What Is Paysafecard Used For

Time:08.43am.i had brought a $10.00 paysafecard voucher frow our local caltex service station in manurewa,south aucland,new zealand. The voucher has 16 numberz to use,? The voucher i have? U can see the first 8 numbers clearlythen the other four numbers got wet todae in my pocket?and the last numbers i can see clear.

  1. What Is Paysafecard Used For Coronavirus
  2. Free Paysafecard Pin Numbers
  3. How To Get A Paysafecard
  4. What Is Paysafecard Used For
  5. What Is Paysafecard Used For Email
  • Paysafecard can be used at a range of online stores, but the payment method is particularly popular with online casinos, sportsbooks, and poker sites, as well as mobile gaming apps and esports. In 2013, the digital wallet provider Skrill acquired Paysafecard, and now.
  • 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.
Paysafe Group Limited
TypePrivate limited company
IndustryOnline payments
Founded1996[1]
HeadquartersLondon, UK
Stuart Harvey[2][3]
(Chairman)
Philip McHugh[4][5][6]
(CEO)
ProductsElectronic money
Digital wallet
Revenue$1 billion (2016)[7]
$194.4 million (2016)[7]
$142.0 million (2016)[7]
SubsidiariesSkrill, Neteller, paysafecard
WebsitePaysafe Group

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]

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]

What Is Paysafecard Used For Coronavirus

Paysafecard

Free Paysafecard Pin Numbers

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]

Retrieved from 'https://en.wikipedia.org/w/index.php?title=Paysafe_Group&oldid=1008553305'

Since the advent of online betting there have been a raft of different payment methods that have come to the fore. Most people are still likely to simply want to take advantage of typical payment methods such as debit cards or bank transfers, but others will be keen to dig deep on their options and see what’s available. We still live in a world of cash transactions, so many punters like to find ways of using cash to pay for their betting needs. There have been a number of different ways of doing that that have become popular since the advent of online betting, so I’ll have a look at some of them here.

Whether it be getting a store card with bookies that have high street stores in order to be able to pay money into your online account at the same time as you pop to the shops or using a PayPal account to keep all of your transactions in the same place, there are numerous reasons why bettors might not want to use their main bank account all of the time. The PaySafeCard is another alternative that is mainly aimed at the cash-using market that I mentioned a moment ago, with punters having the option to put cash onto them by buying vouchers. That has pros and cons to it, of course, which I’ll explain in this piece.

Recommended PaySafeCard Online Bookmaker

Bet365 are outstanding for payment options and this is also true when it comes to options for betting using cash vouchers like PaySafeCard. Bet365 were one of the first operators to accept the vouchers, which can be purchased with cash or cards in shops displaying a PayPoint symbol.

With a £5 minimum for deposit this is one of the lowest around and you can fund your account with vouchers up to £770 in each transaction too. Another real benefit here is the ability to withdraw if you have a My PaySafeCard account (see later), meaning you don't need to enter any bank details at any stage to withdraw your balance. Withdrawals are also set at a minimum £5 and go up to £2000.

Accurate as of February 2021 from the author’s experience and is subject to change and location. Customer eligibility is the bookmaker’s decision.

What Is PaySafeCard?

The simple summary of the PaySafeCard is that it is a prepaid voucher that allows you to make purchases and transactions online. Given that there are more than two hundred different payment methods available out there, having one that keeps things nice and simple can be a real bonus to some people.

That’s why PaySafeCard is becoming more and more popular with punters, because it allows them to know exactly how much their spending at any given time and to ring fence the funds that they want to use for their online gambling. It also means you don’t need to use a bank or eWallet to transact with your bookie online, although you will still need to verify your ID and address to bet online.

PaySafeCard has the flexibility of cash but the utility of a card when betting online. You can even get yourself a My PaySafeCard account (see later) to store your PIN’s in case you lose them.

How To Get A PaySafeCard Voucher

  • Find a retailer that sells PaySafeCard, look for the PayPoint symbol, the same system used to top up ultities and pay for other services.
  • Head along and buy one of the cards there in the form of a printed page with a 16 digit PIN and a QR code.
  • They’re available in values of £10, £25, £50, £75 or £100, with £125, £150 and £175 being available at PayPoints
  • You find a retailer who accepts PaySafeCards as payment and enter the sixteen digit number found on the card that you bought and the funds instantly will appear in the account

It’s that easy.

Cash Betting and Other Benefits Of PaySafeCard?

The key advantage of using a PaySafeCard over any other payment method comes in the fact that you don’t have to enter any of your own personal banking information when you’re making a purchase or funding a betting account. Obviously if you’re buying an item that needs to be delivered then you’ll have to put your address somewhere, but generally speaking you can simply enter the PaySafeCard’s sixteen digit pin number and make your purchase or, in the case of an online bookmaker, transfer your funds into your account. Although of course remember you need to verify your ID and address with a bookie in order to gamble online.

In this day and age of online fraud, where consumers can find their credit or debit card or bank details stolen from them through no fault of their own, it’s little wonder that so many people are happy to use the PaySafeCard system in order to avoid that sort of thing from happening. Protecting yourself from any kind of situation whereby you might find your personal funds compromised is always sensible and using a PaySafeCard for certain transactions is one of the best ways of doing that.

Another key factor here is that you can use cash rather than your bank balance to purchase a PaySafeCard, making life much easier for those that deal with cash on a regular basis. I used to work in a pub and would regularly get cash tips, so once I’d figured out my tax and national insurance contributions I would then have a large amount of cash money at the end of a working week that I wanted to use. Back then I would have to pay it into my bank, wait for it to clear and then buy things with it via my bank account. Had I known about the PaySafeCard system, however, I could’ve just bought myself a PaySafeCard with the cash and been able to use it straight away.

