Payments

Paysafe partners with Deutsche Bank for retail cash services

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November 7, 2024

Paysafe, a payments platform, partnered with Deutsche Bank to provide Paysafecash for German banking customers. With this service, customers can deposit and withdraw cash from 12,500 participating retailers without visiting a branch or ATM, according to a press release.

Customers can create a barcode in their banking app with the Bargeld Code feature, which they can then scan at a retailer to deposit or withdraw cash at retailers such as DM, Rossman, Penny and others.

"We are proud of our collaboration with Deutsche Bank and the technological capabilities to digitalize cash with our Paysafecash solution. This service will allow millions of their customers in Germany to use Paysafe's wide partner network and seamlessly access cash via their mobile app," Bob Legters, SVP of product at Paysafe, said in the release. "It also emphasizes the strategic importance of digital solutions complementing cash services offered by traditional bank branches and ATMs and the ongoing importance of cash for banks and consumers in today's digital world."