VISA is probably the most well-known name among existing credit cards. Worldwide, this provider is therefore number one in the number of transactions that are carried out with a VISA card.
As a company, VISA has a long history. It originated as early as 1958 in the United States. VISA does not manage the budgets itself, but has developed the technology and methodology behind the payment system, which it sells or rents to banks and other financial institutions.
What exactly is a credit card and what is the difference with a debit card?
You use a credit card to buy or pay for something, but the amount to be paid is, as it were, advanced by the financial institution. So you buy something on credit. Buying on credit actually means that you spend money that you do not have (yet).
After a certain pre-agreed period, you have to repay the advanced amount to the financial institution, with a percentage of interest on top.
You cannot buy on credit with a debit card. If there is no money in your account, unfortunately you cannot make payments. The fact that you can buy on credit with a VISA card is often seen as a great advantage, and it is, but at the same time it also puts a lot of people in trouble when the money has to be repaid and there is insufficient money on the account has been added.
How to make a payment with VISA?
Because VISA is the most used payment method in the world, many online casinos can pay with it. The procedure for making a deposit with a VISA card differs from casino to casino, but is usually well explained on the website of the relevant arcade.
What are the advantages of paying with VISA?
Because VISA is so well-known, it is also often used as a payment method in casinos. Payment is smooth and fast and is done in a very simple way. An additional advantage is the payment guarantee that VISA offers, which gives security to both the player and the casino.
The system is well secured, such a company of that size cannot afford to set up an insecure payment system. Thanks to their great efforts in security and cybersecurity, they enjoy a good reputation in this field today.
What VISA is also known for is their customer service. VISA has made efforts to provide customer service in most countries. This gives the great advantage that questions can be asked and complaints can be formulated in a language known to the customer.
What are the disadvantages of paying with VISA
Paying with VISA is simple, but requires some actions such as logging in to the bank when you want to deposit an amount. Paying out can also take a little longer because the amount has to make a detour through the bank.
But the biggest disadvantage is that unfortunately in Belgium it is not legally allowed to pay with a credit card such as VISA in an online casino. This measure was introduced in 2019 on the basis of an amended law on games of chance. It aims to protect players who have or threaten to develop a gambling addiction.
The advantage of a credit card is certainly the convenience that no money needs to exist in the account to make a payment, but this also poses a danger for those who do not handle this risk well.