Integrated payments platform Paysafe announced on Tuesday it has expanded its alternative payment method Paysafecash to the U.S. This expansion comes less than six months after Paysafecash made its debut in Mexico. Now in nearly 30 countries, Safesafecash is designed for consumers who do not have a bank account or credit card, or who do not wish to disclose sensitive financial data on the internet.
“Available in over 650,000 outlets in nearly 50 countries worldwide, PaySafeCard enables easy and secure online purchases by cash, as payments are made either by using a 16-digit PaySafeCard PIN online or by scanning a Paysafecash Barcode at a Point of Sale. Customers do not need to share sensitive financial data such as bank account or credit card details.”
Speaking about the expansion, Udo Müller, CEO of paysafecard, the team behind Paysafecash at Paysafe, explained:
“Against the backdrop of the converging trends of cash loyalty and a rising need to transact online, we feel there is strong consumer demand in the U.S. for our Paysafecash™ solution. We’re proud to bring to the market an eCash product that will allow underbanked and unbanked Americans to participate in the digital economy and prevent financial discrimination against the cash consumer.”
Tim Richardson, Senior Vice President at InComm, which powers Paysafecash, went on to add:
“We’re excited to partner with Paysafe to expand our financially inclusive cash-in solution. This partnership will not only provide convenience for the end-user, it will also benefit our retail partners by driving in-store traffic.”
Founded in 1996, Paysafe claims to be a leading global provider of end-to-end payment solutions. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions.