 | |
| Company type | Public |
|---|---|
| Industry | Online payments |
| Founded | 2000 |
| Headquarters | Am Europlatz 5 1120Vienna, Austria |
Key people | Bruce Lowthers (CEO & Executive Director)[1] |
| Products | Electronic money |
| Parent | Paysafe |
| Website | www |
PaysafeCard (until 2024 stylizedpaysafecard) is a prepaid e-commerce payment solution powered byvouchers. It is part ofPaysafe, a global payments platform. PaysafeCard allows customers to pay online without providing personal financial information.
Users can purchase vouchers online or at local sales outlets and redeem them at the checkout of the respective website. As of 2024, PaysafeCard is available in approximately 50 countries, with the scope of services and partner online stores varying by country. In most countries, a personal account called myPaysafe is available for uploading codes and managing balances.
PaysafeCard was founded inAustria in 2000. Two former competitors, DutchWallie and BritishUkash, were acquired by PaysafeCard. In 2013, it was acquired by thedigital wallet providerSkrill. In 2015 the Skrill Group was acquired by theOptimal Payments Group, a global online payment processing provider regulated in theUnited Kingdom. Optimal Payments subsequently rebranded asPaysafe.[2][3] PaysafeCard continued to be a subsidiary brand of the Paysafe Group in its own right, alongside others like the digital wallets Skrill andNeteller.[4]
As of 2023 PaysafeCard is issued in approximately 50 countries—covering most ofEurope andNorth America,Australia andNew Zealand, and some countries inWestern Asia andSouth America.[5]
Countries with PaysafeCard available includeArgentina,Australia,Austria,Belgium,Bulgaria,Canada,Croatia,Cyprus, theCzech Republic,Denmark,Estonia,Finland,France,Georgia,Germany,Greece,Hungary,Iceland,Ireland,Italy,Kuwait,Latvia,Liechtenstein,Lithuania,Luxembourg,Malta,Mexico,Moldova,Montenegro,[6]Netherlands,New Zealand,Norway,Paraguay,Peru,Poland,Portugal,Romania,Saudi Arabia,Slovakia,Slovenia,Spain,Sweden,Switzerland,Turkey, theUnited Arab Emirates,[7][8] theUnited Kingdom, theUnited States andUruguay.[9]
Products and services available to buy with PaysafeCard includeonline games,social media, telecommunication,[10] music,[11] and others. The scope of websites accepting PaysafeCard varies per country. Examples of partners accepting PaysafeCard in 20 or more countries include Amazon,[citation needed]Google Play Store,[12]Microsoft,[13]Xbox,[14]PlayStation,[15]Steam,[16]andFacebook.[17]
PaysafeCard is based inVienna, Austria. It was founded in 2000 by four Austrians, including the first CEO Armin Sageder, aspaysafecard.com Wertkarten AG ("paysafecard.com prepaid card Inc."), later transferred into aGmbH, aprivate limited company.[18] The technical partner providing expertise and the original hardware wasIBM Austria.[19] The following year, PaysafeCard also launched in Germany.[20] In 2004, co-founder Michael Müller assumed the role of CEO.[21]
In 2005, PaysafeCard received an EU funding under theeTEN program supporting electronic services with a trans-European dimension.[22] Subsequently, PaysafeCard launched in Slovenia, Greece, Slovakia, Spain and the United Kingdom.[23]In 2008, British subsidiaryPrepaid Services Company Ltd. received an EU-wide e-money licence by theBritish Financial Services Authority (FSA), later theFinancial Conduct Authority (FCA) under theFinancial Services and Markets Act 2000,[24][25] expanding to asmall e-money issuers certificate valid for the United Kingdom in 2006.[23]This authorised the company to issue e-money throughout theEuropean Union.[26] Also in 2008, PaysafeCard Switzerland obtained a license as afinancial intermediary.[27]
In August 2011, PaysafeCard acquired Dutch competitor Wallie.[28] In February 2013,Skrill, one of the largest payment services providers in Europe completed the acquisition of paysafecard.com Wertkarten AG.[29] A year later, CEO Michael Müller left PaysafeCard and handed over to his brother Udo Müller.[30] In November 2014, Skrill acquired British PaysafeCard competitorUkash and merged it into PaysafeCard.[31][32] In August 2015, Skrill group competitorOptimal Payments group completed the acquisition of Skrill group, including PaysafeCard, and subsequently rebranded asPaysafe Group.[32] On the 1st of November 2021, Paysafe completed the acquisition of viafintech, the company that developed viacash (originally Barzahlen).[33][34]
A PaysafeCard voucher is a 16-digit code sold in stores and online. Sales outlets print the voucher as a receipt. In the respective countries, PaysafeCard is available in denominations ranging from 10 to 100euros,United States dollars,pounds sterling, andAustralian dollars, and approximately equivalent sums in other currencies, e. g. 100-1000Norwegian kroner.[35]
When paying in an online shop, the user enters the 16-digit code, and the amount tendered is deducted from the PaysafeCard balance. Hence, the same code can be used multiple times until the full balance has been used. For larger sums, it is possible to combine multiple PaysafeCard codes.[36]
In contrast to in-house vouchers and prepaid products, PaysafeCard is sold and accepted at distinct companies ("Third Party Billing"). For this reason, dealing with them is a banking transaction and requires either a banking partner or a banking licence. In the beginning, PaysafeCard was issued by theBAWAG P.S.K. in Austria and theCommerzbank in Germany.[37]
