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Paysafe's viafintech partners with comdirect to offer expanded cash payment services
Jul 21, 2022
German direct bank, comdirect, leverages Barzahlen/viacash to offer cash deposits and withdrawals for current accounts
Berlin/Quickborn – viafintech GmbH, part of the leading specialised payments platform, Paysafe (NYSE: PSFE), announces a new partnership with comdirect, a German direct bank and Commerzbank AG brand. The collaboration enables comdirect customers to make cash deposits and withdrawals to and from their current account using Barzahlen/viacash, powered by Paysafe.
To use the service, comdirect customers simply select the cash feature in their mobile banking app and choose the exact amount they want to deposit or withdraw. This generates a unique barcode for the transaction, which is scanned at the point-of-sale terminal at one of viafintech’s 12,500+ acceptance points across Germany, such as Rewe, dm, Penny or Rossmann. Customers will then receive the amount or pay for the deposit in cash. No minimum purchase is required at the store.
Cash remains a popular means of payment in Germany. According to Paysafe’s recent Lost in Transaction study, 74% of Germans said they would be worried if they could no longer access cash and consumer advocates are lobbying for new legislation to guarantee the continued acceptance of cash by retailers.
Alena Kretzberg, Divisional Director, Digital Banking and comdirect, at Commerzbank AG, commented: “We are committed to adding new innovations which digitalise our services for the benefit of our customers. Our new integration of viacash is an excellent example of how we are expanding and enhancing our services to provide our customers with increased convenience and choice.”
“Cash management is often a challenge for customers of neobanks,” says Sebastian Seifert, Co-Founder and Managing Director of viafintech at Paysafe. “Certain occupations receive at least part of their wages, such as tips, in cash. Others often find it easier to keep track of their spending with cash. For both customer groups, cash deposits and withdrawals are essential, and we are pleased to partner with comdirect to offer its customers a convenient solution through the integration of Barzahlen/viacash."
Paysafe Limited (“Paysafe”) (NYSE:PSFE) (PSFE.WS) is a leading specialised 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, and online cash solutions. With over 20 years of online payment experience, an annualised transactional volume of US $120 billion in 2021, and approximately 3,500 employees located in 10+ global locations, Paysafe connects businesses and consumers across 100 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. Further information is available at www.paysafe.com.
viafintech connects retailers, corporations and consumers through its platform to deliver digital financial and value-added services. The powerful viafintech API connects businesses with more than 20,000 retail partner stores in Europe such as REWE, Rossmann, PENNY, Carrefour Italy and dm, ensuring a smooth and fully automated interaction between all stakeholders. The unique viafintech payment infrastructure enables various services such as cash withdrawals and deposits, bill payments, credit payouts, cashless payment methods, prepaid solutions such as gift cards and many more. viafintech is known for its brands Barzahlen/viacash in Germany and Austria and viacash in Switzerland, Italy, Greece and Spain. The company was founded in Germany in 2011 and is managed by Achim Bönsch, Sebastian Seifert and Andreas Veller. In November 2021 viafintech became part of the Paysafe Group.
comdirect was founded in 1994 as a subsidiary of Commerzbank. Since its merger with its parent company in November 2020, it has continued as a brand of Commerzbank AG. comdirect provides its more than 2.7 million customers (September 2019) with innovative and intelligent products and services so that they can carry out their banking transactions easily and conveniently, at any time and any place: comdirect is the bank on your mobile.
As a smart financial companion, comdirect focuses on the needs of an increasingly mobile and digital society when it develops new products and services. Being able to carry out financial transactions at any time and any place, easily and securely as well: That’s the goal. Whether it’s the award-winning comdirect app that allows transfers by voice command, award-winning online home loans or the digital insurance manager - banking and brokerage should be as quick, simple and convenient as possible.
As an online broker, comdirect offers simple solutions for saving, investing and trading with securities – available any time and any place. With products such as the robo-advisor cominvest, motif investing, a broad range of securities services and always good conditions, comdirect is right for both newcomers and experienced traders alike.
Ulrike Czekay, firstname.lastname@example.org