Available across most of the world, Visa Electron is one of the most used debit cards. Introduced by Visa in 1985, the debit card is like the younger sister of the Visa card. Both are available as a debit card. But there is one big difference between the two.
You can never use the Visa Electron card if there is an insufficient balance on the account. The Visa card, on the other hand, offers an overdrawn with small amounts.
As a part of the Visa network, everyone knows the Visa brand. After all, you can use Visa cards at millions of places worldwide. Although credit cards were very popular for a while, nowadays, debit cards account for more than 70 percent of all Visa-branded cards across Europe.
History credit card
As far back as the late 1800’s, consumers and merchants exchanged goods through the concept of credit, using credit coins and charge plates as currency. It wasn’t until about half a century ago that credit cards as we know them today became a way of life.
It was in 1900 that the oil industry and department stores used some sort of credit card. Modern credit cards are there for convenience mainly. These first types of credit cards, however, had the aim to create customer loyalty. And to improve customer service.
It was in 1946 that John Biggins introduced the first actual bank card, named “Charg-It”. When a customer used it for a purchase, the establishment forwarded the bill to Biggins’ bank. The bank obtained payment from the customer. This was a local service, but it was also the forerunner of the credit card system as we still know.
The story goes that in 1949 a man named Frank McNamara forgot his wallet while having a business dinner in New York. He managed to find his way out of the pickle, but he decided there should be an alternative to cash.
The man and his business partner, Ralph Schneider, returned to the restaurant in February of 1950 and paid the bill with a small, cardboard card, named the Diners Club Card.
Until today this card is still available all over the world including many Netent Casinos. A few years back American Express, specialized in deliveries as a competitor to the U.S. Postal Service, already came up with the idea for a travel charge card, but it was the launch of the rival Diners Club card that put things in motion resulting in an emerge into the credit card industry in 1959.
The moment the Bank of America (BofA) launched BankAmericard in 1958, meant the introduction of the general-purpose credit card. This is what we now know as VISA.
It was the first consumer credit card program available to middle-class consumers. But also small- to medium-sized merchants in the United States.
The company expanded fast and soon cards became available in other states too. By October 1959, the entire USA had over 2 million credit cards in circulation. Over 20.000 merchants accepted the credit cards.
Over the following 11 years, various banks licensed the card system from BofA. They formed a network of banks backing the BankAmericard system across the United States.
During the late 1960s, BofA also licensed the BankAmericard program to banks in several other countries, which began issuing cards with localized brand names such as Chargex (Canada), Carte Bleue (France) and Barclaycard (UK).
In 1970, the Bank of America gave up control of the BankAmericard program. The various BankAmericard issuer banks took control of the program and it led to National BankAmericard Inc. (NBI).
They kept on promoting and developing the consumer credit card program within the United States, even though BofA continued to issue and support the international licences as well.
It was in 1972 licences had been granted in 15 countries, time create IBANCO, a multinational member corporation, founded in 1974 in order to manage the international BankAmericard program.
After a long history, started in California in 1958, it was in 1974 the various international networks; BankAmericard, Chargex, Barclaycard, Carte Bleue, and all other licensees were united under a common global brand named Visa. Today, Visa operates in 200 countries worldwide.
About Visa Electron
Visa Electron is a debit card available across most of the world except for Canada, Australia, Ireland and the United States, and was introduced by 1985 by Visa Inc.
Why Visa Electron?
Visa Electron works like any Visa card. Except that each transaction must be electronically authorised making this way of depositing ultra-safe. Simply because you cannot accidentally overspend.
As a part of the Visa Inc. network, Visa Electron is one of the largest electronic payment methods used in the world. Even bigger than other credit card and debit card payments systems such as Diner Club. The Visa Electron card is available in over 170 countries and territories around the world.
The Visa Inc. Network holds over 30 million merchants and online companies accepting Visa Electron. Visa Electron is a very common way of depositing into a casino account. It is used by thousands of gamblers every day for casino deposits.
Deposit with Visa Electron:
Visa Electron is one of the easiest ways to deposit money into your casino account. After you’ve chosen Visa Electron as your deposit option, you fill in the amount you would like to transfer into your account, the card details and the unique 16-digit debit card code in combination with the 3-digit security code (CVC) as you’ll find on the back of the card.
After you’ve confirmed the transaction, money will be transferred instantly. Some players prefer the use of a mediator such as PayPal or an e-Wallets like Neteller and Skrill.
Available for both deposits and withdrawals
Type: debit card
Advantages: accepted by many Netent Casinos
Alternatives: Diners Club, Neteller MasterCard, EntroPay MasterCard