PagoEfectivo

Pago Efectivo is a payment method very popular among online casinos and players in Peru.Honestly, we didn’t have much information about this platform, so our experts got down to work to find out what makes it so appealing to online casino enthusiasts in this South American country.

The company behind PagoEfectiveo promises a safe and reliable banking option, and we wanted to make sure this wasn’t an empty promise.

Below is a detailed review of PagoEfectivo. We went above and beyond to gather the data necessary to decide whether it suits your gambling activities. Are you ready to join us on this journey? You are. Great, let’s go!

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About PagoEfectivo

PagoEfectivo was founded in 2011 in Lima, the capital of Peru. It is supported by Grupo El Comercio, a media conglomerate whose experience helped the platform establish its reputation.

PagoEfectivo is more than a payment method. It spearheads digital development in Peru and across the region. It is also a safe, fast, and easy-to-use method that allows users to purchase online without any bank cards. To put it simply, you can use PagoEfectivo to make payments in cash, thus eliminating the need to disclose any sensitive information online.

This is the main reason behind the platform’s success, as more than 90% of people in South America choose cash payments. In Peru, this percentage is much higher.

In 2019, PagoEfectivo started offering its services to customers in Ecuador. In 2021, the platform was acquired by Paysafe, one of the leading payment providers in the world. Thanks to this move, PagoEfective entered the Argentinean market a year later. With Paysafe behind it, we can expect the payment method will significantly increase its footprint in the coming years.

Target Markets

For years, PagoEfectivo was exclusively available to users in Peru. That changed in February 2019 when the platform announced its expansion to Ecuador. In August 2022, following the acquisition from Paysafe, the payment method entered Argentina.

According to available information, the future plans include rolling out the service in Chile and Colombia.

PagoEfectivo Account

PagoEfectivo is an efficient and easy-to-use payment option. One of its many advantages is that it doesn’t require opening an account. However, you will need a CIP code to carry out transactions with this method.
CIP (Código de identificación de pago) is a unique payment identification code generated at the end of your transaction.

When choosing PagoEficetivo as your payment method at an online casino, the system will generate this code, and you will receive a copy via email. You can pay in cash at any PagoEfectivo-authorised locations or physical bank branches. It is also possible to pay using online banking.

Every CIP receipt has an 8-digit code, the information about the amount of money you have and the date until you must complete the payment. Once you pay, the code’s status will change from Pending to Cancelled. However, the status will change to Expired if you don’t complete the payment in time.
The PagoEfectivo system receives the information about your payment from the authorized center and then notifies your online casino.

How to Deposit with PagoEfectivo?

After registering with a casino supporting this method, log into your account, and go to the Cashier page. There you will pick PagoEfectivo as your preferred means of payment. Enter the sum you plan to add to your balance, and click the Deposit button.

This opens a new window where you will see the 8-digit CIP code. Also, the page will provide a list of banks where you can complete the payment. As mentioned, you can pay using online banking if your bank supports PagoEfectivo. Alternatively, visit a store with a PagoEfectivo sign and pay in person by showing the CIP code. Once the transaction is completed, the system will inform the casino, and you can start making real-money bets.

How to Withdraw with PagoEfectivo?

Unfortunately, PagoEfectivo cannot be used to withdraw online casino winnings, as the system is not able to process such transactions. We recommend checking the casino’s Withdrawal section and using a bank transfer.

Transfer Times, Fees, and Security

Processing times for PagoEfectivo deposits depend on your online casino and the location you made your payment. Typically, it shouldn’t take too much, but you have to keep in mind this method doesn’t provide instant deposits. The money will usually appear in your casino balance within 15 minutes.

PagoEfectivo includes no additional costs. Even if you do encounter them, they will be very low. When it comes to online casinos, they won’t charge any fees for processing your payment. On the other hand, if you use pay through your online banking, your bank may impose certain fees. For more information, contact your bank.

Although PagoEfectivo is primarily a cash-based payment platform, it allows users to carry out payments using online banking. The platform uses SSL encryption to keep everything safe and the data protected. The CIP code, an essential part of the transaction, is sent directly to the user’s email.

Customer Support

You can contact the customer support team via email or using a web form. The site also has an FAQ page that offers a wide range of helpful information, including a step-by-step guide for using PagoEfectivo via online banking.

The platform has a live chat feature, offering a virtual assistant to help you solve any issue, although you can always communicate with a live agent. This option is available 24/7.