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November 15, 2022

Paysafe expands alliance with Microsoft

Paysafe is offering its prepaid eCash tool paysafecard as a new alternative payment option on Microsoft.com and Xbox.com in the US and eight more European markets.

This will enable clients in the US and Europe to make cash-based purchases on Microsoft.com in addition to Xbox.com even if they lack access to traditional online payment tools or do not wish to share their credit card data online.

The service is available on the Xbox game console as well in 22 European nations.

This collaboration between Paysafe and IT giant Microsoft dates back to December 2020, when paysafecard was made available as a payment method on Microsoft.com and Xbox.com.

It also includes a multi-year, global pact to support cloud-based transaction services of Paysafe utilising Microsoft Azure.

The alliance between the pair now extends to 31 countries.

Paysafe president of Digital Wallets Division Chirag Patel said: “The ability to partner with Microsoft and offer paysafecard in an additional nine countries provides an important alternative payment method for millions of customers.

“It’s an inclusive payment solution for gamers, allowing them to easily access the digital world of entertainment while managing their budgets.”

Paysafe connects consumers as well as businesses across 100 payment types in more than 40 currencies.

Last year, the firm reported annualised transactional volume of over $120bn.

Earlier this year, Paysafe concluded the purchase of SafetyPay, which facilitates ecommerce transactions via open banking and eCash tools.

The paysafecard solution helps consumers utilise cash to make payments for online services.

In August this year, the solution was rolled out in Argentina.

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