1. What Is Paysafecard Used For Today
2. Buy Paysafecard Online
3. What Is Paysafecard Used For Now

Paysafe Group Limited (formerly known as Optimal Payments PLC) is a multinational online payments company.^[8] The group offers services both under the Paysafe brand and subsidiary brands that have become part of the group through several mergers and acquisitions, most notably Neteller, Skrill and paysafecard.

Paysafe is based in the Isle of Man and regulated in the United Kingdom, authorised by the Financial Conduct Authority. The company was listed on the London Stock Exchange and the FTSE 250 Index until it was acquired by a consortium of The Blackstone Group and CVC Capital Partners in December 2017.^[9]

The Paysafecard can be used as a payment method for games, movies, music, social media and entertainment, and the product is accepted worldwide as a payment method. Where can I buy a Paysafecard? You can buy a Paysafecard in various shops such as petrol stations, supermarkets and post offices. It is also possible to buy a Paysafecard online. The Paysafecard is a prepaid voucher you can get from local sales outlets in fixed amount denominations of USD10, USD25, USD50, and USD100 (in Canada: CAD10, CAD30, CAD50, and CAD100). The Paysafecard voucher can be used to pay safely online using the PIN that comes with it, so you don’t have to submit any personal information, bank account. Paysafecard is simple to use Pay online with paysafecard at online platforms from the worlds of gaming, social media & communities, music, film and entertainment, and many more. Neither a bank account nor a credit card is needed. It's simple to use.

History[edit]

The company was formed from the combination of Neteller PLC, Netbanx Ltd and Optimal Payments Limited. Netbanx was founded in 1996,^[1] Optimal Payments in 1997,^[10] and Neteller in 1999.^[11] In April 2004, Neteller PLC raised about $70 million in its initial public offering (IPO) on the London Stock Exchange.^[12]

In November 2005, Neteller PLC acquired Netbanx Ltd.^[13] In November 2008, Neteller PLC renamed itself to Neovia Financial PLC.^[14] In February 2011, Neovia Financial PLC acquired Optimal Payments of Montreal, Canada.^[15] Next month, Neovia Financial PLC changed its name to Optimal Payments PLC.^[16] In early 2012, the acquisition was revealed to be a reverse takeover with the purging of a number of the senior management along with the chairman of the board.^[17]

In July 2014, Optimal Payment PLC expanded its United States interests by purchasing Meritus Payment Solutions, a California based payment processing company, and Global Merchant Advisors, Inc. based in the U.S. in a deal worth over $235 Million.^[18] In March 2015, Optimal Payments PLC revealed that it would acquire rival Skrill group, including pre-paid voucher provider paysafecard, for a fee of around €1.1 billion.^[19] In the same year, Optimal Payments rebranded as Paysafe Group.^[20]

The company moved to the main market of the London Stock Exchange in December 2015.^[21] On 25 November 2016, Paysafe Group, owner of Neteller and Skrill, restricted the use of the Net+ Prepaid MasterCard to countries within the Single Euro Payments Area (SEPA). This left users in over 100 countries unable to withdraw cash from ATM's, which left no recourse but to make purchases with Neteller/Skrill merchant partners or transfer funds to a bank account.^[22]

In August 2017, it was announced that Paysafe would be sold to a consortium of The Blackstone Group and CVC Capital Partners for £2.96 billion,^[23] making it the largest private equity backed takeover of a London-listed company since the financial crisis of 2007–2008.^[9] The acquisition was approved by the European Commission on 22 November 2017.^[24] On 21 December 2017, Paysafe got delisted from the London Stock Exchange.^[25]

In April 2019, with the likelihood of the upcoming withdrawal of the United Kingdom (UK) from the European Union (EU), the so-called 'Brexit', Paysafe Group announced their plans to prevent any negative effects for their customers and merchants. If Brexit takes place, the company will transfer its European Economic Area (EEA) business to a newly incorporated group company based in Ireland. “Paysafe Payment Solutions Limited” is authorized and regulated as an electronic money institution by the Irish financial services regulator, the Central Bank of Ireland.^[26]

In July 2020, it was announced that Paysafe bought payment gateway Openbucks for an undisclosed amount of money. It was announced that the Openbucks team would become part of the parent company's eCash solutions group.^[27][28][29]

In December 2020, the company announced that it had entered into a definitive agreement to merge with special-purpose acquisition company, Foley Trasimene Acquisition Corp, in a US$9 billion transaction.^[30]

Products and services[edit]

The company provides the following products and services:

