FinXP has confirmed a new strategic partnership with CashtoCode, the instant cash payment service for online merchants.
The collaboration allows FinXP merchants to efficiently embrace CashtoCode as a new payment option and start accepting cash payments for online goods and services from more than 150,000 physical locations worldwide.
Jens Podewski, CEO of FinXP, commented: “The payments industry is very crowded and it is filled with me-too products that end up competing on price. At FinXP, we are applying our long experience in the industry to identify previously unseen opportunities that allow us to add value in new ways. Innovation is key, and therefore we are proud to work alongside CashtoCode who share a philosophy similar to ours.”
“We’ve seen a surge in demand for cash payments for online goods, and there is a community of people who will always prefer to pay by cash wherever and whenever possible,” said Jens Bader, CashtoCode CEO. “FinXP is a fantastic platform and the benefits of this partnership will be felt in many places. It offers us a great new route to market and broadens FinXP’s payment options
even more. It will help hundreds of merchants to start accepting cash payments ASAP and give customers who prefer cash an alternative and secure way to pay for their favourite digital products and services.”
The collaboration will also come together for future fintech innovations, as they seek to combine expertise to enhance the payment journey for consumers and partners.
Further details will be announced later in 2021, but customer-specific challenges being explored include smart usage of virtual IBANs, engagement and loyalty schemes, and an instant customer payment feature that requires zero technical effort from merchants.