Examining the Safest Available Payment Methods in Canada in 2023
For Canadians who are looking for safe and secure ways of making payments online, there are several options. Traditionally, Visa and Mastercard are the most popular choices of online payment methods for people in Canada. However, there are other safe methods that have grown in popularity in the country.
These secure payment options allow Canadians to pay for regular products or services online. They can also be used to pay for leisure activities such as booking a vacation, playing video or casino games, or streaming movies. You can see five of these popular and safe payment methods listed below. Take a look and see which appeals to you.
PayPal
PayPal is a recognized global payment solution. It has safety measures in place that allow you to request refunds and raise grievances. PayPal also has security and fraud prevention technology that identifies any questionable activity on your account. These features make it a popular choice for individuals and businesses.
Interac
Using Interac allows Canadians to safely transfer money from their bank account. According to the Interac website, around 90% of Canadians use Interac e-Transfer regularly. Payments are secure and immediate. Interac is a versatile payment method that can be used in a number of situations. For example, many of the 19.3 million active online casino players in the country use Interac casinos when they play. They do so because they can safely and instantly fund their account without undermining the security of their bank account.
INSTADEBIT
Instadebit is a secure bank-to-bank transfer system that is commonly used in Canada. The main reason for its popularity is the speed of transactions which are normally instantaneous, as the name suggests. Security is never diminished by this speed. The system has strong security measures in place, so your sensitive information is always protected.
ecoPayz
ecoPayz is a secure, convenient, and cost-effective e-wallet that is available in 191 countries including Canada. You simply fund your ecoPayz account from your bank account. You can then pay for services and products online, knowing that your personal data and financial information are protected by the solution’s security systems.
Paysafecard
According to Statista, in 2018, 79% of Canadians questioned who used prepaid cards to pay for items or services online. The popularity of prepaid cards further increased during the pandemic. So, it’s not surprising that Paysafecard is a go-to payment method for many people in Canada. The process of using the card is simple and secure. You simply fill the card with the amount of money you choose at a local retail outlet. You can then spend money online without ever having to disclose your regular bank account or card details. So, there is no risk to sensitive information.
These are five of the safest payment methods available in Canada right now. Using any of these methods helps to reduce the risk of spending money online, as your personal data and financial information are protected.
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