What is Paysafecard?
Paysafecard is a prepaid card service and a popular payment method at online casinos. Headquartered in Vienna, Paysafecard was founded in 2000 by four friends: Michael Müller, Reinhard Eilmsteiner, Michael Altrichter, and Armin Sageder. In 2014, Udo Muller took over from Sageder as the company’s CEO.
At the time of writing, Paysafecard employs over 3,400 people across more than ten global offices. Originally only available in Austria and Germany, Paysafecard is now one of the most popular online payment methods worldwide. It is owned and operated by the multinational financial services company, Paysafe Group.
2000 – Paysafecard is founded by four friends in Vienna.
2001 – Paysafecard launches in Austria and Germany.
2002 – Paysafecard transforms from a card into an over-the-counter voucher.
2005 – Paysafecard receives EU funding to support international expansion.
2006 – European expansion starts, which launches in Greece, Spain, the UK, and other countries.
2007 – Paysafecard reaches ten million transactions in a single year.
2008 – Paysafecard receives an e-money licence from the UK’s Financial Conduct Authority. The payment method launches in more EU countries including France, the Netherlands, and Portugal.
2009 – Paysafecard receives a licence to issue Mastercard products.
2010 – Paysafecard launches in the USA and Mexico.
2011 – Paysafecard launches a mobile app.
2013 – My Paysafecard launched, offering users a personal account. The company is acquired by the e-wallet service, Skrill.
2014 – Paysafecard launches a prepaid Mastercard. My Plus service is rolled out, offering customers a loyalty program. Udo Muller becomes CEO.
2016 – Paysafecard Direct is launched, allowing any customer with a My Paysafecard account to top up at a sales outlet using their smartphone.
2018 – Paysafecard cements its strong relationship with the e-sports market by becoming a main sponsor of the Electronic Sports League (ESL). Paysafecard is included in both the Great Places to Work and Austrian Leading Companies lists. Paysafecash launches in several EU markets, allowing customers to pay any amount as opposed to predetermined values. Paysafecard becomes available in the Google Play Store.