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Paysafe and Microsoft extend collaboration

Source: Paysafe

Leading specialised payments platform Paysafe (NYSE: PSFE) has further strengthened its relationship with Microsoft, launching paysafecard as a new alternative payment option on Microsoft.com and Xbox.com in the United States and eight additional European countries.

The ongoing collaboration between the two companies now spans 31 countries. This latest development means that millions of new customers in the US and Europe who don’t have access to traditional online payment solutions or who prefer not to share their credit card information online can now make cash-based purchases on Microsoft.com and Xbox.com. In 22 European countries, this service is also available on the Xbox game console.

The prepaid payment solution paysafecard, available in 50 countries through a distribution network of 700,000 retail stores, enables consumers to use cash to pay for services online. Using a 16-digit code, payment transactions are completed simply and reliably. Bank account or credit card details are not required.

The expanded cooperation between Paysafe and Microsoft is the newest extension of a collaboration between the two companies which first saw paysafecard offered as a payment method on Microsoft.com and Xbox.com in December 2020 and includes a multi-year, global deal for Microsoft to support Paysafe’s cloud-based transaction services using Microsoft Azure.

Commenting on the strengthened partnership, Chirag Patel, President of Paysafe’s Digital Wallets Division, said: “The ability to partner with Microsoft and offer paysafecard in an additional nine countries provides an important alternative payment method for millions of customers. It’s an inclusive payment solution for gamers, allowing them to easily access the digital world of entertainment while managing their budgets. Collaborations with strong partners such as Microsoft have an enormous reach and are an important part of our growth story.”

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