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Paysafe partners with transcoin.me to enable cash funding for cryptocurrency exchange

By Joy Dumasia

January 21, 2022

  • Europe
  • FinTech
  • Neteller
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Cryptocurrency exchange transcoin.me has extended its cooperation with the leading specialised payments platform, Paysafe, to add a cash-based payment solution for buying cryptocurrency. Customers across Europe who prefer to use cash for online transactions can now use Paysafecash, one of Paysafe’s eCash solutions, to add cash into their transcoin.me a fiat account. Transcoin’s existing suite of payment methods already includes Paysafe’s digital wallets, Skrill and NETELLER. 

Transcoin.me is the first cryptocurrency exchange for offering cash funding via Paysafecash, with the partnership extending across 23 European countries. Customers in these countries can now select Paysafecash as the payment method for topping up their transcoin.me a fiat account. This generates a unique barcode for the transaction, which the customer can then take to a nearby payment point where the barcode is scanned at the point of sales terminal and payment is made in cash. 

Deniss Belaicuks, CEO of transcoin.me, commented, “transcoin.me is dedicated to providing a new standard for exchanging fiat to cryptocurrency. Partnering with Paysafe to offer a full suite of payment methods is an integral part of our ability to deliver on our mission. Extending these payment solutions to a cash-based service like Paysafecash significantly increases the reach of our cryptocurrency exchange by extending it to cash-reliant customers.” 

Udo Müller, CEO of Paysafe’s eCash division, added: “The rapidly growing decentralised finance economy is a focus for Paysafe and our suite of traditional and alternative payment solutions, including digital wallets and payment processing. We also see our eCash solutions as a great fit. The ability to use cash-funding for participation in the cryptocurrency exchange allows our cash-based customers access to the space as well as widening the reach of platforms like transcoin.me.” 

IBS Intelligence reported that Paysafe announced extending its partnership with Polish retail chain Zabka. With a chain of more than 7,700 convenience stores across Poland, Zabka already offers Paysafe’s prepaid eCash solution Paysafecard and will also provide a payment point for the company’s online cash solution, Paysafecash.

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