Founded in 1998, PayPal was one of the pioneers in online payments, before it was subsequently taken over by eBay in 2002. The company obtained an official European banking license in 2007 and continues to grow at a rapid pace, with more than a hundred million users from an ever-growing amount of countries and currencies. PayPal is one of the world's largest Internet payment companies.
PayPal was established in December 1998 as Confinity. In March 2000, Confinity merged with X.com, an online banking company founded by Elon Musk. The X.com company was then renamed PayPal in 2001, and expanded rapidly throughout the year until company executives decided to take PayPal public in 2002. Just a few months after that, PayPal was acquired by eBay. PayPal became the payment method used by a majority of eBay users (and also the default choice for eBay listings).
PayPal's corporate headquarters are located in San Jose, California. Since July 2007, PayPal has operated across the European Union as a Luxembourg-based bank. The PayPal European headquarters are located in Luxembourg and the international headquarters are in Singapore.
PayPal owes its popularity to the unique idea of sending money to email addresses, but today offers many more options to receive and send payments all around the world. It operates in 202 markets and has 192 million active, registered accounts. PayPal allows customers to send, receive and hold funds in up to 25 currencies worldwide.
How to Use PayPal
The first step to transferring your funds via PayPal is for you to set up a PayPal account. This is fundamentally quite a straightforward process and can be done by registering on their official site.
To pay with PayPal, all you need to know is your email address and password, so you can forget all your card numbers and security numbers . Add a card to your PayPal account, and simply login with your email address and password whenever you're buying something online. When you use your cards to shop with PayPal they work just the same, but you don't have to enter the details every time. Just add a card to your account and pay faster and more securely from your computer or mobile.
PayPal’s existing customers can contact the payment service by typing out and sending a message on the ‘Contact PayPal’ message box provided through the official site. The site also offers the option of contacting its staff by phone if preferred. PayPal’s customer service runs from 04:00 – 22:00 (Pacific Time) on work days, and on Saturday and Sunday is available from 06:00 – 20:00 (Pacific Time). Moreover, if you prefer email, you’ll find that email support is available throughout the whole day.
On September 2015, PayPal launched their peer-to-peer payment platform "PayPal.Me," a service that allows users to send a custom link to request funds via text, email, or other messaging platforms. Custom links are set to be structured as PayPal.me/username/amountrequested. PayPal.Me was launched in 18 countries including United States, United Kingdom, Germany, Australia, Canada, Russia, Turkey, France, Italy, Spain, Poland, Sweden, Belgium, Norway, Denmark, Netherlands, Austria and Switzerland.
Withdrawing funds from your casino account works virtually the same way as depositing. Just visit the withdraw page of the casino, choose PayPal as the withdrawal method, fill in the pop-up form, and the money will arrive in your account.
PayPal does not charge a fee to open a PayPal account. It's free within the U.S. to send money to family and friends when you use your PayPal balance or bank account, or a combination of the two . There is a fee to send money as a personal payment using a debit card or credit card. The fee in the U.S. is 2.9% plus $0.30 USD of the amount you send. You can withdraw money from your PayPal account to your bank account at no cost. If you prefer to receive a check, a $1.50 fee applies.
Benefits and Limitations
There are several advantages of using this payment method in an online casino. PayPal is one of the safest ways of banking online, due to the European banking license requiring the highest levels of security. Payments are also immediately transferred to the recipient’s account, and payments made with the service are free of charge.
On the other hand, some possible disadvantages could be the need to register a new account, which takes little bit more time. Also, PayPal is still not a service widely used by many online casinos.
As of February, 2018, PayPal is accepted for gambling transactions online in the UK, Sweden, Portugal, Ireland, Greece, Portugal, Finland, Denmark, Belgium and Austria, and some even offer cashouts with PayPal. Casinos for Australian players will NOT accept PayPal, and most notably, despite recent legislation in specific states to legalize online gambling, the USA does not allow PayPal transactions either. On this page you’ll find all our reviewed casinos that accept PayPal as a payment method, so you can choose the one best for you.