Paysafecard is one of the world’s most popular prepaid services, available in over 40 different countries worldwide. The Paysafecard service is owned and managed by Paysafe Group PLC, a public company that also owns two of the most used eWallets in the world – Skrill and Neteller. Paysafe Group is headquartered in Douglas, on the Isle of Man and has been operating since 1996. The company is registered with the Financial Conduct Authority of the United Kingdom as proof of its legitimacy and competency. Any company that has passed the test of this government institution is worth using. It means that it provides fair and timely service and that it can be trusted with your money.
Today Paysafe Group’s services have a major presence in the online gambling industry, being some of the most preferred methods for transacting money. Such is the case with Paysafecard, which is a prepaid service available at most online casinos. This service has become popular with people looking for an easily accessible way of depositing funds to their online casino balance, that also provides users with security and anonymity. It is available for purchase at over 600,000 retail locations across the world and the company is always looking to expand its reach.
Advantages and Disadvantages
The use of a prepaid method such as Paysafecard comes with own set of advantages and disadvantages. Below you will find arguments detailing both the good and the bad side of Paysafecard.
To understand how Paysafecard works we have to go through the process of how it is acquired. For starters, Paysafecard is available in a variety of places, such as gas stations, supermarkets, newspaper stands, etc. This allows it to be accessible to a large user base, making it convenient for them to receive a prepaid voucher. The voucher is bought with cash money and is issued to the buyer immediately. It resembles a receipt and it has a 16-digit PIN code that can be entered at any website that supports payments through Paysafecard. The prepaid vouchers are usually sold in increments of $5, $10, $25, $50, and $100. There is no commission for buying a voucher and each one has the exact value to the amount of money you used to buy it. This means that if you spent $50 on a voucher, you will have $50 to spend online.
Paysafecard is available in a number of countries including Austria, Belgium, the Netherlands, Bulgaria, the Czech Republic, Denmark, Germany, Greece, Spain, France, Georgia, Croatia, Cyprus, Latvia, Lithuania, Luxemburg, Italy, Hungary, Malta, the Republic of Ireland, Norway, Poland, Romania, Switzerland, Slovenia, Slovakia, Sweden, Finland, Portugal, Turkey, the United Kingdom, Argentina, Brazil, Canada, Mexico, Peru, Uruguay, Kuwait, Saudi Arabia, United Arab Emirates, the United States of America, Australia, New Zealand, and Egypt. The wide availability of the service makes it possible for millions of users to utilize Paysafecard to its full advantages.
More Advantages & DisadvantagesAnonymity plays a major role when making transactions via Paysafecard. Since you receive a prepaid voucher, all you have to do to is enter the code on the receipt. You will not be required to enter any sensitive information and your private data will remain private. With Paysafecard you do not have to reveal any of your banking or credit card information, making this service an excellent choice for users who value their privacy.
Paysafecard is an excellent option for budget-oriented players or problem gamblers, in the sense that your transactions are limited to $100, or the region’s equivalent, per one PIN. This way those who cannot afford to spend too much money can rely on the relatively low transaction limits. Furthermore, since each PIN has to be bought at a physical location it disincentivizes players from reckless spending. The fact that you would have to walk or drive to the nearest retail location that offers Paysafecard gets in the way of binge spending as one would reasonably lose the interest by the time they get to the outlet. This, however, might be seen as an inconvenience by regular players, which it honestly is.
A major disadvantage of the Paysafecard service is the inability to withdraw any winnings. Paysafecard is designed with making outgoing payments in mind. It is not an eWallet and does not act as one. This means that it is not possible to receive any money with Paysafecard and users seeking to cash in their the winnings will have to look for an alternative payment solution. This is the main drawback of using this service, as it can only fully satisfy players who either do not care about winnings or are looking to play until they lose all of their money, which realistically there are not many of.
