Paysafecash launches in Mexico today as an alternative payment method for customers who want to pay online easily and safely using cash.
The eCash solution was developed by paysafecard, part of the leading specialised payments platform Paysafe. Now available in 28 countries, Paysafecash is ideal for consumers who do not wish to share sensitive financial data over the internet for security reasons or those who do not have a bank account or a credit card.
To use Paysafecash:
1. The customer selects ‘Paysafecash’ as the payment method at checkout, which generates a barcode.
2. The code can be stored on your mobile device or printed.
3. Using the search function, the customer finds the nearest Paysafecash payment point. The barcode is scanned or entered by sales staff and payment is made in cash.
4. The online shop processes the order directly after payment is made and then the goods are dispatched. No customer account or credit card data is required and the payment is completely secure.
Paysafecash is starting with close to 3,000 payment points in Mexico including popular retail outlets such as Farmacias del Ahorro, Extra, Circle K and K. Our aim is to be present in more than 8,000 payment points by the end of the year.
With a population of about 126 million, there are currently 85 million internet users in Mexico, which represent 63% of the country’s population above the age of six1. The value of the local eCommerce market is expected to grow strongly from USD 16.939m in 2020 to USD 21,815m in 2024, and the number of eCommerce users is expected to amount to 73.7m by 2024, an increase of 20% from 20202.
Udo Müller, CEO of paysafecard - the team behind Paysafecash, said: “Paysafe’s prepaid eCash solution, paysafecard, has been available in Mexico since 2010. I’m thrilled that, 10 years on, we are now offering Mexican consumers an additional alternative payment method which enables anyone to participate in the world of eCommerce. The growth of the eCommerce market in terms of users and revenue is very strong in Mexico and I’m excited to be part of the growth story for the second largest economy in Latin America.”