Online casinos have flourished in India during the pandemic. Government-imposed regulations, social distancing protocols, and lockdowns meant people had to seek alternative ways to entertain themselves at home. Therefore, many turned to online casinos to blow off some steam. Online casinos differ from land-based casinos because they offer players various casino payment methods. Providing gamblers with numerous payment methods is beneficial for online casinos and players. Different payment methods provide flexibility to players. In addition, it invites more players to play on a specific online casino using their desired payment method. Let’s take a look at some of the most popular payment methods Indian online casinos are using today.
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What Is the Best Payment Method in India?
Here are the most common payment methods most Indian online casinos accept. They include:
UPI – Best Payment Method
UPI is an abbreviation for United Payments Interface. The National Payments Corporation of India (NPCI) developed UPI in 2016. UPI consolidates numerous payment methods into a single application. Therefore, you can use this interface to transfer money from various sources. UPI became a hit with online casino players because it enabled them to pay via Indian Rupees. However, UPI has some limitations. For instance, UPI acceptance outside of India is minimal. Since UPI is monitored and audited by the government, it is one of the safest online payment methods. Therefore, when making a transaction at an online casino, you want to use the safest method available.
Many players still use bank transfers to make deposits at online Indian casinos. You can deposit money instantly using a bank transfer. However, withdrawals often take longer. In some instances, you’ll have to wait for seven business days for your withdrawals to process. Regardless, there are several reasons bank transfers remain popular. For starters, nearly all online Indian casino sites accept them as a payment method. In addition, banks typically have stringent security protocols to protect their customers. These security measures make Netbanking bank transfers one of the most secure payment methods for online gambling.
PayTM differs from most other payments methods. That’s because it includes a gaming platform within the application. You can use PayTM to gamble without accessing other online casino sites. However, that doesn’t mean you can’t use PayTM on other websites. Many recognizable Indian online casinos accept PayTM. You can use the platform for deposits and withdrawals at your preferred online casino.
PayTM also distinguishes itself from competitors by offering players cashback prizes. You can get these cashback awards by extensively using the PayTM application. In addition, PayTM enables people to earn cashback prizes. They can do this not only through gambling but also via shopping and other purchases. Therefore, you can derive significant value from PayTM.
Unfortunately, PayTM doesn’t have the same acceptance as other payment methods. In addition, numerous issues regarding security concerns have persisted.
Google initially launched Google Pay as Android Pay in 2015. Since then, it rebranded the product to Google Pay. The service makes online payments straightforward for anyone with an Android device. Google Pay functions as an electronic wallet. You can transfer money into your Google Pay using bank transfers, credit cards, and debit cards. One of the advantages the service holds is it allows players to make quick and easy transactions. Since Google is a globally recognized brand, you can also pay using Google Pay in offshore online casinos.
Most gamblers like Google Pay because the service allows instant deposits. Meanwhile, you can usually withdraw money from your Google Pay account within an hour. Google Pay is also highly secure. You can use biometric identification for your Google Pay account. Therefore, if you’re concerned about security, Google Pay might be the best payment method for you.
Similar to UPI, PhonePe is a mobile payments interface too. It incorporates or mobile billing apps on the PhonePe platform. When you set up your PhonePe account for mobile payments, you link up your online bank account. Therefore, when you make a deposit at an online casino, then PhonePe transfers money from your bank account through the interface to the website requesting payment.
RuPay & Credit Cards
RuPay has been operating since 2012 and provides players with a card payment system. RuPay’s connection with the NPCI means it’s linked to all banks within India. You can use prepaid, debit, and credit cards with your RuPay account. RuPay is renowned for its security services. In addition, it’s also accepted worldwide, making it a popular payment system for most players. Unfortunately, withdrawals can take up to seven working days. In addition, you can’t make withdrawals using prepaid cards.
You’ll find that some Indian online casinos also accept Bitcoin as a payment method. Some players like to use Bitcoin because it’s a highly secure payment method. Additionally, it enables players to make transactions quickly. However, Bitcoin acceptance still isn’t widespread. Moreover, Bitcoin’s high volatility makes some users hesitant to use it.
Selecting the Best Payment Method
Selecting the ideal payment method is easier said than done. You’ll have to look at numerous factors before picking the best payment method for your needs. Start by choosing a widely accepted payment method. Ensure that it has minimal transaction charges and fast processing times. Moreover, look to protect your security at all times by selecting a highly secure payment method.
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