Why Interac is the most popular payment method in Canadian online casinos?
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Canadian players have the privilege of using one of the most suitable payment methods there is, Interac. Since the online gambling market has received a green light in Canada recently, players can start making accounts and depositing money in the most reliable online casinos. Online casinos know that one of the ways to attract new players is to offer them a variety of payment methods and ensure that their money is safe. That is when the Interac came to the scene and stood out.
Interac is an interbank network that operates only in Canada. Its purpose is to link financial institutions or banks with different types of companies. So, Interact is a financial intermediary in short. Its main benefit is that it is the safest payment method in the Canadian market since it doesn’t share any financial information of their client. In this article, we will discuss how it became so popular in online casinos and what its main advantages are.
Interac Popularity in Canada
Interac is available on the Canadian market only and almost all banks and over 500.000 businesses accept it as a valid payment method. Citizens of Canada already saw its benefits and are using it daily, so its popularity grows more each day.
Since Interac is a safe and reliable payment method, most of the Canadian Casinos have decided to list it with other payment methods they offer. It didn’t take long before players started preferring this payment method over the other available ones. Every new casino entering the market has to take into account its competition so, organically, its popularity grew even more. Whichever operator you choose, it is most likely you will find Casinos with Interac and other payment methods.
Instant Transactions
One of the main reasons Canadian players enjoy this payment method is that it provides almost instant transactions. Whether you want to deposit money or withdraw what you’ve earned while playing casino games, transferring money with Interac is a good idea. Making a deposit is done almost instantly, so you won’t have to wait before placing any bets. Also, transferring money from your casino account is done if not instantly, at least in the first 30 minutes. Remember that some other payment methods have withdrawal processing time up to a week, so you can tell the difference.
Transaction Safety
Since transactions by Interac require only entering your card and a pin number, it is almost impossible that someone can deceive you, access your money or falsify your card. Also, even though the transaction is visible to the banks, this method provides its users with the highest level of anonymity. This is because your personal financial information is never shared with the online merchant, or in this case, online casino. Besides, low fees and fast transactions are one of the main reasons Interac gained its popularity with Canadian players.
Low fees
Interac transaction costs are lower than most other payment options that are available in online casinos. Their overall fees usually don’t go over $1. For online transactions below $35 fees are around $0.4, and for purchases over that amount, the fee is still below $1. If you make a transaction of over $300, you will receive a flat-fee of only $1.80 which is the lowest fee out there. It is no wonder it became the most popular payment method in online casinos.
