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Paysafecard Launches Cash-Based Online Payment Solution For Vending Machines In UAE

VIENNA -- Paysafecard , a division of Paysafe Group plc, has entered the United Arab Emirates with a prepaid payment solution that requires no bank or credit card information. The company is making its UAE start in cooperation with its sales partner, uPay, which will offer the payment method at 300 vending machines. Paysafe customers need neither a bank account nor a credit card; paying requires simply entering a 16-digit PIN. Currently, Paysafecard is available in the emerging MENA region; in both Saud...

August 7, 2017 by Emily Jed

VIENNA -- Paysafecard, a division of Paysafe Group plc, has entered the United Arab Emirates with a prepaid payment solution that requires no bank or credit card information. The company is making its UAE start in cooperation with its sales partner, uPay, which will offer the payment method at 300 vending machines.

Paysafe customers need neither a bank account nor a credit card; paying requires simply entering a 16-digit PIN. Currently, Paysafecard is available in the emerging MENA region; in both Saudi Arabia and Kuwait.

The UAE continues to embrace technology innovation in line with its government's "Smart Dubai" initiative intended to transform Dubai into the world's smartest city. With Samsung, Apple and many other international technology companies taking advantage of the governments' support, digital payment systems have become a key area of focus, which made moving into the UAE a logical step for Paysafecard, officials said.

The UAE is ranked ninth in gross national product per capita when, placing it above countries such as Switzerland, according to Paysafecard. Internet usage is reportedly at more than 93%, almost 65% of the 5.8 million population use mobile broadband Internet and cash affinity is still very high, while credit card penetration is low.

Udo Mueller

"The UAE is an ideal market for our business expansion given the GNP, Internet usage, demographics and low credit card usage," commented Paysafecard chief executive Udo Mueller. "Being able to offer Paysafecard in the UAE brings great value for the customers because it allows them to use their preferred payment method –cash -- to pay online quickly and safely as well as for local brick-and-mortar shops."