07 2018 | NEWS

 11 Billions of people around the world prefer to pay by cash. The new product was designed to serve those who want to do so online. © Shutterstock

Paysafecash now live in 16 markets

paysafecard has just launched another ultra-safe payment option. Paysafecash will allow e-Commerce merchants to access new customer groups.

Paysafecash has been designed to serve the sizeable number of online shoppers around the world who still prefer to pay by cash. Using Paysafecash, a product or service can be ordered online and paid directly in cash at the nearest Paysafecash payment point by scanning a QR/barcode. Contrary to popular belief that all ­online goods are purchased using credit or debit cards or other digital methods, market data indicates that around two billion adults in the world are still unbanked. Even in highly developed regions such as the European ­Union, 130 million people do not have sufficient access to bank services to participate in e-Commerce and 68% of transactions are still paid for using cash.

Udo Müller, paysafecard's CEO, believes Paysafecash has the potential to drive millions of additional shoppers online representing a true growth driver for digital shopping and online retailers. "Every day in the news we read about fraud and data breaches. On top of that, there are still ­significant tranches of our global population who ­remain unbanked. So we know there is a substantial need to ­provide a flexible and safe online cash solution to help both consumers and retailers overcome these hurdles."

Müller continued: "When developing Paysafecash, we wanted to create a pioneering cash solution that challenged other digital payment products out there and ­Paysafecash offers some truly unique features such as being the only cash solution that can be used to load funds into digital wallets. This is another industry first for Paysafe and reinforces our track record of challenging the status quo to meet the unmet payment needs of both consumers and retailers."

Paysafecash is already live and proving popular amongst shoppers in 16 countries including Austria, Spain, Italy, Portugal, Hungary, the UK and Canada. Plans are underway to extend its availability in 27 markets, including the US, by the end of the year. For more information about Paysafecash visit www.paysafecash.com