On Paysafe and Paysafecard

Paysafecard unassuming beginning was in Vienna, Austria, where it was founded by some small businesspeople. It has its centralized headquarters there, even though it later expanded and is currently operating in over 50 countries on five continents.

Over the years, there have been several acquisitions by the company. The company was first acquired by Skrill, which allowed the service to be used in Skrill casinos. Optimal Payments Group later acquired the Skrill brand. The group several years later changed its name to Paysafe Group, the same name by which the company is known today.

Today, Paysafecard is widely known to be a safe and convenient online payment option without using a credit card or bank account. Many online platforms now allow users to deposit with paysafecard, making it especially popular among gamers and casino players.

Paysafecard is regulated by the UK Financial Conduct Authority (FCA) and has partnered with some excellent partnerships, one being with giant Mastercard. Its partnership has extended to include Apple Pay and Google Pay integration on the Paysafe payment platform.

Strengths and Weaknesses of Paysafecard

As mentioned, Paysafecard is easiest. Being multinational, you can purchase their cards in over 650,000 point of sale locations globally, ranging from shopping centers and fuel pumps to offices, which also one can look for on the official website.

Each card, from $10 to $100 (or whatever their equivalent foreign is, if you're so inclined), carries its own 16-digit PIN number, and that's what you then employ when you're making an online purchase in your favorite store.

The card is accepted on a range of leading sites, such as Apple and Amazon, and you can keep tabs on all of your spending on one app.

In the event of any issue with a Paysafecard payment, the company has multiple avenues from which you can contact them for assistance. They have toll-free lines for most countries, along with the option to contact them by email through their official website.

Paysafecard also maintains a strong social media presence, where questions are answered via Twitter and Facebook and news updates on LinkedIn and Instagram.

While Paysafecard is being marketed as if one can get it without a credit card or a bank account, it is likely to have fees, and these aren't always explained.

They are:

• A $2 monthly service fee (charged from your balance) if your code has been inactive for a very long time. While this will vary depending on the country you happen to be in.
• Currency exchange fees, which are different depending on how much money you need.
• A $7.50 charge to process any refund paid back to you. So, for example, if you purchase a $100 card, use it, and request a refund, you'll receive only $92.50.

While the initial two charges are quite common, the refund charge is outrageous, considering the frequency of refunds and the minimal effort required for the company to redirect.

Of course, let it be said that these charges are an exception and not the rule—there's only certain occasion that they are implemented, and most Paysafecard consumers aren't under their jurisdiction.

Using Paysafecard in Online Casinos

Once you've identified a good Paysafe casino, all you will need to do is register or just log in if you already have a registration. Just enter your Paysafecard information and deposit. The minimum deposit varies in every casino: typically around $10, which is a plus point as that is the minimum denomination of Paysafecard.

You can also withdraw money from online casinos using Paysafe, but to do so, you’ll need more than just the physical card—you’ll need your Paysafecard account details.

Simply log in to your casino account, choose Paysafecard as cashout option, input the amount you wish to cashout and your email address. Lady Luck being kind to you, the funds get deposited directly to your Paysafecard account where you can see your balance and use it online.

Having a My Paysafecard Mastercard will also give you more flexibility because you will be able to withdraw money using the ATMs or use it to purchase other sites that accept Mastercard.

It is possible to withdraw, although Paysafecard is mainly used for deposits.