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In , paysafecard became a part of the multinational Optimal Payments online payment corporation, which subsequently rebranded as Paysafe Group.
The group now directly offers certain products and services under the Paysafe brand. Some sources erroneously interpret Paysafe to be the name of the company originally issuing the paysafecard product, and sometimes suggest this to be the core company of the Paysafe Group.
Web offers payable with paysafecard include online games , social media , telecommunication,  music,  and others.
The scope of websites accepting paysafecard varies per country for several reasons. The most widespread use are online games; for example, League of Legends accepts paysafecard in 41 countries as of The company behind paysafecard is based in Vienna , Austria.
In , paysafecard received an EU funding under the eTEN program supporting electronic services with a trans-European dimension.
In August , paysafecard absorbed Dutch competitor Wallie. Core of paysafecard is a digit PIN, sold most usually on a printout, a pre-printed prepaid card, or as a digital information online.
In the respective countries, paysafecard is available in demoninations ranging from 10 to euros , United States dollars , pounds sterling , and Australian dollars , and approximately equivalent sums in other currencies, e.
When paying in an online shop, the user enters the 16 digit PIN, and the amount tendered is deducted from the paysafecard balance.
Hence, the same PIN code can be used multiple times. For larger sums it is possible to combine up to ten paysafecard PINs.
The current balance of each paysafecard as well as its transaction history and production date can be viewed at the official site by entering the respective 16 PIN code.
The paysafecard company earns varying proportions of merchants' transaction volumes, shared with the distribution partners.
Nonetheless, in the following situations fees are to be paid:  . In contrast to in-house vouchers and prepaid products, paysafecard is sold and accepted at distinct companies "Third Party Billing".
For this reason, dealing with them is a banking transaction and requires either a banking partner or a banking licence.
Further, Swiss paysafecard subsidiary paysafecard. In the United States, payment regulations require an external banking partner issuing paysafecard, a role assumed by The Bancorp Bank.
In the beginning, paysafecard was sold as pre-printed scratchcard. Typical examples include newsagents, petrol stations,   post offices,   pharmacies,  supermarkets,  electrical retailers and vending machines.
Aside normal paysafecard, the company offers several other services, most notably in most countries an online account called my paysafecard to upload PINs and to do repeated payments more comfortably.
In several countries, paysafecard also issues a prepaid paysafecard Mastercard. Also, in contrast to other payment methods, accountless paysafecard does not enable a customer to withdraw money.
Unlike credit cards, paysafecard does not give the opportunity to overdraw your fundings, which may be appreciated as a means of spending control.
The payment method is never used for governmental fines or reminder fees. From onwards, paysafecard has won several Paybefore Awards since Pay Awards , issued by the US Paybefore media group, a daughter of Informa ,  with a focus on prepaid electronic payment solutions.
The first of those awards was Best Non-U. Prepaid Program. In the Austrian Great Place to Work contest, paysafecard won 1st place in the category New Working World and Quality of Living , as well as 10th place among all medium-sized companies.
From Wikipedia, the free encyclopedia. Paysafecard Wertkarten GmbH Type. Retrieved Die Presse. Retrieved 22 December
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