Leading in-store payments technology provider PayPoint has partnered with Paysafecash, a popular online cash solution to bring online cash payments to the UK.
Through this partnership, Paysafecash, which was developed by Paysafe Group, a leading global payments provider, will be an available payment option at 28,000 PayPoint sites across the country. The news comes as the two companies have signed a new multi-year agreement, extending a relationship that has spanned over a decade.
Paysafecash is an alternative payment method for customers who want to pay for online purchases easily and safely using cash. It makes online shopping possible for customers without a debit or credit card, or who do not want to use them for online payments for security reasons.
Paysafecash is easy and free for consumers to use:
1. The customer selects ‘Paysafecash’ as the payment method with the online retailer or service provider and receives a Paysafecash barcode.
2. The barcode can be printed, forwarded by e-mail or SMS, or stored in a mobile wallet application on a smartphone.
3. Using the search function online or in the Paysafecash app, the customer finds the nearest partner store. The barcode is scanned by sales staff and payment is made.
4. The online retailer or service provider processes the order directly after payment and the goods are delivered. No customer bank account or credit card data is required and the payment is completely secure.
Since its launch in June 2018, Paysafecash has grown to provide the biggest online cash payment network worldwide. It is available in 29 countries and at approximately 100,000 point of sale outlets. Over 99% of consumers in the UK are based within 1 mile of a local PayPoint store in urban locations.
Bank notes and coins remain a necessity for eight million people in the UK according to the Access to Cash review released earlier this year, and the UK ecommerce market is growing steadily, reaching £137.38bn in value last year, according to data from the Office of National Statistics.
Commenting on the partnership, Lewis Alcraft, Chief Commercial Officer at PayPoint, said: “There remains a demand for cash payments in the UK and innovations such as Paysafecash help us to meet this consumer need. Through propositions such as Collect+ and Paysafecash, our retailer partners are ideally placed to benefit from the popularity of online shopping and make the process more convenient for customers. We’re continually looking to introduce innovative solutions such as this to help our retailers better serve their communities.”
Udo Mueller, CEO of paysafecard the business behind the Paysafecash product, added: “We are committed to bringing the benefits of cash payments for online shopping to the UK and offering consumers multiple ways to pay through our range of payment methods at Paysafe. Our partnership with PayPoint allows us to offer consumers across the country who rely on cash or who do not wish to share their financial details online the ability to participate in the UK’s growing e-commerce space. Our mission is to enable everyone to participate in eCommerce, independent of their access to digital payment options.”
In thousands of retail locations, at home and on the move, we make life more convenient for everyone. For retailers, we offer innovative and time-saving technology that empowers convenience retailers in the UK and Romania to achieve higher footfall and increased spend so they can grow their businesses profitably. Our innovative retail services platform, PayPoint One (paypoint.com), is now live in over 14,000 stores in the UK and offers everything a modern convenience store needs, from parcels and contactless card payments to EPoS. Our technology helps retailers to serve customers quickly, improve business efficiency and stay connected to their stores from anywhere.
We help millions of people to control their household finances, make essential payments and access in- store services, like parcel collections and drop-offs. Our UK network of 28,000 stores is bigger than all banks, supermarkets and Post Offices together, putting us at the heart of communities nationwide. For clients of all sizes we provide cutting-edge payments technologies without the need for capital investment. Our seamlessly integrated multichannel payments solution, MultiPay, is a one-stop shop for customer payments. PayPoint helps over 500 consumer service providers to save time and money while making it easier for their customers to pay via any channel and on any device.
Paysafecash (paysafecash.com), from leading global payments provider Paysafe Group, is an alternative payment method for customers who want to pay online easily and safely using cash. Available in almost 30 countries, Paysafecash makes online shopping possible for customers without a debit or credit card, or who do not want to use them for online payments.
Payment is made by generating a barcode during the online checkout, which is scanned in person at a payment point. The purchase is completed and shipped when the amount due has been paid. Paysafecash was launched in 2018 by the same Paysafe team who created the award-winning, prepaid cash solution paysafecard, a global leader in the online prepaid payments industry founded in 2000.
About Paysafe Group (Paysafe)
Paysafe Group (paysafe.com) is 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, card issuing and online cash solutions.
With over 20 years of online payment experience, an annualized transactional volume of over US $85 billion, and approximately 3,000 employees located in 12+ global locations, Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world.
Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments.
Steve O’Neill - Marketing Director, PayPoint
M: +44(0)17 0760 0440 - E: steveoneill[.]paypoint.com.
PayPoint Press Office: MHP Communications
M: +44(0)20 3128 8100 - E: paypoint[.]mhpc.com.