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Paysafecard is an electronic payment method for predominantly online shopping and is based on a pre-pay system. Paysafecard is based in Vienna, Austria and has been in existence since 2000. Exchanging cash for Electronic Money (for use online) is facilitated through paysafecard in many countries worldwide. Since 2006 paysafecard has been involved with the eTEN programme (Project description) promoted by the European Union.

Source: Paysafecard on Wikipedia