Electronic wallets and the online lottery
We have practically said goodbye to cheques and payment documents, and little by little we will get rid of the physical money.
Every day, with more need, we become essential the so-called “electronic wallet” as payment methods.
In a time as globalized as the present, where we can access online purchases from anywhere in the world, it is essential to have some means or method that allows us to expedite the payment of such purchases.
Electronic transfers and credit/debit cards make life easier for us and allow us to interact with people and companies from any industry, activity or company, and of course access the purchase of world lotteries through online platforms.
Are they an alternative to traditional banking?
They are two business-service models with very similar characteristics. While traditional banking in a business model much more widespread worldwide, with physical offices open to the public and currently also offering online banking service, electronic wallets, are a complement to banks, and in some cases can be perfectly an alternative for those services that banks hinder or require extra compensation.
The market offers us multiple brands in electronic wallets: Skrill and Neteller are perhaps the best known worldwide, but there are undoubtedly many others that have a special implementation in specific territories, as is the case of Piastrix, with strong implantation in Russia.
Buying lottery through electronic wallets
Sometimes we have found that when making a purchase and paying a certain lottery bet, the credit or debit card has been rejected by the bank and for no apparent reason, “company policies” often say, as justification for refusing to accept payment when dates ago, perhaps if they had accepted, and overnight deny the same operation.
With the advent of online lottery platforms, it has become essential to find a safe, reliable and easy-to-use method for depositing funds and withdrawing your winnings. The answer to this is digital electronic wallets that store your money so you can make transactions online without having to enter your card details every time.
Using electronic wallets allows you to spend money without using your bank account or credit card information, limiting the possibility that third parties may steal your financial data.
Also companies like Skrill or Neteller offer the possibility of applying for a debit card mastercard, to make physical purchases, (simply requesting it) in virtually any establishment in the world. And of course have a virtual card for your online purchases.
Both companies are authorised by the Financial Conduct Authority of the United Kingdom (FCA), which guarantees high levels of security for your transactions.
Neteller vs Skrill, a comparison of their deposit methods
Neteller is older, was created in 1999, while Skrill (also known as MoneyBookers) exists since 2001, and in 2005 was acquired by Neteller.
Both Skrill and Neteller offer simple, well-designed websites that explain everything you need to know about each of these providers, including a breakdown of fees, offers and rewards, as well as easy access for creating an account and logging in.
Today, both are part of Paysafe Group, one of the market leaders. And although both are part of the same financial group, each has its own regulations and a wide range of services.
In short, we can say that they are quite similar because they are the same creators for both with the difference that Skrill has other partners, and Neteller is more like a traditional bank.
It is also important to note that Skrill is more flexible and is slowly involving a little more in what are the crypto currencies.