Switzerland-based residents now able to settle bills using Paysafecash

Wednesday 23 June 2021 12:14 CET | News

Paysafe has announced the extension of its relationship with the fintech and financial intermediary company SweePay.

According to the press release, the new collaboration will allow Switzerland-based residents to settle bills using Paysafecash. The extended agreement follows SweePay’s launch of Paysafe’s 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 count, 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. 

Furthermore, to use Paysafecash to settle a bill, the consumer has to download the Paysafecash app and scans the QR code on the bill to get the Paysafecash barcode. Afterwards, by 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. Finally, SweePay processes the payment and settles the bill directly with the issuer. 

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Keywords: Paysafe, QR payments, partnership
Categories: Payments & Commerce | Online Payments
Countries: Switzerland
This article is part of category

Payments & Commerce