With society shifting to a more dominant digital payment ecosystem, CashtoCode is emphasising the importance of cash payments for multiple countries.
CashtoCode has rapidly expanded into over 300,000 retail locations in 10 countries for the first time, giving merchants instant access to cash across countries in Latin America, Africa and Asia.
Despite the accelerating transition into digital-based payments, enhanced by the COVID-19 pandemic, CashtoCode has realised the importance and influence that cash payments still have in certain countries.
The firm aims to serve people who benefit from cash payments, whether that be paying for online entertainment, social networks or gaming. The cash payment service reaches out to retail merchants such as 7-Eleven in Mexico, Santander in Brazil and Western Union in The Philippines.
“This rapid expansion of our global footprint offers some big benefits to merchants and customers alike,” stated CashtoCode CEO, Jens Bader.
“Cash deposits have always proven to be an effective driver of incremental revenue, and many digital entertainment providers are exploring new ways of adding cash to their payments ecosystem.”
CashtoCode has seen growth over the past 18 months, despite the behavioural effects of COVID-19.
With the ‘biggest increase to its global footprint to date’, CashtoCode has branched out into Europe, Nigeria and Australia over those past 18 months.
Bader concluded: “This expansion gives existing merchants the ability to immediately tap into a diverse mix of cash-centric countries and emerging markets.
“For customers who like cash, our service is secure, reliable and easy to use, and will fill a gap in the market for simple and accessible payment options.”
