Paysafe’s Viafintech partners with comdirect to offer expanded cash payment services

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By Joy Dumasia

July 21, 2022

  • Barzahlen
  • Cash deposits
  • comdirect

viafintech, a subsidiary of the specialist payment platform Paysafe, has announced a new partnership with comdirect, a German direct bank and the Commerzbank AG brand. This collaboration allows comdirect customers to make cash deposits and withdrawals to and from their current account using Barzahlen/viacash, powered by Paysafe.

To use the service, comdirect customers select the cash function in their mobile banking app and choose the exact amount they wish to deposit or withdraw. This generates a unique barcode for the transaction, which is scanned at the POS terminal at one of viafintech’s more than 12,500 acceptance points in Germany, such as Rewe, dm, Penny or Rossmann. Customers will then receive the amount or pay the deposit in cash. No minimum purchase is required in store.

Cash remains a popular means of payment in Germany. According to Paysafe’s recent Lost in Transaction study, 74% of Germans said they would be worried if they could no longer access cash, and consumer advocates are pushing for new legislation to ensure continued acceptance of cash. cash by retailers.

Alena Kretzberg, Division Director, Digital Banking and comdirect, at Commerzbank AG, said: “We are committed to adding new innovations that digitize our services for the benefit of our customers. Our new viacash integration is a great example of how we are expanding and improving our services to provide our customers with greater convenience and choice.

“Cash management is often a challenge for neobank customers,” says Sebastian Seifert, co-founder and managing director of viafintech at Paysafe. “Some professions receive at least part of their salary, such as tips, in cash. Others often find it easier to track their cash spending. For both groups of customers, cash deposits and withdrawals are essential, and we are delighted to partner with comdirect to offer their customers a convenient solution through the Barzahlen/viacash integration.

IBS Intelligence reported that viafintech, part of the Paysafe payments platform, has announced a new partnership with Spanish food retailer Grupo IFA. The two companies will provide consumers with easier access to cash services by enabling cash withdrawals and deposits at grocery stores across Spain.

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