The Article Summarized
Paysafecard has announced the introduction of their prepaid payment solution in the United Arab Emirates.
Back in March, Paysafecard CEO Udo Müller had hinted to expanding their international market.
Two main factors converged into steering the company’s decision. First, UAE launched an initiative to transform Dubai into a smart city. International technology companies such as Samsung and Apple have already begun to benefit from the government’s support on digital payment. Second, the country boasts high Internet usage (more than 93%) and a notably low credit card penetration. The presence of Paysafecard in Saudi Arabia and Kuwait will also facilitate their entry in this market.
Prepaid Payment Solution
Considered a bridge between e-commerce and traditional shops, Paysafecard allows customers to pay cash in retail stores for a prepaid online shopping PIN. According to the company’s CEO, this benefit shop owners by generating new customers, increasing their satisfaction and assuring their loyalty, as well as through the classic e-commerce process.
In a partnership with uPay, the Austria-based company plans to offer the payment method at 300 vending machines in the UAE.