Paysafe, a leading specialized payments platform, today announced a partnership with Output Services Group (OSG), a global provider of customer engagement and payment solutions. OSG, which provides online billing and payment solutions to many industries serving U.S. consumers, will now offer the Paysafecash™ online cash solution as an alternative payment method to their platform, further promoting financial inclusion for unbanked and cash-focused consumers to pay their bills online.
As an accelerator of digital transformation, OSG facilitates transactions across several industries, including property management, utilities, municipalities, and financial services as well as bills. The importance of solutions that bridge the gap between technological innovation and financial inclusion is reflected in a 2020 report from the Federal Reserve, which shows that 22% of U.S. adults are either underbanked or unbanked. Addressing this need, the integration of Paysafecash will allow federal, state and municipal governments, utility providers, and businesses to provide those with lower incomes and limited access to credit with greater payments flexibility.
The addition of Paysafecash to OSG’s B2C transactional suite will help businesses provide a payment option that is safe, convenient, and has no potential for chargebacks. Consumers can easily initiate the online cash payment by selecting Paysafecash, generating a unique barcode that can be stored digitally or printed. The barcode can then be presented to make a cash transaction for a bill payment at one of 70,000 participating retail locations such as a convenience store, pharmacy, or dollar store.
Udo Müller, CEO of Paysafe’s eCash division, said: “Smarter billing solutions that empower people to pay based on their payment preferences is a significant driver of financial inclusion. We’re delighted to collaborate with OSG to provide greater flexibility for U.S. consumers to pay their bills online using cash.”
Steve Karp, Chief Product Officer at OSG, said: “Paying a bill is a critical moment of engagement for our clients, and allowing our clients to engage with their customers when, where, and how they choose is a key element of our omnichannel payment strategy. We are excited to add Paysafecash as a payment option for our clients and help broaden their reach to more customers.”
About Paysafe Limited
Paysafe Limited (“Paysafe”) (paysafe.com) is a leading specialized payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualized transactional volume of US $100 billion in 2020, and approximately 3,400 employees located in 12+ global locations, Paysafe connects businesses and consumers across 70 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments.
Paysafecash, from leading integrated payments platform Paysafe, is an eCash payment method for customers who want to pay online easily and safely using cash. Available in nearly 30 countries, Paysafecash makes online transactions possible for customers, who do not have a debit or credit card, or who do not want to use them online. Payments are made by generating a barcode during the online checkout, which can then be scanned and paid for in person at one of more than 190,000 payment points. Paysafecash was launched in 2018 by the same Paysafe team who created the award-winning, prepaid cash solution paysafecard in 2000. A market leader in eCash payment solutions, paysafecard allows customers to buy prepaid vouchers that they can then redeem online.
Output Services Group (OSG)
Clients across a variety of industries turn to OSG (osgconnect.com) to make the most out of their client interactions, resulting in improved working capital and deeper relationships. Leveraging a blend of managed services and technology, client’s benefit from expertise, operational scale, and proprietary data that deliver a frictionless partnership focused on simplicity, reliability, and innovation. At the center of our business is EverView™, an integrated platform to link together the moments that matter in promotion, presentment, and payment. Said differently,“when you’re asked to pay, you pay attention.”