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Isn't paysafecard the point-and-click-and-become-a-card-provider of the pay card industry along with Wirecard? Used by loads of dodgy no credit check providers

Isn't paysafecard the point-and-click-and-become-a-card-provider of the pay card industry along with Wirecard? Used by loads of dodgy no credit check providers, card providers going bust every other week, apparently its harder to spin up an AWS EC2 instance than it is to become a card provider with these jokers. At a functional level - No 3DSecure support, unexplained failures, little insight from the vendor into paysafe infrastructure. I'm very surprised Coinbase launched on this mickey mouse platform. It's like launching a clothing brand with cafepress.com as your product provider Ill stick with Monzo thanks

tshanmu 7y ago
interesting that this comment has been voted up :) - you are not the target market - if you can spend the cryto you HODLing on Monzo as easily then your comment is valid.
- sdfsdfsdfsdf3 7y ago
  The amount of KYC/AML nonsense you have to go through with Coinbase UK is higher than Monzo/Revolut/Transferwise/Starling, so if you qualify for Coinbase UK card you qualify for any number of better solutions. If you refer to the conversion of crypto to fiat, you simply withdraw to your Monzo or whatever and spend, yes it's an extra click but it beats the embarrassment of card rejected as acceptance of these clown cards is very hit and miss (despite the Visa/MC network backing).
  - Matsta 7y ago
    The problem with most banks in the UK is they'll usually lock or even cancel your account if you're dealing with Crypto. Monzo is well known for doing it (Google "Monzo closed account bitcoin"). Barclays is one of the only banks slowly accepting Crypto related transactions. Most people I know dealing with Crypto are using Revolut as they are not a proper bank. However, they recently blocked transactions to Coinbase's account (this is most likely because they are applying for a UK banking license).
  - tluyben2 7y ago
    But then you are just not the audience; people with crypto can already (in some countries) convert to fiat indeed, but they do not want to; they want to pay 1 coffee and 20 minutes later a sandwich etc and leave the remainder in crypto. They do not want to conciously get up and convert 100 pounds, do their shopping and repeat that the next day.
thesimon 7y ago
> No 3DSecure support That should change within the next few weeks as PSD2 requires that.
- tluyben2 7y ago
  Or an approved equally secure alternative: we for instance have dynamic cvv, no 3dsecure needed.
strogonoff 7y ago
> along with Wirecard > card providers going bust every other week Any citations? No comment on this issuer but I’ve been using debit plastic from Wirecard for 5+ years with no acceptance issues and Payoneer doesn’t show signs of going bust.
Matsta 7y ago
Paysafe is a big player in the gambling industry. Getting a gambling license in the UK is extremely hard as there is a bit of lobbying involved by the big players. Same goes in general for Cryptocurrency related services. If Coinbase were to directly provide Visa/Mastercard cards, they would never get approved for the appropriate license. Hence why they are partnering with Paysafe.

tshanmu 7y ago

interesting that this comment has been voted up :) - you are not the target market - if you can spend the cryto you HODLing on Monzo as easily then your comment is valid.

sdfsdfsdfsdf3 7y ago
The amount of KYC/AML nonsense you have to go through with Coinbase UK is higher than Monzo/Revolut/Transferwise/Starling, so if you qualify for Coinbase UK card you qualify for any number of better solutions. If you refer to the conversion of crypto to fiat, you simply withdraw to your Monzo or whatever and spend, yes it's an extra click but it beats the embarrassment of card rejected as acceptance of these clown cards is very hit and miss (despite the Visa/MC network backing).
- Matsta 7y ago
  The problem with most banks in the UK is they'll usually lock or even cancel your account if you're dealing with Crypto. Monzo is well known for doing it (Google "Monzo closed account bitcoin"). Barclays is one of the only banks slowly accepting Crypto related transactions. Most people I know dealing with Crypto are using Revolut as they are not a proper bank. However, they recently blocked transactions to Coinbase's account (this is most likely because they are applying for a UK banking license).
- tluyben2 7y ago
  But then you are just not the audience; people with crypto can already (in some countries) convert to fiat indeed, but they do not want to; they want to pay 1 coffee and 20 minutes later a sandwich etc and leave the remainder in crypto. They do not want to conciously get up and convert 100 pounds, do their shopping and repeat that the next day.

thesimon 7y ago

> No 3DSecure support That should change within the next few weeks as PSD2 requires that.

tluyben2 7y ago
Or an approved equally secure alternative: we for instance have dynamic cvv, no 3dsecure needed.

strogonoff 7y ago

> along with Wirecard > card providers going bust every other week Any citations? No comment on this issuer but I’ve been using debit plastic from Wirecard for 5+ years with no acceptance issues and Payoneer doesn’t show signs of going bust.

Matsta 7y ago

Paysafe is a big player in the gambling industry. Getting a gambling license in the UK is extremely hard as there is a bit of lobbying involved by the big players. Same goes in general for Cryptocurrency related services. If Coinbase were to directly provide Visa/Mastercard cards, they would never get approved for the appropriate license. Hence why they are partnering with Paysafe.