Boleto Bancario Casinos

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Introduction

Marketplaces across the world have all set a different pace when it comes to adopting the new and innovative ways of doing business. This depends largely on the level of overall development in the country, their natural resources, economic potential and thus, the ability to grow and expand.

The tech revolution...

...has gradually gained grounds in countries globally, but to a different extent. While some of them have already applied the numerous advantages to everyday life instances, others have been more reluctant towards adopting the same practices. It could be due to various factors, but the lack of trustworthy services, reliable security and support, and overall accountability are among the top causes.

In order to bring these regions in line with the rest, local investments and businesses have introduced a range of services. In the sphere of banking and financial management, residents of these regions can nowadays benefit from all kinds of locally based companies and services.

In Brazil, specifically...

... a similar situation has brought about the birth and development of one of today’s most popular payment options for Brazilians everywhere.

About the Payment Method

This banking service, famous all over Brazil, is Boleto Bancario. It is a payment method that services any individual with a Brazilian CPF tax number, allowing them to perform all kinds of transactions, payments and money transfers to other individuals or partnering merchants.

The service initially started operations...

...back in 2000, when they launched their primary and most recognizable product, Boleto Direto. It was intended as a payment system where users, i.e. customers were able to access merchant websites, fill in the boleto (bank slip, bank ticket) and pay it.

This type of payment processing has enabled the company to eliminate a great deal of risk factors and gain the trust of its target audience. Practically, they provided a simple pro-forma invoice issuing service. It was available for integration to all major e-commerce, online retail and other service providing platforms through various methods (direct API, payment link, payment page).

This invoice, or simply put, ticket, is virtually generated whenever a user clicks to pay for something using this method. They get the invoice with the prefilled positions that are familiar to the e-merchant and complete the missing pieces of information.

Afterwards, all they have to do is choose how to pay the ticket. The first option will normally be familiar to users, as they have most likely already used their online banking. As for the other, users are supposed to print out the ticket with all its information, and a 44-digit bar code at the bottom (containing the same info). This ticket can then be paid in cash or otherwise acceptable, at the number of retail locations, banks and ATMs intended for this purpose.

Bear in mind...

... that this payment processing company did not stop here. In 2014, they additionally released the Boleto Facil platform, primarily intended to facilitate the process of receiving payments. Today, both individuals and legal entities are able to record, preview and receive payments from others through a single point.

Around the same time, they became part of EBANX, another Brazilian company that grew particularly successful in processing payments to international merchants. Boleto Bancario are already regulated by the Brazilian Federation of Banks (FEBRABAN), and their inclusion in one of the largest fintech companies in the country only further boosted their credibility.

According to the latest numbers...

... there are over a thousand merchants offering the convenient and beneficial payment method. The service normally processes about 50 million transactions per month, with an estimate of about 40 million users to date. Thus, the company practically covers about 20% of the whole e-commerce banking system in the country.

How to Perform Payments with Boleto Bancario?

Finding this payment method is quite easier these days, as the company has widely expanded their presence across online merchant platforms, especially those targeting Brazilian customers.

In order to make use of this method when purchasing or paying at one of those retailers, it is important to know the proper procedure.

First off...

...even though the method practically translates into ‘bank ticket’, there is no need for customers to open or hold a bank account or credit card in order to perform a transaction. Only the merchant of your choice needs to hold an account with a Boleto-partner banking institution.

Once you choose...

... the item or service for your needs, select it and click on Boleto Bancario to choose it as your own payment method. The merchant, in partnership with their bank, will issue a specific ticket or ‘boleto’, with the prefilled information regarding the platform. You as a customer may be asked to specify the amount of the chosen item, and confirm the payment.

After reaching this step of the process, customers need to make a choice...

... between paying online or through the land-based cash payment points.

The only way you would need a bank account that supports online banking is if you opt for the first scenario. In such a case, users are simply redirected to their online banking interface where they can complete the payment. For the rest, the territory of the county is filled with all kinds of ATM machines, retail, cash points and banks where they can take the printed ticket and pay in cash.

In its paper form, this ticket has a 44-digit code, as mentioned earlier, containing all the information about the payment. Other pieces of information printed onto this slip are the date of issuance, the merchant, and normally your ID information (your Brazilian tax number).

