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iGaming Market Turned Upside Down By PrePaid Cards

  • Written by News Company

One of the biggest challenges faced by online gambling operators is providing a simple and flexible funding solution to their customers. A lot of modern payment options such as money transfers, Bitcoin and credit/debit cards are not so convenient to use when gambling online. There are cases when credit/debit cards are not accepted at certain gambling sites. As a result, gamblers become frustrated and move on to competitors leaving operators who don’t offer multiple payment options at a loss.

That’s when prepaid cards pitch in. The prepaid card is a payment card used to manage funds without getting the bank account involved. It’s a brilliant alternative to bank accounts and a very flexible way of managing one’s finances. And if you think that prepaid card has only one function, don’t be hasty. Here is a more universal example, the users of any UPayCard casino can not only use a prepaid card but can create an e-wallet account. So basically choose what payment option works best for them. Besides, using prepaid cards is safer than constantly having cash on hand. It is also secure since prepaid card transactions are protected by a PIN code. In other words, prepaid card casinos are exactly what you need if you want to make your deposits fast and safe.

Here’s a brief overview of the advantages of using prepaid cards when gambling online:

  • *  no bank account required
  • *  no applications needed
  • *  advanced security system
  • *  flexibility and multi-purposeness
  • *  swift and easy online deposits and withdrawals

The Vast List Of Prepaid Card Opportunities

Prepaid cards allow their users to make online gambling deposits easily and instantly. Most notably, prepaid cards promote discipline, which motivates its users to avoid overspending. Prepaid cards offer a great banking tool, especially for customers without proper payment history ensuring that financial inclusion is provided to the unbanked population.

Many internationally renowned banking systems issue prepaid cards including PayPal, NETELLER, Ecocard, Moneybookers. The world’s known payment technology companies such as Visa, MasterCard, American Express also allow their users to get prepaid cards. Visa, for instance, issues various types of prepaid cards. Based on the option you pick, a Visa prepaid card can be either disposable or reloadable.

Most online casinos worldwide are selling prepaid cards, granting their customers the possibility to simply go and get one. The process is exceptionally easy and will take up very little of your precious time. While taking advantage of prepaid cards, clients cannot borrow the funds and they are required to use only the amount that is transferred to their cards. Anyone can get a prepaid card, regardless of income, credit rating or whether or not one has a bank account.

Possible Usage And Leadership Position Of Prepaid Card

Aside from online casinos, prepaid cards are widely used in gifting, travel expenditure, healthcare reimbursements, payroll processing etc. The number of people who take advantage of prepaid cards is constantly increasing, since this relatively new payment method is secure, convenient, super safe while traveling, and can be used anywhere in the world. All these factors are among the major drives of the global prepaid card market growth.

The global prepaid card market is fueled by the following factors:

  • *  increase in awareness
  • *  availability
  • *  Internet-savviness
  • *  e-commerce industry growth
  • *  increase in demand for cash alternatives

These independent aspects within the global at-the-speed-of-light technical progress, have powerfully increased the adoption of prepaid cards in corporate and financial institutions, as well as in government offices.

Find major leaders on the prepaid cards market listed below:

  • Green Dot Corporation
  • NetSpend Holdings Inc
  • H&R Block Inc
  • American Express Company
  • JPMorgan Chase & Co.
  • PayPal Holdings Inc
  • BBVA Compass Bancshares Inc
  • Mango Financial Inc
  • UniRush
  • LLC
  • Kaiku Finance LLC

The prepaid card industry of today has come across multiple challenges such as maintaining the product prices competitive, promoting standardization, and enhancing consumer safety. To deal with these obstacles, the financial institutions are aiming at a straightforward Know Your Client (KYC) process, allowing reload of prepaid cards at ATMs, sorting the fees, embracing Europay, Visa, and MasterCard to eliminate scam.  

These days, major prepaid cards are using very effective ways of catering to their customer needs. Bluebird, for example, allows its clients to cash out their money from 24,000 MoneyPass ATMs as well as from Walmart checkout counters. According to the recent studies, the prepaid card market of today ($896 billion) is expected to reach $3,653 billion by 2022. In order to stay on the wave of success, prepaid card providers (along with prepaid card online casinos) should never stop evolving. Only providers with clear innovative vision and mobilized resources for technological innovations will become the strongest power players on the speedily expanding prepaid card market.

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