paysafecard has never been shy in expanding its presence
into new markets across the globe. Although its orgins are
firmly routed in Europe, recent years has seen the company look
increasingly to markets such as the US and Latin America. Jens
Bader, paysafecard’s newly appointed chief commercial officer,
speaks to EPI and explains why a refocus into Europe is
just what the company needs.
Go deeper with GlobalData
Q: Why
did you decide to take up your position as CCO for
paysafecard?
A: I have a high respect for
paysafecard’s product. The company has been growing very nicely and
the product is established with a good reputation within the
market.
I wanted to move to company where the product
is being engineered to enable me to have more of an
influence.
I am somewhat of an international European
specialist and that was a very good fit with paysafecard. It is the
region they are most active and successful in and a place where
there are still so many opportunities for paysafecard to capitalise
on.
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By GlobalDataQ: What challenges will you face in
the first year of your role?
A: paysafecard has a large
staffing requirement and lacks the structure to cope with the
company’s fast-moving growth strategies. We are getting more
business through the door than we can handle. Combating those
issues will be one of my biggest tasks.
Q: Have you seen a change in
paysafecard’s strategy since your arrival?
A: paysafecard came to a
certain point where it was believed it had reached a point of
stagnation in terms of its growth within Europe. As a result, the
company concentrated on launching its product in markets outside of
Europe such as the US, Argentina and Mexico. Very quickly however,
the company realised there were still massive opportunities in
Europe, discovering new industries to position its product.
paysafecard is committed to the online gaming
industry but now sees potential in streaming media, mobile content,
mobile apps and interactive TV platforms. This realisation has, in
effect, refocused the company towards Europe.
Q: Which European markets will become
your next focus?
A: The next markets due for
launch will be Hungary, Croatia and Turkey and we expect the
product to be available in all three counties by the end of May
2011.
Q: Could the refocusing strategy be
viewed as backtracking from lukewarm launches outside of
Europe?
A: I would not call it
backtracking but we know that when you launch into a country such
as the US, it can take 3-4 years before you see any revenue. The US
has been an experiment for paysafecard, it is looking okay and is
well within our expectations. We believe our knowledge is far more
applicable to Europe and the time to revenue is shorter if we
develop a country within Europe.
Rather than go outside of Europe and invest
money into a country that we are not familiar with and use
languages we cannot support, such as Asia, the whole company now
has an understanding of the strategy for 2011 and 2012 that we are
to concentrate on European countries.
