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paysafecard launches in Brazil, providing a free online prepaid payment method to the region’s largest market
Aug 30, 2017
The free, safe and convenient payment option is now available to 122 million Brazilian internet users in the highly dynamic eGaming Community
VIENNA, 30 August 2017 – paysafecard, a global market leader in the online pre-paid industry and part of Paysafe Group plc, enters Brazil, offering a free of charge online prepaid payment solution for over 122 million internet users in a very enthusiastic eGaming community. paysafecard already operates in Argentina, Peru, Uruguay and Mexico, and will now provide the continent’s largest local market with a free, secure digital payment method 24/7.
The move into the Brazilian market is another milestone on the path of growth for paysafecard.
Brazil has the fifth-largest population in the world with an internet usage rate of around 60 per cent. It is ranked seventh in the world for gross national product, and is by far the largest eGames market in Latin America. More than 60 per cent of all eGaming payments are made using cash-based alternative payment systems which come with serious disadvantages when compared to paysafecard.
Udo Müller, CEO paysafecard, provides insights to the strategic considerations behind this move: "Brazil is an enormous market which has not yet seen a digital payment method comparable to paysafecard. The current options on offer are as expensive, inconvenient or problematic for the merchants as they are for the users, and they can also come with delayed processing times. paysafecard offers an ideal alternative: free, immediately available, safe and convenient."
paysafecard’s presence in Latin America will now extend to five countries: Brazil, Argentina, Peru, Uruguay, and Mexico. The pre-paid specialist will begin its move into Brazil alongside sales partner RV Tecnologia, which will offer paysafecard at 40,000 sales outlets. Given the enormous geographical dimensions of the country, such a strong distribution network is absolutely crucial. Payment processing will occur via local partner PrimeiroPay, which offers an extensive understanding of the Brazilian market.
paysafecard will first be accepted mainly by well-known partners in the eGaming sector, and will then be gradually introduced on websites specialising in entertainment, e-learning, travel.
Osama Deeb, Global Payments & Partnerships Lead, Smilegate West, a leading eGaming provider in Brazil comments, “We welcome paysafecard's entry into the Brazilian market and rely on internationally proven partners, to maintain our position as a strong player in this market. paysafecard will allow us to offer an extremely successful payment option with enormous potential to Brazilian customers, and we expect that the introduction of paysafecard into Brazil will have a very positive impact on our business. This expansion is a true win-win scenario for the entire gaming business here."
Paysafe Group offers prepaid solutions with the brands paysafecard and my paysafecard. Growth was 14% in the 2016 financial year, and 11% the year previous. paysafecard achieved a 2.8 billion prepaid transaction volume in 2016 across all merchant transactions.paysafecard is a prepaid online payment method available in 44 countries and at over 500,000 sales outlets. paysafecard is available to everyone – customers need neither a bank account nor a credit card. Paying requires simply entering the 16-digit paysafecard PIN. paysafecard, from its headquarters in Vienna, has become one of the market leaders in prepaid payment solutions with the brands paysafecard, my paysafecard and paysafecard Mastercard®. The company was founded in Austria in 2000, and belongs to Paysafe Group PLC. Paysafe shares are traded on the London Stock Exchange under the ticker symbol (PAYS.L).
Paysafe is a leading global provider of end-to-end payment solutions. Our core purpose is to enable businesses and consumers to connect and transact seamlessly through our industry-leading capabilities in payment processing, digital wallets and online cash solutions. Delivered through an integrated platform, our solutions are geared towards mobile-initiated transactions, real-time analytics and the convergence between bricks-and-mortar and online payments. With over 20 years of online payment experience, a combined transactional volume of US$48 billion in 2016 and over 2,300 staff located in 12 global locations, Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world. Paysafe Group plc shares trade on the London Stock Exchange under the symbol (PAYS.L). For more information, visit: www.paysafe.com.
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Paysafe Group plc
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