Visa Electron is an effective and easy-to-use payment method is essential for using sports betting bookmakers. Debit card use has increasingly become popular nowadays. People use debit cards to pay for virtually any kind of purchase, whether it be physical or online. And of course, bookmakers have tapped onto debit cards as a convenient way to send and receive payments for bets. Of all the bank card payment, Visa electron is one of the most popular.
Visa Electron is an effective and easy-to-use payment method is essential for using sports betting bookmakers. There are lots of payment processors you can use today, and each of them has their own pros and cons.
Debit card use has increasingly become popular nowadays. People use debit cards to pay for virtually any kind of purchase, whether it be physical or online. And of course, bookmakers have tapped onto debit cards as a convenient way to send and receive payments for bets.
Punters use several kinds of debit cards today, and among these is the Visa Electron card. What is this card, why do many people use it, and how beneficial can this card be to you as a bookmaker? Read on and find out more about Visa Electron for bookmakers.
Visa Electron is a card brand accepted and used in most parts of the world. The American financial services giant Visa Inc. launched it in 1985. Furthermore, the company issues Visa Electron-branded debit and credit cards to different banks across the globe except in Ireland, Australia, Canada, and the United States. Most banks issue Visa debit cards as opposed to credit cards, though.
The card allows its users to withdraw cash from regular ATMs. It also permits withdrawals made outside the cardholder’s country of issuance through the interbank network of Visa Plus.
This Visa brand is unique from other Visa cards in that you need to have available funds in your account every time you use it to make payments. Once you’ve used up all available funds in your bank account, you cannot use your card to make payments anymore. And unlike the standard Visa Debit cards, these cards cannot be typically overdrawn.
Because of the “no overdraws” nature of Visa Electron, the card was traditionally granted to students, low-income workers, and to people with low credit scores.
Physically, Visa Electron cards sport a logo at either the upper or bottom right side of the card. Cardholder’s name, card number, and validity period are printed on the card and not embossed as with other card brands. Some Visa Electron cards may not have that dove hologram seen in other Visa-branded cards.
Here are some pros and cons you must consider before deciding if Visa Electron cards should be your preferred payment processor for sports betting activities.
Visa Electron keeps you and your money safe by requiring authentication and approval from your bank before proceeding with any payment transaction. It does so by using an authentication called Verified by Visa.
Verified by Visa is usually applicable to customers in Spain and the UK. If it is your first time to use your card, they will redirect you to a page hosted by your bank, where they will ask you to nominate a password of your choice. You will then be asked to input this password every time you make a deposit using your Visa Electron card online.
Whenever you deposit online using Visa Electron, they will ask you to input personal details on an encrypted page hosted by your bank. Your bookmaker doesn’t see the information you put in here.
The renowned financial services provider Visa Inc owns Visa Electron, so it is definitely safe and secure. For any potential security threat, you’ve noticed on your account, you can always contact their dedicated Customer Support or get in touch with the financial institution who issued your card.
It is simple, fast, and easy to use Visa Electron to top-up your betting account on your favourite online bookmaker. It’s just like paying for any other online purchase! Here’s how to do it:
Once done, you should be able to see your deposit in your betting account balance.
If you want to withdraw funds, it’s just as simple:
Withdrawals are not usually instantaneous. They may take 2-5 days or even more, depending on the bookmaker’s policies.
Here are other important points you must keep in mind when using a Visa Electron card for your sports betting activities.
To sum it all up, it is one of the most widely used payment methods for sports betting enthusiasts and bookmakers. It is easy to use, convenient, and safe – just like most other debit cards.
Visa Electron is different from Visa Debit in that it requires available funds at hand to make payments. These cards do not allow you to go overdrawn, unlike Visa Debit cards.
Nevertheless, this card is still a good choice especially if you’re fond of doing online transactions. There may be certain limitations you have to accept, though. But since lots of legitimate bookmakers still accept Visa Electron use even if countries are slowly phasing it out, you may very well give it a shot!