PayPal emerged back in 1998 and was initially called Confinity. In 2001, it was renamed to PayPal and as they say, the rest is history. PayPal is a pioneer in online payment services and has served customers securely for 25 years. PayPal is a leading global eWallet payment method and is a top choice among customers across the globe. With millions of active users, over 200 million to be exact, PayPal has a broad global reach and is one of the leading payment methods in regions including Australia, UK, Canada, US, and New Zealand.
PayPal: An Overview for NZ Users
PayPal is an online payment system which allows users to send and receive money around the world. PayPal users can link their bank account, credit card or debit card and perform online transactions. All PayPal services are safe and secure, and the platform uses the latest software encryption technology to protect users and their private information at all times.
In essence, PayPal resembles a trustworthy intermediary between merchants and banks, ensuring safe transactions. As long as both parties (the buyer and seller) have a PayPal account, secure transactions are allowed and processed within minutes. This service is available via web browser, tablet and mobile with the PayPal app. Today, most people prefer using PayPal for their online payments and it is widely accepted in several industries across the globe.
The popularity of PayPal has exponentially grown over the years in New Zealand, and according to the latest statistics in the country, one in every two individuals has a PayPal account. In New Zealand, one of the main sectors that has adopted PayPal fully is the online gambling industry. Online casinos and sportsbooks have embraced PayPal and encourage its players to make deposits and withdrawals using this trending payment system.
Advantages of Using PayPal for Kiwis
1. Speed and Efficiency
By having a PayPal account and linking your debit and credit cards to your account, you are fast-tracking the payment process for online transactions. To deposit at an online casino, for example, users must access their PayPal account, select a bank account and initiate the payment. There are only a few steps and generally, PayPal transactions are completed within a couple of hours. The speed and efficiency of PayPal transactions are crucial reasons why so many Kiwis love using the platform for all their online gambling transactions.
2. Advanced Security Measures
PayPal has made transactions secure by using the latest Transport Layer Security and secure HTTPS connections to protect communications data against scammers and cybercriminals. Advanced security measures include a confirmation message with every transaction, which ensures users are informed when a transaction from their PayPal account is taking place. When making deposits at casinos, PayPal acts as an intermediary, thus ensuring all personal card details and sensitive account information are kept private during online transactions.
3. Hassle-Free Dispute Resolution
Making online payments can be stressful, especially when you are unhappy with your purchase and want a refund. PayPal has a reliable refund policy that is not only hassle-free but also offers users peace of mind in case of transactional issues. To request a refund, you will need to contact the seller and the money will be returned to your PayPal or bank account. If, for whatever reason, you don’t receive your refund, you can open a dispute through the Resolution Center. Users have six months from the payment date to open a dispute and request a refund.
4. Mobile Convenience
Many users prefer shopping using their mobile devices, and today, mobile convenience is a priority. The PayPal mobile app is easy to use and compatible with all devices. The dedicated free and user-friendly mobile app is available to download from the Google Play Store and the Apple App Store. The features of this app are the same as the web browser and it will enhance user accessibility.
Drawbacks of PayPal for Kiwis
1. Transaction Fees
Making payments locally for Kiwis is free when using PayPal. However, there are transaction fees when making cross-border payments. Transactions completed in a different currency or which vary from your PayPal currency will result in a conversion rate ranging from anywhere from 0.4% to as high as 7.4% for larger transactions. Generally, higher conversion fees depend on the currency and source of funds, as credit and debit card payments have higher fees.
2. Restricted Availability in Gambling
There are many PayPal New Zealand online casinos and sportsbooks. However, not all online gambling sites allow PayPal transactions. Since not all gambling sites accept PayPal as a payment method, this is seen as a limiting factor for players.
3. Customer Support Challenges
There are some challenges faced when trying to use the PayPal customer support options. There are accessibility issues for non-users or those trying to get more information on PayPal as you cannot chat with an agent if you do not have a PayPal account or are not logged into your account. If you use the email support option or phone the customer support team, the average response times can fluctuate from around 2-3 minutes to as long as an hour for feedback.
PayPal Alternatives for NZ Players
PayPal is a fantastic online payment system for Kiwis but there are alternative digital wallet services for people to use. Below, we discuss four excellent alternatives to PayPal, each with unique features.
Paysafecard is a 16-digit electronic voucher payment code. Paysafecard works the same as any prepaid voucher, and users enter their voucher code to pay bills and enjoy other online features. Paysafecard is a popular payment option for Kiwis in online gambling circles, as players are not charged a deposit fee, all payments are secure, and there is no need to provide bank account details. All payments are also processed instantly.
Skrill is an excellent digital wallet service encrypted with the best technology. With Skrill’s virtual card generation, users can conveniently add funds to their Skrill account with various methods such as credit/debit cards and bank transfers, making it easy to manage and add funds in one central location. Several New Zealand online gambling platforms accept Skrill as a form of payment method.
Neteller is a digital e-wallet method used to send and receive money online. Neteller is an established online casino banking method widely accepted at most New Zealand online casinos. Neteller deposits have fast processing speeds, and payments are encrypted, providing players privacy and security.
The rise of Cryptocurrency has been remarkable and today, Bitcoin is a leading payment method at several New Zealand online Crypto gambling platforms. Bitcoin payments provide instant payments, secure transactions and anonymity.
Frequently Asked Questions
Do casinos accept PayPal?
Most New Zealand online casinos accept PayPal as a payment method.
What casino can I deposit with PayPal?
Our BNZC website has a list of all the best New Zealand PayPal casinos.
Is PayPal safe for online transactions?
All PayPal transactions are encrypted and are safe and secure for online transactions.
How long does a PayPal casino withdrawal take?
PayPal withdrawals are processed within 24 hours.