PayPal Introduce New Online Betting Paywalls And Barriers
The online transaction app PayPal have announced a series of measures which will prevent online betting payments being made through the application. The technology firm have made an active effort to distance themselves from the ever-growing gambling industry as more and more controversy makes itself known. The app is mainly used for online selling and family and friends transactions, and they believe that online betting capabilities do not align with their business model, thus they have removed the option to connect it to online sportsbooks. This is undoubtedly a massive moment for the industry.
One of the biggest online payment platforms in the world has announced that they will no longer support betting websites. The market in Europe will no longer have access to the platform for gambling purposes and this is undoubtedly a massive blow for users across the continent. PayPal is one of the most convenient and popular online transaction platforms in the world and this decision will have a big impact on the overall user base. ©AidanHowe/Pixabay
PayPal have announced their departure from the betting scene in a public statement they made last week. The report goes into plenty of details regarding the reasoning and essential knowledge which will be broken down here. As a large technology company, consumer trust is key due to data and other metrics which they can analyze. Online betting is regarded as one of the more liberal industries on the web and PayPal only wish to associate the platform with leisurely activities which suit their business model. Over 18s gambling most certainly doesn’t according to them.
It’s a massive story and one which will undoubtedly affect many users in the short term. There are plenty of options for consumers to use including CashApp, another popular payment platform mostly used in America. The convenience and simplicity of PayPal is unmatched, and users will be disappointed that they cannot link their wallets with online betting sites anymore due to a change of policy. For years they have provided additional payment options on live casino websites, but this is now history as from next week, the PayPal developers will remove their widget from all betting-related activities.
There is also talk of PayPal removing the service in America and this is looking increasingly likely as things stand. CashApp has a massive opportunity to capture a major percentage of the market due to PayPal rescinding the dominance they once held. Users may be disappointed with PayPal but there a number of other great options with equal level security measures meaning consumers of live casino sites will still be able to transfer funds securely and without worry. The technology company has announced that every country in Europe will no longer be able to use the platform for any gambling-related activities.
PayPal Aren’t Coming Back
The reports published last week explicitly stated that there would be no U-Turn on this decision and that the board had made a decisive move to better protect the future of the business. Despite losing out on a significant user base, they will be able to avoid controversial topics as the field of online gambling is constantly changing and invoking new public issues. PayPal previously removed payment features in Germany and since then they waited until now to remove the platform from every other European nation.
The legal ramifications for a company like PayPal is huge if consumers are exploited by faulty security measures and to prevent any hassle on that front, they are pulling out of the betting industry. Many will be sad as PayPal is one of the pioneers of online payment and has been since Elon Musk founded the company back in 2008. Since then, he has gone on to create Tesla, the pioneers of the electric car and also Space X. It could be a while before another online transaction platform takes the place of PayPal and until then, we advise all users to proceed with extra caution when using online betting sites.
