Slots Play Casinos is a watchdog of online casino activities. As such, we are happy to relay the information that two online casinos, based in South Africa, that we have reviewed and recommended, Thunderbolt and Springbok, have partnered with Capitec to make banking at these online casinos smoother, faster, safer, and more private.
Why is This Important Outside of South Africa?
This partnership indicates two trends in online casino banking. One is that gamers all over the world are looking for faster, safer, and smoother banking for their online casino gaming.
The second is that smoother, safer, and more private banking methods are being developed all the time. If it can be done in a niche environment in South Africa, it can be done in any niche environment such as any of the 50 states in the United States, in Europe, or anywhere else.
This development points to an irrevocable trend in online casino gaming: online casino gaming is growing fast, and gamers want the banking side of gaming at an online casino to continue to get better in the terms we have mentioned.
What Kind of Banking Method Does Capitec Provide?
The announcement calls Capitec Pay, owned and operated by the bank Capitec, an instant banking method. It is based on an app. Once a gamer has set up the app, face recognition or fingerprint recognition are all that is necessary to make the transaction go through.
Is Capitec Faster Than Bitcoin?
It might not be faster as it is, but it is a lot easier to set up and execute. Bitcoin requires that a gamer be a member of a cryptocurrency marketplace. Most people, even those who have become familiar enough with Bitcoin to use it, still do not understand it.
Bitcoin uses language that is very unfamiliar to ordinary people. Capitec Pay uses the language of online banking. The great innovation is that with facial or fingerprint recognition, a transaction through Capitec Pay is almost instant. The way Capitec Pay describes the method, all authorizations for deposits or withdrawals are performed within the parameters of the app itself.
Capitec is a bank with over 22 million depositors. As a bank, Capitec was launched in 2001. As a payment method, Capitec Pay was started only in 2023, which is the reason for all the fanfare today. Capitec Pay and the casinos wanted to wait a period of time to see if there were any kinks to work out.
There weren’t, so now seemed the perfect time to introduce Capitec Pay to all South African gamers. Naturally, you can use Capitec Pay for any transaction, not just for online casino banking. In a sense, Capitec Pay is like Bitcoin and an e-wallet all rolled into one format. And it is faster than either of those two alternatives!
Furthermore, there is a ridiculously low fee for online casino banking through Capitec Pay, the equivalent of about 5 cents American.
Capitec Pay is this Generation’s Generational Online Banking Method
It is hard to imagine, but there was once no online banking, no online payments, no buying any and all products online. And, in fact, there once were no online casinos!
All casino gaming in the United States was once done in Nevada, primarily Las Vegas. Atlantic City soon joined, and that’s how it stood for a long time. This was before credit cards became universal, so people either brought cash to a casino or added money to their player’s card with a money order.
Bringing cash was extremely inconvenient. Going to a currency exchange for a money order was also very inconvenient. Then credit cards appeared. It was cumbersome at first, as any store had to check to see if the card you were presenting was a valid card. But credit cards were easier and faster than either cash or a money order.
It took some time, but the internet spawned the e-wallet phenomenon. Where at one time there was but one e-wallet, today there are many. A lot of gamers, even in South Africa, where Capitec Pay seems like the only way to pay, e-wallets are still very popular for their privacy and convenience.
Capitec Pay works like a combination of an internet bank and an e-wallet.
Slots Play Casinos Reports on Developments at Online Casinos
As we said, we have reviewed and recommended both Springbok and Thunderbolt online casinos. By adding Capitec Pay to the other banking methods at these fine online casinos, they have added a most modern method for making almost instantaneous deposits to the casinos.
Slots Play Casinos understands that the online casino market is growing so fast that we need to stay abreast of things as they happen in real time. Come to Slots Play Casinos often for our exclusive promotions and the information we provide through our reviews, guides, and blog.
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