Most of Paysafe’s Trustpilot user complaints center around its paysafecard, a prepaid digital payment card, and consumers’ inability to withdraw money from it. However, Paysafe is prompt in replying to negative reviews (within two days). Paysafe has a 1.4-star out of five-star user rating on Trustpilot with over 500 user reviews and a 1.4-star average user review with the Better Business Bureau (BBB). In addition, for mid-sized or large companies with high-volume monthly transactions, Paysafe’s low per-transaction rates of 0.03% plus 10 cents per online and card-present transaction help to balance out its extra fees elsewhere, such as its high-risk merchant fee and its $12.95 monthly fee. Still, most competitors do not accept high-risk merchants at all. These merchants must pay $200 per month for Paysafe’s costs associated with the ongoing monitoring of high-risk merchants. Paysafe stands out among competitors as a credit card payment processor that accepts high-risk merchants.
It operates in 120 global markets and offers 70 payment methods for localized payment processing solutions, including online, in-store, cross-border and mobile point-of-sale (POS) systems. In 2022, it earned over $130 billion in annualized transaction volumes. Though its payment platform was only launched in 2018. With headquarters in London, Paysafe is a global credit card processing solution with 20 years of experience.