In the end, there is also a date of expiration, marking the end of the validity of the ticket. More specifically, payers who choose to perform their payment before this date will not face any fee charges on behalf of the service. After it, they are bound to face fees for the delay, as well as a charge (from the bank) on processing an overdue transaction.

Boleto Bancario Online Casino Sites

Online casino, and gambling in general, has been experiencing an exponential rise and expansion. This trend is evident in Brazil just as much as any other parts of the world and online operators targeting Brazilian players have put in a lot of effort to adapt their services to the specific needs of the market.

Most operators tend to put emphasis on their software and game selection, bonus offers and VIP programs. While these factors are no less important for Brazil-targeting operators, the matter of processing payments definitely lacked some local and market-specific options.

Soon after the appearance of Boleto Bancario, the online gambling operators integrated it to their platforms. While they may have used different integration tools, each of the platforms experienced a rise in player numbers, as well as overall satisfaction rate.

Depositing with Boleto Bancario at Online Casinos

The process of making a deposit with this payment option at online casino sites is more or less the same as with any merchant partnered with the service. A notable distinction is the fact that players don’t pay for any service or product – they are practically transferring funds from one place to their online casino e-wallet.

It’s a step-by-step procedure which, if followed closely, should get you ready for gameplay in no time:

1. Check for the payment method’s availability at your chosen casino. While most casinos intended for Brazil-based players have already adopted Boleto, it is still recommendable to check.
2. Log in to the platform, or register for an account if you’re a new player, and head to the Cashier/Banking section, where you need to click on the Boleto Bancario icon.
3. A pop up window will show up with the pro-forma invoice, or rather, banking ticket, prefilled with the familiar information. At this point, you will need to complete it with some of your own info – personal tax number, amount of funds transferred and some basic personal details.
4. Ultimately, you are given the choice between printing out the ticket and getting a virtual version of it. It will contain the current date of issuance, and an appropriate date of expiry. Take note of these elements in order to avoid paying unnecessary fees. After you’ve made up your mind, just select the specific option.
5. If you choose to pay the invoice in cash, click to print it out and take it to one of the numerous locations across the country which accepts such payments – banks, ATMs and retail points. Otherwise, choose to proceed with an online payment and select your bank – you will be transferred to the online banking platform. Here, all players need to do is complete their familiar online banking transaction procedure and confirm it.

Requesting Withdrawals using Boleto Bancario at Online Casinos

So far, the payment method hasn’t been open to accepting withdrawals from online casino sites. This may be a setback for some of the players, but there are normally a range of alternative banking options they can choose from, ranging from direct bank transfers, credit cards, e-wallets and prepaid payment options.

Pros and Cons of Using Boleto Bancario

• Security & anonimity – The service allows for fully secure payments, regardless whether you opt for the online or land-based payment type. You are guaranteed to remain anonymous, both due to the small and rather limited range of information required by the service, and additionally the possibility for traceless cash payments.
• Free of charge service – In itself, the Boleto Bancario service is completely free of charge. They do not require any membership or otherwise fees charges, and hardly impose any limits on the transaction range and amounts.
• Service diversity – Having the option to choose between a cash and online payment is all the more rare nowadays. Hence, this makes players choosing this method all the more privileged.
• Availability – Even if a payment processor offers a cash option, it is often limited to a few select retail locations. In this case, Boleto Bancario’s tickets can be paid in almost any bank in the country, and a rather extensive network of locations. Only after the expiration date will players experience some restrictiveness in this regard.

Admittedly so, the service also has some weaknesses:

• Banks and casino fee policies – While the service does not charge anything for using its payment gateway, the same cannot be said for the other parties involved in the process. As such, banks and casino operators could charge the player for making a payment.
• Transaction processing time – Transactions, more specifically, online casino deposits with this payment method are not instant, as players are used to experiencing. Instead, the suitable bank and operator may take 24 hours, or up to 3 days to process and complete the request.
• Withdrawal restriction – A large number of payment methods have enabled their services for withdrawals exclusively, and this is no exception for Boleto Bancario.
• Country restrictions – The final setback that players normally experience when choosing to deposit or withdraw with this payment method is their own eligibility. As mentioned earlier, the invoice will require that you enter your Brazilian tax number. Meaning, you won’t be able to use it at any casino site unless you are a registered resident of the country.