When it comes to games taking place in the digital platform, payment methods are important. It is one of the things that online gamers consider. Many Indians turn to the internet for sources of fun and entertainment. With the number of online gamers in India continues to grow, many online gaming platforms were created and became available to the Indian market. One sector that has grown tremendously is online gambling.
This article will talk about the common payment methods for online gaming in India. These are the following:
UPI (Unified Payment Interface)
It is a payment system designed for Indian gamers. It stands for Unified Payment Interface and was introduced to the Indian market in 2016 in Mumbai. It is a mobile app compatible with any smartphone. To use the app, you have to download it and link your bank account. You have the option to link as many bank accounts as you have. It has partnered with over 150 banks throughout the country. According to the print.in report, the UPI payments have grown at an annual rate of about 200 percent over the last 5 years.
- It works round the clock (24/7).
- Payments are done with just a single click.
- It supports both deposit and withdrawal from online gambling platforms.
- It is one of the cheapest ways of transferring funds.
- It has a daily transaction limit of Rs. 1 lakh.
- Fund transfer is free, although some banks charge a nominal fee of Rs. 0.5 per transaction.
- It facilitates fund transfer in real-time.
As the name suggests, you need to have a bank account to use this payment method. What’s good about Net Banking is that almost all banks widely accept it in India. To use Net Banking, go to the payment channel and select Net Banking, log into the net banking account, and confirm the transaction.
- It offers a quick and easy way of transferring funds.
- It does not require an extra account or a special app.
- The transaction is direct (no intermediary taking payment cut).
Bank Cards (Credit and Debit Cards)
The majority of online gaming platforms in India accept bank cards, specifically debit and credit cards such as RuPay, UnionPay, Visa, Amex, and Mastercard. To use bank cards, simply key in the 16-digit card number along with other important details. Click deposit, and fund transfer will be processed instantly. You have to link your card to make fund transfer a breeze successfully. All you need to do is click and confirm the transaction.
- It is a convenient means of transferring funds.
- It can be used for both deposit and withdrawal purposes.
- Fund transfer is instant.
Electronic Wallets (e-Wallets)
It is a payment solution acting as a middleman between your bank account and an online gaming platform. Examples of e-Wallets are PayPal, Skrill, Google Pay, Apple Pay, and Neteller. You have to download an e-Wallet or open your device’s internet browser, create an account, and link your bank account.
- It is a convenient fund transfer method.
- Fund transfer usually comes with a corresponding fee.
- It ensures safe and secure fund transfer.
You will never run out of options when it comes to payment methods for online gaming platforms that Indian players can use. India’s E-commerce payments trends yield comfort, convenience, and safety. It has grown tremendously, from basic to now considered an innovation in online payment methods. The country’s e-commerce continued to grow with a yearly growth rate of 26.5% last year.
With these quick payment methods, you can easily play your favorite casino games like poker, Teen Patti, roulette, and a baccarat casino online game, which is easy to understand even for a newbie. Navigating to the online gaming platform can pose a challenge to a newbie, especially when using payment portals. There is fear of personal and financial data breaches, but it does not seem to be the case if you use the recommended online payment methods mentioned above. As a matter of fact, even people with novice technical backgrounds can use such payment methods with ease and confidence. They can use it in making payments, including depositing and withdrawing funds from their online gaming account.
Payment options for online gaming for Indian players are vast. Some can be accessed through the device’s internet browser, while others require downloading the app. Regardless of the means of usage, one thing remains – there is no shortage of payment portals. However, before you choose a digital payment platform, you have to make sure you carefully weigh the pros and cons. You have to go through an in-depth analysis before deciding which one to use. Always keep in mind that convenience and ease of use are one, but, most of all, you have to pay attention to safety and security. Choose a payment method that safeguards your personal and financial information.