The Papaya electronic wallet
Many are interested in new forms of payment enabled by electronics. Start-ups that create payment solution services are rethinking the way we exchange and pay, as shown in the bitcoin virtual currency for example. For players, the withdrawal of Neteller from casinos was a big blow, but for the electronic wallet Papaya, it's a fluke.
Faced with increasing competition (especially from Cashlib which is now accepted on all casinos and who has just created Neocash and the wallet MyNeoSurf), Papaya is forced to innovate. And we've been calling for new ways to deposit and withdraw for a long time.
The electronic wallet Papaya reliable or unreliable ?
This payment method is quite recent but already has its own application. Allowing you to shop online, send and receive money instantly, it has been in existence since 2012 and its headquarters (parent company Electronic Money Institution ; EMA) is located on the island of Malta. Papaya Electronic Money is also regulated by the financial authorities of Malta.
For most of its users, Papaya is still just a digital payment card that has to build and maintain a physical network, and that offers transaction fees. But by carefully analyzing the Papaya services, we are rapidly approaching the ideal alternative to Neteller.
To counter misconceptions about Papaya, nothing better than a quick comparison of popular and accepted deposit and withdrawal methods at online casinos.
- Skrill is free but imposes management fees, withdrawals and for purchases abroad,
- EcoCard is free but imposes transfer and withdrawal fees,
- CBlib costs $ 9.90. Only fees on ATM withdrawals (minimal),
- Papaya costs 10 $. The fees depend on the desired card (virtual or physical)
- Net+ costs 10 $ and there are transfer and withdrawal fees,
- Neocash costs $ 14.90 and there are fees for management, transfers, withdrawals and for purchases abroad.
For or Against Papaya Casino
As with all payment methods, there are pros and cons to its use. Let's start with the Papaya flops:
- Few casinos accept it as a means of withdrawal
- Prepaid cards are inaccessible to many countries
- There are transaction and management fees for the portfolio
- 3% exchange rate
- There are limits on the amount and number of transactions to respect
If the disadvantages listed above are important to note, it should be noted that the competition imposes similar conditions of use, even more restrictive. Inform yourself well and try to find a solution which has the same advantages as Papaya, i.e .:
- Unlimited number of wallets with a single registered account
- Prepaid MasterCard Cards
- Guaranteed security and safety
- Solution regulated by a financial authority
- Solution for deposits AND withdrawals
- Online assistance in American
Top up your Papaya account by transfer
If you are used to transfers, it is best to top up your Papaya account by bank transfer rather than by credit card, since this is free (excluding Sofort and iDeal).
You can also receive money from anyone in your Papaya wallet the same way, and the good news is, it's free too.
Once your Papaya account has been created (this is also free), validate it with the activation code sent to your email. You can then fund your account and make a deposit to your player account.
To sum up :
- Feed your Papaya electronic wallet
- for a bank transfer, Papaya takes us 5%
- for a transfer from another Papaya wallet, it is 50 euro cents.
Minimal costs, when compared to Neteller fees.
- Papaya Prepaid MasterCard
To be able to withdraw from the cash machine ($ 2 fee) or by paying by credit card in stores (25 euro cents per transaction), ask receive the Payaya card prepaid card. The card itself costs 10 euros and there is 5 euros for shipping.
As with other e-wallets, your anonymity is preserved for all your operations since the purpose of using an e-wallet is that only the name of the wallet will appear on the bank account statement. A good thing, when we know that bank secrecy does not exist with us.
As for management deadlines, the Papaya electronic wallet confirms one hour maximum, once the withdrawal request has been validated and the money sent.