Paysafecard

What Paysafecard does

Paysafecard operates a prepaid online payment solution enabling consumers to pay for digital goods and services using cash or cash-equivalent balances without requiring a bank account or credit card. The core product is a closed-loop voucher system delivered through a unique 16-digit PIN code purchased at physical retail outlets (including CVS Pharmacy, Dollar General, ASDA, WHSmith, and hundreds of thousands of additional points-of-sale) or through online resellers. The product is targeted at unbanked or underbanked consumers, privacy-conscious users, young gamers, and online gambling enthusiasts, and is accepted at thousands of online merchants concentrated in gaming, gambling, and entertainment verticals. The technology stack includes a mobile application for iOS and Android, a web-based administration tool for managing multiple PINs, a balance-check utility, a currency converter, and a gift card shop. The US product is issued by The Bancorp Bank N.A. (Member FDIC) and the UK product by Prepaid Services Company Limited (FCA-authorized under FRN 900021), with the Swiss entity operating under FINMA-supervised SRO TREUHAND | SUISSE membership.

The company monetizes through two primary revenue streams: per-transaction processing fees charged to merchants and payment processors on each PIN redemption, and recurring monthly maintenance fees applied to dormant balances (from month 2 for unregistered accounts and month 13 for registered accounts). Distribution is hybrid: heavy reliance on physical retail partnerships (channel-led) combined with self-service online redemption and an optional free registration tier that unlocks higher transaction limits (up to $300 in the US or GBP 1,000 in the UK) and access to the mobile app and gift card shop. The Mastercard-licensed UK product extends the proposition into open-loop prepaid. Paysafecard operates as a brand under the Paysafe Group (Paysafe Limited) umbrella, which has received significant private equity investment from Apollo Global Management. The brand is currently active in over 50 countries across Europe, North America, Latin America, the Middle East, and Oceania, with localized websites in multiple languages.

Name

Paysafecard

Legal name

PaysafeCard.com Wertkarten GmbH

Website

https://paysafecard.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Paysafecard is a prepaid online payment provider enabling consumers in 50+ countries to pay online with cash via 16-digit PIN codes purchased at retail or online, without requiring a bank account or credit card, serving unbanked users, gamers, and online gambling merchants.

Ownership category

akta.pro rank

Product category

Prepaid Online Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Credit Card Issuing (52221)

SIC

Finance Services (6199)

akta.pro primary industry

Prepaid, Gift Cards & Voucher-Based Payments (MPAEALAE)

akta.pro secondary industries

Cash-to-Digital Networks (PayNearMe, Barcode/Cash-in) (MPAEALAF), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)

Keywords

• Prepaid payment solutions
• Online cash payments
• Digital voucher systems
• Alternative payment methods
• Prepaid Mastercard services

Headquarters

HQ city

Viana

HQ country

Spain

HQ region

Europe

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Transaction Processing Fees: PaysafeCard earns revenue from transaction fees charged on payments. While no fees are charged to users for payments to online shops, merchants and payment processors may incur fees that contribute to revenue. Currency exchange fees may also apply for international transactions.
2. Monthly Maintenance Fees: Monthly maintenance fees are charged on accounts after initial periods. UK accounts incur fees from the second month (without registration) or from the 13th month (with registration). This provides recurring revenue from active users.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Paysafecard provides consumers with an online payment method using 16-digit prepaid PIN codes purchased with cash at retail outlets, removing the need for bank accounts or credit cards. Users redeem the PINs at thousands of online merchants including gaming, entertainment, and licensed online gambling sites, with optional free registration unlocking higher transaction limits and additional features. Regional issuers (The Bancorp Bank N.A. in the US and Prepaid Services Company Limited in the UK) provide the regulated e-money and card-issuance infrastructure behind the vouchers.

Product overview

PaysafeCard is a prepaid payment solution provider offering a portfolio of products centered on its core 16-digit prepaid voucher system. The core offering allows users to pay online with cash at thousands of participating merchants without requiring a bank account or credit card. The product ecosystem includes a mobile app for iOS and Android providing account management and balance checking, a web-based Administration Tool for registered users to manage multiple PINs, a Balance Check feature for checking remaining funds, a Currency Converter for international transactions, and a Gift Card Shop for purchasing branded gift cards. Additional sub-brands include PaysafeCard Mastercard (UK) and Branded Gift Cards available through retail partners like CVS Pharmacy and Dollar General. The solution is available across multiple regions including the US, UK, UAE, and Uruguay, with different issuers and regulatory bodies per region.

Differentiator

Problem solved

Functional benefit

Products and services

• Paysafecard Prepaid Voucher A prepaid 16-digit code payment solution that lets consumers pay online with cash at thousands of merchants without needing a bank account or credit card, purchased at physical sales outlets or online partner webshops and redeemed at checkout.
• Paysafecard Branded Gift Cards Branded gift cards from major retailers (including CVS and Dollar General) that users can buy and use through the Paysafecard system, available in-store at retail partner locations and via the online Gift Card Shop.
• Paysafecard Mastercard A prepaid Mastercard issued by Prepaid Services Company Limited (UK, FCA-regulated) under license from Mastercard International Inc., available in the UK for digital payments and broadening the Paysafecard acceptance footprint beyond 16-digit PINs.

