paysafecard 2024 - Competitor Profile

paysafecard 2024 - Competitor Profile

Summary

paysafecard is one of the leading online prepaid voucher providers in Europe. Launched in Austria in 2000, it was acquired by Skrill Group in 2013 and became part of Paysafe Group through the latter’s acquisition of Skrill in 2015. Since then, paysafecard has been integrated into the group’s prepaid division.

paysafecard allows consumers to convert cash into digital currency and pay for goods and services online without having to provide merchants with any bank or credit card details. Customers can purchase the digital currency in the form of prepaid vouchers with 16-digit PINs, which can be redeemed for online purchases. The prepaid voucher can be purchased for different denominations of a country’s local currency.

The vouchers are currently available in 60 countries worldwide. Users can buy them online or at more than 650,000 sales outlets. In Canada, for instance, users can purchase paysafecard using online portal TopMeUp and retail stores including Commisso's Fresh Foods, Kitchen Food Fair, and Hasty Market. In Germany, WKV.com is the official online paysafecard distributor.

paysafecard is accepted by thousands of online merchants globally across the gaming, online, music, film, and entertainment sectors. To offer convenient voucher purchases and online payments, my paysafecard was introduced in 2013 (before being rebranded as paysafecard account). This allows consumers to store their paysafecard vouchers in a personal online payment account, which can then be used wherever paysafecard is accepted by entering a username and password. In July 2016 it introduced a new service called paysafecard direct, which allows registered users to top up their paysafecard account directly at sales outlets without having to purchase a voucher.

In July 2020, Paysafe Group acquired US-based payment services provider Openbucks to expand its prepaid voucher and e-cash business in the US. In November 2021, the company acquired Germany-based viafintech to expand its payment product portfolio and merchant base.

The report provides information and insights into paysafecard including -

• Detailed insight into its business
• Comprehensive coverage of its products and services
• Comparative assessment with key alternative payment solutions
• Information on its revenue model
• The company's important events and milestones

Scope

• In 2000, paysafecard was launched in Austria.
• In August 2011, paysafecard acquired Wallie Holding International Payment Services, a provider of prepaid payment solutions.
• In June 2018, paysafecard partnered with Google, enabling consumers to purchase content on Google Play Store using paysafecard. This service was made available in Poland, the Czech Republic, Slovakia, Slovenia, and Cyprus.
• In November 2021, Paysafe Group acquired Germany-based viafintech to expand its payment product portfolio and merchant base.
• In August 2022, paysafecard relaunched in Argentina. paysafecard initially launched in Argentina in 2009 but ceased its operations in the country in 2019 due to regulatory issues that limited consumers’ ability to use paysafecard at international online merchants. These issues were subsequently resolved, enabling paysafecard to relaunch in the country.

Reasons to Buy

• Gain insights into paysafecard's business operations and key events.
• Gain insights into its product portfolio and Revenue model.
• Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.