UK-based current accounts and money transfer services provider Monese has partnered with specialised payments platform, Paysafe, to offer cash services to its customers.
The partnership enables Monese consumers to top up their accounts directly with cash, through Paysafe eCash solution, dubbed Paysafecash.
Paysafecash is an alternative payment method designed for customers who wish to make easy and safe online payment using cash. The service is available at around 170,000 payment points in 28 countries, including US and Canada.
Paysafecash paysafecard CEO Udo Müller said: “The partnership between Monese and Paysafe reflects a collaboration between one of the most innovative banking services with a leading provider of alternative payment methods.
“Our eCash network is extremely well established and continually expanding, putting us in a unique position to be able to bridge the gap between digital banking and cash, which remains a cornerstone of the payment landscape in many countries.”
Monese customers can add cash through Paysafecash as top up method
With more than 40,000 cash top up locations in the UK, Monese is expected to increase its total number to more than 110,000 across Europe, through the new partnership.
The company said that its customers are now allowed to add cash into their account by selecting Paysafecash as the top up method, which generates a barcode that can be taken to the nearest Paysafecash payment point to make the payment in cash.
The partnership between Paysafe and Monese will begin its international roll out in France, with plans to expand to an additional 11 countries in the coming few months.
These additional countries include Austria, Belgium, Bulgaria, Germany, Italy, Luxembourg, the Netherlands, Poland, Portugal, Romania and Spain.
Monese founder and CEO Norris Koppel said: “Since the very beginning, our vision for Monese has been to create an inclusive and instant, on-demand way for people to manage their personal finances – without the restrictions that are imposed by so many traditional financial institutions.
“By partnering with Paysafe and including Paysafecash as a top up method, we are further expanding our ability to offer a truly accessible service and more freedom of choice to those customers who continue to rely on cash.”
In July last year, Monese partnered with PayPal to expand access to financial tools for its customers.
