There are options for paying what you purchase on line

By Alex Gramantin

January 21st, 2021

BURLINGTON, ON

With the world coping with a pandemic and people in many countries in a lock down situation or restricted on which commercial operations are actually opening and operating, millions of people are shopping on-line.

Some method of paying for what you buy on-line is needed.

Let’s start with the obvious, using your credit/debit card to make transfers and online payments is pretty annoying. Constantly having to log in and typing your card information is a hassle, and it’s not that safe for various reasons. Thankfully, there are loads of online payment systems and e-wallets you can use in Canada.

There are a lot of them, so many in fact that it may be hard to choose which one is better and more convenient. I’ve set out below the most popular payment systems for Canadians and given you the pros and the cons based on my experience; you will then be able to determine which one suits you best.

PayPal Canada

Want a payment method that doesn’t use any of your information with the store you’re purchasing from? PayPal Canada is perfect for those wanting a secure banking option that will ensure that no one can get to your actual banking details even in PayPal casinos in Canada. Better yet, you don’t need to replenish your PayPal e-wallet, it automatically uses money from the bank account linked to it. There are over 6.4 million PayPal users in Canada, and yes – it does work with the CAD currency.

Pros:
-Extremely fast, and easy to use
-No transaction fees
-Downloadable e-wallet
-Plenty of discounts with various retails

Cons:
-Long withdrawal times (3-4 days)
-Business account use charges
-Accounts get frozen randomly

Google Pay Canada

Google really is dominating the world, and now you have an option to make payments via Google Pay. Canadian users can use this system on the website, or download a mobile app (Android Pay) that is beyond easy to use. Using Google Pay, you will have the opportunity to earn cash back, gain reward points, and have a secure experience with scam and fraud protection. A little over 12% of Canadian residents happily use this payment method for online shopping, quick transactions, and thousands of available retails in the region.

Pros:
-Lots of rewards and promotions
-Widely accepted online
-No transaction fees
-Charges in CAD

Cons:
-Not as widely accepted in physical retails as PayPal
-Only accepted on smartphones with NFC
-Isn’t compatible with mobile voice assistants

Instadebit

If you want to feel the lightning speed power transactions, Instadebit CA is going to blow your socks off. This payment system is incredibly fast, and offers instant transactions, hence the name. The company serves thousands of Canadian users, as it quickly proved to be a highly convenient online financial system. It’s very similar in structure to most other online payment methods, and can be used for various digital payments except this one happens to be extremely popular in the online gambling world. Making an Instadebit account is as easy as ever, and depositing to online casinos couldn’t be speedier. There are currently over a hundred legal Instadebit online gambling sites for Canadians.

Pros:
-Incredibly fast transactions
-Fast online casino deposits
-Quick online casino withdrawals
-Quick registration process
-Accepted on many Canadian casino sites
-Secure payment system

Cons:
-Doesn’t work with some CA banks
-Can only be tethered to one bank
-Lack of anonymity

My take on what is available:

Whether you’re shopping online, depositing money to friends and family, or gambling online – there are plenty of options. You will find dozens of online payment systems in Canada, but make sure to always read reviews and weigh out the pros and cons before linking your bank details.

PayPal, Google Pay, and Instadebit are all reliable.  They have their differences but they are all  secure options with quick transactions, and no excessive fees.

Alex Gramantin is a consultant who is located in Europe. He consults for an international clientele on internet based payment services.