Other people simply don’t want their bets appearing on their bank statement, and PaySafeCard is brilliant for this. Even with the likes of PayPal, although you can’t see where the money is going you can still see a transaction on the accounts. With PSC this is all cash so no-one needs to be any the wiser as to what you use it for.

Fees and Other Disadvantages Of PaySafeCard?

There are some slight disadvantages to using a PaySafeCard, of course. One of the most obvious ones is that you need to research where you can buy one of the voucher and actually head out and do it. You can pick one up from the likes of WH Smith, McColl’s and ASDA, in case you’re wondering. You can head to the PaySafeCard website and enter your postcode to be presented with a list of venues near to where you live in order to find out where you need to go to get one, but you’ll still need to actually head out and do it.

Perhaps the biggest disadvantage of working with a PaySafeCard is that there’s nothing you can do if you lose one and you’ve not stored it. Let’s say that you head out to your nearest ASDA and hand £100 cash over to get a PaySafeCard with that amount on, head around the store and do the rest of your shopping before heading back to the car. When you’re transferring your bags into the boot of your car you don’t realise that the PaySafeCard you’ve just bought has fallen onto the floor. If that was a debit or credit card then you could simply phone your bank or provider and get them to cancel the card. When it comes to the world of PaySafeCards, however, you don’t have the same option – UNLESS you get yourself a My PaySafeCard account (see next).

Another thing worth mentioning in terms of disadvantages is that some online bookies will charge you a fee for using a PaySafeCard, although most won’t (including our recommended sites at the top of this page). That would mean that you don’t necessarily get the full amount of money that you put on the card, which you’ll need to bear in mind. In a similar vein, some bookmakers don’t allow you to take advantage of welcome offers or promotions if you sign up with a PaySafeCard (although most will, unlike eWallets).

Finally research how you will withdraw before using PaySafeCard. Some betting sites are registered to allow them to generate their own PSC pin numbers, effectively allowing you to withdraw in cash. Most will need you to register a separate eWallet, payment card or bank to withdraw, which kind of defeats the purpose in many ways.

My PaySafeCard

The other thing you can do if you opt to get involved with the PaySafeCard system is get a My PaySafeCard account online. This allows you to collate all of your PaySafeCard PINs in the same place, which means that you can then dispose of the paper copies without fear of losing them. Instead of entering a sixteen digit PIN to pay for things online, you enter you PaySafeCard username and password, making life much easier and keeping things together.

Another advantage of using a My PaySafeCard account is that you can add several PINs together, meaning that you can make larger payments. Let’s say that you’ve set yourself a budget of £1,000 for your betting over the next month. You can buy ten £100 PaySafeCards from your local shop that sells them, load them all up into your My PaySafeCard account and then you’ll know exactly how much you have to spend in the coming weeks.

Every time you make a purchase with your My PaySafeCard account you’ll get points, which can be exchanged for rewards. These include the likes of a discount at place such as Steam Gaming and Skype, or to pay for things like League of Legends. If you recommend friends to use the My PaySafeCard scheme then you’ll get additional points once they’ve signed up. It won’t make a massive difference to your life, but it’s always nice to get stuff in exchange for your loyalty.

Alternatives For Betting With Cash

The most obvious alternative to a PaySafeCard if you’re mainly thinking of using it predominantly for betting purposes is a store card. I’ve written about these in far more detail elsewhere on the site, so I won’t overplay it here. However, it’s worth letting you know about the genuine alternatives that exist so that you can make an informed decision. I’m not talking about alternative like just using your debit card to pay for online transactions, either. I’m talking about the ability to use cash to put money into an online betting account on a regular basis.

The four main high street bookies are now offering store cards to customers who might want to combine their online accounts with bets that they make in real life. These are as follows:

How To Get A Paysafecard

  • William HillPlus
  • CoralConnect
  • LadbrokesThe Grid
  • Paddy PowerCash Card & PPlus Card

As I say, I’ve written about these in far more detail on their own page, but it’s worth giving you a quick summary of what they offer and how they work. In essence, a store card will let you add money to your online account by going into one of the shops above and giving the teller your card and the cash you wish to pay with. If you’re a Betfair customer then the merger between Betfair and Paddy Power means that you can also go into a Paddy Power shop and pay money into your Betfair account in there, too.

The cards do much more than that, of course, essentially transforming your real-life betting into the equivalent of an online account thanks to the offers and promotions associated with them, but the most relevant thing as far as we’re concerned is that you can pay money into your online account using the card system. In certain instances you can then keep track of bets you’ve placed in person using your mobile app or computer, which is a great way of keeping up-to-date with what you’re up to.

Pros and Cons – Cash Cards vs PaySafeCard

There are plenty of reasons why you might consider getting one of the cards offered by the main high street bookmakers, especially if you’re the sort of bettor who like to combine placing wagers online with doing so in real life. Probably the biggest one as far as I’m concerned when it comes to this article is the ability to add cash to your betting account.

What Is Paysafecard Used For

Cash cards also give access to some great features such as cash out of in store bets, added linked promotions and even the ability to track bets in a shop. Then again bets placed online funded by PaySafeCard do the same thing. The out and out major advantage of store cards however is withdrawals, which can be done in cash at any high street bookie shop. With PaySafeCard you will either need to withdraw to another payment method (defeating the object if you want to bet in cash) or withdraw back to PaySafe vouchers which themselves are more limiting than real cash.

What Is Paysafecard Used For Email

In terms of paying for things using cash and remaining mostly anonymous, you’re not going to do much better than getting hold of a PaySafeCard and using it for your online transactions. Just remember than if you’re betting online, a portion of your information will need to given to your bookmaker of choice whether you like it or not, but you can keep your transactions away from your bank account at least.