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paysafecard continues expansion in South America with launch in Paraguay

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Apr 27, 2020

Asunción, Paraguay: paysafecard, a market leader in online prepaid payment solutions and part of specialized payments platform, Paysafe, continues to strengthen its presence in South America by launching in Paraguay.

paysafecard enables consumers to shop for goods and services online, simply and securely, using a 16-digit PIN to complete the payment transaction. It opens up significant possibilities for online shopping for millions of consumers who were previously excluded – either because they don't have a bank account or credit card, or because they don't want to share their bank account details on the internet, often for security reasons.

Out of Paraguay’s seven million inhabitants1, about 65% have internet access2 while mobile phone penetration is relatively high at 96.6%.3 As of 2017, only 31% of the population had bank accounts and just 6.5% of the adult population had credit cards.4 As such, paysafecard provides an ideal solution for Paraguayans to use prepaid vouchers to make online purchases conveniently and without the need for bank accounts or credit card information.

Thanks to a partnership with Practipago, a popular payment and collection network, paysafecard can be bought at over 1,800 retail outlets in Paraguay, including grocery stores, convenience stores, petrol stations and kiosks and is offered in four denominations (50,000, 100,000, 250,000 and 500,000 Paraguayan Guaraní, 1 euro equates to around 7042 Guaraní).

Udo Müller, CEO of paysafecard, comments on the launch: "South America provides an ideal environment for prepaid solutions and we are happy to be expanding into Paraguay. A considerable part of the population is clearly underserved in terms of bank accounts and credit cards, so paysafecard will enable Paraguayans to participate in the online marketplace and digital entertainment, easily and securely.”

About paysafecard

paysafecard, a market leader in online prepaid payment solutions, was founded in 2000 and is headquartered in Vienna, Austria. paysafecard is part of the international Paysafe Group, which provides a broad portfolio of innovative payment solutions and services. paysafecard offers prepaid and online cash solutions under the brands paysafecard, my paysafecard, paysafecard Mastercard® and Paysafecash. Available in over 650,000 sales outlets in 50 countries, paysafecard enables simple and secure online transactions prepaid vouchers. By using a 16-digit paysafecard PIN, customers do not need an account or credit card to pay on the Internet, protecting their confidential financial information. In 2018, paysafecard developed Paysafecash, with which customers can shop online first and then pay for their purchases securely with cash offline at the next payment point. Paysafecash is already available in almost 30 countries. In 2018, paysafecard reached a transaction volume of more than 3 billion euros. www.paysafecard.com  

 
   

1 Source: CIA World Factbook

2 Source: Statista

3 Source: Statista

4 Source: Statista

About Paysafe

Paysafe Group (Paysafe) is a leading specialised payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, card issuing and online cash solutions.

With over 20 years of online payment experience, an annualized transactional volume of over U.S. $85 billion, and approximately 3,000 employees located in 12+ global locations, Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world.

Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments.

Visit us at www.paysafe.com.

Medienkontakt:

Sanna Raza, Corporate Communications Manager, DACH, Paysafe Group, sanna.raza@paysafe.com

+43 676 765 7202

Robert Bauer, accelent communications gmbH | presse@paysafecard.com
+43 1 227 60 40-60