Inpay

We’ve seen alternative payment methods mushrooming in recent years. The most popular ones include e-wallets, payment gateways, cryptocurrencies, and cash vouchers. Furthermore, the number of country-specific payment services is also on the rise. These innovative solutions provide several benefits to casino gamers. However, many players still prefer to use traditional payment services.

Online casino players trust banks as they are heavily regulated with robust, cutting-edge security measures in place. Bank transfers are still considered one of the safest ways to make deposits and withdraw funds from online casinos. But, there’s one major downside. If you decide to use international bank transfers to fund your online casino adventure, you might end up waiting on your money for hours, if not days.

Inpay is an innovative payment service that solves this issue. The company optimizes transactions between countries, making them quicker and more cost-effective. In other words, Inpay is overcoming boundaries enabling efficient payments. But is Inpay a good solution for online casino gaming? We know the answer. Keep reading.

What is Inpay?

Inpay is an international payment service offering an alternative to SWIFT wire transfers. The payment provider’s primary goal is to make international transactions easier, faster, and cheaper. Inpay supports multiple currencies and facilitates cross-border payments to more than 100 countries. You can make transactions in 50+ currencies, including EUR, USD, GBP, CAD, INR, AUD, and BRL.

Using the latest technology, Inpay enables you to make secure and quick money transfers between countries. The network handles payments similarly to any other domestic bank transfer. When Inpay receives your payment request, it registers it and connects to local banks in over 100 countries. And this is how it enables instant money transfers all over the globe.

The financial service provider processes online transfers in both ways. Users can send and receive money through a centralized register and local bank transfers. Inpay is a speedy alternative to standard wire transfers “famous” for slow transaction processing.

The network handles more than 500,000 transactions per month. It also enables real-time international payments 24/7 in countries with instant payment infrastructures. Some of the countries where you can use instant international transfers are the UK, India, and Turkey.

Inpay handles SEPA payments in the EU zone in minutes. The company is licensed and regulated by the Danish Financial Supervisory Authority (DFSA No. 22008). However, Inpay complies with regulations in other countries too. All transactions are vetted by internationally accepted AML and CFT procedures. It means that Inpay is a direct service authorized to clear funds across borders.

How Does Inpay Work?

As an internationally recognized payment provider, Inpay partners with the leading financial institutions in multiple countries. These collaborations allow Inpay to open bank accounts at local banks. Such a model enables Inpay to handle international payments as domestic banking transfers. Inpay completes payments using dedicated bank accounts via local online banking systems. Therefore, the payment flow is much easier and faster.

Here’s a brief explanation of how Inpay’s payments work. The bank sends a transfer, and Inpay screens the request and confirms the transaction. Inpay then informs the bank in receiving county to execute the payment. The payee receives the funds in real-time, in local currency. Smart and easy.

Inpay combines the best from both worlds – traditional banking and modern online payment services. The intuitive model includes accepting and executing payments quickly and efficiently worldwide. It means that you can make international money transfers similar to your domestic bank transfers.

History

Inpay was founded in 2008 by Jacob Tackmann Thomsen. This experienced AI and fraud prevention expert wanted to help orphaned children after a devastating cyclone had hit Myanmar. However, he was shocked when he realized his credit card donation would lose 5% on fees.

Furthermore, he learned that the transaction would take days. This was a pivotal moment for him. He decided to create a payment service focused on cross-border transactions, making them quick, easy, and cheap. As a result, Inpay was born.

The company is headquartered in Copenhagen, Denmark, and has offices in London and Singapore. In 2018 Inpay Holding acquired Eurogiro, and in 2021, the Financial Times named Inpay one of the fastest-growing companies in Europe. Inpay’s mission is to provide its services to over 100 million people worldwide by 2030.
Inpay’s services are currently available in over 100 countries. Citizens residing in the Eurozone can use Inpay. Other countries part of Inpay’s network include Australia, Brazil, India, Japan, Norway, Switzerland, Turkey, Singapore, Mexico, and South Africa.