Have you ever heard about prepaid gift cards? This payment alternative is used almost worldwide and it offers a great solution for household debt and cybercrime around the globe. Check our tips to improve your experience buying online
Nowadays, online shopping has become something very common in our routines, however, concerns about security and privacy linger.
For example, one of the most frequent cybercrimes is Phishing, when they obtain sensitive information from targeted individuals.
In 2023, almost half (43%) of all successful attacks on organizations used social engineering, with 79% of these attacks carried out through email, SMS messages, social networks, and messaging apps
Luckily, platforms that offer prepaid cards have a unique solution, allowing users to shop online with cash. Just like gamers do with Steam Gift Cards.
In this article we will dive into how these prepaid cards work and how they revolutionize online transactions.
Paysafecard: a great example of prepaid gift cards.
Imagine a prepaid gift card tailored for online purchases – that’s essentially what a Paysafecard embodies.
Available for purchase at numerous retail outlets akin to buying phone credit, a Paysafecard voucher comes with a 16-digit PIN code.
During checkout on participating websites, users simply enter this PIN instead of divulging credit card details. The voucher’s value is then subtracted from the purchase total, offering a secure and straightforward payment process.
According to YouGov, Paysafecard ranks around 53rd for popular financial service brands, suggesting a good reputation within its sector..
Reasons Behind Paysafecard’s Popularity:
The main reason prepaid cards are so popular is its convenience. There is no need to enter sensitive information such as credit card numbers or bank details.
For this reason, it is an excellent option when users don’t feel like using traditional payment methods or are concerned about the security of their financial information online.
Also, it offers a lot of benefits for both online shoppers and safety guidelines. Such as:
Strong Security:
A 2021 Norton LifeLock Cyber Safety Insights Report, found that 42% of internet users worldwide have been targeted in a phishing scam.
By not requiring bank or credit card details, Paysafecard offers a shield against such attacks, making it a preferred choice for security-conscious online shoppers.
Widespread Banking Access Gap:
According to the World Bank’s Findex Database an estimated 1.7 billion adults globally remain unbanked.
Paysafecard provides a convenient alternative for this vast population to participate in the e-commerce world.
Budgeting and Parental Control:
A 2023 study by the Pew Research Center revealed that 95% of teens aged 13-17 have access to a smartphone.
Paysafecard allows parents to grant online purchase permissions while limiting spending to the pre-paid amount, fostering responsible financial habits in younger users.
Managing Debt:
According to Statista, in 2022, the average UK household debt (excluding mortgages) reached a staggering £28,020.
For individuals struggling with debt, Paysafecard offers a way to control online spending by limiting outlays to the prepaid voucher value. This can help curb impulsive purchases and prevent further debt accumulation.
Where Can You Use a Paysafecard?
With over 600,000 sales outlets spanning across 50 countries, acquiring Paysafecard vouchers is hassle-free.
Moreover, the card finds acceptance among thousands of online merchants worldwide, including gaming platforms, entertainment stores, and select online shopping sites.
However, it’s essential to note that while Paysafecard boasts a global presence, its availability may vary by country.
11 Tips to Ensure Your Paysafecard Experience
Are you considering this alternative for online shopping? Consider these 11 handy tips (these also applies if you have an Steam Gift Card):
- Check Compatibility: Ensure the website accepts Paysafecard as a payment option before making a purchase.
- Buy for Your Needs: Select a voucher denomination closely aligned with your intended purchase to minimize unused credit.
- Combine Vouchers: When necessary, aggregate the value of multiple Paysafecard vouchers during checkout.
- Register Your Card: Though optional, online registration unlocks features like transaction history and added security measures.
- Beware of Fees: Be mindful of transaction fees and currency conversion charges that may apply.
- Shop Around: Some retailers may offer discounts or promotions for Paysafecard purchases.
- Protect Your PIN: Treat the 16-digit PIN with utmost confidentiality, akin to safeguarding cash.And don’t share it with anyone!
- Avoid Scams: Refrain from sharing your PIN on suspicious websites, ensuring transactions solely occur on trusted platforms.
- Use It Up: Keep track of the voucher’s expiry date and utilize the balance before it lapses.
- Review reseller reputation: Prior to making a purchase, ensure to examine reviews provided by previous customers who have engaged with the same vendor. This step can provide valuable insights into the vendor’s trustworthiness and quality of customer service.
- Track Your Spending: Maintain a log of Paysafecard transactions to manage your budget effectively.
By adhering to these guidelines, users can harness the benefits of Paysafecard for secure and controlled online spending.
In essence, both Paysafecard and Steam Gift Card stands as a beacon of innovation, bridging the gap between cash-based transactions and the digital realm.
Offering unparalleled security, convenience, and financial control, it revolutionizes the way individuals navigate online shopping, making it accessible to a broader spectrum of users worldwide.