- The new partnership will see Monese customers able to perform cash top-ups via Paysafe’s eCash function.
- The initial launch will take place in France, with more countries expected to join later.
- “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,” said a senior figure.
Two leading names in the finance field have announced a new partnership designed to help their customers gain better access to cash for international money transfers.
Banking service Monese and payment platform Paysafe will work together to offer millions of new customers the chance to add cash to their Monese accounts for easier transfers.
Customers of Monese, which has a five-figure number of in-person cash top-up designations in Britain alone, will now be able to use the eCash service from Paysafe.
This means that the number of top-up destinations around the world has significantly increased given Paysafe’s global reach.
According to a press statement released by Paysafe, the expanded service can be accessed at over 150,000 locations around the world.
“Monese customers can now conveniently add cash into their account by selecting Paysafecash as the top up method,” said Paysafe.
“This generates a barcode which they can take to a nearby Paysafecash payment point to make the payment in cash.”
The firm also said that it would begin the first phase of the new partnership in France.
However, there are plans afoot to start offering this in various European countries over time, including Bulgaria, Australia, Portugal and Germany.
According to Norris Koppel, who serves as the founder and CEO of Monese, the new partnership is an example of his firm “expanding our ability to offer a truly accessible service”.
“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,” he explained.
“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,” he added.
For paysafecard, which runs Paysafecash, CEO Udo Müller offered more information about the eCash network.
“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,” he said.
“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,” he added.
Paysafe, which describes itself as a “specialised payments platform”, launched Paysafecash in 2018.
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