Visa began its venture into the financial sector way back in 1958. Originally, it began as a test credit card system run by the Bank of America, which later kicked off in 1976. This was when a few credit card service providers operating at the time united into one major entity, better known as the Visa brand. A few of the names included are Carte Bleue, Barclaycard and Chargex.
Over the years, Visa has grown into the major brand it is, as we know it today. This operates in excess of 60 billion transactions every single year. An interesting fact about this payment method is that they do not issue cards themselves. Alternatively, they act as the provider for banking and financial service businesses to provide their services using the Visa brand.
How does Visa’s payments system work?
The Visa payment system makes use of modern-day software and advanced technology that facilitates the electronic transfer of funds between financial institutions, businesses, customers, non-profit organisations and government. Visa is a renowned financial transactions provider who are entirely safe and trustworthy in their operations, including both functional and technical requirements.
To paint a clear picture of how Visa works, basically, a financial institution chooses to team up with a single transaction processing network provider like Visa for all of their payment cards. Each issuer sets its own terms and conditions for the Visa cards which it is offering and decides the customers to whom the cards will then be issued. Such cards can be made available to both individual and business customers through various types of financial partnerships.
All the best online casinos in today’s market accept Visa cards to make deposit and withdrawal transactions. Among a few of the biggest names accepting the Visa payment method are casino providers such as Netent, Microgaming, Playtech, Real Time Gaming & Amaya. Should you wish to play at online casinos which accept Visa, you will be able to experience a very easy and simple payment process which allows you to play your favourite games right away.
Does Visa charge any service fees?
A question asked by many players who are looking to make online payments using Visa. The answer is no, Visa does not charge you for using its services, however, it is always good to keep updated with their terms and conditions to make sure you always know what is going on.
Included in the list of service agreements are the bank transaction fees and Visa network charges. Visa also partners with companies via different forms of service agreements. Businesses enabling Visa cards are required to finance Visa with a small transfer fee for each client transaction as an added fee for the network processing services that the institution provides.
Is Visa safe for online payments?
Being one of the oldest and most popular payments methods available, there is no doubt that Visa is definitely a safe and secure option for all online transactions. When selecting Visa you can always find peace knowing that your payments are 100% confidential and private, meaning your transactional data is protected. If you ever had to lose your Visa card, not to worry amigos, you can easily cancel your card with your bank and they will send a new Visa card with a new pin within three to five days depending on your country and residency. This applies for players residing in the United Kingdom, Malta and other European countries.
Visa cards impact on the iGaming industry
Enjoying online gambling using Visa cards is very easy, as almost every top betting and casino operator allows Visa as one of their payment methods. Some of the benefits associated with making online casino payments with Visa are that it is highly flexible, secure, easy to use and instantaneous. This means that any deposit you make through Visa will show up in your account immediately. This has made the players journey to playing super fast and efficient. Your money will be available to play within seconds, this has completely revolutionised the iGaming industry, making online casino and betting extremely accessible with ease.