The money transfer landscape in Canada has continued to grow in recent years. Findings from Payments Canada reveals that online money transfers via Interac e-Transfer and PayPal increased by 14% between 2022 and 2023. Research also projects a 9.48% increase in digital payments by 2028, with the total market volume expected to reach a remarkable $249 billion.
These statistics highlight the growing demand among Canadians for secure and fast payment solutions. Impressively, companies like Wyzia Financial are revolutionizing how payments are made in the Canadian gambling ecosystem. In the past, players were limited to traditional payment methods like credit cards and bank transfers, which often came with high fees and long processing times. Now, everything is different.
With Wyzia comes a secure payment solution that prioritizes speed, security, and convenience. And the best part is that this payment platform promotes responsible gambling techniques that helps prevent players from adopting unhealthy gambling habits. But there’s more to it. Keep reading as we take a deep dive into all the innovative features that make Wyzia Financial stand out in the online gambling payment space.
Best Wyzia/Gigadat Powered Casinos For Deposits & Withdawals
- Interac by Gigadat
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Wyzia Financial Company Overview
Located in Winnipeg, Manitoba, Wyzia Financial is a medium-sized organization that launched in April 2019. This company has expanded rapidly, partnering with businesses of all sizes to facilitate instant payments between merchants and end users. Despite its young stature, Wyzia is operated by experienced hands. This firm has a collective experience of 50+ years in the CA business landscape. Also, Guy Fietz, Wyzia Financial’s CEO, boasts a strong leadership and entrepreneurship background. He has been the CEO of Gigadat Inc since 2013 and is also the founder of Triton Global Business Services.
Wyzia has also built solid partnerships in the ON market over the years. This company has blossoming relationships with leading brands such as Nuvei and Worldline. It uses a “partner-first” approach, making it a reliable choice when navigating the Canadian regulatory landscape.
Below is some key company information to know:
- Launch date: 05/April/2019
- Location: 2500 – 360 Main Street Winnipeg MB R3C 4H6 Canada
- Corporation number: 11341600
- Business number: 701996084RC0001
- Director: Guy Fietz
- Revenue: $5 million
- Number of employees: 11-50
The Wyzia / Interac Connection And List Of Services
Interac is Canada’s most widely used online banking method. Records show that 9 out of 10 Canadians have used Interac e-Transfer at some point. This means the government needed to do something to level the playing field and promote a more diverse payment ecosystem. To help achieve this, Payments Canada selected Interac to build and operate an RTR (Real-Time Rail) system in June 2023. The RTR system is designed to modernize the country’s payment infrastructure by enabling real-time clearing and settlement for payments. Wyzia and other services like Loonio and Gigadat leverage Interac’s infrastructure to link players to nearly 300 financial instructions countrywide.
With that said, below is a list of payment services provided by Wyzia Financial:
Pay-Ins
Wyzia uses the Interac e-Transfer service to link Canuck players to nearly all registered banks and financial institutions. You can initiate a casino deposit using an email or SMS and enjoy the security of a bank-supported infrastructure. Simply choose Interac e-Transfer on the casino’s cashier and enter your email or phone number to complete an instant and free deposit.
For extra security, this banking method uses Wyzia Secure technology to link gamers to their financial institutions. You must complete a KYC (Know Your Customer) procedure, significantly reducing crimes like money laundering and terrorism financing.
Pay-Outs
As with deposits, Wyzia leverages the Interac e-Transfer system to allow casinos to process withdrawals. You only need to provide a phone number or an active email address to receive casino cashouts in your bank account. In short, Wyzia eliminates the need to provide sensitive financial information when requesting casino payouts.
Wyzia also processes withdrawals using the eCashout option operated by Gigadat Express Connect. To request payouts, users only need to enter a transaction ID, bank ID, and account number. The payments are processed using an Automated Clearing House System (ACH), meaning zero delays.
Note: Online casinos in Canada rarely process instant payouts via Wyzia Pay-Outs or other banking methods. Most will need at least 24 hours to verify the transaction. However, you can be lucky to find a casino that processes payouts within an hour or two.
Wyzia’s Service: “e-Transfer Status”
Wyzia Financial helps you become a more responsible player by using the revolutionary “e-Transfer Status” feature. This function lets you keep track of your past and live transactions. You only need to enter the Required ID on your e-Transfer email message.