• Neteller is an electronic money/digital wallet service that allows consumers to add, withdraw and transfer funds to and from merchants and other people.^[31] Net+ prepaid payment card available in eight currencies is mainly intended to be used with Neteller and is accepted as normal MasterCard payment card.^[32]
• Skrill is a product that allows payments and money transfers to be made through the Internet, with a focus on low-cost international money transfers.^[33]
• paysafecard is a prepaid payment method that allows customers to make payments online without the use of a bank account or credit card information.^[34]
• Payolution is e-commerce payment product which allows customers to 'buy now, pay later'.^[35]
• Fans Entertainment is a mobile commerce product which offers mobile ordering.^[36]
• IncomeAccess is an affiliate marketing and business intelligence provider.^[37]

Sponsorship[edit]

Optimal Payments was the official sponsor of Crystal Palace Football Club for the 2014/15 and 2015/16 seasons, with the front of the team's shirts displaying Neteller's logo.^[38]

In February 2018 it was announced that Paysafe would sponsor the No. 19 Dale Coyne RacingHonda, shared by Zachary Claman DeMelo and Pietro Fittipaldi, in the 2018 Verizon IndyCar Series.^[39]

References[edit]

1. ^ ^ab'NETBANX Limited: Private Company Information'. Retrieved 26 March 2015.
2. ^'Atlanta fintech startup KyckGlobal raises $8 million'. www.bizjournals.com. Retrieved 2020-06-11.
3. ^'WageWorks plunges 17 percent as auditor says company withheld information'. www.bizjournals.com. Retrieved 2020-06-11.
4. ^'People moves: CRO role for SG's Ricke, Barclays continues hiring spree, new SwapClear head, and more'. Risk.net. 2019-07-11. Retrieved 2020-06-11.
5. ^'Paysafe hits carbon neutral status'. Finextra Research. 2020-04-22. Retrieved 2020-06-11.
6. ^'Philip McHugh Replaces Joel Leonoff as Paysafe CEO Finance Magnates'. Finance Magnates Financial and business news. 2019-05-30. Retrieved 2020-06-11.
7. ^ ^abc'Annual Report 2016'(PDF). Retrieved 22 April 2017.
8. ^'Optimal Payments PLC (OPAY.L) Company Profile'. Reuters. Reuters. Retrieved 26 March 2015.
9. ^ ^ab'Hogan Lovells results for calendar year 2017'. hoganlovells.com. 23 February 2018. Retrieved 28 August 2018.
10. ^'Company Overview of Optimal Payments (Ireland) Limited'. Bloomberg L.P. Retrieved 27 March 2015.
11. ^'Neteller Arrests'(PDF). Justice.gov. 16 January 2007. Retrieved 27 March 2015.
12. ^'United States of America vs. Stephen Eric Lawrence'(PDF). Steptoe.com. Steptoe & Johnson LLP. 16 January 2007. Retrieved 27 March 2015.
13. ^'Neteller acquires Netbanx for £12.36 million cash'. Finextra. 1 November 2005. Retrieved 27 March 2015.
14. ^'Neteller changes name to Neovia Financial'. Finextra. 17 November 2008. Retrieved 27 March 2015.
15. ^'Neovia Financial PLC - NEOVIA completes acquisition of Optimal Payments' (Press release). Reuters. 2 February 2011. Retrieved 27 March 2015.
16. ^'Neovia Financial PLC - Confirmation of name change' (Press release). Reuters. 4 March 2011. Retrieved 27 March 2015.
17. ^Reynolds, Bill (1 October 2014). John Lefebvre, Neteller and the Revolution in Online Gambling. ECW Press. p. 377. ISBN1770905723.
18. ^'Optimal Payments to acquire California based Meritus Payment Solutions to accelerate expansion in U.S. payments market' (Press release). London, Montreal, New York: Yahoo! Finance. CNW Group. 2 July 2014. Retrieved 27 March 2015.
19. ^'Optimal Payments to buy e-wallet rival for $1.2 billion' (Press release). Reuters. 23 March 2015. Retrieved 27 March 2015.
20. ^'Optimal Payments rebrands as Paysafe'. thepaypers.com. 10 November 2015. Retrieved 21 April 2019.
21. ^'Paysafe moves to London Stock Exchange's Main Market today'. Leap Rate. 23 December 2016. Retrieved 3 March 2016.
22. ^'Neteller and Skrill to pull prepaid Mastercard from 100 countries'. latestcasinobonuses.com. Retrieved 2016-11-27.
23. ^'Paysafe is about to be sold for almost 3 billion pounds - Slotsday'. Slotsday. 2017-08-05. Retrieved 2017-08-05.
24. ^'Mergers: Commission clears acquisition of Paysafe by CVC and Blackstone'. European Commission. Brussels. 22 November 2017. Retrieved 26 January 2018.
25. ^'Official List - Cancellation - Paysafe Group Plc'. London Stock Exchange. 21 December 2017. Retrieved 26 January 2018.
26. ^'eWallet-Optimizer • Paysafe Brexit Plans'. eWallet-Optimizer. 2019-04-02. Retrieved 2019-04-02.
27. ^'Paysafe Group acquires Openbucks'. www.mobilepaymentstoday.com. 28 July 2020.
28. ^'Paysafe To Buy Openbucks and other Digital Transactions'. Digital Transactions.
29. ^'Paysafe card added as a payment option in Microsoft store'. Finance Magnates.
30. ^'Paysafe Is Near a $9 Billion Deal to Go Public'. Bloomberg. 2020-12-07. Retrieved 2020-12-14.
31. ^'Accept NETELLER in your Ecommerce Shop'. About Payments. Retrieved 28 March 2015.
32. ^'Net+ Prepaid Card Review'. Prepaid365. Retrieved 28 March 2015.
33. ^'Skrill Holdings Limited: Private Company Information'. Retrieved 26 March 2015.
34. ^'Paysafecard'. Mollie. Retrieved 31 December 2017.
35. ^'Payolution launches in UK'. Payolution. Retrieved 31 December 2017.
36. ^'About us'. Fans Entertainment. Retrieved 31 December 2017.
37. ^'About us'. IncomeAccess. Retrieved 31 December 2017.
38. ^'Optimal Payments Becomes Official Shirt Sponsor'. Crystal Palace F.C. Official Website. 7 July 2014. Retrieved 31 March 2015.
39. ^Malsher, David (2018-02-07). 'De Melo confirmed at Coyne with Paysafe sponsorship'. Motorsport.com. Retrieved 2018-02-18.

