2.75 million inhabitants. 85% under 40. 85% internet usage. 100% mobile broadband technology usage. The expansion into Kuwait sees the addition of the young and internet-adept population of one of the fastest-growing markets for prepaid payments in the Middle East. The majority of consumers there still rely almost exclusively on cash. As cash for the internet, paysafecard offers them and 40 additional countries a simple, safe and fast online prepaid payment solution for digital goods.
A market with potential
Although the young population is highly open to technological developments, 35% does not have a bank account. However, the market for online games in the MENA region is developing at an exceptional pace — recently achieving an annual volume of 200 million USD and a growth rate of 46%. Together, these facts reveal a market for which paysafecard is optimally suited as a digital prepaid payment method for the internet.
We love to entertain you …!
Focusing on online gaming and digital entertainment, such as music and social media, paysafecard is available in the amounts of 5, 10, 20 and 60 Kuwaiti Dinar. 1 Kuwaiti Dinar is roughly equivalent to 3 euros. Distribution is handled by several distribution partners with a couple of thousand sales outlet between them. In terms of the country’s population and a land area of 17,800 km², this secures an extremely dense network and easy access to paysafecard for our users.
And Kuwait is only the beginning. paysafecard is continuing its global expansion in the Middle East with preparations for market entry into the United Arab Emirates and Saudi Arabia already in full swing. Stay tuned!