Paysafecard is a prepaid payment solution and it suffers from the same disadvantages like other similar ones. The maximum amount of money that you can load on a single PIN is $100, or the region’s equivalent, which is by no means a large amount of money. Players wishing to make a larger deposit can work around this limitation by buying several PINs at once. When making a deposit you can combine up to 10 PINs in a single payment. This will allow you to deposit up to $1,000 at once, but however you look at it, it is not an elegant solution. High rollers would not be satisfied with this method of payment and would fare much better using a different service.
Furthermore, the fact that you have to physically buy a voucher can work against you. Especially so when you want to make a deposit right now, but you either do not have a PIN or the already existing PIN does not hold enough money. Such an event would require a trip to the nearest licensed outlet. This could be a minor inconvenience or a real detriment if the merchant is located too far away.
Overall, Paysafecard is an excellent service for a particular type of player. It allows for quick and very secure transactions, but those only go one way. The inability to cash in using this method will is a detriment to the majority of players. Additionally, high rollers will not be pleased with the low maximum limits. You can only deposit up to $1,000 per transaction, and even that amount would require 10 separate prepaid PINs.
This method was not created with online casinos in mind, however, it might still be useful to certain players. Budget-oriented players will certainly see the benefit of it, as will the users not willing to expose their credit card and banking information to third parties. There are distinct positives and negatives to using Paysafecard and you must weigh them yourself and decide whether this payment solution is suited to your needs or not.
Using Paysafecard for Gambling Transactions
Paysafecard is one of the most used methods to deposit money into online casinos. It is entirely easy to use and requires no significant preparation. Purchasing a prepaid PIN can be done at locations that you regularly visit, e.g. the supermarket, the gas station, etc., which means that you do not have to go out of your way to acquire one. At the online casino’s cashier page you will have to select the prepaid voucher category and then the Paysafecard option. You will be asked to enter the amount of money that you wish to deposit, as well as the 16-digit PIN that is on the voucher. As soon as you have done that your money will be instantly available and you can start playing all of your favorite games.
Fees for Gambling Transactions
One of the best things about Paysafecard is that it is mostly free on the user’s end. Paysafecard is one of the most consumer-friendly payment services available to you. It is completely free to create a PIN and you will have access to just as much money as you gave to the seller. Some casinos, however, may impose a commission or a service charge for using Paysafecard. This is not usually the case and it happens rarely. The charge would often be no more than several dollars or the region’s equivalent.
While there are rarely fees for using Paysafecard to deposit at an online casino, there are fees related to the Paysafecard service that you should be aware of. The transaction themselves are free, but maintaining a Paysafecard balance might end up costing you in the long run. The first twelve months of a PIN cost you nothing, but after that time has passed and the voucher has not been used, a service charge of $2.00 will be imposed on your PIN for every month that it is not used. Additionally, when making a purchase in a foreign currency, you will be charged an exchange fee depending on the currency in question.
One of the best aspects of Paysafecard are the quick transaction times. Any payment made via this service will be processed immediately. As soon as you enter the 16-digit PIN your money will be available to you. The instantaneous transactions of Paysafecard payments make this method one of the best out there.
Paysafecard can be used to make deposits on a desktop PC, as well as on a mobile device. The process is exactly the same, you will be required to enter the PIN code on the cashier page. Additionally, Paysafecard has provided a mobile application which can be downloaded on any Android and iOS device. The app allows the user to check their available balance on any given voucher. Furthermore, using the app you can see all of your past transactions and change the PIN code on a voucher with a new one. Additionally, users can also use the app to locate the nearest retail store where they can purchase more vouchers.
Security at Online Casinos
Whenever making any kind of online payments security is always a primary concern. Personal information is of paramount importance and it should always be kept safe. Online casinos understand this and have implemented the best security and encryption systems on the market. Data leaks are not uncommon on the Internet.
Every now and then a clever hacker manages to gain access to a system. Such an occurrence would be devastating were it not for the SSL encryption that most online casinos use. SSL stands for Secure Socket Layer and it is an encryption protocol that makes it impossible for any third party to read the information.
