Entropay is a prepaid Visa card service provider that is currently transitioning into a global payment services network by developing an exclusive e-wallet for internet users. Entropay’s Instant Transfers service is presently in a beta phase, but the company hopes to take it mainstream shortly. While users are encouraged to sign up for an account and use the entropay for their online transactions, it is not uncommon for account holders to receive new updates and addition of services, as part of the e-wallet’s development process. Regardless, entropay is a preferred payment method for sports and cricket betting, as there are numerous sports betting sites that support entropay as a valid funding option.
The popularity of entropay in cricket betting is quite evident in its partnerships with various established online bookmakers, as entropay primarily concentrates its business on the online gaming industry. Entropay also claims to be the fastest payment processor in the entire market, with global transactions being completed within 30 seconds. While several established e-wallets boasts of a large customer user base, entropay is surprisingly not far behind the pack. Entropay’s strategy of targeting the gaming market has worked wonders for the company, with the payment platform being widely used by punters and online gamers from the UK and Europe.
India has a unique relationship with the sports betting market, primarily when it comes to betting on cricket matches and wagering through online bookies. The question of payments and funding options is also prominent among players in India, which means that e-wallets and card providers such as entropay are subject to a high level of scrutiny by Indian authorities. If you are a cricket bettor from India, or if you are generally looking for an alternate sports betting payment option, read our detailed entropay payments review today!
Entropay is a UK-based service that operates with a license from the Financial Conduct Authority (FCA) of the UK. Entropay also falls under the UK’s Electronic Money Regulations of 2011 for issuing electric money, which requires it to be audited according to strict standards that are enforced by the relevant authorities. Entropay Visa Cards are issued under the supervision of Bank of Valletta and offers regulatory protection as part of the Visa’s European operations.
Entropay was launched in 2003 as a prepaid Visa Card company by Ixaris, after which, the company expanded to over 120 countries and has issued close to 9 million cards till date. Entropay boasts a database of around 2 million users, with most of its transactions being performed on gaming websites. Being a prepaid Visa Card provider that also issues digital cards, users have the convenience of using entropay for online shopping and web transactions through the entropay account, while a physical version of the prepaid card can be used to pay at local merchants and withdraw money through an ATM. However, Indian users must note that they can only use the entropay Transfer account, as all types of prepaid cards are banned in India.
Entropay uses a chip debit card that can either be used as a permanent card, or as a disposable card that can be used for any number of transactions and disposed of at will. Every entropay account holder is given the option of holding 10 different cards, or more by upgrading their account or by contacting their account manager. Account holders are not burdened by any restrictions on the card usage, neither do they have to satisfy the minimum credit score. Therefore, it allows entropay users to have individual cards for separate merchant accounts, and cancel any card that is being fraudulently used by any scam operators. The main advantage of the entropay platform lies in the ability of its users to avoid information phishing and account frauds, as it is easier to track the transactions and block a card instantly that is believed to be used by a scammer.
Entropay’s Instant Transfer service is also a highly secure e-wallet that uses the company’s existing platform to provide money transfer services to merchant and user accounts across the world. As an e-wallet, entropay did offer a convenient platform that is offered by most of the accomplished e-wallets in the industry, but we expect the company to modify its services in the coming years. As for encryption, entropay uses advanced encryption protocols for its payment portal, SSL security, and two-factor authorisation.
Depositing money with Entropay is usually denoted as a Top Up, which essentially means that one can add money through a credit/debit card or a bank wire transfer. Topping up your entropay card can cost you 1% of the transaction amount, while transferring funds between entropay e-wallets are entirely free of cost. Using entropay card at online/offline merchants and internal transfers are also free, but withdrawing money from the entropay wallet to a bank account can cost around £1.49-£7.99, depending on the currency and the bank.
Entropay is available in three main currencies, namely the US Dollar, the GB Pound, and the Euro. All cards and e-wallets under the entropay brand can only be held in these currency denominations, but they can be converted into any other currency, provided entropay is legal in that particular country. Indian users can transact in INR, but such a transaction will be automatically converted into the USD, the EUR, or the GBP, according to the user’s choice. Entropay will add currency exchange/conversion charges to the transaction on top of the transfer fee, so, you should account for such costs while using entropay.
Transactions between e-wallets is an illegal activity that is seriously frowned upon by major companies in the market. Therefore, a direct transfer from entropay to PayPal or from other e-wallets to entropay is not possible. However, there is an option to add credit/debit cards at several online payment processors, including PayPal and Skrill, where it may be possible to add your Visa entropay prepaid card and transfer your entropay balance directly to other e-wallets. Of course, there can be considerable transfer charges for such transactions, but having the option to use your entropay card for online payments and e-wallet transfer is certainly an added advantage.
Even though entropay is linked to the Visa card option, some paypal users have struggled with their entropay card, particularly those that are linked to disposable card units. The same is the case with other e-wallets such as Skrill and Neteller. For Indian users, however, the lack of availability of the entropay card due to the legal hurdles does prevent them from using a prepaid card for transferring funds to and from e-wallets. Some online exchanges may act as a middleman for such transactions, but we don’t recommend these services, as they can easily scam you and siphon off your money.
Entropay offers free signup for all users with access to unlimited services through their platform. All users, except those from India, can opt for at least 10 simultaneous prepaid cards, with an option to hold more by getting in touch with the customer service department. All users should complete the initial entropay signup process by registering with an email address, along with offering personal information for satisfying the KYC norms. Entropay may ask you to verify your account to authenticate your identity, which can be done by uploading your national ID document and a copy of your utility bill or statement.
For depositing money into your cricket betting account, you must ensure that your bookmaker accepts entropay card or the e-wallet for processing your payment. Most sportsbook sites provide information about their payment options through the banking page or through the FAQ section. You can also use our recommended betting operators that support payments through entropay. To deposit funds into your betting account, you must first log in to the banking page of your bookmaker, choose entropay as your funding option, and proceed to enter your entropay user information at the merchant interface. Alternatively, you can also use the Visa card payment option, which fully supports prepaid cards from entropay, unless specifically mentioned by the website.
All online bookmakers have several conditions for withdrawals, but the main policy is that players will only be able to withdraw funds to an account that was used to deposit money. Hence, if you are using your entropay e-wallet or card to make a deposit, you can only withdraw your funds to the same account. While this may pose as a slight inconvenience for some players, bookies routinely do this to adhere to Anti-Money Laundering laws and their own internal auditing policies.
Entropay may at times offer a free bet promotion for its users, but these bonuses are only available for brokers located outside the EU. Gambling regulatory agencies in the EU have brought out several laws that ban their members from promoting any free bonus programs, so, it may be a good idea to try brokers from other countries for a good bonus program. Feel free to check out our cricket betting bonus ratings and bookmaker reviews to find the best bonus that is currently available in the market.
If you are worried about the security aspect of adding your credit/debit card to your bookmaker account, entropay offers the perfect alternative in the form of their prepaid Visa card. The entropay e-wallet, which is still in its beta version, is another excellent option for making online payments without divulging your bank details. Although there are numerous other e-wallets in the market, entropay is one of the very few companies that offer some of the best products that are accepted by leading gambling companies and sports betting operators in the industry. Open an entropay account today to see if it suits your betting payment requirements.
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