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Swiss residents now able to settle bills using Paysafecash
Jun 23, 2021
As paying by cash remains popular in Switzerland, extended partnership with Paysafe sees SweePay offer an additional cash option to its customers
Zurich, Switzerland: Leading specialised payments platform, Paysafe (NYSE: PSFE), today announces the extension of its relationship with the fintech and financial intermediary company SweePay. The new collaboration will allow Swiss residents to settle bills using Paysafecash, a leading online cash solution. The extended agreement follows SweePay’s launch of Paysafe’s popular prepaid solution – paysafecard – as a payment option in 2015.
Switzerland introduced QR-code-based bill payments in the summer of 2020 with a plan to make this payment method mandatory in the future, aiming to streamline the processing of bills for companies, governmental entities and non-profits and make it easier and more convenient for consumers. With cash remaining the most widely used payment instrument in Switzerland at 45 % in terms of transaction count1, including Paysafecash as an option for bill payments provides consumers with a wider range of payment solutions and caters to those who prefer to pay using cash.
Using Paysafecash to settle a bill is easy and secure for the consumer:
- The customer downloads the Paysafecash app and scans the QR code on the bill to get the Paysafecash barcode.
- Using the maps function, the customer finds the nearest of approximately 2,000 Paysafecash payment points where the barcode is scanned and payment is made.
- SweePay processes the payment and settles the bill directly with the issuer.
Udo Müller, CEO of paysafecard, the team behind Paysafecash, said: “Our collaboration with SweePay offers a crucial service to people in Switzerland. Our strategy of enabling cash payments caters to customers who are cash reliant or simply prefer to use cash.”
Rodolphe Texier, CEO SweePay, added: “The Swiss love having the freedom to choose their preferred payment method and we are proud to partner with Paysafe to offer them an additional payment solution for bills; especially since Paysafecash enables them to pay in cash, which is still the most popular way to pay here in Switzerland. We are looking forward to our continued collaboration with Paysafe.”
1 Source: Swiss Payment Monitor 2020
Paysafecash, from leading specialised payments platform Paysafe, is an eCash payment method for customers who want to pay online easily and safely using cash. Available in nearly 30 countries, Paysafecash makes online transactions possible for customers, who do not have a debit or credit card, or who do not want to use them online. Payments are made by generating a barcode during the online checkout, which can then be scanned and paid for in person at one of more than 190,000 payment points. Paysafecash was launched in 2018 by the same Paysafe team who created the award-winning, prepaid cash solution paysafecard in 2000. A market leader in eCash payment solutions, paysafecard allows customers to buy prepaid vouchers that they can then redeem online.
About Paysafe Limited
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 annualized transactional volume of US $92 billion in 2020, and approximately 3,400 employees located in 12+ global locations, Paysafe connects businesses and consumers across 70 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.
SweePay AG, a financial intermediary and innovative FinTech company based in Zug (Switzerland), specialises in the payment and distribution of digital products. SweePay AG offers services for distribution networks and merchants. Since 11 November 2016, SweePay AG has been responsible for the distribution and management of Bitcoins at SBB ticket machines. https://sweepay.ch/
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