FastPlay Payment Solution
The online gambling sector constantly changes to keep up with modern player expectations. In light of this, Wyzia has positioned itself as one of the most preferred banking solutions for Canadian gamers. In November 2022, this fintech company rolled out its FastPlay solution in Ontario, promising to “revolutionize the way Canadian customers play.” So, what is it all about?
This first-of-its-kind solution promises to speed up and streamline casino registration and deposit processes. With FastPlay, operators will no longer need to ask players to provide sensitive information to deposit and play. This ensures faster and more convenient gaming experiences while increasing player retention rates.
Keep in mind that such an approach already works in European regulations like Sweden and Finland. Dozens of no-account casinos in these countries leverage technologies provided by Zimpler, Trustly, and Swish to make gaming more convenient. Casinos use player information on these payment methods to eliminate the time-consuming registration and KYC processes.
Here’s why FastPlay is a game-changer in the Canadian iGaming space:
- It eliminates lengthy casino registration processes.
- Players no longer need to complete KYC processes.
- There is no need to provide personal and financial details to the casino.
- Deposits and withdrawals are processed instantly using the e-Transfer system.
Impact on Ontario’s iGaming Market
One thing is evident—Wyzia Financial is keen to dominate the Ontario iGaming market. After all, Ontario is the most populous Canadian province, with a population of 16 million people. Ontario is also Canada’s only regulated iGaming market and one of the biggest in North America.
In April 2022, the province legally opened its online gaming landscape under the stewardship of the Alcohol and Gaming Commission of Ontario (AGCO). Through iGaming Ontario, this body ensures operators meet the land-down responsible gaming practices. Any operator looking to provide its services must first get the green light from AGCO.
Recently, iGaming Ontario revealed that at least 80 gaming sites are licensed in the province. The report added that the average total spend per player account between April 1 and June 30, 2024, is $284. The regulator also announced a 5.2% revenue increase to $726 million and total wagers of $18.4 billion. Note that the total bet amount doesn’t include bonuses and promotions.
With those stats in mind, it’s evident that reliable payment providers like Wyzia are playing a pivotal role. During FastPlay’s launch in Ontario, Fietz said the payment solution aims to provide convenience while fully complying with regulatory standards.
Wyzia is a regulated company that undergoes regular audits to ensure clarity and accountability. FastPlay also complies with AGCO’s standards of partnering with legal casinos and subjecting players to strict KYC processes. Moreover, playing at a casino offering localized banking services is more reassuring. This is a critical security feature to consider.
Wyzia Financial Inc. Reviews
Now that we know what Wyzia Financial is all about, let’s dig a little deeper into its background and reputation. Presently, there are not many user reviews of Wyzia Financial. That’s because this payment method is still relatively new in the industry. However, based on the services it offers, Wyzia is already a dominant choice for casino players. They have become a de facto cashout solution for players in Ontario using the eCashout service.
Much like Interac, this payment system employs state-of-the-art SSL encryption. The end goal is to safeguard customer information at every step of the deposit process.
It also has a secure verification process, although some users like Taylor Park find the hoops tiring. However, this is a little price to pay for the high level of security that Wyzia Financial offers.
Overall, you can rely on Wyzia Financial for timely casino withdrawals, though your experience may vary depending on the casino you choose. To ensure smooth payouts, it’s important to choose a reputable Wyzia powered casino. Later in this guide, we’ll share some top recommendations to help you avoid delays and enhance your overall experience.
Wyzia Financial Support Options
Wyzia Financial offers 24/7 customer support to assist with any inquiries. However, one area for improvement is the lack of live chat support. To contact their support team, Wyzia requires you to fill out an on-page contact form. Simply open the “Get In Touch” page, then enter your email, name, topic, and message. Once submitted, the request is forwarded to Wyzia’s support team who will respond via email.
Here are Wyzia’s support methods:
- On-page contact form
- Email: info@fastplay.com (Ontarians using FastPlay)
It’s also worth mentioning that Wyzia is active on social media, which is good for transparency. You can message the company on their LinkedIn, Facebook, or Instagram accounts or leave a comment. As expected, Wyzia is more active on Instagram and Facebook. However, use the on-page contact form for instant replies.
