Last updated: 1 June 2021
WebPay Plus is a payment platform powered by Transbank, a leading credit and debit card processor in Chile. WebPay Plus is also one of the most common payment methods at online casinos in Chile. The reason is simple. WebPay Plus allows Chilean gamers to make online casino deposits with various bank cards in local currency. It is also a fast casino deposit method that supports a popular Redcompra debit and prepaid card. Ideal solution for those who don’t have a bank card or bank account.
Essentially, it’s a payment gateway or middleman between your bank card and the casino. WebPay Plus is, therefore, a safe casino banking method that protects your sensitive data. It means that it doesn’t share your banking details with an online casino. So, it seems like WebPay Plus ticks all the right casino banking boxes. Local currency, speedy deposits, secure transactions, various credit and debit cards to choose from. But is there a catch?Well, you’ll need to keep reading to find out the answer. And believe us, the CBM team analyzed WebPay Plus thoroughly to bring you a detailed report. Here we go.
Transbank S.A. was founded in August 1989. A group of eight banks joined forces to create the Sociedad Interbancaria Administradora de Tarjetas de Crédito SA, which would later become Transbank. In 1990 Transbank started working with the first local Visa credit card issuer and offered Diners Club cards. A year later, it enlarged its network of stores to 35,000 and started issuing Mastercard and Magna cards. In 1992 the company introduced Transnet, an online security system that protects transactions and makes them faster. The first debit card entered the Chilean market in 1995 through the Checkline brand.
A new debit card brand, Redcompra, was launched in 1999 as a pilot project. Then in 2000, Transbank rolled out Redcompra and WebPay online payment platform nationwide. Finally, in 2008, WebPay Plus was introduced as a B2B solution to bolster internet sales. Continuing the success, Transbank also developed and launched several other products. Some of them are Pinpass, WebPay.cl, Smart POS, Cobro QR, and prepaid Redcompra.
However, Transbank was accused of monopoly. The bank was acting both as an issuing and acquiring bank. It means it was issuing credit cards to customers and processed their offline and online transactions. But, at the same time, it was an acquiring bank that maintains the merchants’ bank accounts. Simply put, it was partnering with merchants to accept credit card payments that allow Transbank to charge processing fees. Clearly, Transbank was offering a unique “end-to-end” service, which is not permitted.
The Chamber of Deputies requested an investigation by National Economic Prosecutor’s Office. Transbank lost its monopoly position in 2016 when Multicaja, a Chilean payment service provider, entered the credit and debit card payment market.
Transbank is one of the most important financial institutions in the LatAm region. As a Chilean company, millions of Chileans use its services daily. So, the main and the only target market is obviously Chile. The bank is authorized to processes bank cards both offline and on the Internet through its WebPay gateways. Alongside WebPay that facilitates online transactions with credit and debit cards, Transbank also has several other financial products.
One of them is WebPay Plus, a B2B (business-to-business) solution that allows merchants to accept online transactions with bank cards. In other words, merchants can implement WebPay Plus on the website to start processing online transactions. The end-users can use the service to pay online using bank cards.
Obtain a credit or debit card supported by WebPay Plus
The main requirement you need to fulfill to top up casino balance through WebPay Plus is to have a valid bank card accepted by the service. One of them is Redcompra. Redcompra is a popular payment brand managed by Transbank. There are two options, Redcompra debit and Recompra prepaid card. The prepaid card was designed to reduce the use of cash. Also, players who don’t have bank accounts can quickly credit casino account with this prepaid solution. Besides Redcompra, WebPay Plus accepts Visa, Mastercard, American Express, and Diners Club. Finally, you can pay online through WebPay Plus with another local credit card brand, Magna card.
Make secure online payments
WebPay Plus is a payment gateway that only acts as an intermediary between your bank and the casino. All transactions are handled within your secure internet banking ecosystem. So, it works similarly to a digital wallet. But, instead of funding the wallet, you simply have to enter bank card details affiliated with Transbank. However, you are not linking the bank account directly to the merchant as WebPay Plus facilitates the process. The service supports transactions in local CLP (Chilean pesos) and USD.
