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INOVAPAY
You’ll hardly find an online casino without at least a few e-wallets in their cashiers. Many casino players choose digital wallets as their preferred payment method for financing the gameplay and cashing out winnings. One of the reasons why e-wallets are so prevalent lies in the fact that you can both deposit and withdraw at online casinos.
Innovation is at the very core of the concept of e-wallets. They allow you to quickly and securely deposit and withdraw money at casino sites. Moreover, they link different payment services for funding the wallet account and support various currencies.
Now, when a digital wallet is focused on a specific market and region, the story becomes even more intriguing. Local banking services have been booming lately. They are popular since they allow transactions in local currency, thus removing additional costs. Although the official website says INOVAPAY is an international digital wallet enabling secure transfers, INOVAPAY serves clients in Latin America, Brazil in particular.
In this article, we explain how INOVAPAY works and provide all the necessary details to help you decide whether to give it a go.
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About INOVAPAY
INOVAPAY was rolled out in 2018 by Flexe Payments Pty Ltd. This well-known Australian financial company is also a member of the leading Novatti Group. If the name rings the bell, you’ve probably heard about Flexewallet and Flexepin. These payment services are very popular in Australia, Flexepint above all.
However, the company decided to use its vast fintech knowledge and experience to create and launch another successful payment option. You’re right – we speak about INOVAPAY. One of the main benefits INOVAPAY brings to its clients is that they don’t need a bank account to pay with this digital wallet.
INOVAPAY can be used for online gambling
Another advantage is that INOVAPAY is mobile-friendly, meaning you can access your account and make transactions whenever you like from your phone. You can also purchase an INOVAPAY prepaid voucher from your wallet account and use the 16-digit code to deposit at online casinos. Finally, the company offers a branded debit card for offline purchases or to withdraw money from ATMs.
To conclude, INOVAPAY is not just a digital wallet. It includes a physical payment card directly linked to your balance and a prepaid voucher for anonymous online payments. In other words, INOVAPAY is a versatile banking method that meets different clients’ needs. Therefore, it quickly started to draw attention, becoming available at iGaming sites accepting players from Latin America.
Target Markets
As we’ve mentioned, INOVAPAY is available in Latin America – Brazil above all other markets. Although the parent company is famous for its financial solutions in Oceania, it diversified and created another localized solution to help users from Brazil get a user-friendly service for convenient and secure everyday transfers.
Some might say that one target market is not that ambitious. However, knowing that Brazil has a population of over 200 million people, it’s more than enough for a decent customer base.
INOVAPAY Account & Banks
Just with any other e-wallet, you must register with INOVAPAY to use its services at online casinos. INOVAPAY has a unique approach when signing up is in case. Unlike other digital wallets that allow you to finish the registration on your own, you must submit a request to INOVAPAY first and wait for the team to reach out.
Go to the official website and click “Free Sign Up” to open a new page where you should enter your personal details. Type in your name, email, DOB, phone number and the password you want to use. Next, you must submit the Cadastro de Pessoas Físicas number (CPF), the Brazillian equivalent of the US Social Security Number (SSN).
Finalize the registration and wait for a verification email confirming your request has been accepted. You will receive an activation link, so follow the instructions, and you should set up your INOVAPAY account in no time.
We can assume that this process is actually quite similar to registration with any other digital wallet. However, when we contacted INOVAPAY customer support to give us more information, they said their company policy forbids them to disclose specific details. However, they told us that such an approach was explicitly designed to prevent criminals from misusing the service for fraudulent activities.
After you open an account, make sure to top up the balance before you visit the casino and go to the cashier to make a deposit. You can send money to the wallet from your online banking or standard bank transfers. Some of the major Brazilian banks include Santander, Banco do Brasil, Itaú, Bradesco, and Caixa.
How to Deposit with INOVAPAY?
Depositing is convenient and really quick. First, choose an INOVAPAY online casino you like and join the site. Then, head to the banking page and look for INOVAPAY’s distinctive logo. Click on it to choose the e-wallet as your deposit method. Select an amount or enter your own sum and click the Deposit button. Log into your wallet with existing credentials and confirm the transfer. That’s all you need to do.
How to Withdraw with INOVAPAY?
Withdrawing is also hassle-free and almost the same as crediting the casino account. Only this time you should open the withdrawal section in the cashier.
Look for INOVAPAY and choose it to collect the funds from the casino. Again, enter the desired cashout amount and check if all wagering requirements are cleared or the withdrawal amount is within the casino’s limits. If all is fine, submit your request and wait for the casino to observe the details and okay the payout.
Transfer Times, Fees, and Security
Casino deposits with the INOVAPAY wallet are completed within a few moments. The casino will notify you when they receive the payment confirmation, and the funds will automatically reflect in your balance.
On the other hand, cashouts are different and take more time. First, the casino has to review the request and check your account to see if all requirements are met. This requires time, so casinos have withdrawal pending times. Generally, e-wallet payouts are quick and can be approved within a few hours, but some sites need 24-48 hours to release the transaction. Therefore, depending on the casino, you can receive the money in an hour or in a day or two.
INOVAPAY has no processing fees for making deposits and cashing out at casino sites. Casinos also don’t charge additional costs. Still, we always like to point out that exceptions can exist, so open the T&C and visit the banking page before any payment. Even if INOVAPAY don’t cut costs, the bank might have some fees if you’re crediting the wallet balance from your bank account. Therefore, also check with your local bank if they’ll charge you.
As for security, Flexe Payments is regulated by the Australian Securities and Investments Commission (ASIC). In other words, the company is fully authorized to process financial transactions.
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