PayPal! Is there a more popular and used online payment method in the world? In recent years, this payment solution has become a global leader in online payment with more than 203 million accounts worldwide. PayPal is available in over 200 countries and 24 currencies globally, enabling global commerce by making payments possible across different currencies, languages, and geographical locations.
While traditional payment methods such as debit and credit cards are still used in online casinos, PayPal deposits are increasingly becoming the most popular way of funding accounts. There are various benefits of choosing PayPal Casinos over those that don’t allow this payment method. Perhaps the biggest advantage is security and privacy, as personal information is shared once rather than innumerable times any time a transaction is made.
PayPal allows you to make deposits and withdrawals in any way you’d prefer, be it bank accounts, credit cards, account balances, or PayPal Smart Connect without sharing your sensitive personal data. As you’d guess, there are many other benefits of using PayPal, including affordable transaction fees, quick set-up and integration, and global usage to name a few. However, this page is solely dedicated to showing why PayPal casino sites offers better security compared to other commonly used banking methods at web casinos.
No Sharing of Sensitive Information
One of the biggest advantages of using PayPal is privacy as personal information is not shared to any other party other than PayPal. It’s only necessary to enter information such as personal details and banking details at the point you create an account with PayPal. After that, you’ll simply need to key in your email and password every time you fund your online casino account.
With other payment solutions, that information can be transmitted across all other networks involved in the transaction, from you to the casino, to credit card processor. This comes as an advantage because not all casino sites are trustworthy or secure enough to protect your financial information. Sometimes this info could end up in the wrong hands, risking fraud, identity theft, or getting your account balance swept!
End-to-end encryption is very crucial in helping keep your personal info and PayPal transactions secure. PayPal employs the best encryption transaction to ensure all transactions between you PayPal and the casino are safeguarded by advanced encryption and firewall technologies. In doing this, the company uses a repertoire of tools that are in the forefront of security solutions.
First, PayPal uses a tool called TLS Connection, an industry standard for trusted communication channels that allows information to be transmitted across various channels in a secure manner. When you register and log into PayPal, the company ensures that you’re connecting with TLS 1.0 or higher using HTTPS connections only. Allowing these connections helps in reducing your susceptibility to either active or passive attacks.
Second, PayPal comply with rigorous constraints for data protection while handling your transactions to and from the online casino accounts. In addition to regulatory and industry encryption requirements, PayPal’s transactions and data protection mechanisms are regulated by independent third parties to ensure compliance. Third, PayPal employs an advanced approach called Key Pinning that ensures your connection into your PayPal account isn’t intercepted by hackers whatsoever.
PayPal Security Key and Email Confirmation
PayPal gives you an option to a second authentication factor anytime you’re logging in to your PayPal account. in addition to your normal password, you can opt to activate a second temporary security code to be sent via SMS any time you are logging in to PayPal. The security is further reinforced by the usual email confirmation every time you transact using your PayPal account. The PayPal Security Key along with email confirmation will always notify you when someone try to use your PayPal without your consent.