Paysafecard is a prepaid online payment method that is not related to your bank account or debit/credit card. Unlike digital wallets, Paysafecard is actually a voucher. The voucher contains a 16 digit pin, which is necessary in order to complete an online payment. That way, no personal information is exposed when making the payment.
It was founded in 2000 in Vienna, Austria and in the years to follow, they started covering many European countries. In 2011 they acquired the Dutch competitor Wallie and later the British competitor Ukash. These acquisitions led to Paysafecard’s acquisition by Skrill. A couple of years later the Skrill Group, including Paysafecard, was acquired by Optimal Payments Group. After the acquisitions, Optimal Payments Group rebranded as Paysafe Group. The company is authorised by the Financial Conduct Authority (FCA) in the United Kingdom under the UK Electronic Money Regulations 2011 for the issuing of electronic money and payment instruments.
During the years, Paysafecard has won several awards. These include 2012 Most Innovative Prepaid Solution Europe and 2016 Best Online or Mobile Commerce Solution issued by the US Paybefore media group. Paysafecard also won 1st place in the category New Working World and Quality of Living in the 2018 Austrian Great Place to Work contest.
Nowadays, Paysafecard is available in over 40 countries resulting in over 12 million users. Paysafecard is available in most of the European countries some countries in North and South America, Australia and New Zealand and few countries in the Middle East. You can find the full list of countries on their website.
How does it work
Paysafecard is a prepaid payment method like topping up a prepaid sim card. You purchase a voucher with a certain amount on it and you can’t spend more than that. There are over 650 000 sales outlets around the world where you can buy the vouchers. The vouchers are in amounts ranging between 10 and 100 euros. The Paysafecard has a unique 16 digit PIN, that you need to enter in order to make the online payment. This PIN is valid as long as there is still money left.
An easier way to make the payments is if you register an online account. You can then upload purchased Paysafecard PINs to this account and make the payments using only your username and password. This means that you can add more than one Paysafecard PINs, with different amounts and you will have an overview of your total credit added. On top of this, having an online account makes it possible for you to quickly top up, without the need to enter the PIN. You just have to generate a barcode, go to a sales outlet that offers Paysafecard direct, show the barcode and pay the amount. The funds will be on your account in a matter of minutes.
Another advantage of having an account is that you can manage it on your smartphone. Paysafecard has an app for Android and iOS devices with all the functions. You can use the app to open an account, upload Paysafecard PINs, get an overview of your balance and transactions, change the settings while you are on the move and easily find the nearest sales outlets.
In addition to your online account, you can also order Paysafecard Mastercard. It works like a bank card, you can use it both online and offline in stores that accept Mastercard. You simply add funds to your Paysafecard online account, and the card is ready to use. Plus, you can use this card to make ATM cash withdrawals any time you want.
Online Casino Deposit and Withdrawal with Paysafecard
You can use Paysafecard in many online stores and you can use it to pay for everything from games, online dating, travel services, VoIP (Voice over IP) and messaging services. You can also use it to top up your Skrill and Neteller digital wallets, with a fee of only 1% of the top-up amount.
Most importantly, you can use this payment method for sports betting and online casinos. You don’t need a bank card or bank account, and you do not provide any payment information to the online casino, other than the Paysafecard PIN. This is a very convenient way for those who are a bit sceptical revealing bank information to online casinos. You can just log in to your casino account, choose Paysafecard as a deposit method and enter the PIN. Your account will be topped up immediately, without any additional fees (unless the casino charges for deposits with Paysafecard).
To withdraw the funds to Paysafecard, you will need to have a Paysafecard account, otherwise is not possible. Before withdrawing the money from your online casino account, is best to check the fees that the casino charges for withdrawals and choose the one without any fee or with a small fee. You should know that Paysafecard doesn’t charge a fee, so the casino shouldn’t charge as well. To do the withdrawal, just go to the withdrawals section of your casino account and choose Paysafecard as the withdrawal method. Again, you won’t need to provide any bank information other than your email address used for your Paysafecard account.
Paysafecard Fees and Limits
The greatest advantage that Paysafecard has over digital wallets is that there are no fees for making payments. However, there might be some small fees for maintaining your account, it all depends on the country you are in. After the 7th month, a maintenance fee in the amount of €/£3 is applied. Additionally, from the 13th month, a monthly fee of £/€5 will be deducted if you haven’t used Paysafecard in the past 12 months. As with any online payment provider, Paysafecard charges a fee for transactions involving conversion into foreign currency.
The limits are also an important thing you need to know before using Paysafecard. The limits depend on the country you are in and the currency. There is a limit per transaction of 50 EUR (or equivalent) for all users. But, if you decide to order the Paysafecard Mastercard, the limits are much higher. For instance, the limit per transaction is 1000 EUR while the daily transaction limit is 2000 EUR. The daily ATM cash withdrawals limit is 400 EUR, while the monthly ATM cash withdrawals limit is 1000 EUR. The best news is that you can have a card balance of a maximum of 5 000 EUR at any time, while without the card this limit is much less.
Paysafecard is probably the most secure payment method that you can use, as is like paying in cash. You never give away your personal information online, so the risk of identity theft and fraud is almost zero. It is impossible to hack Paysafecard PINs due to numerous security mechanism. In addition, there is also the possibility to lock your PIN anytime if you suspect possible fraud.
Paysafecard guarantees the safest solution, but it requires that you also pay attention and follow their guidelines for protection. First, make sure you only use authorized online shops when making payments with Paysafecard. Most importantly, never provide any other banking information. Second, never send your Paysafecard PIN over email or phone. Another security measure is to create long passwords, where you mix uppercase and lowercase letters with numbers and symbols. Finally, check your account regularly and if you notice any suspicious activity, report it right away.
How to open an account with Paysafecard
As we already mentioned, opening a Paysafecard is preferable if you are planning to use this payment method for online payments or for playing in your preferred online casino. The process is easy, as you only need to go to their website and click the SIGN-UP button at the top right corner. The information required is as follows:
- Country of residence – before registering, make sure to check whether Paysafecard is available in the country you reside in
- Create your login details – enter your email address, create username and password
- Verify your email – once you provide your email address, you will receive an email to verify the account, so you can proceed with the registration process
- Enter your personal details – provide your full name and date of birth
- Enter your address details – provide your full address
- Enter your mobile number – you will receive a text message containing a PIN that you need to enter in order to complete the registration process
Recommended Casinos accepting Paysafecard payments
Choosing the right online casino for you is not an easy thing. You will definitely need to read a lot of reviews to see whether the casino you think of using offers everything you want. If accepting Paysafecard payments is one of the important things for you, we have a couple of recommendations for you.
Betfair online casino accepts Paysafecard payments. It is one of the most popular and the casino that invented the idea of “betting exchange”. The actual reason why we recommend this casino is because they offer different types of welcome bonuses. For instance, there is a welcome bonus for casino, if you want to play slot games and table games. On the other hand, if you are more into live casino games there is a separate bonus for those customers. A this wasn’t enough, they offer a separate welcome bonus and loyalty program for poker players.
Another casino that accepts Paysafecard payments is William Hill Casino. Offers a wide range of games, many promotions and a welcome bonus, a100% deposit bonus of up to €300 for casino customers. Same as Betfair casino, William Hill has bonuses for Live casino players, a welcome package for poker players, plus a welcome bonus for bingo players. For more information, you can read our extensive review HERE.