The average online gamer looks at three things when choosing a payment method: Speed, fees and limits. Everyone wants to send and receive money instantly. And they don’t want to lose a large percentage of their cash to fees.
Crucially, it’s important for the ideal online games’ payment method to support flexible limits. After all, most in-game purchases involve small amounts of cash. In light of that information, PayPal is an incredible payment method for online games.
Below is an overview of how PayPal won over online game players.
Available in 200+ Countries
PayPal has dozens of competitors around the world. But almost none of them provides support in 200+ countries. Think of any country in the world and chances are you can use PayPal in that country.
Of course, PayPal isn’t a new company. It’s an established giant founded in 2000. It grew sporadically after eBay acquired it in 2002 and has remained a famous brand even after eBay sold it in 2015.
PayPal’s availability is undoubtedly its biggest strong point. It might not be perfect. But it’s the first company many gamers think of when they need to make a transaction. It’s free to join and you can transact a decent amount of cash before you’re required to verify your identity.
Supports All Major Gaming Platforms
Whether you want to buy gaming accessories at Best Buy, pay for games on Steam or support your favorite Twitch channel with a donation, you only need one account. And that’s a PayPal account.
If you play a little bit of slots, blackjack and online, you can also use PayPal for both deposits and withdrawals. Choose the best US PayPal casino sites, as expertly reviewed here. The benefit: you’ll qualify for bonuses. And you’ll be assured of safe, high-quality services.
With that in mind, many gaming platforms are increasing the number of supported payment options. You can use Visa, MasterCard or even Bitcoin at many of these websites. However, few of the alternatives provide the level of reliability and convenience offered by PayPal.
PayPal is Secure
In this age of scams, hackers and viruses, every gamer wants to transact through safe payment providers. It doesn’t matter whether you want to spend $5 on a Call of Duty Skin or $10,000 on a rare League of Legends weapon.
PayPal provides top-notch security for your money and data. First, it uses SSL encryption to keep your data while using its apps and websites safe. Second, it allows you to protect your account from hackers by setting up a password. Additionally, it gives you the option of using Two-Factor Authentication for added security.
PayPal’s list of security tools is long. It has firewalls to keep off unwanted traffic. Also, it’s compliant with data collection laws. On the other hand, it’s licensed and regulated. Importantly, it has a one-of-a-kind tool called “One Touch.”
One Touch lets you login and authorize payments at different gaming websites without revealing your financial data repeatedly.
Fast and Affordable
As we mentioned earlier, every gamer likes to process payments quickly. It’s the nature of the industry. You don’t want to sell a skin and have to wait for days to receive your money. Likewise, it’s inconvenient to deposit money to a casino and have to wait before you’re allowed to play.
Fortunately, PayPal has a payment engine that processes thousands of transactions per minute. As a result, transactions take fractions of a second to complete. The best part: PayPal seldom charges for payments made to merchant websites.
That means you’re not charged to buy games on Steam, deposit money at casinos or pay for gaming machines on Amazon. The company only charges you when withdrawing money from gaming sites. Or when receiving money from friends.
Precisely, PayPal charges roughly 3% in fees. It’s slightly higher than what some of its competitors charge. But it’s the industry average and much lower than credit cards and direct bank transfer.
Friendly Limits
Ever tried to complete small payments through bank transfer? It’s impossible. Most banks require that you send $20 or more. Otherwise, you’ll need to part with $10 or more in fees. By comparison, PayPal supports payments for anything higher than $1.
On the flip side, you can send up to $10,000. Rarely will you find yourself spending more than $10,000 on game-related products. And if you do, then PayPal won’t be the ideal option for you.
Bank transfer, although inconvenient for small payments, is ideal for large transactions. You can send and receive millions of dollars through wire transfer. Cryptocurrencies like Bitcoin also support large transactions. But beware, they come with charges too (miners’ fees).
Multicurrency and Multi-Lingual Support
When you think about it, PayPal wouldn’t be the biggest e-wallet in the world if it only supported the US dollar and the English dollar. However, it supports a multitude of currencies: euro, pound, Brazilian real, Japanese Yen, Russian ruble and Swedish Krona.
On the other hand, the e-wallet supports all major languages, from Spanish and French to Portuguese and Italian. The company’s support for multiple languages makes it possible for its customer base to transact with fellow PayPal customers all over the world.
You don’t really need to understand Portuguese to send money to a gamer in Brazil. All you need is their email address. After that, they can navigate through the PayPal app in Portuguese and cash out their money.
Mobile-Optimized
In this era of mobile gaming, PayPal would be missing out a lot of it were not mobile-optimized. Instead, it’s in the forefront of popularizing mobile gaming by providing quick payment services to all mobile gamers.
Like many of its competitors, PayPal has android and iOS apps and a mobile-friendly website. The apps are great for people who prefer to spend time on apps. The website, by comparison, is equally convenient if you spend more time on browser games.
There’s no difference between using the app or website. The fees, limits, speed and security systems are all similar.
RELATED: Check out our video game articles, here.
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