Bettors in Canada need to have a choice of available payment methods that they can trust and one of the more common options is PaySafeCard. This is also one of the oldest forms of eWallets around, having first been made available to the public back in 2000.
A number of sportsbooks that are open to Canadian players offer PaySafeCard as a funding option so what is the company background and how do you use the service to make deposits and withdrawals to your account?
What is PaySafeCard?
PaySafecard is an online payments company that features a prepaid Mastercard at the heart of its operation. It’s funded by vouchers with account holders purchasing those vouchers from a selection of online retailers and inputting a sixteen digit pin code.
By doing this, the card is then topped up and it can be used at any retailer or service that accepts Mastercard. Online video games are a popular final pay point but we’re focusing here on the gambling industry.
The PaySafeCard operation was set up in 2000 in Vienna Austria. In 2013, it was acquired by the Skrill organisation who are another eWallet provider. Branded as the PaySafe Group, annual revenue for the company approached 200 million Euros in 2016.
Anyone can sign up for a PaySafeCard account: Simply find them online and complete what is a very simple registration process. A card will be sent to the applicant’s home address and they can then use it to make purchases in the same way that they would with a standard Mastercard.
With online sportsbooks, this would typically mean clicking on the deposit button, choosing the amount to add and confirming the transaction.
PaySafeCard to Paypal
Unlike a number of similar eWallet providers, you can use PaySafeCard to make purchases directly from your PayPal account. Log on to your PaySafe homepage and the instructions are laid out in full but essentially, it works as follows:
To make purchases in this way you will firstly need to log on to your PayPal account. Once inside, click on the banks and cards section from the menu on the top left.
You will now see an option to link a card and when that appears, you can add the requested details of your PaySafe Mastercard. Confirm all of those details and the card is now saved in your PayPal account.
You cannot transfer money directly between the two entities but PayPal accepts most prepaid Mastercards these days and PaySafe is no exception.
PaySafeCard in Canada
We know that PaySafeCard is Canadian friendly because it has its own .ca website. That’s the one to head for if you want to sign up but bear in mind that not all sportsbooks offer PaySafeCard as a funding method. It is widely offered however so check first before signing up.
Full details of security and step by step guides as to how the service works are available so head for the Canadian version of the PaySafe Group website if you want to get on board.
PaySafeCard Fees
Any Canadian bettor looking to use PaySafeCard for deposits and withdrawals should check the payments section of the operator in question. They may apply their own charges for using the service so check this point carefully before going ahead.
As for PaySafeCard themselves, they publish a section on their website marked as my PaySafeCard fees. This is subject to change but as of the start of 2019, there are the following points to keep in mind.
While PaySafeCard is largely free to use, some retailers make a small charge when you purchase the Mastercard itself. Those charges may vary so check that point with the individual retailer before going ahead.
In addition, PaySafe themselves charge a $2.50 CAD per month for maintenance of PIN. There are charges for currency conversion too but for full details, scroll down to the bottom of the webpage and click on the button marked fees and limits.
