Paysafe Waives Processing Fees for US SMBs

Paysafe, a leading specialized payments platform, announced the launch of a campaign in the U.S. that will see it waive $1 million of collective processing fees for small and medium businesses (SMBs) that sign up with Paysafe as new customers. 

Emphasizing Paysafe's focus on the long-term success of SMB retailers, the campaign's launch has been timed to coincide with National Small Business Week, which takes place this year from September 13th to 15th. 

The new promotion also represents Paysafe's latest effort to leverage its payments expertise to help SMBs address an array of increasingly predominant challenges. Several of these are reflected in a recent survey on the state of small businesses in the U.S., which stresses the need for innovative payments solutions for SMBs. In identifying the most prevalent hurdles to their banking experience during the pandemic, 47% of SMB owners cited high fees as their chief pain point, while 40% highlighted a lack of customization for SMB needs.

Afshin Yazdian, CEO of U.S. Acquiring at Paysafe, said: "This campaign highlights Paysafe's ongoing and growing commitment to designing creative and strategic solutions that support the long-term growth of SMBs in the U.S. We're very excited to offer an initiative that will positively impact hundreds of businesses facing uncertain times and evolving consumer preferences and habits."

Fazzaco recently reported that Dutch Challenger Bank bunq has partnered with Paysafe to provide customers with access to cash services​. Customers who prefer to use cash in their daily lives can now use Paysafecash, one of Paysafe's eCash solutions, to conveniently add cash into their bunq accounts.