Paysafecash, bringing cash to the internet launches in Mexico
By Pavithra R
Paysafecash from Paysafe, a new, alternative payment solution for customers who want to pay online easily and safely using cash, has announced its launch in Mexico.
Paysafecash enables consumers to pay securely with cash for financial services, utility or insurance bills, healthcare invoices, online purchases, and account replenishments for pre-paid services such as mobile phone monthly fees. Now available in 28 countries, Paysafecash is considered ideal for consumers who do not wish to share sensitive financial data over the internet for security reasons or those who do not have a bank account or a credit card.
To use Paysafecash:
- Customers need to select ‘Paysafecash’ as the payment method at checkout, which generates a barcode,
- Using the search function, the customer finds the nearest Paysafecash payment point. The barcode is scanned or entered by sales staff, and payment is made in cash.
- The online shop processes the order directly after payment is made, and then the goods are dispatched. No customer account or credit card data is required.
With a population of about 126 mn, Mexico currently has 85 mn internet users, which represent 63% of the country’s population above the age of six. The local eCommerce market value is expected to grow strongly from USD 16.939mn in 2020 to USD 21,815mn in 2024, and the number of eCommerce users is likely to amount to 73.7mn by 2024, an increase of 20% from 2020.
“Paysafe’s prepaid eCash solution, paysafecard, has been available in Mexico since 2010. I’m thrilled that, 10 years on, we are now offering Mexican consumers an additional alternative payment method which enables anyone to participate in the world of eCommerce. The growth of the eCommerce market in terms of users and revenue is very strong in Mexico and I’m excited to be part of the growth story for the second-largest economy in Latin America,” said Udo Müller, CEO of Paysafecard, the team behind Paysafecash.
Launched in 2018, Paysafecash is a new, alternative payment method that makes it possible to pay securely and efficiently with cash on the Internet.
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage