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Paysafe is best known for the Paysafecard, but the company offers more than 100 different payment methods, including credit and debit cards, direct debit and numerous local payment methods. Retailers use Paysafe’s services for their payment processes in e-commerce, m-commerce, MOTO, and mPOS. The company can process payments in over 200 countries and more than 40 currencies.
A Paysafecard is purchased with a certain credit, e.g. €10, €50, or €100. With the purchase, the customer receives the Paysafecard with a printed 16-digit PIN. The card can be purchased online or at one of more than 45,000 POS, including service stations and supermarkets.
When the customer pays with the Paysafecard, he enters the 16-digit PIN in a form and after verification of the entered data, the amount of the purchase is subtracted from the credit on the card, until the credit is exhausted. A password in addition to the PIN offers further protection. There is a special Paysafecard for minors under the age of 18. The advantage of this card is that it cannot be used for adult pages. With this card, you can buy a product with a maximum value of €1,000.
The company offers many options for fraud prevention, including Address Verification System (AVS), the verification of CVV and CVV2, blacklisting, IP geolocation and individually adaptable risk assessment.
Paysafe’s Risk Solutions program supports retailers with chargeback management. Via the System Smart Dispute, the process of chargebacks can be handled automatically and it ensures, that all transactions are taken into account.
Paysafe’s new mPOS app for iOS and Android is an easy way for retailers to easily and safely process payments even in POS businesses. The amount is entered in the app, the card reader processes the card payment and the customer receives the bill via e-mail or text message.