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Consumers in Switzerland can now pay cash for online shopping with Paysafecash

Mar 11, 2020

In February 2019, Paysafe launched Paysafecash in Switzerland, a secure and simple payment method which enables consumers to pay for online purchases with cash. Paysafecash was developed by the team behind paysafecard, a global market leader in online prepaid payments.

Paysafecash is particularly well suited to consumers who want to shop online but do not have a bank account or credit card - or who do not want to disclose their account or card data online for security reasons.

Paysafecash is user-friendly and free to use:

  1. At the online checkout, the customer selects Paysafecash as the payment option and generates a barcode.
  2. The barcode can be printed out or sent to a smartphone.
  3. The barcode is scanned at the nearest payment point and the customer pays the amount due in cash.
  4. The purchase is complete and the goods are delivered. The advantage for the customer: No account or credit card data are required or disclosed, and the purchase is therefore completely secure.

The value of Switzerland’s ecommerce industry is growing fast and is estimated to reach around CHF 7 billion (EUR 6.8 billion) in 2019, according to statista.de. The Swiss Federal Statistical Office estimates that it will reach around CHF 9.9 billion (EUR 8.7 billion) in 2023. With an internet penetration rate of 90% and a reported 137 smartphones per 100 inhabitants, the Swiss population has an existing affinity to ecommerce. Alongside this however, according to a study by the consultancy firm Bain, 82% of Swiss people pay for things in cash.

paysafecard, part of the Paysafe Group and a specialist in online cash payments, has had a presence in Switzerland for over 10 years and continues to be available at more than 8,000 kiosks, petrol stations and SBB ticket machines across the country. Paysafecash is building on this availability and is bringing the advantages of cash payments for online purchases to all parts of the country. It can now also be used to pay for online purchases at 1,800 ticketing vending machines at around 1,000 railway stations, regardless of which online store the purchase was made from.

Udo Müller, CEO of paysafecard, responsible for Paysafecash, commented on this milestone: "With Paysafecash, we are offering another innovative cash payment solution for online purchases. Paysafecash is ideal for consumers who want to buy online, but who do not want to disclose their personal financial data, such as credit card numbers or bank card information, on the internet for security reasons. Through Paysafecash, we are opening up access to the benefits of the growing ecommerce market to a large section of the population, from which it was previously excluded. The strength of our long-standing partnership with the SBB is another important reason why we can now offer Paysafecash to Swiss consumers, in addition to paysafecard."

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