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 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 alternative 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.”