Payments platform, Paysafe has confirmed the expansion of its Paysafecash in Latvia.
The expansion seeks to provide a new secure and easy way to pay for online purchases in virtually any area of the retail space.
Udo Müller, CEO of Paysafecard, the team behind the Paysafecash, commented on the growth: “Paysafecash allows consumers who prefer paying by cash to participate in the world of eCommerce.
“We are pleased to offer this innovative and safe payment solution in Latvia. With this launch, we are meeting the needs of consumers who want to buy things online without disclosing their personal financial details, such as credit card or bank account information.”
It means that the firm is now available in 26 countries, as it looks to allow consumers who do not have a bank account or credit card, or who do not want to disclose sensitive financial data on the internet, to utilise the currency.
It comes as the Latvian ecommerce market continues to grow steadily at an annual rate of 6.1% and the current user penetration of 65.8% is predicted to increase to 68.5% by 20242.
The firm has had a presence in Latvia since 2011 with its prepaid cash solution Paysafecard. Paysafecash seeks to leverage the existing distribution network of the leading retail franchise Narvesen with about 250 payment points, further increasing the availability of eCash across the country.
