Competitor Profile: paysafecard

Competitor Profile: paysafecard

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 the 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 a 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 at a checkout for online purchases. The prepaid voucher can be purchased for different denominations of a country’s local currency.

The vouchers are currently available in 49 countries worldwide and users can buy them online or in more than 650,000 sales outlets. In Canada, for instance, users can purchase paysafecard using online portal TopMeUp. 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 2012. This allows consumers to store their paysafecard vouchers in a personal online payments account, which can then easily be used wherever paysafecard is accepted by entering a username and password. In December 2016, it introduced a new service called paysafecard direct, which allows registered users to top up their my paysafecard account directly at sales outlets without having to purchase a voucher.

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 performance, including its revenue model
- The company's important events and milestones

Scope

- In 2000, paysafecard was launched in Austria.
- paysafecard is a prepaid voucher that allows users to make payments online without having to share any personal information or bank account details.
- My paysafecard is an online tool that helps users manage all their paysafecard PINs.
- In July 2019, paysafecard partnered with Youtube, enabling users to pay for YouTube’s premium content service via paysafecard in France, Germany, Spain, and the UK.

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.