PaysafeCard

PaysafeCard: online cash payments using prepaid codes

PaysafeCard is an online payment solution based on 16-digit prepaid codes purchased at physical retail outlets. The service allows you to pay at online shops without the need for a bank account or credit card, and is operated by PaysafeCard.com Wertkarten GmbH. The closed loop prepaid card it offers is issued by The Bancorp Bank N.A., an FDIC member institution.

Two ways to use it: with and without registration

The system offers two ways to make payments. The first requires no registration: you only need the 16-digit PIN and no personal data is used. The second involves registering for free, a process the company describes as quick, and allows you to manage payments with login credentials and access additional features through the mobile app. In both cases, the maximum amount per transaction is up to $300, according to the published terms and conditions. The company notes that some online shops may require registration for all transactions.

Purchasing and checking your balance

Prepaid codes are bought at physical retail outlets, which the company puts at more than 650,000 worldwide. To find the nearest outlet, the website includes a search tool by address, postcode or town. Once you have bought the card, you can check the balance by entering the 16-digit PIN on the website. You can also register to store several cards in one place.

Payments at participating partners

PaysafeCard is accepted at thousands of online shops, with a strong presence in the gaming and licensed online gambling sectors. The company also offers branded gift cards, which can be purchased at the same sales outlets and used at participating shops. The website includes a directory of the most popular shops where this payment method is accepted.

Service for businesses

In addition to personal use, PaysafeCard offers a side aimed at merchants. The company argues that accepting this payment method allows you to expand your customer base by catering to users who prefer cash or do not have access to traditional banking services; reduce the risk of chargebacks and fraud thanks to prepaid transactions; and increase conversion rates by offering a method familiar to consumers. For interested merchants, the company provides a service centre with management and integration tools.

International reach

The company states it operates in more than 50 countries and 30 currencies, with more than 176 million transactions in 2020. The website allows you to select region and language from a wide list of countries in Europe, the Americas, the Middle East and Oceania. PaysafeCard is part of the Paysafe group, which also manages other payment solutions such as Skrill, Neteller, PagoEfectivo, PaysafeWallet and PaysafeCash.