This payment system has relied on making it easier to pay for goods and services in countries where people have limited access to online banking. The number of users Brazil, Mexico, Chile, Argentina, and Peru has exceeded 100 million. Among other things, the system is suitable for depositing in online casinos.The principle of work
Unlike PayPal and other popular payment systems, in Boleto you cannot send money directly from your online wallet. When making a payment, all data are indicated on a special ticket, then with this ticket, you need to go to the bank and make a transfer there.
In the bank itself or any other financial institution that cooperates with the payment system, the accuracy of the payment is checked and then you simply give the money to the cashier. This looks a bit like a standard bank transfer, but you will not need to spend time on writing the bank details of the recipient. You just need to print out the special form and give cash to the cashier when the form is approved.
The scheme may not seem very convenient, but it covers more than 2 billion transactions a year. Moreover, this number is constantly growing. In Brazil, the payment system covers about a third of all financial transactions in the country.Advantages and disadvantages
This payment system has become so popular because the banking system is not very developed in Brazil, Mexico and other countries of the region. People simply do not have credit cards, that's why they prefer the system that offers options for them. The advantages of the system are:
- Online payments have become available to a large number of people. It works even for those who do not have accounts in banks or online purses in different payment systems;
- High reliability. You do not need to enter your data on third-party sites;
- Anonymity for users.
However, there are many disadvantages:
- If you pay off the ticket through the bank, then you will have to wait for at least 3 working days;
- It works only on tickets. The already printed ticket cannot be spent to pay for anything else, the payment destination is indicated on the ticket. Every time you have to re-create a payment, it's inconvenient;
- You can spend only the amount indicated in the ticket;
- In the case of casinos, work is only possible in one direction. You cannot withdraw money from the casino using Boleto (including money from free spins and deposit bonuses).
As a result, the attractiveness of the payment system outside of Brazil and the surrounding countries is greatly reduced. Many users decide that they can always open a purse in another payment system and pay for everything they need online right from the special wallet without tickets and banks.What are the final thoughts about Boleto
If you live in Brazil, Mexico, Chile, Peru, Argentina, then this system is definitely useful for you. Banks of these countries work with this payment system effectively, and the significant share of financial transactions is conducted through it.
The argument against the payment system is the number of casinos supporting this method of replenishment. A total number is about 10-15 casinos, which is relatively small. If you are not a resident of one of the countries listed above, then it is probably better to consider other ways of depositing the account in the casino.