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Paysafecard is an electronic payment method for predominantly online shopping and is based on a pre-pay system. Paysafecard is based in Vienna, Austria and has been in existence since 2000. Exchanging cash for Electronic Money (for use online) is facilitated through paysafecard in many countries worldwide.
Since 2006 paysafecard has been involved with the eTEN programme (Project description) promoted by the European Union.
In order to purchase a Paysafecard in the UK, customers pay cash (L10, L25, L50 or L75) at any retailers linked to PayPoint and thus receive a secure 16 digit PIN printed on a card. In other countries paysafecards are mostly available at newsagents, petrol stations, chemists or kiosks. When paying in an online shop, the user enters the 16 digit number and the amount tendered is deducted from the paysafecard balance.