Betting using Click2Pay

Based in Munich, Germany, Click2Pay GmbH provides an online payment system designed to allow secure transfers without the need for pre-funding of an account. It operates in conjunction with the customerís existing bank account or credit/debit card, while preventing sensitive account information from being revealed to the merchant or service provider that is being paid.

It is perhaps easiest to think of Click2Pay as a protective go-between, separating the recipient of funds from their actual source. This is especially useful for online betting, as players need not give over any account details to the gaming sites at which they wager, thereby retaining absolute privacy and anonymity. It offers the same benefits as using an eWallet, but without the requirement of previous funds transfers.

Hereís how it works. The user registers with Click2Pay by providing an email address, a banking connection and, if applicable, credit card details or details of any other means of payment. In return, Click2Pay provides the user with a password and a personal account number (PAN). The userís email address serves as a username.

Next, Click2Pay issues a ďStar RatingĒ to the user, rather like a credit score. The number of stars allotted ranges from 1 to 6, depending on the userís credit status. This Star Rating will determine the maximum spending limit available on a seven-day basis minus the total spending of the preceding seven days.

There is no need to fund an account prior to using Click2Pay. All transactions are covered up to the limit of the assigned Star Rating. So all that is needed to fund a sports betting account, for example, is to visit the bookmakerís web site and choose Click2Pay as the preferred payment method. Once the username (email address) and PAN have been entered, any amount may be transferred to the betting account, up to Start Rating limit.

When transactions are made, the amount available will refresh seven days later. This means that the entire spending limit is refreshed seven days after the last successful transaction. The userís bank account, credit card or other funding source is normally debited two to three days after the transaction has been authorised.

Click2Pay can be used for purchases at thousands of online merchants worldwide. According to the latest count, there are currently 869 gaming web sites on the Internet that accept Click2Pay for financial transactions. They include Party Poker, William Hill Casino, SportingBet and Bet365 Bingo, to name just a few.

One of the great advantages of Click2Pay over many other methods for online financial transactions is that it can typically be used for making withdrawals as well as deposits. At web sites such as SportingBet, for example, the user pays no charges for transfers into the betting account and any amount can be refunded back to the Click2Pay account free of charge.

Other benefits to using Click2Pay include security, ease of use and swiftness. Most payments can be made in just two clicks, and the merchant receives the money immediately. Online access to statements is available 24 hours a day, too, showing all transactions, usage history and account balance at a glance. Additionally, the more the account is used, the more benefits are received.