Top 3 Canadian Casinos Powered by eCashout/Wyzia
Playing casino games online in Canada should be fun, entertaining, and rewarding. However, things can occasionally go wrong, particularly when it comes to withdrawals. This is evident by the few Reddit threads about delayed or non-existent eCashout casino payouts. If you’re experiencing casino cashout delays, it might be time to reconsider your gaming destinations. After conducting some in-depth research, we have compiled a list of top Wyzia-powered casinos that are known to offer speedy and reliable transactions:
LuckyReels
What we like the most about this gaming site is its localized banking services. You can process a deposit via Interac by Gigadat and receive withdrawals through Interac e-Transfer or eCashout. You can also receive payouts via MiFinity and a range of cryptocurrencies, which are becoming common in gaming. Direct bank transfers are available, too. Remember, payouts can take up to 24 hours to process. That’s still faster than what most casinos provide in Canada.
- Launch year: 2023
- License: Curacao Gaming Control Board
- Withdrawal speeds: Up to 24 hours
PlayOJO
PlayOJO lets you enjoy fast eCashout withdrawals after completing the Wyzia security checks. You can cash in and out using options like Visa, Mastercard, Jetonbank, and Interac. It uses Interac Online for deposits and the e-Transfer feature for withdrawals. Another thing that makes PlayOJO stand out is its Ontario license, which ensures maximum player protection. Don’t hesitate to contact the operator if you don’t receive timely Wyzia payments.
- Launch year: 2022
- License: iGaming Ontario
- Withdrawal speeds: Instant
CasinoDays
CasinoDays is another reliable gambling platform in Ontario and other parts of Canada. This casino offers various banking methods, including online banking like eCashout and iDebit. You can also use alternatives like Bank Wire, Interac, Paysafecard, virtual mastercard, and visa debit cards. CasinoDays takes just a few hours to transfer winnings to your bank account. Many online player reviews also commend CasinoDays’ excellent customer support service.
- Launch year: 2020
- License: iGaming Ontario
- Withdrawal speeds: Up to 24 hours
Broader Implications for Canadian Casinos
So, what is Wyzia doing to comply with Canada’s money transfer regulations? The Proceeds of Crime (Money Laundering) and Terrorist Financing Act of 2000 regulate all money transactions in CA. This law facilitates combating terrorism financing and money laundering activities. And yes, online casinos can be hiding spots for such crimes.
Wyzia not only ensures compliance with the PCMLTFA but also responsible gaming practices. As mentioned earlier, this payment service provider partners with legal casinos in Ontario and other Canadian provinces. Usually, these casinos undergo strict vetting and audits to ensure transparency and compliance with gaming regulatory standards.
Meanwhile, FastPlay ensures maximum player satisfaction without sacrificing security. All Wyzia customers must complete a KYC process before making deposits and withdrawals. This means ON casinos may no longer need to subject gamers to further verification checks before processing payments. That’s a crucial marketing element on the part of casino operators.
Conclusion
So there you have it, folks – a full insight of Wyzia Financial. There’s no denying that Wyzia has made a significant impact on the Canadian financial landscape within a short time. From its secure payments to its innovative responsible gambling practices, this company has positioned itself as a leader in the online gambling fintech space. The FastPlay solution has also set new standards for online gambling experiences. Wyzia Financial is undoubtedly one to watch as it continues to innovate and shape the future of payments in Canada.
FAQs About Playing at Wyzia/eCashout Casinos
Do Wyzia/eCashout casinos pay out?
Sure, you can enjoy speedy transactions at the Wyzia casinos listed in our article (LuckyReels, PlayOjo and CasinoDays). Most of these casinos process eCashout payouts within 24 hours, with some ensuring instant withdrawals. However, you must provide verification documents to receive your winnings through Wyzia or any other payment service. Also, read each casino's T&Cs to confirm the withdrawal pending period.
Which casinos in Canada support FastPlay transactions?
Not many casinos in Canada support FastPlay transactions because it's still a new method. Currently, this option seems only available at VideoSlots, an award-winning casino with an iGaming Ontario license. We hope Wyzia Financial can roll out this convenient online gaming feature at more casinos nationwide.
What are the best Wyzia alternatives in Canada?
Canadian casinos offer dozens of banking methods. Interac often stands out as the most reliable option for processing bank payments. You can also use options like Bank Wire, Instadebit, iDebit, Loonio, and eCheck. And yes, e-wallets and cryptocurrencies are the best for receiving fast withdrawals at any time, including holidays and weekends.
