Online casinos accepting credit cards
Online casinos that accept credit cards, as you might guess, allow their customers to fund their virtual accounts with cards from leading brands such as Visa and American Express. This practice exists in many parts of the world, although some countries have passed laws prohibiting such transactions.
In this article, we take a look at the top credit card brands and discuss which ones offer their online casino services. We’ll also cover the basics of the credit industry, including the process of applying for a card and using it to transfer money to an online account.
Credit card companies and networks
Most people use the term “credit card issuer,” but there is a clear distinction between issuing companies and credit networks. Issuing companies issue cards and profit from payment processing fees, account maintenance fees and interest. On the other hand, networks do the actual processing of transactions and make money from companies that pay for the privilege of using a particular brand.
Leading credit card networks
There are 4 major credit card networks in the world that serve as a portal between merchants and credit card companies. Not only do they approve and process transactions, they also set a number of operating conditions, such as liability for fraud and merchant fees when a customer pays with a credit card. In this section, we take a look at the Big Four and detail their success in the market.
- Visa – This lending giant covers over 50% of the market; their cards are accepted in more than 200 countries around the world (more than 8 million business units in the USA alone). The company was founded in 1958 and is now traded on the New York Stock Exchange. The brand is known as a reliable one-stop option for those who need a credit card.
- MasterCard – This company has just over 31% of the market and is accepted by 8 million merchants in the United States. In terms of worldwide popularity, these cards are accepted in 210 countries, a number that has grown steadily since the release of their first Master Charge in 1966: The Interbank Card. More than 25,000 financial institutions issue cards under this brand.
- Discover – This brand holds just over 8% of the market. Discover cards are accepted in about 50 countries around the world. In America, Discover cards are accepted for payment by about 7 million merchants. The company is renowned for offering its customers a high level of fraud protection. The company was founded in 1985. Today, she is famous for offering her customers cash back on every purchase made with her Discover card.
- American Express – Also known as Amex, this company debuted in 1850 and has become one of the most respected and trusted brands in the world. Their credit cards are accepted in over 160 countries. About 4.5 million merchants in the United States accept Amex brand products. Their customer base is smaller than the brands listed above, however Amex is specialized in offering high quality services to more exclusive clients. And unlike other credit cards, the cardholders of this brand must pay an annual fee.