paysafecard (psc)

Published on: 11/12/2007
Document
Paysafecard, a highly successful online payment system in Austria and Germany, stands out for its ease of use and fraud-free security features. Paysafecard enables online purchasing without need to divulge any personal data, whilst using a prepaid PIN code to validate transactions. This payment service shall be implemented soon throughout Europe. Paysafecard is a very flexible solution. It can be offered by any type of web merchant on their website regardless of the goods or services that merchant is selling. It provides a reliable online payment method that reaches every Internet user, regardless of age, education, income status and Internet literacy.

Policy Context

eTEN is a European Community programme providing funds to help make e-services available throughout the European Union. Paysafecard is funded by this programme for the internationalization of the prepaid card. The volume of the grant amounts to 730.000 EUR. Objective of the project is to expand to 12 countries throughout Europe. The project duration is Jan 2006 to December 2008.

Description of target users and groups

Paysafecard enables web shoppers to pay electronically without disclosing any personal data such as bank aacount or credit card number. It targets to webshoppers who don't have a credit card or who don't want to disclose their personal data.

Description of the way to implement the initiative

The project leader is the holding company Paysafecard.com Wertkarten AG (Austria). The implementing organisations are M&M Werbeagentur GmbH (Germany) and MC2 Kreativne Rešitve, D.O.O. (Slovenia).

Return on investment

Return on investment: Not applicable / Not available

Lessons learnt

Lesson 1 - Every country is different and needs a careful market and legal analysis. This can only be done by local employees and local tax and law specialists. Lesson 2 - There is a long period of time between the first contact in the country and the final product launch. Lesson 3 - Although the cultures differ from country to country, Paysafecard is well accepted from the beginning and the consumer behaviour regarding the method is the same everywhere. Scope: International