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Press releases

Paysafecash launches in Latvia to enable online cash purchases

Apr 01, 2020

Riga, Latvia – Leading specialised payments platform, Paysafe, launches Paysafecash in Latvia today as a new secure and easy way to pay for online purchases in virtually any area of the retail space. Now available in 26 countries, Paysafecash is designed for consumers who do not have a bank account or credit card ─ or who do not want to disclose sensitive financial data on the internet. It is easy for consumers to use:

  1. The customer selects ‘Paysafecash’ as the payment method at checkout and loads the generated QR/barcode to their wallet.
  2. The code can be printed or sent to a mobile phone.
  3. Using the search function, the customer finds the nearest Paysafecash payment point. The QR/barcode is scanned by sales staff and payment is made.
  4. The online shop processes the order directly after payment and the goods are delivered. No customer account or credit card data is required and the payment is completely secure.

 

With a population of 1.8 million, internet usage in Latvia is at about 80%1. The eCommerce market is expected to continue growing steadily at an annual rate of 6.1% and the current user penetration of 65.8% is predicted to increase to 68.5% by 20242.

Paysafe has had a presence in Latvia since 2011 with its prepaid cash solution paysafecard. Paysafecash will leverage the existing distribution network of the leading retail franchise Narvesen with about 250 payment points, further increasing the availability of eCash across the country.

Udo Müller, CEO of paysafecard – the team behind the Paysafecash, said: “Paysafecash allows consumers who prefer paying by cash to participate in the world of eCommerce. We are pleased to offer this innovative and safe payment solution in Latvia. With this launch, we are meeting the needs of consumers who want to buy things online without disclosing their personal financial details, such as credit card or bank account information.”

Learn more: https://www.paysafecash.com/lv-lv/

(1) https://www.cia.gov/library/publications/the-world-factbook/geos/lg.html

(2) https://www.statista.com/outlook/243/142/ecommerce/latvia

 

About Paysafecash

Paysafecash, from leading specialised payments platform Paysafe Group, is an alternative payment method for customers who want to pay online easily and safely using cash. Available in more than 25 countries, Paysafecash makes online shopping possible for customers without a debit or credit card, or who do not want to use them for online payments. Payment is made by generating a barcode during the online checkout, which is scanned in person at a payment point. The purchase is completed and shipped when the amount due has been paid. Paysafecash was launched in 2018 by the same Paysafe team who created the award-winning, prepaid cash solution paysafecard, a global leader in the online prepaid payments industry founded in 2000.

About Paysafe Group

Paysafe Group (Paysafe) is a leading specialized payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, card issuing and online cash solutions. 

With over 20 years of online payment experience, an annualized transactional volume of over US $85 billion, and approximately 3,000 employees located in 12+ global locations, Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world.

Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments.

Visit us at www.paysafe.com.

For media inquiries

Sanna Raza, Corporate Communications Manager, DACH | sanna.raza@paysafe.com

+43 676 765 7202

Robert Bauer, asoluto public relations gmbH | presse@paysafecard.com
+43 1 533 36 53-60