Paysafecard
Paysafecard is an electronic money system that's mostly used for making online purchases, and is based upon a pre-paid system. Consumers purchase a paysafecard for a fixed amount, and the card is loaded with an designated about of money. Each paysafecard has a specific 16-digit number that identifies it uniquely. The card can be used multiple times, and repeatedly so until the balance of the card is nil, at which point it can be discarded. Paysafecard can be used any retail outlet that accepts it, but also more typically at online retailers, such as online casinos. At the point of purchase, the customer simply enters the 16-digit number associated with their card, and the transaction is approved should they have enough money on their card to complete the purchase. Multiple cards can be used to complete one purchase.
Customers can at any time check their remaining balance on any paysafecards they may own by going to the paysafecard site and entering their 16-digit code. Cards can be purchased without the need to reveal any sensitive financial information such as credit card numbers or bank account details.
Paysafecard History
The founder company of paysafecard, Wertkarten AG, was created in Vienna, Austria, in 2000. It swiftly grew in popularity as a payment method and opened branches in Germany, Gibraltar, the Netherlands, Switzerland and the Uk in Europe, as well as Mexico, Argentina and the USA.
In 2002 paysafecard launched an eVoucher scheme, which ran alongside the physical cards that were issued. The eVouchers had all the functionality of the physical cards, but could only be used for online purchases. In 2006 paysafecard received EU funding in order to allow it to expand internationally, and in 2007 a subsidiary of the v group - Prepaid Service Company Ltd - was granted an e-money licence by the UK's FSA, which enabled it to provide eWallet payments throughout Europe.
In 2011 the company expanded again when it bought the Dutch online payment provider Wallie, but then in early 2013, Werkarten AG were bought by Skrill (formerly Moneybookers), who are one of the largest eWallet money service providers in the world, for $177 million.
Paysafecard Today
Cards can be bought at over 450,000 retail outlets all over the world, including supermarkets, petrol stations, tobacconists and newsagents. They can be bought in various denominations (for example in the UK: £10, £25, £50, $75 or £100), and there is no fee charged for the first year of use. After a year, if you still have any credit remaining on a paysafecard, then a fee (£2 per month in the UK) is deducted each month until there is no credit remaining.
Paysafe cards can be used at over 4,000 web-based retailers, including gaming companies, social media outlets and communities, online dating sites, telephone and messaging companies, internet services and to make music, film and entertainment-related purchases.
You can find your nearest paysafecard retailer by using the location tools on the paysafecard site. You can also download an app to your smartphone or tablet that will allow you to locate your nearest paysafecard retailer, wherever you may be in the world.
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