New Zealand has a huge garb on gambling, and this can be widely understood by the statistical figures, which sums up to around 75%-80% of the population. Furthermore, the financial year 2020 witnessed the Kiwis buying Lotto Tickets for $631million, which is 13% higher than its past year. For the past two years, there has been an increase in investment in the iGaming industry. In 2020, the iGaming economy of New Zealand witnessed a high position in the global iGaming market.
What appears as the most significant knowledge for any customer while betting is knowing the methods of payments to keep on playing their favourite casino games. Another whim of thought they must also keep in mind is protection from frauds and suspicious activities. Following is a CasinoDeps list of the most popular payment forms for minimum deposit casinos in the New Zealand iGaming sector:
Perhaps PayPal is the most popular payment method, which can be analyzed by the daily transactions via 267 million accounts, which are active, and used on a daily basis. Right from 1998, PayPal has been in vogue, and anyone can register for free.
Customers are simply required to put their registered email id and password to lead them to the PayPal wallet, by which they can make any iGaming transactions in a fraction of seconds. There is an additional “Request payment” offer which allows any user to send a friendly reminder to their customers for their payments at a specific time.
The PayPal Buy Protection feature is responsible for protecting the privacy of the user from fraudulent and suspicious activities. It is also noted that in case any amount is wrongly deducted from the account, it gets refunded within the next working days.
Currently, PayPal is considered as one the most preferred casino payment and iGaming options, as payments are done via PayPal balance does not avail any tax for withdrawals and money transfers.
A lot of customers have voted Paysafecard, a Vienna-based global payment market system as their first preference. With their market expansion policy in New Zealand since 2015, the company has won several honourable mentions such as “Most Innovative Prepaid Solution ”, “Consumer Champion”, with over 480,000 outlets across 40 different countries.
Around 66% of the daily users have expressed their satisfaction with using the widely accepted Paysafecard, and around 25% have admitted that they have witnessed an improvement in their budget management shifting to Paysafe cards.
The main reason for a high-tech country such as New Zealand to prefer it is because it hides all the personal bank details while making payments. Hence, the application for this method to pay for iGaming is the safest. The use of a 16-digit PIN, SSL encryption protection is predominantly responsible for protecting your account. In cases of withdrawals, the designated information regarding the bank account needs to be put, along with a 2% service tax.
There has been a consecutive use of Upaycard, since it was released in 2013. Securing accounts against money loss, and hacking, Upaycard attains its license from the Financial Conduct Authority(FCA), a company that aims to protect its customers’ private details to prevent cyber-crimes or fraudulent activities.
What seems even more appealing to the young iGaming experts is the renovation and up-gradation of techniques every day. It accepts the most traded currencies in the world, for sending and receiving money.
Since 2017, Cryptocurrency is taking over the realm of payments in the iGaming industry of New Zealand. Online casinos accepting bitcoins incorporate the cryptocurrency mode of payment, which functions via blockchain technology to secure a fraud-proof environment in iGaming. Some of the most popular crypto coins include Enjin, MobileGo, Ethbet (EBET), etc.
Payments with Skrill at iGaming outlets are simply so instant and super easy for your finance. There is no hassle of card numbers or security pins, but a simple Skrill login. There is an availability of a ‘1-tap’ feature, which does not require regular re-entering of email and password.
Much like Neteller and PayPal, registration is absolutely free. It maintains a 128-bit SSL encryption for attaining maximum account protection. As soon as a customer registers themselves at a new Skrill Account, some amount of money has to be uploaded to the new Skrill account, and payments can be done with the available iGaming logo.
But a service tax of 3.99% conversion fee has to be paid every time you make payments, as well as withdrawals from overseas. It supports around 3000+ banks across the world, and customers can opt for bank transfers instantly.
It is noticed that New Zealand has been shifting its focus from direct bank transfers to e-wallets. This could possibly be the feature of two-step verification implied by most e-wallets, without the involvement of private details of the banks. It is advisable for every user to read and verify all the terms of e-wallets, or other payment methods for assuring the most suitable service they can afford, availability of account protection, and convenience of use.