Repay Holdings, a specialist provider of vertically-integrated payment solutions, today announced a partnership with Paysafe to enable REPAY merchants to accept cash payments at over 60,000 of its retail partner locations.
The collaboration builds on Paysafecash online cash solution, with cash transactions being recorded as real-time payments.
“As REPAY continues to innovate, we aim to reduce the friction of the repayment process by offering convenient payment solutions for lenders and their borrowers,” stated Susan Perlmutter, Chief Revenue Officer, REPAY.
“Through our partnership with Paysafe, lenders on the REPAY platform will be able to accept cash within the REPAY ecosystem through the Paysafecash eCash solution, benefiting from real-time posting and streamlined reconciliation processes. Consumers can now easily access any Paysafe retail partner location and quickly pay their bill.”
Effectively offering opportunities for payers to use eCash helps to bridge the gap between cash and online payments, particularly for the large number of unbanked and under-banked Americans today.
Udo Müller, CEO of paysafecard, Paysafe’s eCash division, added: “Over 60 million Americans are still underbanked, according to the Federal Reserve, so offering consumers a way to pay loans and other bills via cash is essential in promoting financial inclusion. We understand how important it is to meet the payment preferences of the consumer, which are a critical aspect of the online transaction experience. We’re proud to partner with REPAY to enable lenders by equipping them with a cash payment option to meet the needs of their cash-reliant customers.”