Paysera, established in 2004, is a Lithuanian fintech company offering various financial services, including payment cards, money transfers, currency exchange, and online IBAN accounts. Paysera accounts are designed for both individuals and businesses.
How Paysera Works
You can open a Paysera personal account by downloading the free Paysera app from Google Play or the App Store. To open a corporate/business account, you must first open a personal Paysera account as the company’s director. A business account can then be opened by the head of the company or an appointed person with power of attorney. Required documents include a list of shareholders, which is an official document from the company registry. If your country’s company registry is not publicly accessible, the document should be confirmed by a notary or signed with an e-signature by the company registry.
Paysera accounts allow you to hold and manage multiple currencies, send and receive international payments, and access a virtual debit card for online purchases. Businesses benefit from dedicated business accounts with features like bulk payments, payment gateways, and invoicing tools. As a payment provider, it enables you to schedule all kinds of payments to be made from your account every month, week, or even daily.
You can now trade gold directly through their app, and they’re officially partnered with Shopify as a payment provider. Additionally, they support popular mobile wallets like Google Pay and Samsung Pay, increasing their convenience for various transactions.
Paysera offers various cash in and cash out options, but their availability depends on your location. In some countries like Lithuania, Estonia, Latvia, and Bulgaria, you can deposit cash at partner locations like kiosks, post offices, or retail stores. Similar to cash in, some countries allow cash withdrawal at partner locations.
Paysera offers a savings feature within the app at no cost and functions similar to a digital piggy bank for your finances. You can deposit and withdraw funds at your convenience, although no interest accrues on the saved amount. Furthermore, you have the flexibility to create multiple accounts and adjust them as needed. Additionally, the feature allows for shared saving with friends or loved ones towards common financial objectives.
You can also open a joint account with Paysera. In order to open a joint account in Paysera, both people must have personal Paysera accounts. Joint account opening is free of charge.
Paysera Card
The primary currency of the Visa payment card is euro, meaning all operations are conducted and funds debited in euro. Non-euro currency payments are automatically converted into euro. The card can be linked with PayPal, and up to 5 payment cards can be issued to one person. It features contactless payment for quick transactions at POS with NFC card readers. The card account is separate from the main account, allowing for easy spending control.
Paysera Money Transfer
With a Paysera IBAN account, money can be transferred quickly and easily in various currencies worldwide. Transfers in Europe (SEPA) are free for private clients, with currency exchange available in real-time at favorable rates to 30 different currencies. Euro transfers (SEPA) are unlimited and free for all private clients, and cost only 0.29 EUR for business. Instant euro transfers (SEPA Instant) are available 24/7, in real-time, with both incoming and outgoing transfers free for private clients and costing 0.29 EUR for business. International transfers in 30 different currencies can be completed within 30 minutes. Transfers between Paysera users can be executed by phone number or email address.
You can use Paysera to send money to someone, who can then pick up cash at a designated location worldwide. This service incurs a fee and supports various currencies, but not all.
Paysera Business Account
Paysera offers a range of payment solutions tailored for various businesses, including e-shops, gaming or entertainment portals, restaurants, cafés, and mobile POS. It provides a ticketing system for event organizers, software data exchange and management, payments at mobile and other POS, payment gateway service Checkout with integration of popular payment methods, and convenient business account management online and via the mobile app.
Additionally, Paysera offers an event ticketing system, Paysera Tickets, for selling tickets and publicizing events. Paysera Tickets operates as a self-service event ticketing platform, offering customers the benefit of no additional fees. For organizers of free events, the service is provided at no charge. Should organizers choose to distribute paid tickets through Paysera Tickets, they will be required to open a Paysera business account.
Paysera Currency Exchange
Whether you’re sending money abroad or managing international business transactions, Paysera offers you convenient ways to exchange your money at competitive rates. With Paysera, you can exchange currencies in real-time using the online currency exchange calculator on their website or mobile app, allowing you to compare rates for various currencies like EUR, GBP, USD, PLN, and more. For everyday currency exchange needs, Paysera offers favorable rates up to 500 EUR/month, ensuring that even small transactions benefit from favorable rates.
Moreover, for larger exchanges exceeding 5000 EUR, users can enjoy especially favorable rates, applied automatically for both individuals and businesses. Paysera also provides custom solutions for businesses regularly conducting large-volume foreign currency transactions. Business clients can contact Paysera for personalized exchange rates that are hard to beat, offering tailored solutions to meet their specific needs and preferences.
Paysera Pricing
While opening a personal account is free, transaction fees and currency exchange rates apply. Pricing varies depending on the service used and transaction volume.
| Paysera Fee Type | Personal Account Fee | Business Account Fee |
|---|---|---|
| Account Opening | No fee | €10 |
| Monthly Maintenance | No fee | €2.99/month |
| ATM Withdrawal (in euros) | €1 | |
| ATM Withdrawal (other currencies) | 2% | |
| Foreign Exchange | 2.5% | |
| International Transfer (in euros) | €0.50 | |
| International Transfer (other currencies) | 2% | |
| Card Payment (other currencies) | 2% | |
| Paysera Debit Card | €0.75/month |
Paysera Supported Countries
Paysera supports over 100 countries in Europe, Asia, Africa, and Americas, including UK, Belgium, Denmark, Portugal, Netherlands, Norway, France, Germany, Switzerland, Australia, Japan, Hong Kong, US, Tanzania, and Algeria.
Is Paysera Safe and Legit?
Paysera is a trusted payment provider that has been around since 2004. The company is licensed and regulated by the Bank of Lithuania, adhering to strict security protocols to safeguard users’ funds and personal information. Additionally, Paysera employs state-of-the-art encryption technologies to protect data transmitted through its platform.
Paysera Alternatives
While Paysera offers a comprehensive suite of features and services, it’s not the only player in the market. Here are some of Paysera competitors and alternatives:
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