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Paysafecard: convert cash to a digital payment method

Last Edit: 25/07/18

When it comes to online payments, Paysafecard is an alternative online payment method to a credit card, debit card or bank account. Paysafecard is sometimes referred / classified as an eVoucher. All a consumer needs to do to use a Paysafecard is to visit one of their 400,000 outlets located across the globe, hand over a fixed amount of cash (amounts: 10, 25, 50, 75 or 100 GB) and the vender will provide a Paysafecard with a unique pin code on it.

(Pictured: paysafecard)

The principles of a Paysafecard -- according to the companies blurb -- is that it provides:

- Security: the card is prepaid.
- No requirement to enter personal financial details into websites.
- Ideal for people who have been refused a credit card.

Paysafecard have launched a 'my paysafecard' account section on their website, where customers can top up their account with new Paysafecard PINs and manage their personal details and payment history -- there is also a mobile app for 'my paysafecard'. The Paysafecard website states you can buy Paysafecard from these UK retailers: Asda, WHSmith, McColl's retail group, newsagents with a PayPoint, and One Stop 'your local store'. PayPoint is available at over 29,000 places across the UK.

While there are advantages to a Paysafecard, there is also a drawback: eVoucher payments are accepted at a limited number of online retailers. The Paysafecard website stated in 2013 that over 4000 UK webshops accepted it; an impressive number, but far lower than the number of webshops which accept Mastercard or Visa. It would appear that Paysafecard is accepted by a decent amount of poker, bingo and gaming websites; perhaps this is the retail sector that the card is 'geared' towards.