DineroMail is the leading payment platform in Latin America, and covers online payments for customers and retailers in Argentina, Brazil, Chile, Mexico, Peru, Colombia and Panama.
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Here is a break down of what each casino that offers DineroMail as a payment option can provide you with:
DineroMail was founded in 2003 by a small selection of internet entrepreneurs who had experience in the financial sector. Their aim was to create an online payments system for customers in South and Central America to allow them to successfully manage their financial transactions online, and to link their credit cards to an online payment system. Despite this focus on Latin American countries DineroMail was originally a US company with a base in Argentina.
Over the next decade or so they established themselves as a leading payment gateway for online payments in the seven countries they provided services for. Credit cards that are issued in Latin America are typically not accepted outside of the country for which they are provided – in fact less than one in five are – and less than 20 percent of internet users in Latin America have access to international credit cards.
In 2011, DineroMail was bought by Naspers, a South African media company who already operated PayU, which is another internet payments company that offered services to South Africa, Nigeria, Kenya, India, Turkey and Russia. Following the acquisition of DineroMail, the company was rebranded as ‘DineroMail by PayU’.
In October 2014 it was announced that DineroMail was to be rebranded again as ‘PayU Latam’, the ‘Latam’ part being an abbreviation for Latin America.
A DineroMail account actually serves as a gateway to other popular payment methods in Latin American countries. The post common online payment methods in the region are Visa, Mastercard, American Express, Boleto Bancario, 7-Eleven and PagoFacil. Customers can also fund any online payments via a bank transfer or the direct eWallet solution that DineroMail provides.
If a customer chooses to pay using their credit card (remember that around eighty percent of online merchants around the world will not accept credit cards that are registered in Latin America counties – DineroMail acts as a ‘buffer’ between the credit card and the international merchant) they are required to fill in the details of their card, and personal details for identification purposes, including their name, date of birth and telephone number.
Once the transaction has been approved, DineroMail will take the amount specified from the customer’s credit card. This amount is then passed on to the retailer.
If a DineroMail customer does not wish to use their credit card, they can fund their online payment activities by maintaining a DineroMail eWallet, just like other eWallet service providers such as PayPal, Skrill and Neteller. This account can be funded by direct bank transfers. Just under two million individuals hold eWallet account as DineroMail.
Currently, DineroMail is only available in the following Latin American countries:
Argentina, Brazil, Chile and Mexico, Peru, Colombia and Panama.
There are plenty of online casinos that are happy to accept DineroMail transactions, mainly as it is recognized as the most convenient way for online gamblers who are based in Latin American countries to enact online transactions.
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