In today’s fast-paced iGaming industry, speed and security are paramount. Traditional payment methods like credit cards and bank transfers have become too vulnerable to fraud and too slow to provide practical transaction solutions. From the ashes of these methods, eWallets like Payz have emerged. This English payment platform has become the first choice for online casino fans worldwide, thanks to its minimal or non-existent wait times.
In this Payz review, we’ll comprehensively analyze the brand and highlight its strengths and weaknesses. We’ll delve into processing times, fees, setting up an account, and everything else you need to know about using Payz. After reading this report, you’ll be well-equipped to choose the best Payz casinos with the finest bonuses, casino games, promotions like free spins, and other offers you can leverage to your advantage. Payz will become a payment service you won’t want to miss out on.
Top Online Casinos with Payz
Below, you’ll find an overview of Payz casinos with a comprehensive review. We’ve personally tested and examined each online casino site, paying special attention to financial security and the overall game selection. You can’t go wrong with any of the Payz online casinos listed. You’ll have to decide which provider is the best fit for you.
Company History
Payz, initially known as EcoCard, was established in 2000 under the umbrella of PSI-Pay Ltd, the parent company of the brand. This makes Payz one of the oldest eWallets in existence and one of the first European brands to prove a legitimate competitor to its American counterpart, PayPal. While Payz wasn’t very influential in its early years, it achieved a significant breakthrough in 2008 when it received authorization from the Financial Services Authority (FSA) to issue electronic money. Since then, the provider has operated according to the standards of the Financial Services and Markets Act 2000 and the EU’s E-Money Directive.
In 2009, the company achieved two major milestones in the eWallet industry. They were officially included in the MasterCard family and launched their iOS app, praised for its straightforward and incredibly user-friendly interface. In the 2010s, they introduced the now-legendary multilingual 24/7 customer support and the option to open a business account. Departing from a pure card-based approach, EcoCard rebranded to Payz. This also led to the introduction of ecoAccount, ecoVirtual, and other sub-departments.
In recent years, the company has introduced many more innovative features, ultimately catapulting it to a dominant position in the fintech sector.
Payz News
May 2023: EcoPayz changes its company name to Payz.
November 2021: Payz (formerly ecoPayz) introduces a personal virtual IBAN and UK sort codes for customers in the EEA and the United Kingdom.
October 2021: Betsson Group adds Payz (formerly ecoPayz) as a new payment method.
June 2021: Payz (formerly ecoPayz) updates its website to provide better navigation and a cleaner, less cluttered appearance.
April 2021: Payz (formerly ecoPayz) ceases processing online payments in Norway.
February 2021: Real Luck Group Ltd, a leading provider of legal real-money betting in esports, partners with Payz.
November 2020: Payz (formerly ecoPayz) launches new mobile apps for iOS and Android, available in the EEA, Switzerland, and the UK.
August 2020: Payz (formerly ecoPayz) introduces the Payz Mastercard, available to Silver account holders and higher in the UK and most EU/EEA countries.
April 2020: RoboForex introduces Payz (formerly ecoPayz) as a new payment provider for trading.
July 2019: The codePayz app is introduced as a brand-new payment method for Payz (formerly ecoPayz).
Target Audience
Payz is currently available in 154 countries, territories, and jurisdictions. While Payz proudly serves over 75% of countries, there are a few nuances to be aware of before using the platform:
In Israel, Hungary, and Turkey, Payz cannot be used for online casinos due to these countries’ laws prohibiting online casino gambling.
The ecoCard can only be used in countries that are part of the Single Euro Payments Area (SEPA), which includes the EU (including Germany and Austria) and some other countries.
In essence, Payz primarily targets the following markets: Germany, Austria, the United Kingdom, the Netherlands, Sweden, Finland, Norway, Italy, and Spain.
How to Open a Payz Account? Step-by-Step Guide
Setting up a Payz account is relatively straightforward, with few complicated tasks, queries, or the like. However, there are some unique aspects to this particular payment provider. Follow the steps below to use Payz for your online casino provider in Germany:
Visit the website and sign up.
Go to payz.com and click on the “Sign Up” button, which is highlighted in green and located in the upper right corner, just above the transparent black header.
Enter your email address and password.
Choose a username, enter your email address, and select a secure password. The password should contain letters, numbers, symbols, and occasionally uppercase letters. It’s important that the password is lengthy and changed periodically. Also, avoid using the same password as on other websites to prevent compromising their databases.
Choose your country, language, and currency.
Select your country of residence and the desired language. This is important because Payz offers multilingual support. If possible, you will be contacted in your native language and receive appropriate responses.
Choose a currency. Don’t worry; you don’t always have to use the same one. After completing this process, you can add additional accounts for different currencies.
Enter personal information.
Input your first and last name, birthdate, address, and mobile number (for contact and 2FA). Enter the symbols you see in the CAPTCHA field directly below.
Read the Terms and Conditions (T&C).
