PayPal is one of the most popular payment tools on the Internet. It works with merchants in nearly every industry, from fashion and designing to sports and gambling. People love PayPal because it provides numerous assurances.
When you make a PayPal payment, you’re assured it’s sent to the right recipient. And you get an assurance the transaction is completed quickly. What’s more, the charges are low and you can always use the chargeback feature to fight back against scams.
Still, to be clear, PayPal attracts thousands of negative reviews from people that are not fully satisfied by its services. So, is the e-wallet entirely safe, especially when dealing with betting businesses? Yes, it is safe and we’ll explain the reasons below.
#1: Data Security and Transparency
PayPal’s website is encrypted to protect your data at all times. You can confirm this by checking for a padlock sign on the site’s address bar. Encryption means no one can intercept your personal information while you send and receive money through PayPal.
When it comes to data collection, PayPal leads the way in complying with regulators. That means it’s GDPR compliant and follow standards data collection policies to stay transparent on how it uses its customers’ personal information.
Another way PayPal protects you is by working with “white hat” hackers to detect vulnerabilities in its system. This way, the e-wallet stays ahead of hackers by continuously improving its security systems.
#2: PayPal works with Leading Sportsbooks
Unlike some banking companies, PayPal is an incredibly choosy payment method. It selects betting companies to work with carefully, usually siding with licensed, secure and well-known brands like William Hill, Ladbrokes and 888sport.
In doing so, PayPal limits itself to a select number of top-rated sportsbooks. But when you think about it, that’s not necessarily a bad thing. PayPal guarantees you that the only betting companies you can use are safe, trusted operators.
Go to OnlineSportsBettingsites.Co.Uk for a full list of the best PayPal betting sites in the UK. Many of them sites have decent deposit limits and no limits for withdrawals. What’s more, they welcome you with bonuses so that you could wager on several games without touching your cash balance.
#3: PayPal One Touch
If you use PayPal regularly, you’ve probably heard of One Touch. Maybe you’ve even used it while shopping online. Basically, One Touch asks you to enter your billing information once and you’ll never have to do it again.
Although the goal is to provide convenience, it also adds onto PayPal’s security. Picture this. When using Visa or MasterCard, you need to provide your card numbers at every betting website you join. This increases the risk of hacking now that your data is in the hands of countless companies.
With One Touch, PayPal keeps your banking information and never reveals it to bookmakers. Instead, it transfers your money to them, which is all they need to let you place bets. You can use One Touch on both mobile and desktop devices. It’s free and available in all countries where PayPal operates.
#4: Buyer Protection
PayPal has a chargeback program that can help you get a refund if you run into a scam. All you need is to alter PayPal of the problem and it will start investigating immediately. It then contacts your recipient to give them a chance to appeal your decision.
Let’s say you send money to a sportsbook and it fails to let you bet. You can alert PayPal and the e-wallet will contact the bookmaker. If the bookmaker fails to respond or does not provide evidence of offering the required services, you get a refund.
PayPal’s buyer protection program doesn’t offer guaranteed refunds, though. It has policies meant to prevent buyers from abusing the system. What’s more, it takes time before initiating a refund to ensure that the process is fair.
#5: Password Protection and 2FA
This might sound obvious. But PayPal’s password protection and 2FA features are vital in safeguarding you. By creating a password, you ensure no one else but you can authorize transactions in your account. And if you enable 2-Factor Authentication, you add a layer of security that not even hackers can break.
For the uninitiated, 2-FA is a security feature that requires you to use a security code on top of your password before you log into your account. Some betting companies also feature this service, so you could enable it on both your PayPal and betting accounts for top-notch security.
#6: 24/7 Customer Service
Although PayPal is a generally reliable digital wallet, there’s always a chance of running into a payment nightmare. You could enter the wrong recipient’s address or a transaction could get delayed for no clear reason.
During these instances, you can rely on PayPal’s 24/7 support team to come to your rescue. The company uses a series of contact channels: chatbots, emails, phone calls, forums and social media. Chatbots are pretty convenient but you must be logged in to use them.
Emails are great but you don’t get immediate replies. On the other hand, phone calls are reliable but can be costly. Forums are great for asking general questions from other PayPal users while social media offers a little bit of everything.
PayPal’s customer team often get criticism for not being so quick to respond. But when you consider the e-wallet’s huge number of customers, then a one or two-hour delay doesn’t sound too long as long as your issues get sorted out.
#7: Banks Trust PayPal
If you’re worried about linking your banking information to PayPal, know that many banks trust the e-wallet/ You can link your credit or debit card to PayPal with no issues. Importantly, your payments aren’t at risk of being flagged when paying betting companies through PayPal.
To expound more, not every bank and card company supports payments to gambling companies. Some of them even freeze money in your account when this happens. PayPal ensures you never get to experience this problem because it doesn’t reveal data on how you spend your money.