Global payment provider Paysafe announced the launch of its online Paysafecash solution in Mexico as an alternative payment method for customers who want to use cash to make online purchases instead of cards or bank accounts.
Through a barcode scanned at a payment point provided by the platform, customers of online retail stores who select this payment option and do not want to disclose their financial information over the Internet can You can purchase your products quickly, flexibly and safely.
The code can be saved on a mobile device or printed out. This code is scanned by the sales staff to quantify the amount to be paid in cash by the user to the points linked to the Paysafe platform.
Once payment has been made, the online store will process the order immediately after payment and the goods will be sent to the address provided by the user.
This solution can be accepted at 3,000 payment points in Mexico, according to the company’s official statement, including popular outlets in the country such as Farmacias del Ahorro, Extra, Circle K and K.
According to the company, they aim to be present at more than 8,000 payment points by the end of 2020.
Paysafecash is currently available in more than 28 countries and with an estimated e-commerce growth for the Aztec country of 20% since 2020 over the next four years. The company does not want to miss the opportunity to be present among the billions of dollars expected as income only for the local market of this activity.
Paysafecash’s electronic cash payment solution was introduced by the company in 2018 and is part of Paysafecard’s global transaction volume of over 98 billion US dollars. The company operates in around 40 different currencies from around the world and connects businesses and consumers through more than 70 types of online payments.
Fintech growth in Mexico
In June last year, Cointelegraph explained the importance of fintech growth in the Aztec country, which, according to the company Legal Paradox, reflects a cumulative expansion rate of 90% in two years.
With more than 63% of the country’s population having internet access and a booming economy struggling to be the first in Latin America and proximity to the world’s major economy, it’s no surprise that great Mexican talent is a benchmark in the world is. Market related to the financial technologies and blockchain sector, as verified by Paradox.
According to this company, the ‘Payments’ “Payments” is the fourth largest segment on the FinTech Tour map of the Latin American country. For this reason, it is not surprising that in the coming years more and more solutions such as Paysafecard will be introduced in the Latin American country in order to take center stage in an important local market niche.