Online prepaid payment method paysafecard launches in Georgia

Vienna, 09 march 2016 – paysafecard, the global market leader in prepaid online payment methods based in Vienna and member of Paysafe Group plc, resolutely continues in its development of new markets. The company has extended its network to Georgia and, in doing so, reaches one of the strongest national economies in the South Caucasus, at the juncture to Europe. The expansion sees the addition of the forty-third country to the paysafecard network. The ‘cash for the internet’ is now available there at over 2,500 Bank of Georgia Express Bank terminals, offering customers a simple, safe and fast prepaid online payment solution for digital goods. Further sales outlets and distribution partners are to follow shortly.

Top economical performer

The expansion is set against a background of very clear economic considerations by the specialist in prepaid online payments, as Georgia has one of the strongest economies in the region. In 2015 Georgia’s forecasted GDP growth reached 5.5% and the World Bank nominated the country as “the number one economic reformer in the world”.

Strong start for success from the outset

With a distribution network of more than 2,500 Bank of Georgia Express Bank terminals across the country, paysafecard is providing an effective national presence from the beginning. Secure online paysafecard payments without a credit card or bank account are particularly important to the high proportion of the local population which does not have a bank account. paysafecard is available in the local currency (Georgian lari) in the amounts of 10, 20, 30, 50 and 70 lari (one lari is equivalent to approximately 0.36 EUR). Mobile phone penetration in Georgia is 109%, which will additionally spur the use of paysafecard as a mobile payment method.

Udo Müller, CEO of paysafecard, on this latest milestone: “With now only a few countries left, our presence in Europe is, step by step, coming to completion. Our aspiration as a global market leader is to provide a safe, alterative to online payments, including to people in those countries not centre stage of the digital society. On the contrary, we see unique potential here and will use it decisively.”

Source: CIA World Facebook

About paysafecard:

paysafecard.com Wertkarten GmbH (holding of all paysafecard companies), www.paysafecard.com, is based in Vienna with subsidiaries in London, Düsseldorf, Lucerne, New York and Buenos Aires, among other places. The company was founded in Austria in 2000 and is part of Paysafe Group plc, which is listed on the London Stock Exchange’s Main Market under the stock ticker symbol PAYS.

The company is now present in 43 countries at over 500,000 sales outlets worldwide with its core product paysafecard. paysafecard is a prepaid online payment solution issued and operated by Prepaid Services Company Limited, Floor 27, 25 Canada Square, Canary Wharf, London E14 5LQ, United Kingdom. Anyone can use paysafecard; no bank account or credit card is necessary. The paysafecard 16-digit PIN is all that's needed to complete a payment transaction. paysafecard can be used at thousands of online shops. The company has become one of the market leaders in prepaid payment solutions with the brands paysafecard, my paysafecard and paysafecard Mastercard®.

paysafecard has received numerous awards over the years. These include the Paybefore Award in the categories of "Best Digital Currency", "Best Virtual or Digital Program" and "Top Digital Dollars", as well as in the newly created category “Consumer Value” in early 2015. paysafecard has also been awarded the Paybefore Award Europe in the categories of "Most Innovative Prepaid Solution" and "Consumer Champion". In 2014, The New Economy recognised paysafecard as one of the 40 most innovative companies of 2013.

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