Quantifiable outcome

• Enables secure online payments without bank account or credit card
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature6 records

Partnerships

Seven partnerships are on record, tiered core, major and minor.

• The Bancorp Bank N.A.coreStrategic or Co-development PartnerThe Bancorp Bank N.A. headquartered in Wilmington, Delaware is the issuing bank for PaysafeCard closed loop gift card tickets. As Member FDIC, the bank provides the financial infrastructure and regulatory backing for the prepaid card program in the United States. This is a critical partnership enabling the core product offering.
• Prepaid Services Company LimitedcoreStrategic or Co-development PartnerPrepaid Services Company Limited is licensed by the Financial Conduct Authority (FCA) in the United Kingdom under UK Electronic Money Regulations 2011 (FRN: 900021). It issues PaysafeCard Mastercard and provides UK-focused prepaid services. London-based entity responsible for UK operations and regulatory compliance.
• CVS PharmacymajorChannel Partner/ Reseller/ DistributorCVS Pharmacy serves as a retail distribution partner where customers can purchase physical PaysafeCard gift cards. Available at CVS Pharmacy store locations across the United States. Physical cards must be purchased in-store; e-cards purchased online are not accepted.
• Dollar GeneralmajorChannel Partner/ Reseller/ DistributorDollar General partnership enables PaysafeCard gift card sales at Dollar General stores across the United States, expanding retail distribution into the value retail segment.
• PC Game SupplyminorChannel Partner/ Reseller/ DistributorPC Game Supply is an authorized online partner webshop where customers can purchase PaysafeCard codes digitally. Provides online access to PaysafeCard vouchers without visiting physical retail locations.
• epaymajorChannel Partner/ Reseller/ DistributorGlobal payment processor and prepaid product distributor enabling PaysafeCard distribution through their terminal network at retail locations worldwide.
• Mastercard InternationalcoreStrategic or Co-development PartnerPaysafeCard Mastercard is issued by Prepaid Services Company Limited under license from Mastercard International Inc. The partnership enables Mastercard-branded prepaid card functionality, expanding acceptance and usability of the PaysafeCard ecosystem.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• PayNearMe: PayNearMe is the closest direct competitor to Paysafecard in the cash-to-digital space, providing barcode-based cash payment networks at retail locations for online merchants including iGaming, lending, and consumer finance. Both products enable unbanked consumers to convert cash into online payment credits and serve similar verticals.
• Neosurf: Neosurf is a European-headquartered prepaid voucher competitor with the same 16-digit PIN-based model and similar distribution through convenience stores and gaming merchants. It directly competes for both end users and online merchant acceptance in gaming and digital goods.
• Flexepin: Flexepin offers prepaid voucher codes distributed through retail networks for online payments, particularly in gaming and digital services. It is a direct functional substitute to Paysafecard with overlapping geographic coverage and merchant base.
• AstroPay: AstroPay provides prepaid virtual cards and voucher-based payment solutions for online merchants, with strong presence in LATAM and emerging markets serving the same unbanked and gaming-focused customer segments as Paysafecard.
• ecoPayz (PSI-Pay): ecoPayz is a UK-regulated e-money account and prepaid payment provider offering similar cash-funded online payment functionality, with comparable merchant acceptance in gaming, gambling, and digital goods verticals.

Broad incumbents

• Skrill: Skrill is a sibling brand under Paysafe Group providing digital wallets and prepaid card products targeting online merchants, gaming, and FX/crypto. Comparable on customer base and verticals, and competes with Paysafecard for the same users in many markets.
• Neteller: Neteller is another Paysafe Group digital wallet brand serving online merchants, gaming, and FX. Operates an overlapping customer base with Paysafecard and represents an internal substitute within the parent company's portfolio.
• Paysafecard's Skrill and Neteller siblings: Within the Paysafe Group, Skrill and Neteller offer digital wallet and prepaid card alternatives to Paysafecard's voucher model. They compete for the same end users and merchant acceptance while leveraging shared compliance, banking, and technology infrastructure.
• PayPal: PayPal is a broader digital wallet incumbent with massive merchant acceptance and increasingly integrated cash funding options. While it does not directly compete in anonymous prepaid vouchers, it competes for the same end-user online payment occasions and merchant acceptance slots.

Regional players

• MoneyGram: MoneyGram serves as both a Paysafecard distribution partner and a partial competitor in cash-to-digital payments. Its global retail cash-in network overlaps with Paysafecard's distribution strategy, and its online payment products address similar unbanked consumer needs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/paysafecard
• Facebookfacebook.com/paysafecard
• Instagraminstagram.com/paysafecard
• LinkedInlinkedin.com/company/paysafecard-com

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paysafecard