Playing in casinos are fun and not a waste of time in any way. You get to enjoy a nice round of quality, competitive yet fast games. The joy is multiplied if it is a live casino. You get to enjoy the ambiance.
With that, the increasing immersive gaming experience that online casinos are bringing allows you to play games with your friends. By with, we mean you can see their avatar, text them in-game, taunt them, and everything.
You know it, as we know it, the fun gets really real, and you only get serious when there’s money involved. That is the reason online casinos are getting so popular in Malaysia.
However, confusion amongst us still persists. Is it secure to transfer money to the e-wallet? Will my bank receive the money if I cash out? Well, for that, we have dived in-depth about the online payment gateways like help2pay.
We look at each of the best payment service providers’ features, how it works, and how it secures your payments.
Online Payment Gateways
Let me first give you a brief idea of what a payment gateway is!
Suppose someone wants to borrow some money from you, but you do not know them, or maybe you do know them, but they are far away from you. So, what do you need in both circumstances? A middle person! If you do not know them, you need a known or reputed person to be the guarantor and ensure a safe exchange of money.
On the other hand, if you want to give your distant friend some money, you ask someone you know who lives close to them to lend the cash while ensuring to pay the money to the lender.
Payment gateways do precisely this. They provide a secure environment to exchange transaction information between parties while acting as the guarantor for both. A bank does not have the time to verify millions of online platforms. Instead, they partner with a gateway system. Many banks also happen to have their own gateways.
However, third parties tend to support more platforms and ever-improving facilities, like keeping money in their e-wallet for future transactions. Now, not all casino gamblers and online gateways are partners. So, we take a microscopic look at those who provide services to the top casinos.
5 Best Online Payment gateways for Online Casinos in Malaysia
Help2Pay, founded in 2013, has risen to be a leading online payment gateway service provider in Southeast Asia. They have operations in Thailand, Indonesia, and Vietnam, alongside Malaysia.
The gateway supports each of these countries’ local currencies, i.e., Thai Baht (THB), Indonesian Rupiah (IDR), Malaysian Ringgit (MYR), and Vietnamese Dong (VND) with the US Dollars, of course.
Help2pay uses the e-wallet system to secure transactions. That is, online casinos do not need to collect your information. Instead, upon a client’s request, help2pay communicates with the client’s bank for verification.
If the information is correct, it collects the money and stores them in the site’s e-wallet in the client’s name. One more thing that Help2Pay checks for security purposes are that the wallet’s name on the online gambling site is precisely the same as on the bank account.
8 banks are currently partnered up with Help2pay in Malaysia. These are AmBank Group, CIMB Bank, Public Bank, Bank Islam Malaysia, Hong Leong Bank, RHB Bank, Bank Simpanan Nasional (BSN), and Maybank.
The biggest reason you should trust iPay88 is that it is backed by the reputed giant NTT Data of Japan. In 2015, the leading IT company acquired iPay88. Since then, the online payment gateway service provider has made strides in functionalities, marketing and has even introduced its own knowledge-sharing platform, iPay88 Academy.
Through NTT Data, iPay88 has connections in 13 countries, including Malaysia, Japan, Thailand, India, Vietnam, Bangladesh, Singapore, Indonesia, Cambodia, and more. For security, iPay88 has a 3D-Secure layer for OTP verification and is compliant with PCI-DSS level 1. The online casino payment gateway is also equipped with an anti-fraud system, ZipSecure.
Neteller has evolved into a global giant offering its services for more than a decade. It has operations in over 200 countries, and its yearly transactions go well above billions of dollars. There’s no reason to doubt Neteller as it is a publicly-traded company on the London Stock Exchange. Also, it is licensed by the FCA for issuing digital currency!
As for working with Neteller, there’s a small catch as opposed to Help2pay and iPay88 since you have to open an account with Neteller itself. Registration is free and pretty straightforward. Be assured that they have one of the most robust anti-fraud verification systems.
Fun fact, both Neteller and Skrill are operated by the same company, Paysafe Financial Services Limited. Paysafe is also verified by the FCA to regulate money online so, Skrill is also as trustworthy as Neteller. Skrill uses SSL Secure Socket Layer (SSL) like every other best online payment gateways with 128-bit encryption. VeriSign, the pioneer, has verified Skrill.
Skrill started its service back in 2001 as a specialized gambling gateway, and now it even lends money to customers. Just like Neteller, you need to open an account with Skrill to use it.
EcoPayz also offers e-wallet management like Neteller and Skrill, though it has not expanded as much as them. They charge varying fees according to your medium of transaction, i.e., card, bank, or WesternUnion.
Sending and receiving money through WesternUnion is free. EcoPayz stands different from others through offering cards with the e-wallet! EcoPayz uses 256-bit SSL encryption for the most secured layer of transactions and has a strict anti-fraud system in place.
Transaction through an e-wallet is more convenient than transferring money from the bank each time you run out of chips in the online casino amid competitive gambling. This way, you can also set boundaries and set aside your gambling money from the main account.
With the world-class security, each of these online payment gateways provides, rest assured, your details will remain safe and secret through them. Look for the likes of their logos, like that of Help2pay or others.