Everything from passwords and email addresses to credit card data, names, birth dates, physical addresses, etc., is encoded using 128-bit and 265-bit encryption. The SSL protocol makes it safe for this kind of information to be stored online without fear of any potential wrongdoer benefiting from this. Only you and the casino in question can read it and even if someone else got a hold of anything, then that data will appear in a completely illegible form, a random sequence of numbers and letters.
Most encryptions are broken in two ways – by brute force or with a key. Naturally, no casino would willfully and knowingly let any third party have access to their customers’ data, so hackers are really left with one choice. However, to break a 128-bit or a 256-bit encryption with brute force is no simple task. Using modern-day technology, it would take centuries to decrypt something with this method, making it completely impractical and pointless to even attempt it.
Security Additional TipsWhile the online casinos provide you with a good deal of protection online, you should never rely entirely on that. You can take several steps which can greatly reduce the chance of identity theft and fraud. Luckily, Paysafecard is one of the most secure online payment services that you can ever use since it does require you to enter any sensitive information. In order to keep your money with Paysafecard safe there are some actions that you could take. For instance, never put down your Paysafecard PIN in an email or phone message.
This leaves rooms for other people to use your funds to their own ends without the need of consulting you or asking for your permission. Additionally, you should always buy the prepaid vouchers at officially licensed outlets. At the Paysafecard website you can see the licensed locations that are in your area and if you are not sure about a certain merchant you can always check his status. Moreover, you should only use your Paysafecard PIN with stores and casinos that are licensed to accept Paysafecard as a payment option.
Governments, institutions, law firms and courts are not licensed to accept Paysafecard payments, so never comply to make payments to any of these using Paysafecard. If you suspect fraud or misuse of your funds you can always freeze your Paysafecard PIN either on the website or using the mobile application. Protecting your money should be of the highest importance to you.
Paysafecard Casino FAQ
In order to purchase a prepaid voucher, the buyer needs to be 18 years of age or older. Users under the age of eighteen can purchase the so-called junior version.
There is the option to reclaim all of the money still available on an already paid for PIN. You will be required to submit an online refund request at the Paysafecard website. In order for the company to process the refund, you will have to submit the following – bank details (the bank’s name and your IBAN) and a copy of the Paysafecard PIN. You may also be asked for proof of your identity in the form of a state-issued identification card (ID, driver’s license, passport, etc.) and proof of address. There will be a fee for processing the refund, the value of which depends on your country.
Can someone use my Paysafecard PIN without my permission and what am I supposed to do when that happens?
While the probability of this happening is quite low, there is always the chance that it may occur. If a person, other than yourself, has made payments using a Paysafecard PIN belonging to you, you can contact Paysafecard’s customer service team who will resolve the issue for you.
If someone has got hold of your Paysafecard information you have the option of freezing your PIN balance so that no money can be spent. You can do this from the Paysafecard mobile application or online at paysafecard.com.
A completed payment cannot be reversed and the company cannot issue you your money back. If you require a refund you will have to settle the matter with the online casino or whatever entity received the money.
If you are looking for a Paysafecard retailer there are several ways that you can find one. On the Paysafecard website, there is a map where all of the licensed retailers that offer Paysafecard PINs are listed with their exact location. A similar map can also be found on the mobile application for iOS and Android. This way you can see just how far away the location is and even get directions on how to get there.
Paysafecard is available in over 40 different countries across Europe, North America, South America, Africa and Australia. Due to its wide availability it supports all of the most used currencies, as well as some smaller ones. Euros, US dollars, Australian dollars, Canadian dollars, Swiss francs, Great Britain pounds and many more are supported by Paysafecard. On the service’s website, you will have access to a currency calculator which will allow you to see all of the available currencies, as well as, the ability to calculate the exchange rate.
Paysafecard is a major operation and it most certainly offers customer service to all of its users. On the website, you can contact the support team by email. Additionally, there is an extensive Frequently Asked Questions section where you can find the answers to some of the most asked questions by users.
Paysafecard explicitly state on their website that the user is solely responsible for their PINs and that under no circumstances will a new one be issued. You have to be very careful about handling your Paysafecard PINs since just like cash money, they cannot be returned to you.