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ACTIVITIES :: eTen :: Projects :: Projects of the Month :: Paysafecard

July 2007 Project of the Month: Paysafecard

paysafecard – Europe’s first prepaid card for micropayments on the internet for provider independent use

Issues being addressed

At last you can pay with cash on the internet! Whether you want to play a game on-line or go shopping, by choosing paysafecard you will be getting a safe and simple solution; without having to use a credit card or access a bank account.

While e-commerce is booming, still not everyone has the facility to pay for goods and services online. The reasons for this may be lack of ownership of a credit card or unwillingness to provide personal information on the Internet.

The paysafecard project provides a viable solution to overcome such issues. paysafecard enables everyone to pay with cash on the internet as it does not require a bank account or a credit card or any other personal data, but only a simple prepaid card that allows for payment on the internet.

paysafecard.com Wertkarten AG, headquartered in Austria, launched paysafecard in November 2000. paysafecard was the first and has now become the leading prepaid card in Europe for online payments. paysafecard enables web shoppers to pay electronically without disclosing any personal data such as bank account or credit card number, by simply validating transactions through the paysafecard PIN code. Needless to say that it reduces the time required to complete a payment in a matter of seconds.

Currently paysafecard is available in over 90.000 physical outlets in Austria, Germany, Spain, Greece, UK, Slovakia and Slovenia; further countries will follow in 2007. The number of web shops accepting paysafecard as a means of payment is now well over 2.000. Since the year 2000 paysafecard.com Wertkarten AG has concluded strategic partnership agreements with BAWAG P.S.K. Group and Commerzbank AG.

Objectives of the project

The objectives of the projects are to:

• extend the service to new markets such as Greece, Slovenia, Slovakia, Spain, Poland, Italy, Czech Republic, Hungary, France, Belgium, Netherlands, Luxembourg and UK
• increase the number of European web portals accepting paysafecard as a payment method
• widen the range of products, consumers can buy online using a paysafecard
• strengthen the use of paysafecard in new consumer segments
• enlarge the distribution network, so consumers have more outlets they can walk into to purchase an electronic PIN code
• set up local paysafecard offices in selected European markets to improve quality of service
• install additional key account managers and customer care agents at the head office

Services

paysafecard is designed to guarantee secure and easy online payment transactions for all online goods and services ranging from ringtones or music downloads, to games and physical goods - without the need to reveal personal or banking data on the Internet. Unlike commonly used credit or debit card transactions, paysafecard users authorize the transaction by entering a PIN code, similar to the system used with prepaid phone cards. paysafecards are available in values of €10, €25, €50 and €100 that can be purchased by cash in more than 90.000 sales outlets all over Europe.

In order to pay, the 16-digit PIN – featuring on the card or a printout from a machine - needs to be entered online. If you need to pay larger amounts, users can easily combine up to ten paysafecards by entering the PIN code for each card as needed. paysafecard also allows payments in foreign currencies, such as US dollars. Users may also choose to protect their paysafecard with a secret password which will then have to be entered whenever a payment is made.

Achievements

The advantages offered by the prepaid paysafecard are obvious: payable by cash at the sales outlet, the funds are available immediately, no chance for fraudulent misuse of private or banking data on the Internet and no transaction-related costs to the customer.

A proven success – more than 5 million card transactions were executed in 2006, numbers even increasing at the beginning of 2007 to exceed all expectations. By now paysafecard is available in more than 90.000 sales outlets in the following countries:

• Austria (start in 2000)
• Germany (start in 2001)
• Greece (start in February 2006)
• Slovenia (start in February 2006)
• Slovakia (start in June 2006)
• Spain (start in August 2006)
• UK (start in November 2006)

Furthermore, by the end of the year 2007 paysafecard is planned to be established in many more European countries such as Belgium, Netherlands, Poland, France and Italy.

To be ready for the international markets paysafecard successfully redefined the brand in May 2007. paysafecard positions itself with the claim "pay cash. pay safe."

Expected benefits by the end of the project

By the end of the project paysafecard should be established as a means of payment throughout Europe.

Partners

Reference Data