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Paysafe Group: General Information & Features

Companies / Financial Education Oct 29, 2019 - 01:00 PM GMT

By: Submissions

Companies

The modern payment methods have gained immense popularity and today, international money transfer is not rocket science. One of the most reliable solutions is Paysafe that has invaded the global market and is used by more than 40 countries. The company was established in 1996 under the name of Optimal Payments PLC and has offered products like digital wallets and electronic money. 

This payment and credit card processor enables the users to transfer or cash-out money through the website or mobile apps. Good news! Paysafe delivers its services via many branches including Skrill, Neteller, and Netbanx.


Paysafe Company Features

One of the paramount features offered by the Paysafe group is the multiple currencies that it can support. The users are able to transfer and receive money with the most traded currencies in the world. Besides, this solution provides several additional services to facilitate customer’s money moving and one of them is currency conversion. 

To protect the buyers and sellers from fraud, Paysafe has implemented effective policies such as secure payments, fraud detection, and risk & fraud management. As stated above, the service is also available on mobile solutions allowing consumers to move funds at their convenience.

Paysafe Products

PaysafeCard

Paysafe offers a large service under the firm's brand and subsidiary brands. Paysafe cards are one of these payment options considered to be a confidential method. In New Zealand, many industries use this option including online gambling. With the remarkable growth of this latter on this island, Kiwi pokies sites and casinos that use Paysafe vouchers enable those who open an account and make a deposit on their favourite games. In fact, Paysafecard is different from other payment solutions because it has a similar procedure to the prepaid card. 

In this system, the players have to purchase a voucher at the retailers in their regions and use the scratched numbers to make a payment. Obviously, withdrawal with Paysafecard is impossible since it not a solution to move money directly. Nonetheless, it is undeniable that this service allows the customers to accomplish payment online without disclosing the bank account information.

Skrill

Skrill is the most well-known e-wallet that is chosen by millions of people around the world. This digital wallet was released in 2001 and known to be the first to receive an electronic money licence. One of the important reasons to make this method more attractive is the simplicity of the transaction procedure.

Depositing with Skrill is instantaneous and doesn’t require any banking information. Nonetheless, withdrawal takes between 2 and 5 business days depending on the country of residence but it is quicker compared to other options. What’s more, as Skrill is a convenient payment solution, many transactions are available with this famous e-wallet such as credit cards, email, and cash transactions.

Neteller

Neteller is the leading digital wallet industry that was launched in 1999. This solution has gained the heart of many people since it guarantees high-quality products and services. With simple and quick transactions, Neteller can be both a deposit and withdrawal solution. 

Another important feature that is bundled with this option is the ability to cashing-out through a cheque. Furthermore, with the Net+ prepaid Mastercard, the customers won’t meet any difficulties when they withdraw their money.

Paysafe Pay Later

Paysafe Pay Later is another advanced payment service offered by Paysafe. This solution can be used for both physical and online retailers. Choosing this solution is as beneficial as straightforward because the customers can delay the payment even the products have been sent. 

Since Paysafe Pay Later is very practical to the users, it offers services in-store and online. For those who want to seduce more and more customers with their attractive and lucrative products, Pay Later is important because it can be a white-labeling.

Partnerships & Future Plans

Like every growing business, Paysafe Company wants to enhance its potential for boom and development. Therefore, the group has continued to build a partnership with several companies. In July 2014, the firm signed the cooperation of two seasons with Crystal Palace Football Club of the English Premier League. In this two-season alliance, Neteller's logo appeared on the front of the team’s shirt. On September 26, 2019, Paysafe announced its collaboration with Samsung Galaxy. This sponsorship deal will enable the users in 21 European countries to move funds with this payment option within the Samsung Galaxy Store.

Conclusion

Paysafe is the top-notch multinational payment firm that has built a good reputation among the consumers. Based on the Isle of Man, this solution is regulated in the UK and has offered various products adapted to the customers’ requirements. With many online payment solutions accessible on the market, Paysafe fulfills the users’ requirements as it is simple, quick, and safe.

By Amy Wilson

© 2019 Copyright Amy Wilson - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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