Paysafecash integration with OSG platform allows unbanked and underbanked Americans to make online cash payments of government, utility, and medical bills
Paysafe, a leading specialized payments platform, 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.
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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.
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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.”
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