Best of 2012: Best Payment Methods

It feels like we report about a new payment method every day, thanks to the constant stream of e-wallets, cash cards and localized payment options that are now available to the average punter.

2012 has been a big year for online casino payment options, with the most notable development being an increased focus on security and privacy. We sat down and selected the most notable developments over the past 12 months.

Ukash: Anonymity reigns supreme

Ukash remained of the most popular options for online gamblers during 2012, thanks to its promise of complete anonymity. This company offers an alternative to traditional online banking, by providing a simple, cash-like deposit method that excuses users from having to submit personal or banking information entirely.

Skrill name catches on

Last year we reported on Moneybookers' rebranding under the name Skrill. Now Skrill has become a household name in its own right, with this popular gambling payment method gaining attention for its customer friendliness and simplicity.

As with rival Ukash, Skrill focuses on customer privacy and confidentiality, providing a secure gateway to deposit and withdraw funds to and from an online casino account. It allows users to send money via email from a credit/debit card or bank account. Once registered, all that is needed for future transactions is an email address.

Paypal issues challenge

Paypal is the world's largest and most successful online payment processor, so any article about the best payment methods would be incomplete without a mention. This e-commerce giant renewed its services to online casinos in 2010 after the industry proved stable enough to support it, and it really took off as an option in 2012.

Most top online gambling operators now offer PayPal as an option. The service allows anyone to deposit or receive money using their preferred option - including credit cards, bank accounts, or PayPal Smart Connect. PayPal allows users to do this without sharing any financial information with operators.

Rise of the local payment option

2012 has seen a big swing toward local payment options, with new methods springing up in every corner of the globe. Each method caters to players using specific languages and living in specific countries. For example, there are cash payment methods like Baloto Electronico, which is offered by Pagos Online and can be purchased at participating retail stores in Colombia.

Credit cards still number one

Visa, MasterCard and other credit and debit cards are still the most popular form of payment, probably due to the fact that most casino customers already own at least one card and trust them for their commitment to security. On the other hand, many casino-goers prefer not to reveal financial information to operators, hence why they choose from the options above.