16.01.2020

Paysafecash launches in Cyprus to enable online cash purchases

New eCash payment solution from Paysafe launches today

Nicosia, Cyprus, January 16, 2020 – Leading specialized payments platform Paysafe launches Paysafecash in Cyprus today as a new secure and easy way to pay for online purchases in virtually any area of the retail space. Paysafecash was developed by the same Paysafe team who created the award-winning, prepaid cash solution paysafecard, a global leader in the eCash industry.

Paysafecash, now available in 25 countries, 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’ in the online shop as the payment method 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.

While the eCommerce industry has been relatively small in Cyprus to date, both the Ministry of Energy, Commerce, and Industry (MECI) and the Office of the Commissioner of Electronic Communications and Postal Regulations (OCECPR) are promoting its adoption which is driving steady growth*. Household internet access in 2018 was 86 percent, a 7 percent increase from 2017, higher than the EU average of 82 percent and the world average of 56.1 percent.**

Paysafe has had a presence in Cyprus for more than ten years with its prepaid cash solution paysafecard, which is available at around 1,700 kiosks, supermarkets and other distribution outlets. Paysafecash will leverage this existing distribution network, further increasing the availability of eCash across Cyprus.

Udo Müller, CEO of paysafecard – the business behind the Paysafecash product, said: “Paysafecash allows consumers who prefer paying cash to participate in the world of ecommerce. We are pleased to offer this innovative and safe payment solution in Cyprus. 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. Leveraging our long-standing presence and an incredibly strong network of distributors in Cyprus enables us to offer Paysafecash to consumers throughout the country.”

Learn more: https://www.paysafecash.com/el-gr/ 

* www.export.gov/article

** www.export.gov/article

 

About Paysafecash

Paysafecash, from leading global payments provider Paysafe Group, is an alternative payment method for customers who want to pay online easily and safely using cash. Available in 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