Paysafe rolls out online cash payments solution in Bulgaria

Tuesday 7 July 2020 12:51 CET | News

UK-based payment service provider Paysafe has launched its Paysafecash solution in Bulgaria to enable online retail cash purchases. 

According to LeapRate, Paysafecash is available in 28 countries and is designed for consumers who do not have a bank account or credit card, or who do not wish to disclose sensitive financial data on the internet. Therefore, the Paysafecash functionality enables customers to generate a barcode at checkout and find the nearest Paysafecash payment point through the search function. Afterwards, they have their barcode scanned by sales staff and the payment is made in cash.

Furthermore, Paysafecard, Paysafe’s prepaid payment method, will be distributed in partnership with EasyPay, which has a network of more than 300 payment points.

Overall, the ecommerce market is expected to grow with an annual rate of 15.9% from 2020 to 2024 and Bulgaria has a population of 7 million with 60% internet usage. Consequently, the current user penetration of 40% is predicted to increase to 55.3% by 2024. 

Moreover, a recent research highlights that Bulgaria-based consumers still prefer to buy products online via cash, while 50% of the people would shop online more often if they were able to pay with cash. Therefore, solutions like Paysafecash might help consumers to continue to use their preferred payment method while shopping online.

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Keywords: Paysafecash, Paysafe, Bulgaria, checkout, barcode, cash payments, EasyPay, prepaid payment method, ecommerce, online shopping
Categories: Payments & Commerce
Countries: Bulgaria
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Payments & Commerce

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