Okay, so we have learned the basics. It’s time to cover the crucial segment, how to make a WebPay Plus online casino deposit. You’ve already figured out that you’ll be using credit and debit cards to top up your casino balance. So, WebPay Plus deposits are similar to any other online transaction you’ve ever made with a bank card. Let’s check out if depositing with WebPay Plus is smooth or complex.
- Visit the casino and log in, or sign up if you already don’t have an account.
- Open your profile and go to the “Deposit” section to see all the deposit methods available in your account.
- Look for the WebPay Plus logo and click on it. WebPay Plus will offer you to select the credit or debit card you wish to use to deposit funds.
- Enter the exact amount you want to transfer, bank card details, CVC code, and click “Confirm” or “Next.”
- You will be redirected to your internet banking interface to log in and confirm the payment request.
- The bank will send you a PIN code in an SMS to verify the deposit.
- That’s it. You’re good to go.
Speaking of WebPay Plus withdrawals, we have to disappoint you. The system is not configured to accept withdrawals. It means that you’ll have to check out the alternatives. In most cases, it will be a bank transfer.
One of the trustworthy online casinos that welcomes gamers from Chile is Betsson. The casino doesn’t charge anything for WebPay Plus deposits. Still, as a payment service that involves banks, you may encounter fees. Betsson states that banks may charge a $0.60 or $1 fee for deposits.
As for WebPay Plus, Transbank charges business that integrates and uses the service. The maximum credit card rate is 2.95% + VAT, and the maximum debit card rate is 1.49% + VAT. If currency conversion is involved, the exchange rates range from 0.05% to 2.40% for credit cards and from 0.05% to 1.15% for debit and prepaid cards. However, we aren’t 100% sure how all these percentages affect players. The only way to find out is to visit the casino’s banking page and read the fine print.
Direct payments with bank cards through payment gateways such as WebPay Plus ensure instant deposits. However, Transbank says that transactions with Redcompra cards are processed within 24 hours. Payments with other credit cards are handled within 48 hours. At the moment of writing the review, we couldn’t confirm if online casino deposits are really immediate or there are delays. We, therefore, advise you once more to visit the casino and contact customer support for detailed information.
As for withdrawals, we’ve said earlier that the service doesn’t allow you to cash out winnings. So, in the case of Betsson, the casino says it processes withdrawal requests within 24 hours. If you select bank transfer to withdraw the money, you’ll wait 2-5 business days to receive the funds.
WebPay Plus deposit limits are within the industry standards or even a bit lower. We are sure gamers from Chile are happy to hear this. At Betsson, for example, the minimum deposit ranges between $5 and $10, which is more than acceptable.
At the same time, you’ll need to select another withdrawal channel. At Betsson, if you pick bank transfer to collect funds, the minimum withdrawal amount is $20.
WebPay Plus allows Chilean players to securely use their credit and debit cards online. We’ve mentioned earlier that all transactions are processed within your familiar online banking ecosystem. WebPay Plus, therefore, employs the highest security standards applied by the banks. WebPay Plus acts as an umbrella or a shield that protects all your sensitive data from unauthorized access. It combines end-to-end encrypted protocols established by the banks and the speed and convenience of digital wallets.
Transbank S.A. is a Bank Business Support Company that complies with the General Banking Law. Moreover, Transbank is a payment card operator established in accordance with the Constitutional Organic Law of the Central Bank of Chile. The Financial Market Commission supervises the payment service provider. Moreover, the General Banking Law regulates Transbank’s operations. In other words, Transbank is monitored by the government.
If you need to contact Transbank, you can visit the help page that is neatly designed and easy to navigate. The topics are split into categories, so you won’t have a problem finding what you need. Still, if the answer to your question isn’t there, you can send an email to [email protected], or call a landline number 600 638 63 80. The cell phone number you can dial is (+56 2) 266 127 00.
