Online casinos like us at Winissimo accept a variety of payment options for depositing or withdrawing funds. Direct bank transfers, e-wallets, card transfers are some of the most prevalent payment options. But there is another quite safe and widely popular option, particularly for Indian fans, known as UPI.
We’ll be focusing on the UPI method of transaction on this page. We’ll also look at why gamers should use UPI as a payment mechanism because it’s a better and safer option.
Features of UPI
UPI was introduced in 2016 in India. It’s a real-time payment mechanism for transferring money between 2 bank accounts. The significant benefits of UPI over earlier payment methods such as NEFT are its speed and increased security. In 2016, just 21 banks were part of the original launch, but today, UPI is used by almost every bank in India.
The RBI and the IBA in India oversee the payment system UPI. UPI is thought to account for more than half of all online payments in India though.
There are three primary reasons why UPI has become India’s preferred method of digital payment:
- Transactions were significantly sped up as a result of it. While NEFT transactions are aggregated and paid at various times throughout the day, UPI transactions are instantaneously credited, comparable to IMPS transactions.
- Unlike IMPS, however, UPI transactions were initially free. Recently, the system has undergone some modifications, and banks have begun charging for the service, although in most cases, transaction costs do not begin to apply until the 20th operation of a month. In India, it is still one of the most cost-effective methods of sending funds from one institution to another.
- Virtual payment addresses (VPAs) are used by UPI to make transactions between two accounts easier. This implies you may utilise a human-readable VPA instead of sharing your card or bank information. VPAs also make it simple to transfer cash fast since you don’t have to deal with IFSC codes, big account numbers, or other financial information, and they keep your banking data safe.
How to use UPI to deposit on online casinos?
UPI is a very simple and handy way to deposit money into an online casino. You must first create a VPA through your bank’s mobile app to make a UPI transaction. Here’s what you have to do when you possess the VPA address:
- Join one of the online casinos that accept UPI.
- Select “UPI” as the payment method as your 1st deposit after you have registered and validated your account.
- Your banking app will get a UPI request from the payment gateway. You’re ready after you have opened the app and accepted the offer to submit the payment. The money would be deposited to your online casino account right away.
How to use UPI to withdraw from online casinos?
UPI is also becoming a popular method of withdrawal in Indian online casinos. However, keep in mind that the withdrawal procedure might take a little longer than depositing. Here’s how to use UPI to make a withdrawal:
- Go to the online casino’s “cashier” page to make a withdrawal.
- Select UPI as the withdrawal method and proceed to pay out.
- If it’s your first time withdrawing from an online casino, you’ll almost certainly be requested to submit extra information to authenticate your account. Because the verification procedure takes time, UPI withdrawals are not completed immediately if it is your first withdrawal. The verification procedure is only carried out for the initial withdrawal, therefore it must not be a concern for any further withdrawals.
- The withdrawal will be completed and the funds will be delivered straight to your bank account after your account has been confirmed.
Fees with UPI
Each UPI transaction is charged a fee of 0.50 by the NPCI. Then there are certain casinos that demand additional costs for using UPI. To find out precise specifics, check your casino’s payment conditions.
Availability of UPI
The NPCI established UPI, which uses Indian rupees as its principal currency and is accepted by over 170 banks in India.
Is this a secure payment method?
UPI payments are heavily encrypted and difficult to hack. Immediate Payment Services, another NPCI-tested solution for quick transactions, comes after UPI dealings.
People do almost 8,000 billion dollars worth of transactions every day, and this figure is projected to skyrocket in the future years.
Many well-known businesses, such as Paytm and Google Pay support UPI transactions, and if you have any problems with your payment, there are 24-hour helplines available to assist you. UPI is used by millions of Indians on a daily basis. This is why people have more faith in online casinos that accept UPI payments since their faith is founded on experience.
Benefits of using UPI at our casino
To begin with, UPI payments do not necessitate entering confidential information on the casino’s website. Instead, you’ll make your payment using your phone, which is already linked to your bank account. Many gamers will feel more secure when this process is complete.
Another perk of UPI is that players from India can very easily do their transactions on our page. Furthermore, the service is linked to over 150 Indian banks, enabling it to be used by the majority of gamers.
Finally, UPI’s base currency is Indian Rupees. So you won’t have to be concerned about currency conversion issues. You can also use other currencies, but you’ll have to pay a conversion charge in those situations.
How to use UPI on our website – step by step
STEP – 1 Go to our page and click the “Login” link.
STEP 2 To login, make sure your email address and password are correct.
STEP-3 Now use the sliders to deposit funds by clicking on the Deposit Now button.
STEP – 4 Finally, select the UPI option.
Pros and Cons of using UPI method
|It is completely risk-free to use.|
Fees are low.
|Protracted processing time.|
|Most casinos accept it.||Foreign currencies will be charged a conversion fee.|
UPI has a fantastic customer service department that will assist you with any questions or issues you may have while using the service. It is one of the most widely accepted transaction methods in online casinos and players from India can enjoy their favourite casino games at Winissimo by using the UPI method.