Paysafecard group, a prepaid payment provider based in Vienna, has announced the extension of its services to Australia.
According to the company, the product will allow Australian businesses and consumers access to a secure internet-based prepaid payment system, without the need for a bank account or credit card.
Commenting on the development, Michael Mueller, chief executive officer of paysafecard group, said: "We enter the Australian market with high expectations as we see a great potential for our prepaid payment solution."
He revealed the company’s high hopes for the market are justified by Australian consumers’ reliance on cash, as well as ‘safety concerns when it comes to paying online’.
Mueller believes these factors capable of contributing to paysafecard’s success Down Under: "This makes our product particularly interesting for Australia as customers can use paysafecard as safely, easily and fast as cash," he said.
Having secured partnerships with epay, an online payment service, and payment technology company Touch Networks, paysafecard is setting out to compete in the country’s prepaid industry through its 12,000 outlets.
"Most companies that offer prepaid products in Australia charge high fees to the customers. Paysafecard is different as the customer doesn’t have to pay any fees at all," Mueller added.