Paysafe launches Paysafecash in US to enable online cash payments

Paysafe, a leading integrated payments platform, announced that it has launched Paysafecash in the U.S., an alternative payment method for consumers who want to pay online easily and safely using cash. The U.S. eCash solution is powered by the Vanilla Direct payment network of InComm Payments, a leading global payments technology company.

With the ongoing U.S. issue of financial inclusion and cash's enduring importance in the market, Americans not able, or wanting, to make credit or debit card payments online can now access Paysafecash, which was first launched in 2018 and is now live in almost 30 global markets.

The solution will particularly appeal to the 22% of U.S. households that are either underbanked or unbanked, according to research from the Federal Reserve. With no need of a bank account or to share sensitive financial information over the internet, Paysafecash allows all Americans to transact online, including to pay their rent and government bills, access a diverse range of other digital financial services, and engage in eCommerce.

​Consumers favoring cash can use Paysafecash at participating websites by simply selecting the brand as the payment method at the online checkout, producing a barcode that can be stored on their mobile device or printed.

Cash payments can then be made at brick-and-mortar stores in InComm Payments' Vanilla Direct network, encompassing more than 60,000 U.S. retail locations including 7-Eleven®, Dollar General, Family Dollar, and a range of other branded convenience stores and pharmacies. Once the consumer's barcode is scanned and the balance paid in cash, the payment is completed. No Paysafecash customer account is needed to make a transaction.

Udo Müller, CEO of paysafecard, the team behind Paysafecash at Paysafe, said: “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, commented: “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.”