The European Payment System Paysera Enters the Indian Market

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The European payment system Paysera has entered the Indian market and will offer a range of services, i.e., international transfers at local rates and low commissions for the collection of fees.

Paysera provides a wide range of services such as payments via the Internet and mobile devices, payments by Visa, Mastercard, Maestro and SMS payments.

Paysera provides a wide range of services such as payments via the Internet and mobile devices, payments by Visa, Mastercard, Maestro and SMS payments. One of the biggest free-to-play games’ development companies “Goodgame Studios” has installed Paysera as a real-time payment gateway. Paysera offers free online payments and free-of-charge transfers through Paysera accounts between individuals.

Paysera is focused on innovative and smart payment methods. The number of “mobile wallet users” is increasing rapidly in Eastern Europe. Paysera’s mobile wallet provides the possibility to pay for goods or services in gas stations, street fairs, restaurants and for taxi services. It enables businessmen to work without a cash register. In September 2014, Vilnius, the capital city of Lithuania, hosted the first ever smart street fair, where payments for goods were processed by using a mobile phone. It is believed that these kinds of services will be very attractive to the Indian market.

One of Paysera’s most popular products are international money transfers, which are cheaper when compared with rates applied in banks or other money transfer companies like “Xpress Money”, “Western Union”, “Opal Transfer”, “TransferGo”, etc. Now that Paysera has been launched in India, it will make international money transfers to India much cheaper.

Paysera payment system allows to make international payments at local rates. Transfers to the United Kingdom (via Paysera) cost 0,6 GBP (0,77 EUR), to Norway – 1,00 NOK (0,12 EUR), Denmark – 1,00 DKK (0,14 EUR), and Poland – 1,50 PLN (0,37 EUR). Paysera offers a competitive exchange rate, which makes the international transfer even cheaper.

“Cheap international transfers are among our priorities. We have been working a lot in the Eastern Europe, which like India, has a large emigrant community. Many people work abroad and send a part of their earnings back home to relatives. It is very important that money can be transferred cheaper”, says Kostas Noreika, CEO of EVP International, who develops the Paysera payment system.

Paysera’s unit in India was opened in cooperation with a local partner, the Money Max Financial Services Company. Its general manager, Sonu Singh, has long-term experience in the fields of banking and implementing solutions for the collection of debts and deposits

Paysera has implemented a real-time payment gateway to “Travel Shoppe”, a company of “Ezze Flights” group, which specializes in Long Haul Luxury tailor-made holidays and Cruises.

Paysera has established a subsidiary in Georgia, and in the beginning of 2015 subsidiaries will be opened in Russia and Belarus.

About Paysera:
Paysera is a global payments system, which enables its users to make reasonable savings when making international payments for the price of local rates. Paysera is an electronic payment institution, licensed by the European Union, and is a leader in a global market for its wide range of services such as international transfers at local rates, payments done via the Internet and mobile devices, money transfers by SMS, collection of fees, immediate payments when shopping by using QR codes.

Currently Paysera has 170 000 users. EUR 750M were transferred by using Paysera in 2014. Since the system was launched two years ago, 70 banks all over the world have chosen to become partners of the system. Paysera expands its business by creating global solutions for local markets.

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Andrius Balkunas
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