Monese, a UK-based firm providing banking service, has partnered with specialised payments platform, Paysafe, to offer its customers access to cash services, the firms announced today.
Paysafe’s eCash solution, Paysafecash, can now be used by millions of consumers to top up Monese accounts directly with cash, the announcement revealed.
Monese offers current accounts and money transfer services as an alternative to traditional banks. The mobile-only service provides accounts in Pounds sterling, Euros and Romanian leu.
The firm already has over 40,000 cash top up locations in the UK – the new partnership boosts the total number to more than 110,000 across Europe. In total Paysafecash is available at around 170,000 payment points in 28 countries (including USA and Canada).
Monese customers can now conveniently add cash into their account by selecting Paysafecash as the top up method. This generates a barcode which they can take to a nearby Paysafecash payment point to make the payment in cash.
Starting in France
The firms announced that the international roll-out of the partnership between Paysafe and Monese starts in France, with plans to extend the availability of the service into an additional 11 countries over the next few months. These additional countries are Austria, Belgium, Bulgaria, Germany, Italy, Luxembourg, the Netherlands, Poland, Portugal, Romania and Spain.
“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. 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,” Norris Koppel, founder and CEO of Monese, commented.
“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. 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,” Udo Müller, CEO of paysafecard, the team behind Paysafecash, added.