The number of EcoPayz betting sites available in India has skyrocketed over the recent years. Founded in 2000, EcoPayz is today one of the leading e-wallets when it comes to making payments at betting sites. Licensed by the Financial Conduct Authority, punters in India are able to take full advantage of what EcoPayz bookmakershas to offer, with payments being both secure and fast. This page will outline exactly what EcoPayz is, as well as how it can be used on betting sites. Below are our recommended EcoPayz bookies for customers in India.
EcoPayz Bookmakers
EcoPayz has been available to customers in India since back in 2010. As such, you’ll have hundreds of EcoPayz betting betting sites to choose from. When making payments in India, fees involved will depend on the specific transaction. Both deposits and withdrawals to and from online betting sites in India are possible. Meanwhile, EcoPayz has recently teamed up with Spark Pay, allowing users in India to top up their ecoAccount quickly and reliably, using a credit/debit card, bank account or online banking.
While the likes of Skrill and Neteller generally dominate the betting scene, EcoPayz is more of an all-round e-wallet. However, this has not stopped an increasing number of operators adding it to their betting site, with EcoPayz having been a reliable method of depositing and withdrawing funds for a number of years now.
What Is EcoPayz?
EcoPayz is an e-wallet payment platform which enables users to send, receive and spend funds across the globe. Available in over 45 currencies, including Indian Rupees, an EcoPayz debit card is also available, called the ecoCard. EcoPayz is owned by PSI-Pay Ltd, who have an excellent reputation when it comes to payment solutions. Regulated under the Financial Services and Markets Act of 2000, EcoPayz is the preferred payment method for many betting customers, due to the fact that your bank card is not stored on your bookmaker account.
How Does EcoPayz Betting Work?
EcoPayz can be used to transfer funds instantly to friends, family and other merchants, including betting sites. Money is both sent and received in a matter of seconds, with only the sender incurring a small fee. Payments can be processed on desktop and mobile with ease, with funds then being available via your ecoAccount or EcoPayz Mastercard.
Signing up at EcoPayz is completely free, with all payments being processed using 2-step verification. Meanwhile, there are five different account levels at EcoPayz, classic, silver, gold, platinum and VIP.
History of EcoPayz
EcoPayz was originally founded in 2000, however it was not until 2008 when the PSI-Pay Ltd owned platform received a license from the Financial Conduct Authority. A year later, EcoPayz became a member of Mastercard, while the EcoPayz mobile app was also launched in 2009. Now available in some 160 countries around the world, EcoPayz was formally one of the first digital wallets around, having initially been known as ecoCard.
Multilingual support was added in 2010, demonstrating their global customer base, while business accounts were supported in 2011. It was in 2013 that EcoPayz took over from ecoCard, while 2014 saw the re-launch of the ecoVirtualcard.
EcoPayz Betting Betting Sites Pros & Cons
As with any payment method, there are both benefits and limitations when it comes to using ecoPayz betting sites. Based on our experiences, the following are the main pros and cons of ecoPayz:
Pros
- Quick Payments – Both deposits and withdrawals at betting sites made using EcoPayz are processed quickly. Deposits will most likely be instant, while withdrawals generally take under 24 hours too.
- 24/7 Support – Support is available day and night at EcoPayz, as well as in a variety of languages. Communication is available via both email and live chat, with the latter being hugely efficient.
- Easy to Use – Both signing up and making payments at EcoPayz is simple. This cannot be said of all e-wallet style platforms, so this benefit should not be overlooked by potential users.
Cons
- Fees – As we have already mentioned, some payments made via EcoPayz will incur a fee. We will look into this in greater detail later on, however this is something that comes as a disappointment.
- Identification – Some users have mentioned that they have been asked to upload multiple forms of identification when using EcoPayz. While you could say that this shows how seriously security is taken, this is a frustrating process for customers.
How to Deposit and Withdraw Using EcoPayz
Unlike some payment methods, both deposits and withdrawals are possible on EcoPayz betting sites. So, if you are looking to learn more about exactly how to process such payments, the following step by step guides are perfect.
Deposits:
- The first thing to do is to sign up for an EcoPayz account. Known as an ecoAccount, this can be done on their website or mobile app. We will talk you through this process further down this page.
- Having done so, add funds to your ecoAccount using your preferred method of payment.
- Log in to your betting site account and enter the cashier section.
- Select the deposit option and enter the amount you wish to deposit.
- Select EcoPayz as your preferred method of payment.
- On the pop up page, enter your EcoPayz account details and click submit.
- In just a few seconds, funds will be available in your betting site account.
Withdrawals:
- Enter your chosen betting site and enter the cashier page once again.
- Select the withdraw option and enter the amount you wish to take home.
- Select EcoPayz as your chosen method of withdrawal.
- Enter your ecoAccount details at the relevant window.
- Click or tap on the submit option to confirm your withdrawal.
- Your withdrawal will likely be processed in under 24 hours.
Is Sports Betting EcoPayz Safe?
