Paysafe Partners with Deutsche Bank to Strengthen Its Cash Services for Postbank Customers in Germany
October 29 2024 - 9:01AM
Business Wire
Paysafe (NYSE:PSFE) has partnered with Deutsche Bank AG,
Germany’s largest retail bank, to provide private customers with
easy access to cash services. Powered by Paysafe’s barcode
solution, Paysafecash (marketed in Germany as “viacash”), banking
customers in Germany will be able to deposit and withdraw cash
seamlessly to and from their bank accounts. This service will be
available for private customers first for the Postbank brand in
November and is planned to be rolled out to the Deutsche Bank brand
in the second half of 2025.
In order to deposit or withdraw a specific amount, customers
create a barcode in their banking app using the feature “Bargeld
Code” (which translates to “cash code”). The barcode can then be
scanned at any of the 12,500 participating retail locations across
Germany, enabling customers to access cash services without having
to visit a brick-and-mortar bank branch or ATM. Retail locations
can be found in the banking app and include well-known brands such
as REWE, Penny, DM, Rossman and others.
Bob Legters, SVP Product at Paysafe, added: “We are proud
of our collaboration with Deutsche Bank and the technological
capabilities to digitalize cash with our Paysafecash solution. This
service will allow millions of their customers in Germany to use
Paysafe’s wide partner network and seamlessly access cash via their
mobile app. It also emphasizes the strategic importance of digital
solutions complementing cash services offered by traditional bank
branches and ATMs and the ongoing importance of cash for banks and
consumers in today’s digital world.”
Thorsten Peppler, COO Personal Banking Germany Deutsche
Bank, said: “With Paysafe’s barcode solution, we are expanding our
deposit and withdrawal service from bank counters and ATMs to a
German-wide network of 12,500 supermarkets and pharmacy locations.
This makes Postbank and Deutsche Bank the first banks with a large
branch network to offer this additional digital cash service option
in Germany."
About Paysafe
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading
payments platform with an extensive track record of serving
merchants and consumers in the global entertainment sectors. 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 25 years of online payment experience, an annualized
transactional volume of $140 billion in 2023, and approximately
3,200 employees located in 12+ countries, Paysafe connects
businesses and consumers across 260 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. Further information is
available at www.paysafe.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241029464039/en/
Paysafe Press Office PR@Paysafe.com
Paysafe (NYSE:PSFE)
Historical Stock Chart
From Oct 2024 to Nov 2024
Paysafe (NYSE:PSFE)
Historical Stock Chart
From Nov 2023 to Nov 2024