you like a daily or weekly limit to your spending.

Comments are closed, but trackbacks and pingbacks are open.