Paysafe extends partnership with ZEN.COM to bridge the gap between cash and digital banking

Leading integrated payments platform, Paysafe (NYSE: PSFE), today announces that it has extended its partnership with payments provider ZEN.COM. Paysafe’s eCash solution, Paysafecash, can now be used by individual customers as well as business clients across 25 countries in Europe to make fast and secure cash deposits into ZEN.COM’s virtual wallets.

After selecting Paysafecash as the top up method in the ZEN.COM mobile app, the customer chooses how much cash to deposit into their account and generates a unique barcode for the transaction. The barcode doesn’t have to be used straight away – the customer has 72 hours to proceed further. Within this time, customer can go to a nearby payment point, which in case of Romania can be found in self-vending machines, such as Zebrapay, Kiwi, PayPoint, scan the barcode at the point of sale terminal and make the payment in cash. The deposited amount will be credited to ZEN.COM’s virtual wallet within minutes. The wallet can manage accounts in 30 currencies and can be used for money transfers, currency exchange and as a payment card. What’s more, thanks to an IBAN number, the wallet can complement the traditional bank account or replace it entirely.

ZEN.COM’s integration of Paysafecash provides a highly sought-after cash loading option for digital banking customers in the following 25 countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, France, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland and the UK.

Today’s announcement is the latest development in an ongoing collaboration between the two companies. ZEN.COM’s business clients already have the option of accepting payments via Paysafe’s leading prepaid solution paysafecard and digital wallet Skrill. Furthermore, paysafecard has been enabled for wallet loading and there are also plans for further integrations of Paysafe’s payments solutions.

Michał Bogusławski, Commercial Director of ZEN.COM commented, “The financial services industry and the consumer needs within it are changing on a daily basis. However, the general trends give us a clear indication that consumers are looking for simplicity in addition to security. In order to fulfil these needs, innovation and cooperation between industry players is key. At ZEN.COM, we strive to cater to both businesses and customers by providing them with an all-in-one solution. Our cooperation with Paysafe, our valued partner over many years, benefits multiple audiences by allowing us to provide merchants with a wider variety of payment methods and enable customers to use their preferred payment method. As an agile and trustworthy partner, Paysafe is a pleasure to work with.”

Udo Müller, CEO of Paysafe’s eCash division, which encompasses paysafecard and Paysafecash, added: “I’m excited about extending our partnership with ZEN.COM to provide a cash-based deposit functionality with Paysafecash. Our eCash network is extremely well established and continually expanding, making this a very convenient and accessible wallet-loading option for ZEN.COM’s cash-based customers, especially as cash remains a cornerstone of the payment landscape in many of these countries.”