External links[edit]

PaySafe casinos in Australia have success. Such a payment method provides convenience and security, which is why its popularity keeps growing. AusCasinoSites.com will tell you everything about the casinos that accept PaySafeCard in Australia. Learn all the essentials of the application of this prepaid payment system in your country as well as its pros and cons.

Australian best casinos that accept PaySafeCard

What is PaySafeCard and how can you use it on online casinos?

PaySafeCard was created in 2000 with a head office located in Vienna, Austria. It was initially a plain prepaid card. Later, it transformed into an electronic voucher service, which was formed thanks to the years of development. The first payments with the help of this system were made in 2004. Modern My PaySafeCard was launched in 2013, after a merger with Skrill. In 2015, it became a part of the PaySafe Group. Today it’s used as a kind of electronic wallet in over 40 countries. The system provides a great number of services and a generous loyalty program.

There are 23 currencies supported by PaySafeCard. It provides the highest level of security and simplicity. This payment method is extremely popular in Australia, that’s why there are so many casinos that accept PaySafeCard here.

It’s easy to use it for various purposes. You just buy a voucher (which looks like a plastic card or paper strip) with a definite value, which contains a 16-digit PIN code applicable to various web resources including the definite Australian online casinos that accept PaySafe card. Using this code, you can easily make deposits. The code gets activated on purchase. There are several denominations available:

• $10
• $20
• $50
• $100.

No registration, account creation, or credit card/bank account details are required to use PaySafeCard for casinos or other websites. Thus, there’s no information transfer. In addition, it’s possible to buy a prepaid card with cash from a physical retailer. Online purchase is also available on the official store. To find a retailer, download a special app for your mobile device. There’s also an online tool available. There exist over 5 million outlets all over the globe, where vouchers are available. There are lots of retailers in Australia including ePay, News Xpress, WHSmith, Woolworths, IGA, The Lucky Charm, BP, EzyMart, etc.

There are many casinos that use PaySafe vouchers throughout the world including Australia. Gamblers don’t even need to have a bank card to use the system.

Besides the vouchers, PaySafeCard offers other services:

• My PaySafeCard (it might be used to store PINs when you buy a few ones and funds, make payments, etc.);
• A prepaid MasterCard (use it for various online payments with the money on My PaySafeCard account).

Note that additional services provided by this system will require your personal data.

How to make deposits on online casinos using PaySafe?

PaySafeCard on online casinos can be used for deposits. It’s so easy! To make a payment, follow the steps:

1. Buy a prepaid card with one of the methods available;
2. Open an online casino that accepts PaySafeCard;
3. Press ‘Cashier’ and select a deposit option;
4. Choose the corresponding method to pay;
5. Write a desirable amount of money to deposit (there’s no need to spend all the amount available on your card);
6. Enter a 16-digit PIN code in a corresponding field;
7. Get the money on your casino account and start playing gambling games.

