Paysafecard Enters Brazil, Marking Further Expansion in Latin America

Paysafe Group (LSE:PAYS) continues its aggressive expansion in the Americas as Paysafecard enters Brazil, offering a free of charge online prepaid payment solution.

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Paysafecard is already present in Argentina, Peru, Uruguay and Mexico and is now facilitating Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term for the eGames market in Brazil.

The company announced that it will be collaborating with RV Tecnologia as Brazil's large size requires an extensive sales network. With this partnership, it will be able to offer the card at over 40,000 sales outlets.

Payment processing will be carried out by PrimeiroPay, which also has an extensive network and an in-depth understanding of the Brazilian market.

Paysafecard said that the cards will first be accepted by large and well known partners in the eGames network, before being expanded to websites that specialise in travel, entertainment and education.

Udo Müller, CEO of paysafecard, said: "Brazil is an enormous market which has not yet seen a digital payment method comparable to paysafecard. The current options on offer are as expensive, inconvenient or problematic for the merchants as they are for the users, and they can also come with delayed processing times. paysafecard offers an ideal alternative: free, immediately available, safe and convenient."

Paysafecard recently expanded into the lucrative Middle East market by launching operations in the UAE and its entry into Brazil continues its coverage of the major countries in Latin America.