NASDAQ OMX

Paysafe launches Paysafecash - the ground-breaking new payment solution for the 'cash consumer'

Dela

Innovative solution from the global payments leader offers online shoppers an easy and ultra-safe online payment option

LONDON, June 04, 2018 (GLOBE NEWSWIRE) -- Leading global payments provider, Paysafe, today announces the global launch of its latest alternative payment solution - 'Paysafecash'. The pioneering and ultra-safe online cash payment option has been designed to cater for the sizeable number of online shoppers around the world who still prefer to pay by cash. Recent data indicates that despite the enthusiastic uptake of electronic payments by many, numerous online shoppers are growing increasingly concerned that online shopping all too frequently results in financial fraud and data breaches.

Developed by the same Paysafe team who created the award-winning, pre-paid cash solution -paysafecard, a global leader in the online prepaid payments industry - the launch of Paysafecash forms part of Paysafe's disruptive strategy of delivering an unrivalled suite of safe, frictionless and relevant payments products around the world.   

Paysafe drew on both industry and proprietary research when developing the new cash product.  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 billioni adults in the world are still unbanked. Even in highly developed regions such as the European Union, over 57 millionii adults do not have bank accounts and 68%iii of transactions are still paid for using cash. In the UK, for example, despite the extensive usage of contactless payments, the number who rely almost entirely on cash has jumped by 500,000 to 2.7 million over the past two years according to data by Payments UK and the Bank of England. Fraud concerns and data security are often cited as a major reason for not wanting to share bank account or credit/debit card details online.

Unlike other online cash solutions in the marketplace today, Paysafecash offers a number of unrivalled and unique benefits. It's the first online cash solution that can be used to upload funds into digital wallets, including Paysafe's own popular digital wallets, Skrill and NETELLER. This means that Paysafe can now offer consumers who want it, an entire payments ecosystem running on cash, totally negating the need to have a bank account or share financial data online.

Additionally, with Paysafecash, shoppers can pay in exact amounts for the purchases they are making, rather than being forced to round up the amount to a fixed voucher denomination which is typically the only 'cash' option offered to date by online retailers. 

This is how easily payment works with Paysafecash:

1. Generate barcode
The customer selects "Paysafecash" in the online shop as the payment method, loads the generated QR/barcode to his wallet, sends it to his mobile phone or prints it out.

2. Find payment point
Using the search function, the customer finds the nearest Paysafecash payment point.

3. Scan & pay
The customer has the QR/barcode scanned by sales staff in a payment point and pays the amount due. The online shop processes the order directly after payment.

The product launch also ties into Paysafe's new brand positioning of being the 'new Big' in the global payments industry as outlined in its recently re-vamped website and its 'Plug into Paysafe' global marketing campaign.  As part of the Plug into Paysafe campaign, the payments provider is publishing the next iteration of its latest international study 'Lost in Transaction: Payment Trends 2018' this week. The new study reveals that 63% of consumers said they feel more comfortable purchasing online via a payment option where their financial details are not shared.  A further study by CyberCorp showed that websites offering four or more payment options, in addition to credit cards, have a 12% higher conversion rate than online retailers only offering one alternative. 

According to Udo Müller, Paysafe's CEO behind the product, Paysafe is focused on offering these much-needed additional payment options for online shoppers. He believes Paysafecash has the potential to drive millions of additional shoppers online representing a true growth driver for digital shopping and online retailers. 

Müller commented: "Every day in the news we read about fraud and data breaches, often impacting well-known and established online retailers, so nobody is immune to the risks of sharing their account or card data online.  On top of that, there are still significant tranches of our global population who remain unbanked and don't possess payment cards of any description.  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 14 countries including Austria, Spain, Italy, Portugal, Hungary, the UK and Canada.  Plans are underway to extend its availability in an additional 32 markets, including the US, by the end of the year.