Whichever payment method you choose to use when operating at sites for sports betting online, the first question to ask yourself is it safe? However, you can rest assured that EcoPayz is 100% reliable in this area. State of the art 256-bit Secure Socket Layer (SSL) encryption technology is used to keep all personal and financial information safe, while the fact that the e-wallet is licensed and regulated by the Financial Conduct Authority is another demonstration of their trustworthiness.
EcoPayz also meets industry standards when it comes to payment card security and data security, with regular tests ensuring that they stay on top of their game. EcoPayz also follows rules set by European Data Protection Standards, meaning that punters in India can take advantage of their services without worrying about their safety.
How to Open an EcoPayz Account
Before you can start making payments via EcoPayz, customers must first sign up for an account with the provider. So, in order to open an ecoAccount, follow these simple steps:
- Enter the EcoPayz website or download the EcoPayz app.
- Click or tap on the “Sign Up” option, located in the top-right hand corner.
- Enter the relevant personal details, including your full name, email address, location and preferred currency. Choose a username.
- Enter the CAPTCHA code in the respective box and accept the terms and conditions.
- Confirm the process by selecting the “Create Account” box.
- Verify your account via email and upload an accepted form of identication (passport, bank statement or utility bill.
- Add funds to your new ecoAccount using a debit/credit card or bank account.
- You are now free to deposit and withdraw funds on your betting site using EcoPayz.
EcoPayz Fees
One of the few negative points surrounding EcoPayz is the fees involved. Those funding their ecoAccount via a bank transfer may incur a fee of up to 8.5%, however it should be known that payments made between two ecoAccounts are free for Gold, Platinum and VIP members. Silver account members will be charged between 1.69-6%, while there is a potential conversion rate of up to 2.99% for classic account holders. Finally, those who’s ecoAccount is inactive for a period of 12 months will be charged $1.5 per month.
Alternatives to Betting with EcoPayz
While EcoPayz is gaining in popularity when it comes to transferring funds to and from betting sites, there are some alternatives worth considering too. If you are not completely sold by what you have read regarding EcoPayz so far, you try different options. Recommended alternatives are Paytm betting sites or crypto bookies, which you can read more about on their respective pages.
Tips for Using EcoPayz
No matter what your betting strategy or budget is, there are some important things to take into account when using EcoPayz to fund your activity. With that in mind, we have put forward the following EcoPayz tips, designed to help you get the most out of your experience:
- Inactivity – After signing up at EcoPayz, make sure that you use it at least once per year. After a period of 12 months of inactivity, customers will be charged 131.90 INR per month.
- Fees – Take into account the different fees involved with using EcoPayz, particularly in terms of how you add funds to your ecoAccount. Aim to use the most cost effective procedures where possible, as this will save you a significant amount in the long term.
- Betting Sites – Once you have decided to sign up for an ecoAccount, be sure that your chosen betting sites accept EcoPayz as a method of payment. Otherwise the whole process will have been a waste of time and you will have to find an alternative.
- Limits – Those with a classic ecoAccount will be able to deposit a minimum of 34 INR, while the maximum deposit amount is likely to be around 17,586.73 INR . However, these amounts increase as you rise up the different EcoPayz levels. As such, those with larger budgets should potentially consider becoming a Gold, Platinum or even VIP member.
- Mastercard – Consider signing up for an EcoPayz Mastercard, which help customers in managing their spending and top up your ecoAccount from anywhere, at any time.
Bottom Line on EcoPayz Betting
The development shown by EcoPayz over recent years means that it is now one of the most appealing payment methods for betting customers living in India. With payments being available on both desktop and mobile, 24/7 multilingual customer support having been offered and transactions being processed easier and quicker than ever before, we certainly recommend checking EcoPayz out for yourself.
Fully licensed and regulated and 100% safe, EcoPayz offers a host of services and features, with many being tailored specifically towards online merchants, including betting sites. EcoPayz is now able to compete with other e-wallet platforms, such as PayPal betting sites and Skrill, with its only limitations being the fees involved.
FAQ’s | EcoPayz India Sports Betting
Is it safe to use ecoPayz for sports betting?
Yes! ecoPayz is fully licensed and regulated, while a host of security measures are in place too. As such, there is never any risk of your details falling into the wrong hands, with SSL encryption technology and firewalls guarding against third parties and other fraudulent activity.
Do I Have to verify payments when using ecoPayz?
2 step verification is used when processing payments at ecoPayz. Meanwhile, a valid form of identification is also needed when signing up for an ecoAccount.
Will there be any fees added when I use ecoPayz?
Some payments using ecoPayz will incur a fee. We have discussed this in detail on this page, so be sure to take this into account when signing up and making payments in this way.
What do I do if my payment is declined?
Payments made via ecoPayz are only declined if there is a valid reason. So, ensure that your ecoAccount has the necessary funds before depositing on your betting site, whilst also making sure that all of your details are entered correctly.
How long time will it take before my deposit is received by the betting site?
Deposits at betting sites made using ecoPayz are instant, meaning that customers can quickly take advantage of appealing markets and odds.
How long time will it take before my withdrawal is received from the betting site?
Despite not being instant, withdrawals using ecoPayz are generally processed in under 24 hours, however this does differ between betting sites.
Arjun Jindal | Last Modified: September 13, 2022
