IntelliPay, which provides intelligent cloud-based payment platform and alternative payment models, has partnered with Paysafe to provide online cash payments in the US.
The firm has been a Paysafe payment processing partner since 2015.
It will now add Paysafe’s online cash solution, Paysafecash, as an alternative payment method to its platform.
The move will allow consumers without bank accounts to pay bills online by generating an online barcode, which can either be stored digitally or printed.
They can then complete the payment with cash by visiting a nearby Paysafecash payment location such as a convenience store, pharmacy, or dollar store.
Paysafecash is said to have 60,000 payment points throughout the US.
According to Paysafe’s eCash division CEO Udo Müller, the collaboration will allow more US consumers to pay their bills online, even if they do not have a bank account.
A recent data from the Federal Reserve indicate that 22% of US adults are either underbanked or unbanked. The data also revealed that 43% of Americans making less than $40,000 a year were denied credit requests in 2019.
Müller said: “Like IntelliPay, we passionately believe that we need to improve financial inclusion in our society, something which has become increasingly important as a result of the pandemic.”
Commenting on the development, IntelliPay CEO Casey Leloux added: “Integrating Paysafecash into our IntelliPay Platform will provide a greater service to our merchants’ customers who want to pay online, but still use cash.
“Expanding payment options and empowering our merchants to accept all payment methods will provide a better payment experience for their customers and help our merchants automate their receivables.”
In April this year, Paysafe signed a global multi-year agreement with Amazon Web Services to move online payments processing to the cloud.