Prepaid pioneer paysafecard, part of Paysafe Group plc, announced its entrance into the United Arab Emirates, with its flagship prepaid payment solution, which enables consumers to pay cash in retail stores for a prepaid PIN they can use to shop online.
The UAE continues to embrace technology innovation in line with its government’s Smart Dubai initiative to transform Dubai into the world’s smartest city. With Samsung, Apple and many other international technology companies taking advantage of the governments initiative and support, digital payment systems have become a key area of focus, which made moving into the UAE a logical step for paysafecard, according to the Austria-based company.
High Internet usage (more than 93 percent) and low credit card penetration also make the UAE an attractive market for paysafecard.
“By offering an established prepaid payment method, such as Paysafe’s paysafecard, a bridge is created between e-commerce and the brick-and-mortar shops,” said Udo Müller, CEO, paysafecard. “By selling paysafecard, shops can not only generate new customers, increase customer satisfaction and customer loyalty, but they can also earn money in what is a classic e-commerce process. In addition, customer traffic increases because paysafecard users are regular customers for the most part.”
paysafecard, which already is available in Saudi Arabia and Kuwait, is working with sales partner uPay to offer the payment method at 300 vending machines in the UAE.
paysafecard is a prepaid online payment method available in 44 countries and at more than 500,000 sales outlets. In 2016, paysafecard reached 2.8 billion in prepaid transaction volume.