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What Is Paysafecash? The key things to know

September 1, 2022

While tap-to-pay is a popular payment method, lots of people still prefer to make cash payments and keep an extra layer of security. This is more common in certain countries than in others.

One of the best ways to do this is with Paysafecash; but what is it and how does it work? 

When it comes to making online purchases, there are many different payment methods and types of credit cards out there. The problem is that not everyone is aware of the latest payment options and how they can help.

One of the payment options that’s becoming more popular today is Paysafecash. If you’d like to learn all about it, and even pick up some personal finance tips, then keep reading. 

What’s Paysafecash?

Before we get into it, let’s cover what it is first. 

Paysafecash is an online payment method that allows you to pay for various purchases and bills with cash. It’s as simple as using an ATM and it covers a wide range of different payments including things like paying your invoices, repaying your loan installments, or even buying products.

This cash deposit method is unique because not many services allow you to pay for items online with cash. It’s also used by people in retail and even shop owners.

It has over 200,000 participating partner stores in over 30 countries.

The advantage of Paysafecash is that customers don’t need to worry about disclosing their personal information online, if it's worrying them. Instead, they can simply use this method by depositing cash in person.

One other big benefit that Paysafecash offers you is the fact that you can make 24/7 cash payments. This means that anytime you find yourself needing to make a purchase or needing to pay a bill with cash, you can simply go to your local partnered store and do it.

There are lots of stores to choose from, so there’s a good chance that you’ll have a location close to you.  

How does it work?

A lot of people hear about Paysafecash and think that it’s a complicated process that takes a lot of time. However, this is not the case, The process can be completed quickly.

Here’s how to use it

If you’re a customer, then the first thing you need to do is to create a Paysafe account which we’ll cover in more detail shortly. 

If you’re receiving a payment, then all you have to do is select the Paysafecash icon on your sales terminal whenever someone is making a cash deposit. This can be found next to your Paysafecard icon.

The next thing you need to do is scan the barcode that has been generated by your customer. This will then prompt you to enter the amount that the customer needs to pay you.

It’s important that you don’t change the transaction amount because in most cases this will cause the transaction to fail. Once you know the transaction amount, then you need to ensure that you have received the correct cash amount from your customer before you confirm the transaction.

After this, all you have to do is give the customer their receipt for the purchase they’ve made, and the entire process is complete. 

How to deposit with Paysafecash through bunq?

Depositing Paysafecash money through bunq is a quick and easy process.

To get started, all you have to do is go to the app bunq and choose the "add money" option. The first time you do this, we create a Paysafe account for you. If you have an account already, you can use the credentials to log in.

Once this is complete, you’ll get your barcode, and you can add this to your phone or device through multiple different methods, including: 

  • Downloading it as a PDF 
  • Adding it to your wallet 
  • Sending it as an SMS or email

After you’ve received your barcode, you can go to any of the Paysafecash-supported stores and you can make a cash deposit using your barcode.

If you have some trouble when depositing your money, then you can always ask at the counter for some assistance.

The cash funds that you have deposited will then show up in your bunq account and you can use them for future payments.

Use bunq today 

There are lots of amazing benefits that bunq offers you. Discover it for yourself with a free 30 day trial. All you have to do is sign up in 5 mins.

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