Paysafecard - Best Payment Method
Paysafecard is an online prepaid payment solution that allows users to transfer and withdraw funds fast and safely. As of 2017, Paysafecard had expanded its services to 47 countries, with 27 currencies being used on their platform. Over 120 million transactions had been made in the same year with over 600,000 sales outlets selling Paysafecard vouchers online. It is estimated that 35 percent of citizens is EU don’t possess a credit card, and most of those who have a card, they fear using it online.
Paysafecard works to remove obstacles like these by ensuring that people don’t lose their sensitive information online or it’s not abused. They also provide a prepaid payment method that caters to the needs of individuals and merchants. Since it’s anonymous, it allows users to make payments online without needing to give their personal or financial details. When you buy a Paysafecard, it is delivered in the form of a digital voucher with a ready-to-use PIN that you use to make payments directly and instantly. Spending using the voucher is like spending cash.
How it Works?
When you want to use Paysafecard to make deposits or deposit funds, you will need to search for the sales outlet that is nearest, using the store locator online. Once you have identified the sales outlet, you move ahead to purchase a Paysafecard voucher online that has your preferred face value. The card is a virtual card that integrates easily with Paysafecard MasterCard. After entering the PIN that comprises 16 digits, you can now make payments to thousands of shops online safely and simply.
If you want to withdraw fund, you should first make a deposit using Paysafecard. You also need to create an e-wallet account online on MyPaysafecard. When withdrawing, choose the option of withdrawing back to “MyPaysafecard” account. You will be prompted to enter you MyPaysafecard email and the amount you are withdrawing to that e-wallet. Remember that in order for your withdrawal to succeed, your first name, the last name, your date of birth, as well as email should match those that you used in your MyPaysafecard account.
Benefits with this Method
- Offers easy, safe, and private payments online for everyone
- It’s anonymous, so you don’t share your private information or financial details online
- There are over +600,000 outlets where you can purchase your Paysafecard voucher
Disadvantages with this Method
- It’s only available in 47 countries
- The customer support is not up to par
- You can only withdraw through Paysafecard if you have done a deposit using your MyPaysafecard account v
Review and Summary
Paysafecard is available in different denominations, depending on where a user is located. In Euros, a Paysafecard voucher comes in denominations ranging from €10 to €75. This online prepaid payment solution uses a combination of security features to monitor transactions. It also utilises SMS authentication for the cardholders. Paysafecard attracts charges; there are no fees with use of the vouchers within the initial 12 months, however, if there is inactivity of your Paysafecard account, $2 is credited from your balance every month from the 13th month.
A $7.50 refund fee is applicable if you decide to have refunds for deposits or payments you have done. TrustPilot gives Paysafecard a one star out of five stars from 230 reviews. Users have complained that their funds have been locked or the Paysafecard account suspended unexpectedly, causing them many inconveniences. Reaching the support team is also difficult. Paysafecard may be an option for those who want to make online payments without sharing their sensitive information; however, users should be wary of their terms and conditions before they use the services.