Paysafe and Microsoft Expand Collaboration

Rhea-AI Summary

Paysafe's prepaid eCash solution, paysafecard, has been launched as an alternative payment method on Microsoft.com and Xbox.com in the US and eight European countries, expanding their existing partnership that now spans 31 countries. This service allows millions who prefer cash transactions to make purchases online without needing credit card details. The collaboration originally began in December 2020 and includes a multi-year agreement for Microsoft to support Paysafe’s transaction services.

Positive

• Expanded partnership with Microsoft now covers 31 countries.
• New alternative payment option enables cash-based purchases online.
• Access for millions of customers without traditional payment methods.

Negative

• None.

Paysafe’s prepaid eCash solution paysafecard now accepted on Microsoft.com and Xbox.com in US and eight additional countries in Europe

LONDON--(BUSINESS WIRE)-- Leading specialised payments platform Paysafe (NYSE: PSFE) has further strengthened its relationship with Microsoft, launching paysafecard as a new alternative payment option on Microsoft.com and Xbox.com in the United States and eight additional European countries.

The ongoing collaboration between the two companies now spans 31 countries. This latest development means that millions of new customers in the US and Europe who don’t have access to traditional online payment solutions or who prefer not to share their credit card information online can now make cash-based purchases on Microsoft.com and Xbox.com. In 22 European countries, this service is also available on the Xbox game console.

The prepaid payment solution paysafecard, available in 50 countries through a distribution network of 700,000 retail stores, enables consumers to use cash to pay for services online. Using a 16-digit code, payment transactions are completed simply and reliably. Bank account or credit card details are not required.

The expanded cooperation between Paysafe and Microsoft is the newest extension of a collaboration between the two companies which first saw paysafecard offered as a payment method on Microsoft.com and Xbox.com in December 2020 and includes a multi-year, global deal for Microsoft to support Paysafe’s cloud-based transaction services using Microsoft Azure.

Commenting on the strengthened partnership, Chirag Patel, President of Paysafe’s Digital Wallets Division, 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. Collaborations with strong partners such as Microsoft have an enormous reach and are an important part of our growth story.”

Notes to the editor:
The collaboration initially launched in Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain, Sweden, Switzerland and the UK, and has now been extended to cover Croatia, Cyprus, Georgia, Latvia, Liechtenstein, Lithuania, Malta, Slovenia and the US.

About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading specialised payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualised transactional volume of over US $120 billion in 2021, and approximately 3,500 employees located in 10+ countries, Paysafe connects businesses and consumers across 100 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Further information is available at www.paysafe.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221114005521/en/

For Media Inquiries:

Sanna Raza, Corporate Communications Manager, DACH | sanna.raza@paysafe.com

Source: Paysafe

FAQ

What new service has Paysafe introduced in collaboration with Microsoft?

Paysafe has launched its prepaid eCash solution, paysafecard, on Microsoft.com and Xbox.com in the US and eight additional European countries.

How many countries does Paysafe's partnership with Microsoft now cover?

The partnership now covers 31 countries.

What payment methods does paysafecard offer?

Paysafecard allows customers to make cash-based online purchases without sharing credit card details.

When did the collaboration between Paysafe and Microsoft first start?

The collaboration began in December 2020.

How many retail stores offer paysafecard worldwide?

Paysafecard is available through a distribution network of 700,000 retail stores worldwide.