Venus Point is a Japanese-based electronic financial platform that enables the making and acceptance of different payment types to and from third parties. This is a well-known instant payment method, popular primarily in the Asian market. Venus Point is facilitating punters to make online deposits and easily withdraw winnings without needing to use any credit or debit card.
Venus Point is a preferred eWallet in Asia as it is very flexible and offers attractive financial incentives, such as collecting points. The service users may be collecting points from the merchants that accept the service and decide to convert into local currency (the default currency is US dollar) as a cash payout. The maximum amount of “Point Back” the user can gather is 20,000 per month to enable seamless and fair user-merchant transactions.
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Venus Points enables service users to receive the change from the retailers in the form of the points instead of cash. They can then use these points to make other purchases, or even request withdrawal to a bank account, for example. The points are collected for every single purchase, and each point is worth 1 US dollar.
To collect your points, just visit the merchant’s account section, and the points will soon be at your Venus Point account. To send points, apply for the payment first. The Venus Points will transfer the points to the store.
The website is available in both Japanese and English, and anyone can submit the registration. However, the company may decide to deny or limit services at its discretion.
Venus Point, a Payment Method
The company calls itself a “stored-value” payment service provider. It acts as an “agent” between the client and the merchant (sender/receiver of the money), performing the task the service users initiate. Venus Point is not a bank or a financial institution that takes and stores deposits.
If you have a Venus Point account with a certain amount on it, the Venus Point will join the funds together with the funds from other users. Then they place them in bank accounts in one or more “deposit-taking” financial institutions.
When you remit the payment via the service, you remain these funds’ owner until the recipient has accepted the transaction. In case you are the receiver of the funds, you appoint Venus Points to carry on this transaction and credit the money into your balance. You can also ask for the reimbursement of the funds stored with Venus Points. You will receive your money, but Venus Point may charge service fees.
Venus Points services use US dollars. If you wish to top-up using any other currency, Venus Points will first show you this currency value, the exchange rate, and the costs that may apply if you wish to finalize the transaction.
The registration process is easy. Just provide and confirm the email, and your registration URL will soon be emailed to you. Then just fill out the form with all personal detail, and agree on terms and conditions. Click register, and you’ll be redirected to a page confirming your account has been opened, with your login ID. However, to finally be able to use the service, you will be emailed one more time with a one-time password.
How to Deposit via Venus Point?
To deposit funds into your gambling account using Venus Points is easy. Head to the live casino’s payment page, and find and select Venus Points as your depositing method. You will be asked to log-in using your user ID, email, and password. Then decide on the amount and confirm the transaction.
How to Withdraw with Venus Point?
Withdrawal is also straightforward. Find this payment option, log-in, and enter the amount for withdrawal. Then decide whether you wish to use these funds for other transactions or transfer them to another account.
Be aware that all previous transactions (including the deposit) have to be fully completed before initiating any other transaction. Venus Point keeps all the funds together until the final verification of all previous actions and approves a new transfer once everything else has been successfully cleared.
Transfer Times, Fees, and Security
To send and receive points/funds from the authorized merchant, select the Venus Point at the merchants PoS. This service is free. Another incentive is that the more you use the system, the more points you earn. For every 500 points you transfer, your account will be “heavier” for additional 2.5 new ones.
If you wish to change the currency, you will have to pay a fee of 2.9 points for every 900 points you want to exchange.
Venus Points says they are trying to ensure that all the credit and debit cards involving bank accounts are made on time. However, they do not represent or guarantee the time needed for these transactions to be cleared. An inability to provide a timeframe for depositing and withdrawal processing time is a disadvantage.
If you wish to withdraw the money to some other account, Venus Points will charge applicable fees for processing this request. The fees are charged in US dollars, and the company reserves the right to change the policy at any time without prior notice.