With most of the other payment methods that we review, we can say for sure the exact launch date, country of origin, the managing company, and the exact procedure for registering and using the service.
Person to Person, however, is not a trademarked product but rather a solution that more and more banks and companies are turning to and adapting. PayPal appears to be the first-ever P2P type of online payment provider having launched back in 1998. After its era of domination started to simmer down, more and more financial institutions started to look at this idea of sending funds from person to person and offering their variations of the payment procedure.
By 2010, first P2P casinos appeared. In 2017, Bitcoin became the first digital currency fully relying on peer-to-peer financial transactions. Today, such other popular services as ACH, Venmo, and MasterCard all have a way to manage P2P. If you are in the United States, you can even tie a USA-issued card to your Facebook messenger and benefit from Person to Person simple transactions. These will not, however, include paying for online gambling.
It is hard to describe the exact procedure for using P2P for online casino depositing as your provider of services will likely have a proprietary routine in place. However, here are two of the most popular methods:
- You are registering an account with a provider of Person to Person transactions. The next step is to tie a source of funding to it, and this source is a card or a bank account. From this point on, when depositing in online casinos, you will be either using that source of funding or cash in your P2P account.
- Less likely to be used in casinos but still a popular variation is when you head to your P2P account and specify the receiver’s phone or e-mail. The service then notifies the receiver of the pending money transfer and asks for his/her banking details.
One of the most convenient P2P services is currently available with the MasterCard Send line of products. The brand states it takes seconds not days to send and receive cash. The operations are not limited to closed-loop networks and don’t involve ACH.
P2P is always available both in desktop browsers and via mobile apps. Normally, as far as casino depositing goes, transactions will not be able to exceed 500 USD or the equivalent.