E-money in Germany - changes for paysafecard

Due to the legal framework for the implementation of the new AML Law in Germany in order to optimize the prevention of money laundering (dated 28.12.2011) and discussions with regulatory authorities there are requirements in order to prevent so-called pooling of electronic money.

That means for paysafecard that until further notice no paysafecard PINs may be combined with each other within a payment transaction and paysafecard PINs cannot be used for loading YUNA and my paysafecard. With the implementation of these new technical changes, our product meets the requirements of § 25i paragraph 2 KWG and it can thus be ensured that customers can use paysafecard, an electronic money product, fast, safe and up to EUR 100 without customers identification at the Point of Sale.

We work very closely with the relevant regulatory authorities in order to offer the services as quickly as possible again. We cannot predict an exact date for a solution on this topic.

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