Asma Ahmed
Asma Ahmed
Asma is a fintech writer at AskWallet

STICPAY — global e-wallet mainly focused on the Asian market.

STICPAY is a London-based electronic payment solution that offers a convenient, secure, and flexible e-wallet service to businesses and individuals, especially online casino players. Apart from its global money transfer service, the STICPAY card's addition allows users to withdraw the funds in their account through an ATM. For its flexible and quick deposits and withdrawals, STICPAY is becoming a popular payment option for punters to manage funds online.

6 min read 04.01.2021

What is STICPAY?

Launched in 2018 initially as a service to transfer funds instantly anywhere in the world, STICPAY now enables its users to make online purchases through its MasterCard in more than 200 countries.

 

STICPAY mainly relies on its ability to perform instant and secure payment; however, it is still competing with mainstream e-wallets when it comes to fees and coverage. Its primary market is Asia, especially South Korea, Japan, China, and other East Asian countries. Apart from that, users in Europe, Australia, New Zealand, and some African countries (South Africa, Nigeria, etc.) are also using this service for P2P transfers and online purchases.

 

STICPAY is predominantly used in these territories' online casinos for its streamlined registration process and convenient cashouts and deposits. The service is also partnering with online casino operators and bookmakers to extend its reach in these markets. It is gradually targeting businesses, and individuals in other territories with its package includes a prepaid STIC card, local bank transfers, and an e-wallet. Unfortunately, its use is strictly prohibited for US citizens, including those living overseas and a few Middle Eastern and African countries. Any person or entity suspected of providing false/misleading information to conceal a location or affiliation in the United States may be blocked without prior notice.

 

STICPAY support all major currency including EUR, USD, British Pound, Swiss Franc, Hungarian Forint, Polish złoty, and many others. The service’s website also supports seventeen languages.

 

STICPAY also allows its clients to become affiliate program members and receive remuneration in the form of commission by referring the service to new users. Its terms and conditions page for Partner Program explains the commission, prohibited activities, applicable rules, etc.

 

Identity verification and types of accounts

Like other e-Wallets, STICPAY also requires its customers to complete a registration process. Users also need to provide identity verification documents containing their names, birth dates, and places, photos, and signatures. In other words, simply provide a copy of your passport or driver’s license. The regular account is accessible within 24 hours of registration. Every user is allowed to open supplementary accounts in addition to the main account in STICPAY’s system.

 

If you want to apply for a STIC card, you must have more than a 110 USD STICPAY account balance. 40 USD will be deducted from your balance as card delivery charges in addition to other custom charges/taxes applicable upon receipt of the card. The STIC card delivery will take about 2 to 3 weeks. This card allows you to make online and offline up to 2000 USD (monthly purchase limit is 9500 USD). You can also withdraw 1200 USD daily from ATMs; however, the monthly limits are pretty low, i.e., 6700 USD. STICPAY official website has all the needed information about the fees, limits, application process for STIC card.

Also, legal entities can open a business account, which will allow them to manage multiple foreign currency accounts.

 

STICPAY for online gaming deposits & withdrawals

STICPAY is a secure online gaming payment gateway, and there are a number of bookmakers that accept STICPAY as it is secure and quick. The service is already partnering with a number of online casino and poker sites for the replenishment of the balance of the gaming accounts and fast payouts. Punters in these countries- Canada, Australia, China, Singapore, Japan, Malaysia, Indonesia, South Korea, and the Philippines can benefit from the quick and inexpensive STICPAY local solution (the list of countries is expanding) and send money with very low fees and in their local currency.

 

If you want to know more about the fees for the e-wallet and the card, Askwallet sums it up for you in one place. You can also visit STICPAY’s website to know more about payment methods for deposits and withdrawal of funds and a list of gaming sites using the STICPAY online system.

 

STICPAY fee and other charges

If you want to top-up your STICPAY account through cryptocurrencies or international bank transfers, the service charges a 1% top-up fee on the transferred amount. For uploads made through MasterCard or Visa, users need to pay around 3.58% top-up charges. For casino deposits, punters will additionally pay 2.5% of the deposit amount plus 0.3 USD additional customer to merchant fee. You can also view details of all applicable fees and merchant charges on the service’s official website.

Is STICPAY safe?

It is an FCA-regulated service with a high-level of encryption, so it is a secure option to make online purchases or deposits or withdraw money from online casinos.

Though it is a new entrant in the virtual money management arena, the company strictly adheres to all applicable regulatory measures. STICPAY operates as a regulated financial company with an FCA issued license. It has also enforced high level anti-fraud and security measures to keep your money safe.

