CashtoCode, the payments service for online merchants, today announced its availability in more than 300,000 retail locations across 10 new countries. This rapid global expansion of the CashtoCode network will give merchants instant access to countries across LATAM, Asia and Africa. Notable new CashtoCode retail locations include 7-Eleven in Mexico, Santander in Brazil, and Western Union in The Philippines.
In many of these countries, cash transactions play an important role in day-to-day life, and are a popular way of paying for digital services such as online entertainment, streaming, social networks and gaming. The CashtoCode service is designed for the large market sector of people who prefer cash payments, as a fast and easy way for online entertainment providers to reach hundreds of thousands of retail locations. It is ideal for merchants already in these countries, as well as those looking to expand there in the future.
CashtoCode has grown significantly in the last 18 months, both in Europe and following its successful launch in international markets such as Nigeria and Australia. However, this expansion represents the biggest increase to its global footprint to date. The scale and speed of this global expansion underscores CashtoCode’s position as an emerging force in the cash payments industry ready to rival the incumbent brands.
“This rapid expansion of our global footprint offers some big benefits to merchants and customers alike,” said CashtoCode CEO, Jens Bader. “Cash deposits have always proven to be an effective driver of incremental revenue, and many digital entertainment providers are exploring new ways of adding cash to their payments ecosystem.
“This expansion gives existing merchants the ability to immediately tap into a diverse mix of cash-centric countries and emerging markets. For customers who like cash, our service is secure, reliable and easy to use, and will fill a gap in the market for simple and accessible payment options. To put the 300,000 locations figure into perspective, there are 39,000 McDonalds locations worldwide.”