For more information about Paysafecash, visit www.paysafecash.com 

NOTES TO EDITORS:
Sources: 
iWorld Bank Report, 2015
iiWelfare Society Territory, 2013
iiiFungglobalretailtech.com

Paysafe at Money 20/20, Amsterdam, The Netherlands:

  • The team behind Paysafecash will be showcasing the new solution at Money 20/20 in Amsterdam.  Visit stand E70 to see a demo and learn more about it.
  • On day three of Money 20/20, Paysafe will be launching  Lost in Transaction: Payment Trends 2018

About Paysafe

Paysafe 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 and online cash solutions. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between bricks-and-mortar and online payments. With over 20 years of online payment experience, a combined transactional volume of US $56 billion in 2017 and over 2,600 staff located in 12 global locations. Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world. For more information, visit www.paysafe.com.  Follow Paysafe on Twitter / LinkedIn / Google + / stories.paysafe.com

For Media Inquiries:
Kate Aldridge: Vice President, Corporate Communications, Paysafe Group
Office: +44(0)203 934 9197 or Mobile +44(0)750 079 7547

E-Mail: Kate.Aldridge@paysafe.com
 



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Paysafe Group via Globenewswire

Om

NASDAQ OMX
NASDAQ OMX



Följ NASDAQ OMX

Abonnera på våra pressmeddelanden.

Senaste pressmeddelandena från NASDAQ OMX

LeoVegas applies for gambling licence in Sweden20.8.2018 12:05Pressmeddelande

On January 1, 2019, Sweden becomes a licensed gaming market and LeoVegas has now submitted its application to obtain a licence for casino and sports betting. This is in line with LeoVegas' expansion strategy and is one of the steps towards achieving the financial targets for the year 2020, which are to reach at least EUR 600 m in revenue and EBITDA of at least EUR 100 m. "While it has been known for some time that Sweden is introducing a local licence system, it is very exciting to formally submit an application and is something we have been looking forward to for a long time. Sweden's becoming a locally regulated market is a milestone for Sweden, the industry and LeoVegas. Now, for the first time, everyone can compete on equal terms in a regulated environment, where responsible gaming is a very important part. We believe we have great opportunities to continue gaining market shares in the Swedish market. LeoVegas is a company that operates on several regulated markets and thus has the

LeoVegas ansöker om spellicens i Sverige20.8.2018 12:05Pressmeddelande

Den 1:a Januari 2019 blir Sverige en licensierad spelmarknad och LeoVegas har nu lämnat in sin licensansökan för casino och sportspel. Detta ligger i linje med LeoVegas expansionsstrategi och är ett av stegen för att uppnå de finansiella målen år 2020 om minst 600 MEUR i intäkter och minst 100 MEUR i EBITDA. "Att Sverige inför ett lokalt licenssystem har varit känt en längre tid men att formellt lämna in ansökan känns oerhört bra och någonting vi sett fram emot länge. Att Sverige äntligen blir en reglerad marknad är en milstolpe för Sverige, branschen och LeoVegas. Nu kan alla för första gången konkurrera på lika villkor i en reglerad miljö, där ansvarsfullt spelande är en väldigt viktig del. Vi anser oss ha stora möjligheter att fortsätta ta marknadsandelar på den svenska marknaden. LeoVegas är ett bolag som opererar på flera reglerade marknader och har därmed de rätta verktygen och kunskapen för att skapa en hållbar och stark tillväxt.", säger Gustaf Hagman, Group CEO. Reglerade mark

Stillfront Group AB: Stillfront Group rekryterar IR- och kommunikationschef20.8.2018 08:30Pressmeddelande

PRESSMEDDELANDE 2018-08-20 Stillfront Group rekryterar IR- och kommunikationschef Sofia Wretman har utsetts till IR- och kommunikationschef för Stillfront Group och kommer att ingå i koncernledningen. Befattningen är ny och omfattar intern och extern kommunikation samt investor relations. Sofia Wretman har mer än 15 års erfarenhet av att arbeta strategiskt med kommunikations- och IR-frågor inom olika branscher. Tidigare positioner inkluderar bland annat IR- och kommunikationschef på Alimak Group, seniorkonsult på Hallvarsson & Halvarsson och kommunikationsansvarig på SAS Institute. "Vi är glada att välkomna Sofia till Stillfronts ledning. Sofia blir ansvarig för koncernens kommunikation, internt och externt samt investor relations. Rekryteringen av Sofia och tillsättningen av denna tjänst, som är ny, är ett led i bolagets planerade listbyte till Nasdaq Stockholms huvudlista. Denna satsning är också viktig då gruppen sedan noteringen på First North 2015 har vuxit med flera stora förvärv

