paysafecard is a well-known method for conveniently paying for products online. It is a secure option that offers users anonymity when shopping online. People who have used it report that it is also very user-friendly. But how exactly does it work and is it really that safe? More on this below.
What exactly is a paysafecard?
paysafecard is a type of electronic payment method that works on the basis of prepaid credit. It has a 16-digit code that starts with 0. This code is used for payments of small and medium amounts. The cards are sold with a preloaded balance of between 5 and 100 euros.
This anonymous payment method is available in more than 46 countries , including online. Higher limits of up to 1000 euros generally apply to payments in online shops. Users can combine up to 10 PINs in one payment.
Paysafe Group
In 2015, Optimal Payments Group acquired the company and changed its name to Paysafe Group . In addition to paysafecard, the Paysafe Group also controls the online payment services Skrill and Neteller .
How does the paysafecard work?
The paysafecard can be purchased both online and in retail stores (e.g. at gas stations). It is preloaded with one of the following amounts: 10, 15, 20, 25, 30, 50 or 100 euros. To use the card, the customer must enter the PIN code on the card in the payment window accessible through the website of the store where he is shopping.
In addition to the PIN code, some providers require a “my paysafe” account , which works in the same way as other cyberwallets. To register with “my paysafecard”, personal data must be provided. Nevertheless, the payment is processed anonymously even after registration. The advantage of the account is that customers collect loyalty points with every transaction. The loyalty points can then be exchanged in certain online shops. A limit of 2,500 euros applies to transactions and balances in the euro zone.
In addition to the paysafecard, which can be used with or without a registered account , there is also the paysafe Mastercard in the euro area. This is an officially certified credit card that does not require a bank account.
Pay securely and anonymously online
In today's world, electronic payment systems crucial. But what makes paysafecard different from other online payment services? Unlike the others, it allows anonymous use. Primarily, the card is used in the gambling sector as people do not prefer to share their address and personal information for digital products. In addition to gambling sites, many online shops also allow paysafecard as a payment method.
Online shops that support paysafecard
It is possible to pay with paysafecard in a large number of online stores, including Amazon, Spotify, Deezer, Steam and Yahoo. This payment method is particularly widespread gaming and social media industries Numerous streaming sites also offer payment with paysafecard.
paysafecard for trips abroad
Some even use the paysafecard to travel abroad. Because if this credit card is lost during the trip, the damage is not as great as if the debit or credit card is gone. After all, crooks cannot use the paysafecard to get the cardholder's bank details. And since paysafecard only small amounts , no large amounts of money are lost if the card is lost or stolen.
This is how you pay online with paysafecard
If you want to pay with paysafecard, you must select paysafecard as the payment option in the online shop. You will then be redirected to a page where you have to log in to your paysafecard account. After authentication, you must confirm the purchase and the total amount will be deducted from your paysafecard balance.
Paysafecard costs
Customers do not have to pay any fees for using paysafecard. However, paysafecard charges a fee of 7.50 euros to repay the credit. In addition, a fee of 2 euros is due if the paysafecard credit has not been used up within a certain period of time.
This makes the paysafecard secure
The paysafecard is a secure payment method because it is anonymous. There is no need to register for online payments or provide any personal or bank details. Even if you pay from a shared device, you don't have to worry about your private data being misused.
For anonymous payments over 100 euros, it is possible to combine the balance of the paysafecard account . This ensures that the remaining PIN credit can be used optimally and anonymously. When a card's balance is depleted, the PIN becomes invalid and is no longer of value even if someone finds the discarded card.
Better cost management
Although cash is still used in many transactions in Germany compared to other countries, digital payment services are becoming increasingly popular. Additionally, these online services help with cost management.
With a paysafecard, for example, users cannot exceed their spending limit because the card can only be topped up with prepaid credit. To access funds, users must choose another option as the paysafecard can only be used to purchase goods or collect winnings.
Advantages and disadvantages of the paysafecard
As with everything, there are advantages and disadvantages to paying with paysafecard. These are listed below.
The advantages of the paysafecard:
- Pay conveniently, securely and anonymously online
- Payment method on a prepaid basis
- Credit booked individually
- Processing is quick and easy by entering a 16-digit PIN
- The credit is also valid abroad and in many different currencies
- Providing bank or personal details is not required
- Several paysafecards can be combined for payment in order to purchase more expensive products or services
The disadvantages of the paysafecard:
- The credit cannot be paid out
- Credit is lost if the paysafecard is lost
- When entering your PIN you have to be careful so that the number is entered correctly
- In a few countries, the paysafecard is only available at a limited number of sales outlets
Conclusion
The paysafecard offers a variety of advantages. It is a prepaid payment method that can be used either with a PIN code or in combination with a paysafe account. With both options, paysafecard ensures that transactions remain anonymous. This makes the paysafecard a secure payment method whose costs are manageable and fraudsters have no chance of gaining access to users' private data.
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