The product paysafecard has been available in the Latin American countries of Mexico since 2010 and Argentina since 2009. With the move into Peru and Uruguay, the two countries are now joined by two burgeoning economies exhibiting the optimal conditions for prepaid online payments. This follows a strategy of developing existing markets in tandem with entering prospering new markets.

Peru and Uruguay boast huge potential for prepaid solutions
Peru has a population of around 30 million and an internet penetration rate of 40% - which is markedly above average for Latin America. Around 70% of Peruvians do not possess a bank account and are therefore reliant on prepaid solutions for paying online. Here, as is in its currently most successful markets, paysafecard is available as a generally accessible prepaid payment method for a wide range of uses. At launch, more than 3,500 sales outlets are already secured - a figure which will grow to 10,000 over the coming months.

Uruguay may be significantly smaller than Peru, but it is a booming and forward-looking society. With an internet penetration rate of 71%, it has the highest in the whole of Latin America. Studies have found that Uruguay enjoys the fastest internet connection speeds of the entire continent of America, even exceeding those of the USA. At the same time, 76% of the adult population does not have a bank account. paysafecard will also be available here as a generally accessible prepaid payment method. Distribution is handled by an exclusive partner, who operates around 5000 sales outlets.

Udo Müller, CEO of paysafecard.com Wertkarten AG, on the opening up of these new markets: "As Latin American countries, Peru and Uruguay offer both optimal conditions and enormous potential for our product. It is for these reasons that we are hugely excited about taking this step. It is against this backdrop and with strong local partners that we continue to grow as world market leader in a deliberate fashion. Our ambitious expansion plans will follow the opening up of these two countries with further new markets, and will soon see us present across the breadth of Latin America."