We envision a world where online payments are affordable, safe and available to everyone.
Openbucks via the paysafecard payment platform enables online merchants to accept cash and retailer gift cards as a form of payment from consumers who do not use bank accounts or credit cards to transact online.
Founded in 2011 and acquired in 2020 by Paysafe Group, we envision a world where online payments are affordable, safe and available to the millions of consumers who are excluded from e-commerce because they do not use credit cards or bank accounts.
We have 680,000+ servicing payment locations via CVS/Pharmacy, Dollar General, Circle K, paysafecard and Pacific Coffee. Openbucks services 2,000+ online merchants directly or via PSP's and aggregators. With zero chargebacks to the merchant and no fees to the consumer (excluding paysafecard fee), we are the most convenient alternative payment solution in the U.S.
2011 Launched payment platform in the US and Canada
2014 Added HKD transaction processing
2016 Surpassed $50 million in processing transactions
2017 Added cash payment options at the POS
2019 Launched plugin acceptance
2020 Acquired by Paysafe Group
2021 Merged with paysafecard platform
Openbucks acquired by Paysafe Group
July 28, 2020 - Paysafe, a leading specialized payments platform, today announces its acquisition of US-based payment technology company, Openbucks, for an undisclosed sum. Openbucks is a payment gateway that allows online merchants to accept retail gift cards as an alternative form of payment to credit cards, something that is particularly popular amongst online gaming and eSports operators. For Paysafe, this latest investment forms part of its strategy to further expand its cash alternative payment offering in the US, one of the world’s largest e-commerce markets with revenue projected to grow from $374bn in 2020 to $476bn by 2024.¹
Openbucks has been granted a license under U.S. Patent No. 6,876,979.