What is MasterCard?
MasterCard is one of the four largest payment processing networks in the world. It partners with financial institutions that issue payment cards that are processed through the company’s exclusive network. At the moment, it works with more than 25,000 banks from 210 countries.
According to numbers released by the company, it reports an annual gross dollar volume of $6.5 trillion, with more than 962 million credit cards in circulation. It is listed as a payment method on millions of websites and is a card payment option that is very popular in Canada.
MasterCard uses the same cutting-edge technology as its main competitor Visa, and its customers enjoy the same processing times and high limits. They have a six-step process that connects merchants and cardholders, so all authorized payments are instantaneous.
It provides users different card options including, credit, debit, and prepaid cards, and it has a digital wallet service – MasterPass, which is available in Canada but is rarely an option for Canadian players at online casinos.’
Deposits Withdrawals Options for Canadians
Once a Canadian player has a MasterCard issued card from a bank of their choosing, they can register at an online casino that accepts the payment method. Then from the cashier section of the site, they can select MasterCard as the favored deposit method, and enter their desired amount. The funds should arrive in their casino account instantaneously or within a few minutes. This should be a fee-free process.
For withdrawal purposes, a player should have the same cashier tab open, and select MasterCard as a withdrawal option. They will have to enter an amount that is the set minimum limit or larger and click withdraw. Depending on the processing time set by each online casino, it may take anywhere from 24 hours to 5 banking days for the funds to reach a player’s bank account.
With a payment option like MasterCard, you will be able to play great slots from game providers like Just FTW, NetEnt, Yggdrasil and Microgaming.
Advantages of MasterCard
One of the main perks of using major credit and debit cards at online gaming sites is that there is no easier way to deposit money, and they are accepted virtually everywhere. This is because MasterCard has a terrific reputation and provides high-level consumer protection. Banks also scrutinize merchants that use the method, which provides reassurance to players.
MasterCard allows players to make sizeable deposits without any fees. There is also a mobile banking app for convenience, and Canadian players that use this method may be eligible for big bonuses and promotions.
Disadvantages of MasterCard
Like with Visa and Maestro, some online casinos do not allow withdrawal of funds using MasterCard. If they do, it may take up to five banking days for the transaction to go through, and for the funds to land in the player’s bank account. A fee might also accompany this transfer, which is usually around 2%.
Like with any credit card, there is a risk of overspending. If a player opts for the credit card option, they need to keep a close eye on how much they’re spending and how much they can afford.
MasterCard at online casinos
MasterCard is one of the best payment methods when using an online casino. Table games and other casino games such as blackjack, baccarat, slots and jackpots as well roulette is best enjoyed with real money so you can use your bonus. Check out our page that explains responsible gaming. If you want to know more about the words and phrases used in online gambling, please check out our glossary for online casino and betting.
Casinos that accept this Payment Method
- My Chance
- Nitro Casino
- Yukon Gold
- Jackpot City
- Spin Casino
- Zodiac Casino
- Royal Vegas
- Night Rush
For more information regarding the service, please see the product-specific homepage.
Other great Deposit Methods