History of Paysafecard
Paysafecard.com was created in Vienna in 2000. IBM Austria supplied the firm with all the resources it needed to get off the ground fast, and the following year it expanded into Germany. Paysafe extended its activities after winning EU financing to include Slovenia, Greece, Slovakia, Spain, and finally the United Kingdom.
In 2013, Paysafecard was purchased by Skrill, a digital wallet company. Skrill was able to make use of Paysafecard's massive offline distribution network as a result of the industry-shaking transaction. Two years later, Skrill was acquired by the Optimal Payments Group which it rebranded as Paysafe Group.
And with that, we've arrived at the present day. Paysafecard may now be purchased at more than 500,000 retail locations worldwide. In addition, a big number of internet casinos support it.
How Paysafecard Works
Paysafecard is a prepaid credit card that may be used to make purchases online. Entropay, PayPal, and e-wallets like Neteller do not need you to provide personal financial information like credit card or bank account details when depositing or withdrawing money from an online casino.
Any of these locations will sell a 16-digit Paysafecard PIN for the following amounts: £10; £25; £50; £75; or £100. You can get even more money at a PayPoint, where the maximum amount you may buy is £175. It is possible to make an online purchase from one of the many thousands of online businesses or make a deposit at an online casino using this 16-digit number.
Create an online account named my Paysafecard with your 16-digit Paysafecard PIN once you get it. Your bought PINs may be stored in this manner, ensuring that all of your data is centralized and safe.
Once you've registered a Paysafecard account, you may use your username and password to make payments to online casinos. All of your online account's funds may be accessed with just a single login if you add several Paysafecard PINs to your account.
After then, a Paysafecard choice should be readily available to you. You'll be able to fund your player account after you've chosen this as your preferred deposit method.
Is Paysafecard available in the UK?
Yes, Paysafecard is regulated by the UK Gambling Commission and authorised by the Financial Conduct Authority (FCA), the regulatory authority that regulates all electronic payments.
Is Paysafecard Safe to Use?
Just because there is "safe" in the name of service doesn't necessarily mean that it actually is. Paysafecard, on the other hand, is extremely safe due to the fact that no personal information, such as a bank account number, is required. Since no sensitive data may be intercepted during online transfer, there is no risk.
Using Paysafecard on Mobile
Paysafecard is also accessible as an app for iOS and Android users.
Your account may be accessed on the go after downloading the app.
There are Paysafecard PIN dispensers where you may get fresh PINs and check your balance.
Online casinos, like other prepaid or e-wallet services, do not require the entry of your credit card or bank account details. This information is never entered online in the case of Paysafecard because the PINs are purchased in-store. This distinguishes it from other services of its kind. Because Paysafecard requires you to leave your house in order to recharge your account, it may be inconvenient in the long run.
Using Paysafecard at Online Casinos
When it comes to deposits, Paysafe has fees that are either non-existent or extremely cheap. There are no fees associated with making a deposit at an online casino. Maintaining an online account with Paysafecard is free, but you'll have to pay a $3 charge to keep your pin safe if you do so. Every month, this will be taken out of your account. Paysafe deposits may be subject to a currency conversion fee if made at an out-of-country online casino (which we strongly discourage).
Paysafecard is widely accepted as a payment mechanism by most UK-based online casinos. Even though it isn't as widely used as online payment systems like Neteller or PayPal, the organization has tremendous internet and physical reach.
Unfortunately, Paysafecard withdrawals aren't available. In order to cash out your winnings from an online casino, you'll need a different way. With so many alternatives accessible to gamers, this shouldn't be too tough. Check out our casino payment methods area if you're unsure which one to choose. You'll discover several transaction specialists in a variety of categories.
Wrap-Up
Compared to other deposit/withdrawal systems, Paysafecard performs exceptionally well. As previously stated, there are no costs and the transmission of cash is instantaneous. Because it's so straightforward, it's ideal for mobile players who want to deposit on the move.
However, it's important to note that credit card top-ups are no longer available in the UK for Paysafecard customers because of a new law from the UK Gambling Commission. In spite of this, debit cards can still be used.
Pros
- Payments are anonymous and secure
- Transactions are processed quickly
- Licensed and Regulated
- Easy to Use
Cons
- Can't top up with credit cards
- Not accepted at all casinos
- Requires payment to maintain account PIN
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