Paysafe enables cash payments for auto loans in the US with Exeter Finance
LONDON–(BUSINESS WIRE)–paysafe (NYSE: PSFE), a leading specialty payments platform, today announced a new partnership with Exeter Finance LLC, a leading indirect auto finance company headquartered in Irving, TX. Paysafe is expanding its presence in the U.S. auto finance payments space by offering its paysafecash online payment, or eCash, as the payment method for Exeter customers.
After entering the US auto finance payments market in the second quarter of 2021, Paysafecash is now available as Exeter’s new alternative payment method and first eCash solution for the company’s more than 500,000 customers. These customers can make secure online payments using Paysafecash, a payment solution for unbanked and underbanked consumers, or anyone who chooses to pay in cash.
To make a loan repayment, an Exeter customer simply logs into their account and selects Paysafecash as the payment method, generating an online barcode which they store digitally or print out. After locating one of more than 70,000 US convenience stores, pharmacies or dollar stores that serve as Paysafecash payment points, the customer presents the barcode and makes payment in cash.
Udo Müller, CEO of Paysafe’s eCash division, said: “We are delighted to partner with Exeter Finance, who share our commitment to promoting financial inclusion in the United States. Whether buying a car to get to work or to take the kids to school, Exeter Finance customers who prefer cash now have the alternative of Paysafecash, which meets their payment preferences and makes repayment easier total of their loans.
Troy Miller, Executive Vice President of Service Operations at Exeter Finance, said: “We are delighted to offer another payment option to our more than half a million customers. Paysafecash offers them a safe and easy way to pay in cash, and we are delighted to have such an alternative available to enhance our customers’ experience.
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading specialist payment platform. Its main objective is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet and online payment solutions. With over 20 years of online payment experience, an annualized transaction volume of over US$120 billion in 2021, and approximately 3,500 employees located in more than 10 countries, Paysafe connects businesses and consumers across 100 payment types in over 40 currencies worldwide. Delivered through an integrated platform, Paysafe solutions are geared towards mobile-initiated transactions, real-time analytics and convergence between physical and online payments. Further information is available at www.paysafe.com.
Paysafecash, from the leading integrated payment platform Paysafe, is an eCash payment method for customers who want to pay easily and securely online in cash. Available in nearly 30 countries, Paysafecash makes online transactions possible for customers who don’t have a debit or credit card, or don’t want to use them online. Payments are made by generating a barcode during online payment, which can then be scanned and paid in person at one of over 190,000 payment points. Paysafecash was launched in 2018 by the same Paysafe team that created the award-winning prepaid payment solution paysafecard in 2000. Market leader in eCash payment solutions, paysafecard enables customers to purchase prepaid vouchers which they can then redeem in line.
About Exeter Finance
Exeter Finance LLC is an indirect automotive finance company headquartered in Irving, Texas. Founded in 2006, the company underwrites, purchases, services and securitizes retail installment contracts with US automobile dealerships. Exeter works with over 12,000 dealers and over 500,000 customers nationwide, providing indirect financing for new and used vehicles. The company has an $8.5 billion financial services portfolio. For more information, visit www.exeterfinance.com.