Visa & Mastercard
June 3, 2020
Visa and MasterCard are well-known names and regarded as the most flexible and trusted payment methods nowadays. They are popular due to their wide availability almost everywhere in shops and on the Internet. No wonder they are also used by online players and appreciated for their security and convenience.
How does the Method Work?
Visa and MasterCard are available in more than 200 countries, and they are called the most widespread payment methods. They provide electronic funds transfers which are fast and secure, as they are authorized by banks. It is very comfortable to use this payment system for online casinos as they are available for withdrawing winnings. Customers can use credit or debit cards. You can get money as credit, which you have to return after a set period. The terms of agreement can vary. Anyway, it does not matter what type you have, adding funds to your online account will be always easy and fast.
The CVV Number and Its Purpose.
The main purpose of the CVV (Card Verification Value) is to protect your personal data from frauds. When the payment is initiated by player, the process of transaction goes through several stages before being completed. As a verification that transaction was made by the owner, the player should provide some banking information, such as name of the card owner, its number, expiring date and the CVV numbers printed at the back. Customers are required to enter this code every time when they make a transaction as it is prohibited to store CVV numbers in the databases.
The Steps in Transaction.
At first there is an initiation of the deposit, then the authentication of the transfer. The authentication request is sent to bank through Visa’s or MasterCard’s networks. Its purpose is to ask information to verify the payment (confirmation of the card number, the billing address, the CVV number and checking if the balance has enough money for transaction). If everything is fine, the bank approves the deposit sending authorization back to the casino’s bank. The next step is taking the money from your balance. Casino’s bank sends the authorized payment information to the Visa’s and MasterCard’s network where it should be validated. Finally, the last step is the agreement for completed transaction between your bank and casino’s bank. Even though it sounds complex, this operation is normally processed immediately.
Depositing in Online Casinos.
Users can deposit instantly. It is simple. Find the Cashier page at the gambling website, select Credit cards as a preferred deposit methods from the list of available options. Then you need to enter your name, the card number, its date of expire, the CVV code and the amount of money that you want to put on your balance. If the information is correct, your transaction will be confirmed in a minute. Most online gambling operators do not charge any fees for making deposits through credit cards. However, some banks may have some fees.
Withdrawing from Online Casinos.
Withdrawals are easy — you just need to register choosing Visa or MasterCard from the withdrawal options at the casino’s Cashier page. But in some countries where online gambling is illegal there are strong restrictions and you may need to find another payment method to get your winnings. There are also recommendations. If the casino offers the MasterCard for withdrawing, you must have used the same method for depositing before. If you still have chance to get withdrawal to your Visa card, be ready to provide proof of your identification documents. The process of verification can take for a long time, but you can cancel the transaction and use alternative ways.
Visa and MasterCard are the biggest credit card world networks. They offer protection of your financial information from fraud. To ensure safety, players should choose a well-reputable online gambling site which offers SSL encryption (Secure Sockets Layer technology) that can guarantee the privacy of your personal and financial data. All credit cards have a unique number, an expiring date and CVV security code which is necessary for online transactions. In addition, you can use a special PIN code, that you also need to enter repeatedly every time when you make money transfer.
One of the biggest advantages is the security. Due to the special CVV code and the ability to use a PIN code they have high level protection of personal and financial information. Moreover, payments through these systems are always easy, instant and accessible.