paysafecard, an Austria -based provider prepaid payments solutions, has expanded its presence in the Middle East region by launching its operations in Kuwait.
The company revealed that initially it will be focusing particularly on online gaming and digital entertainment segment.
paysafecard -the company prepaid solution which works like a prepaid mobile phone card – will be available in the amounts of 5, 10, 20 and 60 Kuwaiti Dinar. Customers purchase a 16-digit PIN in exchange for cash and use this to pay at an online shop.
According to the company, distribution of its products is handled by several partners with a total of more than a thousand sales outlets.
Commenting on this latest expansion step, paysafecard CEO Udo Muller said: "Kuwait is, without a doubt, a poster child of the digital age. The push into Kuwait underscores how our belief in the huge potential of new markets is greater than ever.
"The move requires deep analysis and thorough preparation alongside full compliance with local legal requirements. Having completed this work, I am convinced of the success of paysafecard in Kuwait. It also expands our international position, which is a central factor in the success of paysafecard."
Kuwait is the 41st market worldwide in which paysafecard now has presence.
The company in a statement also revealed that it is planning introduce its services in the UAE and Saudi Arabia soon.