paysafecardPaysafecard is an electronic payments solution that enables users to access services such as online shopping and payments of subscriptions and memberships on the World Wide Web. Paysafecard is a major player in the online payments arena, and it is a direct competitor to companies like Moneybookers, PayPal and others.

Depending on the county, Paysafecard can be purchased in person at a number of retail sales outlets. The company holds the distinction of having been featured as a project of the month by the European Union's trans-European e-services program as a solution for micro-payments in lieu of traditional banking.

User Interface

Paysafecard features a Web-based user-friendly interface that is logical, intuitive and easy to use. At the heart of Paysafecard is a 16-digit personal identification number (PIN) code. These codes are printed on cards or even sales receipts generated by smart cash registers. These PIN codes can be purchased by users with cash at any of the more than 450,000 retail sales outlets affiliated with the Paysafecard network around the world.

The Paysafecard website offers information in various languages, and users can search for a store where they can purchase PIN codes or check the amount of money they have left in a particular voucher. They can also view current promotions and special offers available exclusively to Paysafecard customer. In the United Kingdom, for example, Paysafecard customers who like to bet on sports can sign a PIN worth 5 euros when they indicate their favorite sport to wager on.

Purchasing PINs and Making Online Payments

Paysafecard is one of the most straight-forward electronic payment methods available today. Users can purchase a PIN code simply by finding the closest retail outlet and obtaining a prepaid electronic voucher with cash.

Online purchases of PIN codes can only be made in Austria and Switzerland. Once a Paysafecard PIN is issued, it works just like hard currency. Users should protect this PIN as if it was a stack of bills.

Making a payment with Paysafecard is as simple as visiting the Web site of a retailer of service provider and inputting the PIN code. The online vendor can accept multiple PIN codes in case of a large purchase. Since Paysafecard works like cash, users only have to worry about the balance on their PIN, which can be checked online. Once a PIN code shows a zero balance, it's time to obtain another one.

Deposit and Withdrawal Options

Depending on the retail outlet, one-time deposits can be made with:

Cash
Debit Cards

Security Features

Obtaining a Paysafecard is a convenient, secure, anonymous, and private transaction. No credit or debit cards are required, and the only information verification made is the age of the customer. No personal data is ever disclosed with a Paysafecard transaction, and users can transfer the entire balance of a PIN to other persons by simply disclosing their one-time PIN code.

When making online payments, Paysafecard issues a digital security certificate that is unique to each customer. Paysafecard only works with approved online partners, and every payment made is handled through a minimum 128-bit Secure Socket Layer (SSL) connection. Once users choose the option to use Paysafecard, the company takes over the transaction via the secure customer.cc.at.paysafecard.com site.

Online Gambling

Electronic payment providers like PayPal do not allow transfers to online gambling websites, and thus players often turn to the safety and anonymity of Paysafecard instead.

Many online gambling sites and sportsbooks accept Paysafecard PIN codes for deposits, although it is important to note that PIN codes purchased from stores in the United States will not work for online gambling purposes.

Costs of using Paysafecard

Unlike bank accounts and other prepaid services, Paysafecard is relatively free for customers, at least for the first twelve months once a PIN code is issued. After one year, an administrative fee of two euros is charged every month -but the nature of the Paysafecard method makes it unlikely that users will hold on to a single PIN code for too long.

Fees on Deposits and Withdrawals

Save for the maintenance costs mentioned above, the fees for deposits and withdrawals for Paysafecard are:

Zero fees on deposits
Zero fees on withdrawals

Regulation

Paysafecard maintains a headquarters office in Austria. It is regulated by the Financial Services Authority (FSA) in the United Kingdom and it is compliant with the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) in the United States. Paysafecard has a legal presence in 31 countries around the world.

Customer Service and Support

Paysafecard offers telephone and email customer support around the clock. Frequently asked questions are answered in several languages by the "Inform" section of their website. In most countries, Paysafecard offers a toll-free telephone number for support.

The Paysafecard website offers security alerts and constantly updates the location of retail sales outlets.

The corporate headquarters address is:

Schönngasse 15-17
Vienna A-1020
Austria

The URL for customer support and information is http://www.paysafecard.com