Visa Electron

As a leading financial services provider, Visa Inc. always try to provide payment card products that meet the needs of a wide range of customers. While Visa credit cards and Visa Debit cards cover a large spectrum of needs, there has been one area of concern that the company wanted to address because of some processing issues encountered by merchants. These issues led to the introduction of the Visa Electron card. T&C's apply to all bonus offers on this site. Click for a list of all banking methods.


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Visa Electron

About

The Visa Electron product is a debit card closely related to the Visa Debit product with one very important difference. Merchants and service providers can allow Visa Debit card users to exceed their available card and/or bank account balance if they so choose. That has created a problem for merchants that don't want to allow that to happen, but have no safeguards in place to prevent it. To address this problem, Visa developed the Visa Electron product with the stipulation that under no circumstances would the card users be permitted to exceed their available balances. The only caveat is Visa Electron is not available for customers in major markets like Canada and the United States.

How it Works

Other than not being able to exceed an account balance, the Electron product works exactly the same way as Visa Debit. The Visa Electron card is tied to the customer's bank balance, which allows them to use the card to withdraw cash from ATMs and to initiate point of sale transactions. The amount the card user can transact is only limited by whether or not a merchant is willing to accept the Visa Electron product and the amount of cash the user has in their bank account.

Visa Electron and the iGaming Industry

From the perspective of an online casino or sportsbook, the Visa Electron card offers optimum protection from payment issues because of the fact customers can't exceed the balance of cash in their bank account. Visa Electron transactions are easy to process for both the online gaming site and the customer. With that said, the card is not accepted by many of the top online gaming sites as a banking option for a variety of reasons. When it is accepted, customers are permitted to make both deposits and withdrawals subject to processing fees charged by the online casino and/or Visa.

Summary

The Visa Electron product is a debit card closely related to the Visa Debit product, which comes with one important limitation. Unlike its sister brand’s clients, users of this card cannot exceed their available balances, which in turn limits its use as well.

Click here to visit Visa Electron website.

Posted by CCJ Team