Pros & Cons

  • Quick and secure international transfers
  • It has a streamlined process for deposits and withdrawals for online casinos, thus saving punters from jumping through hoops
  • Less waiting time for account approval and access to the service
  • STICPAY supports many currencies, including cryptocurrencies and Asian fiat currencies
  • Multiple top-up methods (bank transfers, cryptocurrencies, MasterCard, Visa)
  • STICPAY e-wallet and other services are mainly skewed towards the Asian market
  • STICPAY may not be a cost-effective option, and there are other cheaper alternatives available
  • Unavailable in the US market

Conclusion

In my view, STICPAY has a long way to go to become a mainstream e-wallet. If you are considering opening a STICPAY account, I suggest visiting its official website and view the applicable charges. Mainly, depending on the chosen method of replenishment/withdrawal of funds, the service establishes a commission, which you should review in more detail on the official website. Users can only contact the STICPAY support service via web form or separate emails for general, merchant, and other inquiries. It would be great if there were a live chat or call option, which is much quicker to reach support than these methods. Overall, it is a quick, convenient, and global e-wallet service. Still, it faces great competition with other cheaper e-wallets available in the market that have more features and benefits for their users.

FAQ

What is the minimal amount for deposit?

The current STICPAY minimum deposit is $100 or equivalent.

How to verify my identity?

Whether you want to use this e-wallet for STICPAY iGaming sites, or business, you will need to submit documents for account verification and use STICPAY e-wallet capabilities. These include identification and residence certificate, a passport, driver's license, or an invoice for payment of utilities.

 
How to withdraw money from my STICPAY account?

You can withdraw funds from any site via bank transfer or from STICPAY card (for cash withdrawals via ATMs that support Unionpay).

How to register a STICPAY account?

The registration process takes only a few minutes:

 

  1. Visit STICPAY registration page, and enter the information in English.
  2. Agree to the terms and sign in the appropriate field using your mouse cursor. 
  3. Click “Next”. 
  4. The second step is “SMS authentication”. Enter your mobile number, receive a code and perform a validation check.
  5. Complete account registration.

 

The support team will process your application as soon as possible and guide you further for account verification.

What is the minimal amount for deposit?

The current STICPAY minimum deposit is $100 or equivalent.

How to withdraw money from my STICPAY account?

You can withdraw funds from any site via bank transfer or from STICPAY card (for cash withdrawals via ATMs that support Unionpay).

How to verify my identity?

Whether you want to use this e-wallet for STICPAY iGaming sites, or business, you will need to submit documents for account verification and use STICPAY e-wallet capabilities. These include identification and residence certificate, a passport, driver's license, or an invoice for payment of utilities.

 
How to register a STICPAY account?

The registration process takes only a few minutes:

 

  1. Visit STICPAY registration page, and enter the information in English.
  2. Agree to the terms and sign in the appropriate field using your mouse cursor. 
  3. Click “Next”. 
  4. The second step is “SMS authentication”. Enter your mobile number, receive a code and perform a validation check.
  5. Complete account registration.

 

The support team will process your application as soon as possible and guide you further for account verification.

Questions & answers

Asma Ahmed

The STICPAY SCOIN page is in Japanese. Your website’s domain is “.com” whereas this link’s domain is “.info.” However, it offers a link to be redirected to the official STICPAY website. My question is whether is it currently open for Japanese residents, or users in all countries can earn SCOIN reward?

SticPay Representative

We don't offer SCOIN anymore. it was posted 2 years ago and our currencies and services changed overtime. 

Asma Ahmed

SCOIN can be exchanged/converted into fiat currencies as it is your internal currency. Can users exchange it for the STICPAY supported cryptocurrencies for online payments as STICPAY allows merchants to integrate a cryptocurrency payment gateway directly to their platforms?

SticPay Representative

Apart from SCOIN (not offered anymore), crypto can still be converted to fiat and vice versa.

Asma Ahmed

One of the STICPAY KYC requirements is that the user’s geolocation during the verification process and the address filled during registration should match. Can you explain why it is a requirement as the user is already submitting the documents and many leading EMIs are flexible in this regard?  

SticPay Representative

Geolocation feature is not featured anymore. This was used to distinguish if the user's current residential address via geolocation and address registered on the website are the same. This is for proof of address verification. However, our proof of address verification now will need users to upload a POA document (utility bill or bank statement) that shows the user's residential address, which should also match the address they provided on the website.

4.13 We calculate the rating from AskWallet editorial and user ratings
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Asma Ahmed
Asma Ahmed
As a fintech researcher and writer, she enriches AskWallet website with new posts and articles. Asma is an MBA graduate from IoBM, Karachi and has been working in the financial services industry since 2013. She loves traveling, listening to music, and watching Netflix.