Since 2008, PaysafeCard's subsidiary companyPrepaid Services Company Limited holds a licence of theFinancial Conduct Authority (resp. its predecessorFinancial Services Authority) "to issue electronic money (e-money) and provide payment services", valid for all countries in theEuropean Economic Area.[24] Therefore in those countries, PaysafeCard is issued byPrepaid Services without external banking partner. Further, Swiss PaysafeCard subsidiarypaysafecard.com Schweiz GmbH is a licensedfinancial intermediary in Switzerland[38] and issuer of the product also in other countries, e.g. inAustralia.[39]
In the United States, payment regulations require an external banking partner issuing PaysafeCard, a role assumed byThe Bancorp Bank.[40][41]
In the beginning, PaysafeCard was sold as a pre-printedscratchcard.[42] Starting in 2002, PaysafeCard was sold as a printout called "eVoucher" by the company, a uniquely numbered receipt from an in-store sales terminal. PaysafeCard is distributed countrywide by various external partners, which is why the types of shops offering PaysafeCard vary by country. Typical examples include newsagents, petrol stations,[43][44] post offices,[45][44] pharmacies,[44] supermarkets,[44] electrical retailers and vending machines.[46] The worldwide number ofpoints of sales is more than 600,000.[47]
PaysafeCard has limitations manifesting especially when used for onlinegambling. Payments (deposits in gambling accounts) with PaysafeCard are limited to €1000;[48] for classic PaysafeCard (notmyPaysafe) this amount has been lowered to €250 in 2016 due to compliance with regulations.[49] Some other online payment methods allow higher amounts. Also, a myPaysafe account is required to withdraw money from a gambling merchant.[50][51][8] Withdrawals to myPaysafe accounts are supported by several online casinos,[52][53][54][55] with Paysafe's President of Global Gaming, Zak Cutler, emphasising that consumer protection and safety is a focus of its casino withdrawal offering.[56]
Unlike credit cards, PaysafeCard does not give the opportunity to overdraw user funds.[57][58]
The company offers services to supplement the classic PaysafeCard. In most countries, an online account called myPaysafe lets users buy codes and carry out repeat payments more comfortably.[59] At the checkout of a webshop, users may choose between entering a code and signing in to theirmyPaysafe account.[60] myPaysafe also offers gift card purchases – users can use their balance to buy retail and entertainment gift cards from the likes of Amazon, Nintendo or H&M.[61]
In several countries, PaysafeCard also issues a prepaidPaysafeCardMastercard.[62]
In 2023, the company started offering a service called ‘Account & Card’, which provides a myPaysafe account with a virtual IBAN together with a physical or virtual prepaid card. The service lets users make SEPA transfers with their account balance but is only available in certain countries.
Barcode (e-Cash) payment solutionPaysafeCash was launched in 2018 by Paysafe.[63][64] It is based on a barcode generated in the online checkout of an app, account, wallet or webshop when PaysafeCash has been chosen as the post payment or deposit option. The generated barcode can be sent to a mobile phone via a text message or an e-mail, uploaded to a mobile wallet, or printed out.[65] The user shows the barcode at the nearest PaysafeCash payment store, where it is scanned and the amount due can be paid with cash. Payment stores are to be found via a location finder within the PaysafeCash app or on the PaysafeCash webpage.[66]
PaysafeCash was created for cash-reliant users who do not possess a credit or debit card, or do not want to disclose their financial data when making online purchases or paying bills. It allows the use of traditional cash for digital payments in multiple industries such as financial services, rent payments, government and utility bills, e-commerce, and others. Retail andneobanks can offer new services to their customers, a PaysafeCash integration in their banking app provides an option for cash deposits to digital bank accounts at a brick-and-mortar store.
As of 2022, PaysafeCash is available in about 30 countries in Europe and North America.[67][68]
PaysafeCash is accepted in more than 200,000 brick-and-mortar PaysafeCash partner stores globally.[69][70][71]
In August 2023, Paysafe announced an extended partnership with The Mill Adventure enabling players on the German-licensed iGaming platform to pay for their gaming experience in cash.[72]
In March 2023, Paysafe announced a new partnership with the popular US long-distance bus transport provider Greyhound (acquired by Flixbus), offering travelers an option to make safe and secure cash payments when booking a trip online.[73]
In December 2022, Paysafe partnered with ING Germany to strengthen its consumer offering. The cooperation enables the third largest bank in Germany to use Paysafe's cash service for cash deposits and withdrawals.[74]
In August 2022, Paysafe announced a partnership with Exeter Finance enabling online cash payments for US auto loans.[75]
In the 2018 AustrianGreat Place to Work contest, PaysafeCard won 1st place in the categoryNew Working World and Quality of Living, as well as 10th place among all medium-sized companies.[76]
23 December 2017
Paysafekarten
{{cite web}}: CS1 maint: bot: original URL status unknown (link)Besitzer der Paysafecard rubbeln auf der Rückseite einen 16-stelligen Zahlencode frei. ("Owners of a Paysafecard reveal the 16-digit number code on the back side by scratching.")
An allen SBB Billettautomaten rund um die Uhr [at all ticket vending machines 24/7]
{{cite web}}:|first= has generic name (help)