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Paysafe Partners With Huawei for Online Cash Payments in the Huawei AppGallery
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Paysafe (NYSE: PSFE) has partnered with Huawei to allow customers to use paysafecard for payments in the Huawei AppGallery across multiple European countries, including Germany, Italy, and the UK. This new collaboration aims to expand cash-based online purchases, making it accessible to millions. paysafecard, available in 50 countries with over 700,000 retail partners, enables secure online shopping without requiring sensitive financial information. In 2020, paysafecard reported a transaction volume of €4 billion, reinforcing its market leadership.
Positive
Partnership with Huawei enhances paysafecard's visibility and accessibility in the digital payment market.
Expansion into the Huawei AppGallery could increase user adoption and transaction volumes.
paysafecard has a strong distribution network in 50 countries, facilitating potential growth.
Negative
None.
Customers can now use paysafecard for payment in the Huawei AppGallery across several European countries
LONDON--(BUSINESS WIRE)--
Leading specialised payments platform, Paysafe (NYSE: PSFE), today announces a new partnership with Huawei, a leading global provider of information technology and communications technology infrastructure and smart devices. Paysafe’s online cash payment solutionpaysafecard is now available as an alternative payment method in the Huawei App Gallery in Denmark, Finland, France, Germany, Italy, Norway, Poland, Spain, Sweden and the UK. Plans to continue the rollout throughout most countries where paysafecard is available, will make cash-based online purchases available to millions of customers.
paysafecard, available in 50 countries through a distribution network of more than 700,000 stores, enables consumers to use cash to shop for goods and services online. Payment transactions are completed simply and securely, using the paysafecard account. Sensitive financial data such as bank account or credit card details are not required.
Commenting on the collaboration, Udo Müller, CEO of Paysafe’s eCash division, said: “Working with a powerhouse like Huawei extends the reach of our cash-based payment solution to millions of additional consumers. This is a major step on our path to making paysafecard the payment method of choice in the digital entertainment space. For cash-reliant consumers, it also makes purchases in the Huawei AppGallery more accessible, enabling them to make online purchases without a credit card or the need to reveal sensitive financial data.”
Dr. Jaime Gonzalo, Vice President of Huawei Mobile Services Europe, added: “The satisfaction of our customers has always been the lighthouse that guides our efforts. As such, we are excited to announce a secure payment method, thanks to our partnership with Paysafe´s eCash solution paysafecard. This allows us to expand the checkout options of our ecosystem, making our products and services more accessible to all Huawei Services users who prefer the use of cash, rather than bank cards and other billing solutions, when making payments online.”
About paysafecard
paysafecard, a market leader in eCash payment solutions, was founded in 2000 and is headquartered in Vienna. paysafecard is part of the international Paysafe Group, which provides a broad portfolio of innovative payment solutions and services. paysafecard offers prepaid and online cash solutions under the brands paysafecard, my paysafecard account, paysafecard Mastercard® and Paysafecash. Available in over 700,000 stores in 50 countries, paysafecard enables simple and secure online transactions with cash. By using a 16-digit paysafecard code, customers do not need an account or credit card to pay on the Internet, protecting their confidential financial information. In 2018, paysafecard developed Paysafecash, with which customers can shop online first and then pay securely for their purchases with cash offline at the next payment point. Paysafecash is already available in almost 30 countries. In 2020, paysafecard reached a transaction volume of 4 billion euros. www.paysafecard.com
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading specialised 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. Further information is available at www.paysafe.com.
About Huawei
Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. With integrated solutions across four key domains – telecom networks, IT, smart devices, and cloud services – we are committed to bringing digital to every person, home and organization for a fully connected, intelligent world.
Huawei's end-to-end portfolio of products, solutions and services are both competitive and secure. Through open collaboration with ecosystem partners, we create lasting value for our customers, working to empower people, enrich home life, and inspire innovation in organizations of all shapes and sizes.
At Huawei, innovation focuses on customer needs. We invest heavily in basic research, concentrating on technological breakthroughs that drive the world forward. We have more than 188,000 employees, and we operate in more than 170 countries and regions. Founded in 1987, Huawei is a private company fully owned by its employees.
