LONDON | paysafecard continues its expansion into new markets by moving into Peru and Uruguay. paysafecard has been available in the Latin American countries of Mexico since 2010 and Argentina since 2009 and is now present in 39 countries.
Majority of Peruvians does not have a bank account
Peru has a population of around 30 million and an internet penetration rate of 40% - which is markedly above average for Latin America. Around 70% of Peruvians do not possess a bank account and are therefore reliant on alternative payment methods like prepaid for paying online. At launch, more than 3,500 sales outlets are already secured - a figure which will grow to 10,000 over the coming months.
Uruguay has highest penetration rate in Latin America
Uruguay may be significantly smaller than Peru, but it is a booming and forward-looking society. With an internet penetration rate of 71%, it has the highest in the whole of Latin America. Studies have found that Uruguay enjoys the fastest internet connection speeds of the entire continent of America, even exceeding those of the USA. At the same time, 76% of the adult population does not have a bank account. paysafecard will be available as a generally accessible prepaid payment method. Distribution is handled by an exclusive partner, who operates around 5000 sales outlets.
'Present across the breadth of Latin America'
Udo Müller, CEO of paysafecard.com Wertkarten AG, on the opening up of these new markets: "As Latin American countries, Peru and Uruguay offer both optimal conditions and enormous potential for our product. It is for these reasons that we are hugely excited about taking this step. It is against this backdrop and with strong local partners that we continue to grow as world market leader in a deliberate fashion. Our ambitious expansion plans will follow the opening up of these two countries with further new markets, and will soon see us present across the breadth of Latin America."
paysafecard was founded in Austria and Germany in 2000 and is owned by the Skrill Group. The company is now present in 39 countries at over 450,000 sales outlets worldwide. paysafecard is a prepaid online payment solution which anyone can use. No bank account or credit card is necessary. The paysafecard 16-digit PIN is all that’s needed to complete a payment transaction. paysafecard transactions are not applicable to chargebacks and therefore a guaranteed online payment method for merchants. paysafecard allows merchants to tap into markets where consumers are unbanked or do not have access to credit cards. Check here which Payment Service Providers support paysafecard as a payment method.