BetandChat, a popular Internet casino portal site, has signed a deal with the leading Internet pay system PayPal that will enable BetandChat users to make payments and deposits on the site through a PayPal account.
BetandChat, which was already set up to accept Visa, MasterCard, and its own prepaid cards, felt PayPal was a perfect fit for the site. "We are sure that this new payment method will significantly improve our client services," Gil Dayagi, President and CEO of BetandChat, said in a statement today. "BetandChat is constantly looking ahead to find new ways to ensure our players of, not only the most exciting gaming experience, but the simplest, most secure and reliable way to make deposits and withdrawals!"
PayPal is no stranger to e-commerce and the Internet. The company has an established relationship with eBay and a host of other sites selling everything from books, music, computers, electronics, fashion, food and more.
The move for BetandChat comes at a time when some traditional credit card companies are trying to shy away from the Internet gaming business.
The transfer of funds within PayPal for gambling purposes is entirely acceptable. In addition to the gambling-friendly environment, PayPal offers a deposit success rate of 100 percent, according to BetandChat.
BetandChat says the system will be advantageous to users as well. With Paypal players don’t have to wait for checks to be mailed since the money is electronically transferred.
PayPal has combined two proven technologies to create this effective and secure system, e-mail and the credit-card network.
Registered users can send payments to anyone with an e-mail address by simply entering the dollar amount on an online form. Once the e-mail is received, the sender's credit card or bank account is debited for the payment amount, and the player's new balance is updated within about one hour.
PayPal is attempting to revolutionizing the process of transferring funds by taking extensive measures to ensure transaction security, moving money more quickly, more conveniently and at a lower processing cost.