Although technology has its downsides, it has given birth to fantastic innovation and integrated every sector, including commerce. Now, we have “electric” as a prefix for different fields, such as e-medicine, e-agriculture, and even e-commerce. The ease of being able to make purchases from the comfort of one’s home or office and successfully making payments is a significant addition to the human race.
Although many still utilized both traditional and digital payment methods over the years, many consumers completely switched to online payment only after the global lockdown. At the peak of the pandemic, the government encouraged a cashless society to curb the spread of the coronavirus. At the time, many had to rely on available online payment methods to pay for goods and services. After the lockdown was lifted, digital payment became a norm and the only means of payment for many individuals. A lot of businesses also switched to e-payment to accommodate the new trend. However, there have been multiple incidents of security breaches of online payment systems.
What is Instadebit?
Instadebit, a convenient online payment solution, facilitates transactions from a consumer’s account to a specific merchant. The platform, which is bank-based, allows users to make direct payments from their traditional bank account, serving as a third party to transfer the money to participating merchants. This secure solution is available across Canada and is continually expanding its reach to include merchants worldwide, making it easier to make payments on online casinos, retail sites, and more. If you’d like to play online casino games in Canada with quick withdrawal, it’s best to look for a provider that supports a wide range of payment options. As Djordje Bogdanovic points out, many modern casinos now accept e-wallets and cryptocurrency. You can also find casinos that accept Instadebit.
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Why Instadebit?
Already, there are many payment options available in Canada, such as the use of debit cards, credit cards, direct bank transfers, e-wallets, cryptocurrencies, etc. At the same time, Instadebit is not the first third-party solution to e-commerce. This raises the question- why Instadebit? What makes it unique? Why should anyone in Canada choose the payment solutions over its competitors? Here are your answers:
Advanced security
Instadebit provides advanced security against data leaks, a crucial reassurance in the face of the increasing rate of cyber attacks. With the rise in popularity of digital payments, cybercriminals have been quick to exploit any vulnerabilities in online payment systems. However, Instadebit offers robust security for both consumers and merchants, particularly as Canadian businesses continue to grapple with payment fraud.
The payment solution boasts a comprehensive and highly-developed anti-fraud system in the e-commerce industry, ensuring the protection of all its customers. As businesses combat fraud, individual users of online payment methods are also at risk of personal data leaks, such as banking information and date of birth. Instadebit’s security measures provide a strong defense against such threats.
As for Instadebit, the platform protects users’ banking information and never shares it with its merchant. Every transaction is also protected by 128-bit encryption technology, making it difficult for hackers to access.
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Direct payments
Instadebit is not an e-wallet. You can only hold money in your Instadebit account for a short period. Funds that are held in the account for an extended period will be automatically credited into the customers’ account. As a matter of fact, you do not need to pre-fund your Instadebit account before making a transaction. The payment solution instantly transfers money from your linked bank account to the selected merchant without revealing your banking information to the recipient.
Accessibility
Instadebit, a payment solution that is accessible to both merchants and individuals, supports all Canadian banks and financial institutions. The platform is available on both computers and mobile phones, empowering users to make payments on the go. Most importantly, many merchants accept Instadebit, allowing customers to use this payment method at checkout. The diverse range of merchants spans various sectors, including the gambling industry and e-commerce websites. With the continuous attacks on gambling sites, Instadebit online casino sites are equipped with firewalls and encryption protocols to enhance security and protect users’ data from cyberattacks. Additionally, Instadebit provides merchants with the ability to accept payments and process refunds in different currency types, further enhancing its accessibility and convenience.
How does Instadebit work?
If you do not pre-register via the Instadebit website, you can sign up during your first transaction, where it immediately becomes active. The payment solution will request a Canadian bank account, date of birth, and the last 4 digits of the customer’s Social Insurance Number (SIN). At first, individuals have a low transaction limit but can increase it once they verify their bank account.
While it is free to sign up, there are associated charges for making deposits from a bank account to a merchant and withdrawing from the Instadebit account to a bank account. Notably, users are allowed to link just one Canadian financial institution even though they can make transactions in different currencies. The platform is designed for users to easily convert currencies for deposits and withdrawals.
