The history of the paysafecard group begins in 2000: Four Austrians develop the idea of bringing "cash for the Internet" – known as the paysafecard – onto the market. The mode of operation is similar to that of a calling card: The customer purchases a paysafecard at a sales outlet and pays using the printed 16-digit PIN.
The company carries out pioneering work with the development of paysafecard and are able to launch in Germany just one year after its founding.
The product is further developed and, in 2002, is available for the first time not just as a physical card, but also as a printout (e-voucher). In 2004, the payment solution can be purchased online.
2006 heralds the expansion of the paysafecard group and sees the launch of the operational business in Greece, Slovenia, Spain, Great Britain and Slovakia. For its further internationalisation, the company is granted EU funding (eTEN) the following year in order to spread the possibility of paying in the Internet without a credit card as far as possible.
2008 also brings further successes: More than 15 million transactions are carried out using the paysafecard. Furthermore, a subsidiary of the paysafecard group, the Prepaid Services Company Ltd., receives an e-money licence from the Financial Conduct Authority (FCA). This licence enables electronic money to be issued throughout Europe.
The company's successful expansion continues to advance. 2009 sees the launch of the paysafecard in a further ten European countries and, with Argentina, signals the start for expansion outside Europe. A MasterCard licence, which is granted to the Prepaid Services Company Ltd., authorises the paysafecard group to begin issuing MasterCard.
In addition, the product portfolio expands by a further product: The addition to the product palette is the YUNA Prepaid MasterCard®. This enables the user to pay everywhere where MasterCard is accepted. However, contrary to a classic credit card, no bank account is necessary for YUNA Card.
The work of the paysafecard group also receives international recognition: Both the "Paybefore Award" as "Best Prepaid Company Outside the USA" and the "Prepaid Award" as "Leading Prepaid Organisation 2009" go to the paysafecard group.
2010 sees the company sending a further strong signal: To coincide with its tenth anniversary, the paysafecard product launches in the USA and in Mexico and is therewith available in 27 countries worldwide. The product range is expanded with the Happy Schenkcard: The prepaid gift card is as flexible and diversely applicable as a regular MasterCard.
my paysafecard is being introduced in Germany in January 2012. Users wishing to have a greater overview of their PINs can add them to the my paysafecard area after registration, where they can manage them. Payments are made by entering a user name and password.
The work of the paysafecard group also receives international recognition: Both the Paybefore Award for being the ‘Best Digital Currency’ and the Paybefore Award Europe for being the ‘Most Innovative Prepaid Solution’ go to the paysafecard group.
paysafecard is currently available from a total of 450,000 sales outlets in 35 countries worldwide.