One would think that in the times when you can deposit and withdraw funds at online and mobile casinos in so many convenient ways, there would be no need for any more payment methods. However, PugglePay is trying to win over the hearts of remote casinos and its users by offering a quick and modern way to manage playing funds.
Most of us have never heard of PugglePay, so it’s probably useful to quickly recap its short history. Conceptualised and established in 2012, PugglePay first started operating in Scandinavian countries, but has slowly expanded its business. Throughout 2013, it started to gain its very first high-profile clients, such as Plus-Five Gaming, Mr Green, Betsson, Casumo, Europa Casino and so on. At the end of last year, it had gained enough traction to become one of the finalists for the Nordic eCommerce’s Newcomer of the Year award.
Surely, there would have been no demand for yet another e-wallet, but the creators of PugglePay saw potential in the another phone-related payment method. So what is the premise of PugglePay and how does it differ from all of the other payment methods? Of course, there are already the phone bill (SMS) payments that players can utilise, but PugglePay is different. It allows players to buy services through invoice – essentially getting services with money they don’t necessarily have at the moment, but hopefully will in the coming two weeks.
How does it work?
It claims to be a convenient payment method that works extremely well in a remote gambling environment, seeing as you don’t need to reveal any financially sensitive information online. This is indeed very safe and secure, and modernises the way that online purchases are made.
It might come as a surprise that there is no complex registration process or any need to download apps. You just need a mobile phone, and that’s it. Contrary to the phone bill payment method, PugglePay doesn’t affect your phone bill, but rather uses your phone to send you an invoice. After you initiate a payment, you get sent a code to your mobile, with which your transaction can be completed. You would need to pay that invoice within 14 days and you get credit statements regularly to keep track of all of your spending. Easy as that.
Usually the casinos don’t charge a fee for using PugglePay and the transactions themselves command no fees too. We do love a banking method that is free and so easy to use! Yet, the only con is that you cannot withdraw using PugglePay, so you would have to choose to withdraw via a bank card, account or via an e-wallet if you have any winnings that you want to ‘take home’. Furthermore, the social responsibility of such a method can be considered questionable, i.e. spending money that you don't yet necessarily have, but the company has stringent credit checks and preventative measures to ensure that Puggle Pay doesn't become the gateway to irresponsible gambling.
You might be asking this hypothetical question right about now. The payment system is currently available in Scandinavia – it is licensed and regulated by the Swedish Financial Authorities and people in Scandinavia (and in nearly every other country in continental Europe) are used to making payments via invoice.
It is evident that brands, which want to be associated with other modern, hip, start-up companies, have opted to use PugglePay as part of their banking system. Although there might not be an immediate necessity for yet another banking option, given PugglePay’s rapid expansion and growth, we are guessing that it’s only a matter of time until it makes its way to the UK.