While there are many payment methods available for players at online casinos at this point, one that has maintained a position for many years is Paysafecard.
Coming from the conglomerate that has cornered a large amount of the iGaming payment method market, Paysafegroup, which also owns Neteller and Skrill, Paysafecard has been a mainstay of the iGaming world for some time now, and that popularity doesn’t look likely to be letting up any time soon.
Paysafecard enjoys popularity for a variety of reasons, it is a safe and secure method that means players do not have to share too much personal information with a casino, and as a pre-paid payment method, also takes away any concerns about unexpected overspending.
However, technological evolution has been flying over recent years, and it’s possible that Paysafecard may get left behind by the advances in the industry.
That hasn’t happened yet though, despite some arguably expecting it to, so what is it about Paysafecard that has ensured it can maintain its position as a popular payment method even while the iGaming world changes around it?Read More
Paysafecard has been offering online casino players an easy option for making deposits for the better part of two decades at this point, and it is the simplicity offered by this payment method that has ensured this popularity has been sustained.
While many payment methods involve players giving personal information to an online casino, Paysafecard takes away that issue, because you buy the card, with the money on it, and then you can use that money to make your deposit, ensuring absolute anonymity for users.
It couldn’t be much easier to get a Paysafecard either, with well over 600,000 outlets worldwide offering the chance to purchase Paysafecard.
When you purchase a card, which can come with £10, £25, £50, £75, or £100 on it (with £125, £150, and £175 also available at certain outlets) you will be given a 16 digit unique PIN number, you then enter this PIN at your favourite online casinos, as well as multiple other online shops, and your money is immediately deposited to the site.
Essentially, a Paysafecard gives you about as close as it’s possible to get to paying at an online casino using cash.
Is it Safe?
This is a question with a slightly more complex answer than the name of the card may suggest. While Paysafecard is known as a safe and secure payment option, there have been moments in the past which suggest that maybe this is not always the case.
One of the highest profile stories of this nature came out of Cyprus in late 2016, when police warned that Paysafecards were being used to defraud victims in the country.
The reports from Cyprus police suggested that people were using pre-paid SIM cards that were registered overseas to contact outlets that sold Paysafecards claiming, falsely, to work for one of Paysafecard’s Cyprus based distributors.
These callers would then report a software issue with the cards, and asking them to issue new cards from the system and give them the PINs to check whether the issue had been resolved.
These victims were then told that when the problem had been rectified codes would be given reverse the transactions, however, as soon as the victim gave the activation codes for the cards, the caller hung up and would not contact the merchant again, nor would they respond to any contact efforts.
While this did not cause an issue for those who bought Paysafecards, as the victims were shop owners and, more regularly, shop employees, it added a sense of concern to the safety of Paysafecards.
This issue was widely reported, and there has been no suggestion that the issue has resurfaced since, with Paysafecard again being seen as one of the best options for players, and merchants being able to sell cards without issue.
Fees and Limitations
While Paysafecard is free for the most part, there are some exceptions to that rule that users should be aware of.
From the 13thmonth of service, a monthly fee of £3 is deducted from any remaining balance on a card, this fee rises to £6 if there have been no transactions made on the card in the prior 12 months.
Any refunds claimed on cards are subject to a £6 fee, which will be deducted from the refund, this happens on every individual refund taken on a Paysafecard.
The other piece of small print worth being aware of is that the maximum payment that can be made on a Paysafecard, no matter how much it has been topped up with, is £200. The most that can be held on a card is £4,000, with daily top-ups limited to £1,500, as are daily transactions, while the maximum monthly top-up amount is £4,000.
While this isn’t necessarily an issue for the majority of players, these terms and conditions do take the shine off Paysafecard as an option for some, as there are modern alternatives that, while not having the tenure of Paysafecard, and therefore lacking in reputation in comparison, have less (if any) fees and limitations attached, allowing more of a sense of freedom for players.
Is Paysafecard a Good Option?
In conclusion, Paysafecard is, despite the problems in Cyprus and beyond a few years back, a very safe options for users, and is simple to use.
While the existence of some terms and conditions may make this payment method seem less tempting that others, the truth is that these limits will rarely affect players, and as long as you don’t find your way to month 13 with a Paysafecard, and have no need for a refund, the fees won’t hit you either.
Paysafecard may, in time, be overtaken by its competitors, but being that it is owned by the same company that own Neteller and Skrill, two of the most popular payment methods in the modern market, that’s probably not going to break the hearts of too many executives!