EntroPay is an innovative venture by Ixaris Systems. EntroPay clients can make purchases online using the EntroPay Virtual VISA card. This system is fully legal, and the Financial Services Authority of the UK has certified that Ixaris Systems Ltd has permission to issue electronic money to EntroPay.
Despite common misconception, the EntroPay account is not a bank account. It is not possible to set up a direct debit, or issue cheques, however the EntroPay issues each client with an EntroPay Virtual VISA Card. This card operates very similar to a regular VISA card for all online transactions. The Visa Corporation recognizes the EntroPay Virtual VISA card as a ‘VISA Classic Debit’ card.
The EntroPay Virtual VISA card is available in every country around the world. The EntroPay Virtual VISA Card can be used at any online outlet that accepts VISA cards. The EntroPay account is not linked to a bank account, and it is managed by a management system used for online cards. The prepaid EntroPay account accepts fund deposits from any regular debit or credit card. The account has no associated financial charges or interest charges; however there is a charge each time an amount is loaded on the account. Since it is a prepaid account, it is impossible to spend more money than is present in the account.
How does EntroPay Work?
Registering for an EntroPay account is simple and costs nothing. The potential cardholder opens an account by filling a form and choosing a username and password. The website also requires the client to enter credit or debit card details. The details are then verified, and the account is setup and will be ready for use as soon as money is loaded on to the card.
Like a normal credit card, each EntroPay Virtual VISA card has an associated credit limit. When a purchase is made online, the transaction is reflected in the EntroPay account within four working days.
When used online, the EntroPay Virtual VISA card operates similar to any other regular online credit card transaction. Each customer is provided with a card number, expiry date and a CVV which must be entered at the merchant’s website at the time of making a purchase. By using an EntroPay card, it is possible to make a purchase without revealing personal information to the merchant site, making it safer than regular credit cards. It is possible to hold more than one EntroPay account per person, and alternate between them while making purchases.
EntroPay Pros and Cons
Since the EntroPay Virtual VISA Card operates like a regular VISA card, there is a high risk of the card transaction being rejected when it is used in an online casino. Despite this one minor drawback, the EntroPay still remains one of the best ways to transfer money online. Since the account is prepaid, there is virtually no chance of your card application being declined. This means that it is possible to possess an EntroPay Virtual VISA card in spite of having a bad credit rating. The fact that the card is prepaid also means that the amount you spend will necessarily have to be within your means, and it is impossible to overspend. Another big plus point for the EntroPay account is that it provides you with anonymity while making online purchases.
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