The PaysafeWallet is designed to support everyday financial management, enabling customers to send, receive, spend and withdraw money, the company said in a Wednesday (April 22) press release emailed to PYMNTS.
It is supported by a dedicated IBAN-enabled personal payment account and debit card, according to the release.
“PaysafeWallet is a core consumer product and a brand that carries the Paysafe name and represents where we are headed,” Paysafe Chief Product Officer Bob Legters said in the release. “It connects cash-based consumers to a modern digital wallet experience, combining everyday usability with the financial services they need to participate fully in the experience economy.”
Paysafe initially launched this digital wallet in select European markets, and then expanded it, according to the release. Now, in 18 European countries, PaysafeWallet is live across the PaysafeCard app, website and customer-facing marketing.
Today, the digital wallet is live in Germany, France, Greece, Spain, Italy, Austria, the Netherlands, Slovakia, Belgium, Portugal, Ireland, Slovenia, Finland, Cypress, Latvia, Lithuania, Luxembourg and Malta, per the release.
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Paysafe reported in March that its active digital wallet users increased 6% year over year to reach 7.8 million at the end of the fourth quarter. The company’s digital wallet revenue increased 13% year over year to $220.2 million, or 6% on an organic basis.
Legters told PYMNTS in an interview posted in February that digital wallets are becoming the organizing layer of commerce, where identity, funds, rewards and brand engagement converge.
While wallets are already embedded in the daily habits of billions of users, many consumers don’t realize they’re using wallets at all, Legters said.
“I’ve talked to multiple consumers where they’ve said, ‘Yeah, no, I don’t use wallets,’” Legters said, adding that a few questions later, it becomes clear they keep funds inside apps, store balances for future purchases or manage segmented spending through digital platforms.
Paysafe CEO Bruce Lowthers wrote in the PYMNTS eBook “2025’s Over/Under: The Bets That Paid Off” that global digital wallet transaction value leapt from $3.9 trillion in 2020 to $10 trillion in 2024.