It’s possible to deposit as much as $100 with one prepaid card. You can use several cards to deposit larger amounts if necessary. The maximum number of cards to make a deposit at one time is 10 (it means that the maximum amount you can deposit is $1,000). All the deposits are instant, so you won’t have to wait for your funds, to enjoy gambling.

You can download a special app, which will inform you of the money left on a card. It’s accessible from iOS and Android devices. The app will additionally help find the closest retailer to buy a card.

How to withdraw your winnings from the casinos that accept PaySafeCard in Australia?

The casinos that accept PaySafeCard in Australia in 2020 cannot accept prepaid cards as a payout method. Just put money back on such a card, enter a code, and can throw it away. The only way out in this situation is the application of My PaySafeCard. You need to open a ‘Cashier’ on the website of the casino you play, enter an email address linked to your account, and select the desirable sum to withdraw in a pop-up form. After this, the amount will be transferred to your account. The transaction is immediate.

Remember that it isn’t the same case as the prepaid card application. Using your My PaySafeCard, you reveal certain personal data to process the transaction. As soon as your money appears on your account, you can easily withdraw it to your bank card or bank account. For such financial operations, account number, sort code, name, BIC, IBAN, name of the bank, and copies of photographic ID are to be provided. The transaction takes up to 2 weeks.

Does this payment method support the Australian currency?

PaySafe casinos in Australia are numerous due to the opportunity to make payments with Australian Dollars using this method. The amount of funds available is indicated in AUD. The players buy the prepaid cards for the same currency either online or from a physical retailer.

Is it a safe payment method for gamblers?

PaySafeCard provides a high level of security. With prepaid cards, the users can preserve their anonymity because no personal information (as well as bank/credit card details) is required to make deposits. Thus, you’ll never be connected with any gambling activity. For this, it’s important to buy your prepaid cards from authorized retailers not to become a victim of fraud.

What Is Paysafecard Used For Today

Are the transactions with PaySafeCards chargeable?

Online gambling platforms don’t charge deposits and payouts, which are made by means of a PaySafeCard system. The only extra money you might need to pay is usually included in the price of your voucher.

The fees can be required only in several cases:

• A user might be charged monthly fees for the absence of activity on My PaySafeCard account for over 12 months. The monthly amount totals $3.
• If you need to make a payment in a currency, which is different from the one of your country (in other words, a conversion is required), extra fees will be taken from your card amount.
• If you use additional services provided by PaySafeCard, for example, withdraw money from your My PaySafeCard account to your bank account, you’ll have to pay an additional amount of $6.
• If you ask Paysafecard for a cash refund of a balance value of your PINs, a redemption fee will be then.

There are no hidden payments or fees associated with the application of the PaySafeCard vouchers.

How fast are financial operations processed?

When you buy a prepaid card to make a deposit in an online casino, you can get the money on your account instantly. The funds become instantaneously available for gambling. Concerning payout operations, which are made through the application of My PaySafeCard account, you can immediately get the money. However, to withdraw the funds to your bank account, it is necessary to wait for 2 weeks to have your request processed and fulfilled.

Benefits and drawbacks of PaySafeCard payment method

Desktop and mobile casinos accepting PaySafeCard are highly demanded among the Australian gamblers. However, this payment method has not only advantages but also certain negative sides, which are as follows:

• It can’t be used for cash-out (except for the cases when My PaySafeCard account is used);
• There exists a limited number of cards to make a deposit at one time;
• The limited amount is available on the prepaid cards;
• It’s not very common compared to Visa/MasterCard payment methods (not all the Australian casinos accept it);
• There are fees required for the additional services application;
• For withdrawals, the provision of the identification data is obligatory.

PaySafeCard possesses plenty of benefits as well:

Buy Paysafecard Online

• The ease of prepaid cards application;
• The opportunity to use prepaid cards for multiple purposes (online stores, music, entertainment, casinos, etc.);
• Instant deposits and payouts (to My PaySafeCard account);
• No fees for deposits and withdrawals;
• No personal information required when a prepaid card is used (the anonymity is ensured, so you won’t become a victim of fraudsters);
• The possibility to control your expenses due to the limited amount available of your card;
• The possibility to use several prepaid cards at a time;
• Vouchers purchase either online or from a physical retailer;
• No obligation to use the total amount of money available;
• Additional bonuses from many casino websites for deposits made by means of PaySafeCard.

What Is Paysafecard Used For Now

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