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Sunday 05 July 2020

LATEST NEWS 

Paysafe partners with Google

Written by Peter Walker
07/06/18

Paysafe has announced a partnership with Google which means its prepaid business paysafecard is now accepted as a payment method in the Google Play app store.

The card enables consumers who prefer or need to use cash to pay online by using the 16-digit PIN to complete the transaction.

The international roll-out of the partnership started in Poland, where more than one million people a year use paysafecard. It is currently available in 46 countries and there are more than 600,000 sales outlets worldwide, around 40,000 of which are in Poland.

Udo Müller, chief executive of paysafecard said the risk of fraud and sharing personal data online still concern many consumers.

“Our proprietary research launched earlier this week, shows that half of respondents worry about fraudulent purchases and 48 per cent worry about the safety of their personal data,” he commented. “This is why offering paysafecard as a way to pay in the Google Play Store has come at the right time to enable consumers and both companies to benefit.”

The research he mentioned was conducted with more than 5,000 consumers in the UK, US, Canada, Germany and Austria in April, revealing that the shift towards ‘frictionless’ payments is being held back by consumer concerns over security and data privacy.

In fact, only 28 per cent of UK consumers have used frictionless payment in apps, despite widespread awareness of services. According to the data, two-thirds of British consumers think voice-activated systems are not secure, with 69 per cent worried about being overcharged if they used this type of service.

However, biometric payments are continuing to grow, with more than a fifth (22 per cent) having tested a voice-activated payments system and 49 per cent of British smartwatch owners having made a payment on their device.

While UK consumers resist the move to frictionless payments, other emerging payment methods are polarising consumer opinion – 39 per cent of Brits would let their fridges automatically re-order food, but 43 per cent do not expect to adopt the technology in the next two to three years.

Earlier this week, Paysafe Group completed the acquisition of iPayment Holdings, another payment solutions provider, with integration in North America now set to commence.

Todd Linden, chief executive of Paysafe in North America, will run the expanded organisation and O.B. Rawls IV, iPayment’s former chief executive, along with iPayment chief financial officer Robert Purcell, have both accepted new leadership roles within Paysafe.

The acquisition also allows Paysafe and iPayment to cross-sell more products such as point of sale solutions, digital wallets, pay later and prepaid solutions to a significantly expanded customer base



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