Stillfront Group AB: Stillfront Group announces Head of IR & Communications20.8.2018 08:30Pressmeddelande

PRESS RELEASE 2018-08-20 Stillfront Group announces Head of IR & Communications Sofia Wretman has been appointed as Head of IR & Communications and will be part of the Group's management team. The position is new and covers both internal and external communications as well as investor relations. Sofia Wretman has more than fifteen years of experience of strategic communication and investor relations from a range of industries. Former positions include Head of IR & Communications at Alimak Group, Senior Consultant at Hallvarsson & Halvarsson and Communications manager at SAS Institute. "We are pleased to welcome Sofia as member of the management team. Sofia will be responsible for internal and external communications as well as investor relations. The recruitment of Sofia and the appointment of this new role is part of the Group's planned move to the main market of Nasdaq Stockholm. The recruitment is also important as the Group since its listing at First North in 2015, has grown rapidl

BIMobject AB: Kallelse till extra bolagsstämma den 5 september 2018. Patrick Söderlund och Hjalmar Winbladh föreslås som nya styrelseledamöter i BIMobject AB. Split 2:1 föreslås.15.8.2018 15:30Pressmeddelande

Aktieägare representerande cirka 49 procent av rösterna i BIMobject AB har meddelat att de föreslår att Hjalmar Winbladh och Patrick Söderlund väljs till nya styrelseledamöter vid en extra bolagsstämma onsdagen den 5 september 2018. Ben O'Donnell lämnar sitt uppdrag som styrelseledamot i samband med den extra bolagsstämman. Styrelsen kommer därefter att bestå av Stefan Larsson (VD), Anders Wilhjelm (ordförande), Johannes Reischböck, Philippe Butty, Hjalmar Winbladh och Patrick Söderlund. Vidare föreslås ändrad ersättning till styrelsen. Nytt arvode utgår med 800 000 kronor, fördelat mellan styrelseordförande och Söderlund om 400 000 kronor vardera. Styrelsen föreslår även att stämman beslutar om aktieuppdelning av befintliga utestående aktier i förhållande 2:1. Patrick Söderlund, född 1973 och svensk medborgare, är Chief Design Officer samt Executive Vice President på Electronic Arts. I denna roll leder han utvecklingen av bolagets tekniska innovationer och bolagets marknadsföringsteam

BIMobject AB: Notice to attend Extraordinary General Meeting on September 5, 2018. Patrick Söderlund and Hjalmar Winbladh proposed as new Board Members in BIMobject AB. A split 2:1 is proposed.15.8.2018 15:30Pressmeddelande

Shareholders representing approximately 49 percent of the votes in BIMobject AB have announced that they propose that Hjalmar Winbladh and Patrick Söderlund are appointed new Board Members at an Extraordinary General Meeting to be held on Wednesday September 5, 2018. Ben O'Donnell resigns as Board Member in connection with the Extraordinary General Meeting. The Board will thereafter be composed of Stefan Larsson (CEO), Anders Wilhjelm (Chairman), Johannes Reischböck, Philippe Butty, Hjalmar Winbladh and Patrick Söderlund. Furthermore, a change in remuneration to the Board is proposed. The new Board fee totals SEK 800,000 and is to be divided between the Chairman and Söderlund with SEK 400,000 each. The board also proposes that the General Meeting resolves to split the company's shares 2:1. Patrick Söderlund, born in 1973 and a Swedish citizen, is Chief Design Officer and Executive Vice President at Electronic Arts. In his present role he manages the development of technology innovation

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum