26.01.2011

FMA issues first payment service licence to paysafecard.com Wertkarten Vertriebs GmbH

26 January 2011, Vienna – With the help of a licence, the Payment Services Act allows companies other than banks to provide payment services which had previously been the reserve of credit institutions in Austria. These licences are issued by the Austrian Financial Market Authority (FMA). paysafecard.com Wertkarten Vertriebs GmbH is the first Austrian company to receive such a licence.

The Payment Service Directive (PSD) was incorporated into Austrian law for the national market on 1 November 2009. The aim of PSD is to unify payment transactions within the European Economic Area and open the market for a new category of payment institutions. The receipt of the licence means that paysafecard.com customers – in this sense those online store operators who accept paysafecard as a payment method – benefit from the highest, Europe-wide regulated security standards. The Payment Services Act includes the obligation to provide comprehensive information to the customer, such as the transparent display of all applicable fees.

Commenting on this, Michael Müller, CEO of paysafecard.com Wertkarten Vertriebs GmbH, says: "We are very pleased that paysafecard.com Wertkarten Vertriebs GmbH is the first company to be issued a payment service licence in Austria. The implementation of PSD in Austria is an important step towards the harmonisation of payment transfers across Europe.”

Since its launch in 2000, the payment method paysafecard has been the leading alternative online payment method and is currently available in 27 countries in Europe and North and South America. The prepaid solution works like a prepaid mobile phone card. All that’s needed to make a payment transaction is the 16-digit PIN. paysafecard is available at more than 300,000 sales outlets and is integrated into more than 3500 online stores.

 

About paysafecard:

paysafecard.com Wertkarten Vertriebs GmbH is a subsidiary of paysafecard.com Wertkarten AG. paysafecard.com Wertkarten AG is based in Vienna, Austria with subsidiaries in London, Lucerne, New York, Mexico City and Buenos Aires. The company was founded in Austria in 2000 and is today present in 27 countries around the world with the paysafecard brand. paysafecard.com Wertkarten AG has become the European market leader in prepaid payment solutions with its four brands: paysafecard, Cash-Ticket, YUNA and Happy Schenkcard. In 2009, it was awarded a Paybefore Award for Best Prepaid Company Outside USA as well as a Prepaid Award for Leading Prepaid Organisation 2009.