Read Payz’s Terms and Conditions (T&C) so you know what to expect. If you’ve read and understood the T&C information, accept them.
Create your Payz account.
Click “Create Account,” and you’re ready to go. Now you can use the Payz e-wallet for online purchases, deposits, and withdrawals in the Payz casino.
Deposits and Withdrawals in the Payz Casino
You don’t need to be a rocket scientist to make a deposit with Payz.
- Go to the Banking/Cashier section and select Payz as your preferred payment method.
- Choose whether you want to transfer money directly from your balance or from a credit/debit card when using your ecoCard or ecoVirtual Card.
- Input the necessary Payz account details to initiate the transfer.
In most online casinos, the minimum deposit amount is €10, and there’s usually no fee for using Payz for online casinos. There is no maximum deposit amount unless you’ve set one for yourself.
Enjoy instant deposits at Payz online casinos.
When you’re ready to withdraw your winnings, follow these steps:
- Go to the Cashier/Banking section.
- Select Payz as your preferred withdrawal method.
- Input your Payz account details, specify the withdrawal amount, and confirm your request.
- Withdrawals using Payz are typically processed within 24 hours, depending on the online casino’s policies.
Advantages of Payz for Online Casinos
Choosing Payz as your preferred payment method for online casinos comes with several benefits:
- Security: Payz takes online security very seriously, incorporating modern encryption methods to protect your data and money.
- Speed: Deposits are processed instantly, and withdrawals are typically processed within 24 hours, making it one of the fastest options for online gambling.
- Wide Availability: Payz is accessible in various countries, making it a suitable choice for many players.
- User-Friendly: Payz is easy to use, with a simple and intuitive interface.
- Privacy: You can make deposits without revealing your bank details.
- Support: Payz offers 24/7 customer support.
- Convenient Mobile App: The Payz app is available for iOS and Android devices, allowing you to manage your account and transactions on the go.
Disadvantages of Payz for Online Casinos
While Payz offers numerous advantages, it also has some disadvantages:
- Verification Process: To unlock all the features of your Payz account, you may need to undergo a thorough verification process.
- Fees: Some fees are associated with certain Payz services. Ensure you are aware of these fees when using the platform.
- Country Restrictions: Payz is not available in all countries and regions, so not everyone can use it for online gambling.
Conclusion
In the world of online casinos, Payz is a respected name with a solid track record for safety and efficiency. Whether you’re looking to make quick deposits for your favorite online casino games or you want to withdraw your winnings with minimal delay, Payz is a reliable option.
Its long history in the online payments industry, secure transactions, speed, and user-friendly interface make it a top choice for both beginners and experienced online casino players. Payz offers everything you need for seamless gaming experiences at Payz casinos, including instant deposits, prompt withdrawals, and convenient mobile access through its apps. Explore the Payz casino options, grab your bonuses, and start playing your favorite casino games today.
Disclaimer: This Payz review is for informational purposes only and is not intended as legal or financial advice. Please conduct your own research before using Payz or any other financial services.
What is Payz, formerly known as ecoPayz?
Payz is an English payment platform formerly known as ecoPayz. It’s a secure eWallet service used for online transactions, including deposits and withdrawals at online casinos.
How do I open a Payz account for online casino use?
To open a Payz account for online casino use, visit the Payz website, click on the “Sign Up” button, and follow the registration process. You’ll need to provide your personal information and complete the verification process.
Are there any fees associated with using Payz for online casinos?
Payz may charge fees for some of its services, and the specific fees can vary based on your account level and the type of transaction. It’s essential to review Payz’s fee structure on their website or in your account.
Which countries is Payz available in for online gambling?
Payz is available in over 150 countries and territories. However, there are some exceptions and restrictions based on local laws and regulations. Notably, it may not be available for online casino use in Israel, Hungary, and Turkey due to their gambling laws.
What are the advantages of using Payz in online casinos?
The advantages of using Payz for online casinos include security, speed, availability, user-friendliness, privacy, and reliable customer support. It also offers a convenient mobile app for managing your account and transactions.
What are the disadvantages of using Payz in online casinos?
Some disadvantages of using Payz include the verification process to access all features, associated fees, and country restrictions. Not all countries support Payz for online gambling.
How long does it take to process deposits and withdrawals with Payz at online casinos?
Deposits with Payz are usually processed instantly, and withdrawals typically take up to 24 hours, depending on the online casino’s policies.
Can I use Payz for online casinos on mobile devices?
Yes, Payz offers mobile apps for both iOS and Android devices, ensuring you can manage your account and perform transactions on the go.
Is there a verification process to use Payz for online casinos?
Yes, Payz may require you to undergo a verification process to unlock all features and services, ensuring the security of your account and transactions.
Is Payz safe and secure for online casino transactions?
Yes, Payz places a strong emphasis on security. It uses advanced encryption to protect your data and offers features like 2-Factor Authentication (2FA) to enhance the security of your deposits, withdrawals, and personal information. Payz is also compliant with industry standards, making it a secure choice for online casino transactions.
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