The quickest and most convenient way to reach out to a support agent is via live chat. To initiate the chat session, enter your name and RUT (Rol Único Tributario), your Chilean tax ID number. Live agents are at your disposal from 9 a.m. to 8 p.m.
WebPay Plus is a payment platform that enables quick and safe online casino deposits with credit and debit cards. Therefore, it’s accepted at all casinos venus that welcome players from Chile.
Chilean gamers are pleased to use WebPay Plus as a casino banking method. They already gladly use it for other everyday online transactions. Those who have credit or debit cards are happy to safely and quickly deposit funds with their bank cards. But without a need to disclose personal and financial data. Players appreciate the fact that WebPay Plus is an intermediary that facilitates transfers while ensuring maximal protection. Moreover, they are satisfied with the service speed and convenience. Also, Transbank is a household name in Chile that offers several other popular payment solutions.
However, the main downside of WebPay Plus is that you aren’t able to make withdrawals. We hope this will change soon.
Transbank is mainly a B2B oriented financial institution. It develops and offers various banking services and products tailored to fit the merchant’s needs. So, as an end-user, you won’t benefit from some significant value-added services. However, Transbank has several solutions linked to the WebPay platform that bring additional value to consumers.
If a merchant integrates the WebPay Plus button, it will create predefined forms for each item you wish to purchase. The button will lead you directly to the item with all necessary fields populated automatically. Hassle-free shopping. Another convenient solution is WebPay Oneclick. It facilitates fast transactions without the need to enter credit card details for each transaction.
WebPay Plus is a banking service merchants integrate on their websites. It allows them to accept credit and debit card payments from their clients. So, there is no dedicated mobile app for you to download and launch to pay with WebPay Plus. You can deposit funds at online casinos that partnered with Transbank and connected their sites to its systems.
- In 2003, the Great Place to Work Institute (GPTW) listed Transbank among the 25 best companies to work at in Chile.
- The following year (2004), Transbank was in 2nd place in the GPTW ranking.
- Transbank introduced the "Redcompra gives you back" business model in 2006.
- A year later, in 2007, the bank was PCI (Payment Card Industry) certified.
- Redcompra was proclaimed the fastest-growing payment method in Chile in 2009. The following year, Redcompra doubled the volume of transactions processed through the debit card.
- In 2010, Transbank was 1st on the GPTW ranking. So, it wasn't just the great, but the best place to work in Chile.
- The antitrust regulator Tribunal de Defensa de la Libre Competencia (TDLC) accused Transbank of charging abusive fees to affiliated businesses. It ordered the bank to set new rates based on the number of transactions and not by categories that discriminated merchants. Also, the court ordered Trastbank to separate payments processing from payments acquisition.
- Banco Santander Chile, the largest bank in the country, terminated the association with Transbank in 2019 due to its monopoly position.
WebPay Plus is an online payment system that allows direct payments with credit and debit cards. It doesn’t require you to set up an account. You only need a valid bank card. All transfers are carried out through a secure gateway that utilizes high-security banking protocols.
The platform accepts several international brands such as Visa, Mastercard, and American Express. But, it also processes payments through local bank card brands Redcompra and Magna card. You can use Redcompra debit and prepaid cards.
No, you can’t. The service is developed exclusively for players from Chile. Such an approach brings a significant benefit as you can use Chilean pesos to make online casino deposits. So, no currency conversion is involved.
Unfortunately, we will have to disappoint you. WebPay Plus platform still doesn’t support two-way transfers. You will have to choose an alternative channel like bank transfer.
Online casinos don’t charge anything for WebPay Plus deposits. But, Transbank charges merchants for using its services. These rates vary and depend on the service. The maximum credit card rate is 2.95% + VAT, and the maximum debit card rate is 1.49% + VAT. Always visit the casino’s banking page to double-check and contact customer support for more details.
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