Online casinos in the UK and Europe are increasingly accepting Entercash, a fast-growing Fintech payment mechanism. Founded in 2011, it currently operates from Malta. According to the third EU directive on Anti-Money Laundering Guidelines, it is completely controlled by the Malta Financial Services Authority. The Central Bank of Malta supervises Entercash Ltd, which works under its authority.
Entercash is a safe and secure method of making online casino deposits and purchasing things online. More than 100 million customers are served by the Entercash network in more than a dozen countries.
Entercash may be used to make payments like Trustly, sofort and giropay. You don't have to link your Entercash account to a credit card or bank account in order to use the service. It's best to use Entercash if it's an available payment option when depositing at the casino of your choosing. After that, it's only a matter of following these simple instructions.
First, gain access to the online banking account you will be using for the transaction. Usually, this process involves going to the online bank's website and signing in there.
Next, choose the account from which you want to take the funds for your transaction. This will typically default to your savings account if you don't have a current account attached.
Afterwards, you will need to confirm the transaction through your bank's online platform. Nowadays, this is typically done with something called two-factor authentication or 2FA, which sends a code through a different method to confirm the transaction such as a text message or (if your online banking app supports it) the fingerprint scanner on your smartphone.
After that, all you have to do is wait for the funds to complete their transfer and you can start using them at your favourite online casino. Your bank statement will serve as official documentation of your transaction, which should display as "Entercash".
Entercash has the same drawback as other comparable payment methods: not many casinos accept it yet. Although it isn't prevalent yet, it's expected to become more ubiquitous in the future. The desire to decrease the number of third-party interfaces among customers is clearly evident. Even e-wallets, which are intended to centralize all online financial transactions, require a lengthy registration process before a single payment can be sent or received.
We at Inside Casino see potential in bank-based payment mechanisms. This concept is already beginning to gain traction in the United Kingdom. Choose Entercash as your deposit method right away if it is offered by the casino you just joined. Here, you'll find a list of casinos that accept Entercash.