paysafecard, an Austrian e-cash solutions provider owned by Paysafe, has launched its operations in Iceland, thereby expanding its presence to 49 countries.

The company entered into a sales partnership with Basko verslanir to launch in this European country. It is also in talks with other companies to bolster its distribution network.

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Currently, paysafecard is available in four denominations- ISK1,500 (€10.84), ISK3,000, ISK6,000 and ISK12,000.

Iceland has a highly digital population with internet usage rate of 98%, according to CIA World Factbook. paysafecard aims to cater to this digitised population, enabling them to offer online cash payments.

paysafecard CEO Udo Müller said: “Iceland is one of the most digitally penetrated societies in the world, with high growth potential and a high affinity for innovation.

“paysafecard is bringing its global experience of secure and easy-to-use prepaid solutions to Iceland, representing the final step in making our solution available across the whole of Northern Europe.”

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Basko verslanir managing director Sigurður Karlsson added: “paysafecard will provide users in Iceland with a secure and convenient payment method that has been tried and tested in dozens of markets worldwide.

“It removes the reliance on bank accounts and credit cards for online shoppers and offers direct access to many international online services in the area of digital entertainment such as gaming and esports.”