Specialized payments platform Paysafe today announced its expansion into Argentina with its eCash payment solution, paysafecard, providing a secure and easy way to pay with cash for online purchases, particularly in the digital entertainment space.

The expansion follows Paysafe’s recent acquisitions of Latin America-based payments companies PagoEfectivo and SafetyPay and enables further scale and cross-selling opportunities for the company in this high-growth market.

paysafecard enables consumers to simply and securely shop for goods and services online by purchasing pre-paid vouchers with a 16-digit code in cash and adding the amount to their myPaysafe account. Online payment transactions can then be completed by entering the account’s username and password.

The option to use cash opens up significant opportunities for eCommerce for millions of consumers who were previously excluded – either because they don’t have a bank account or credit card, or because they don’t want to share their bank account details on the internet, often for security reasons.

Chirag Patel, President Digital Wallets at Paysafe, commented on the launch:

“We’re excited to be operating again in Argentina, where eCommerce and online financial services are growing rapidly while the population remains underserved in terms of cards. We see great potential here to help our international merchant partners provide the right payments options for their customers and make more transactions.”

Let’s note that paysafecard had previously exited Argentina in 2019 due to regulations restricting the use of money for payments to international merchants. New local online regulations now allow paysafecard to take up operations again, leveraging a strong, existing distribution network to service international merchants cooperating with local partners.