Cash is still by far the most widely used means of payment in Germany. This was stated by the Bundesbank in its third study on payment transactions.
Individuals pay 53% of their sales of goods and services with banknotes and coins. Based on the number of transactions, the cash share is even higher at 79%. Novalnet AG has therefore introduced the possibility of cash payment in online shops in cooperation with its partner Barzahlen.de. The new service is completely secure and provides online merchants with a 100% payment guarantee, as they cannot afford to pay or fraud. In the process, online retailers will in future be able to reach a much larger customer base than with the usual online payment methods.
Novalnet adds cash method to its portfolio the new payment method Barzahlen is aimed at all security-conscious consumers who are afraid of phishing or other data breaches, since no sensitive bank data must be entered. Likewise to the generation of over sixty-year-olds, who, for fear of financial transactions so far according to the study little or no online shops. In addition, Barzahlen can also reach customers who do not have a checking account or who do not have access to credit-based payment methods, for example because of bad scoring values.
When a customer buys in an online shop and selects the payment method Barzahlen, he receives a payment slip with barcode as a PDF download, via e-mail or a payment code by SMS. He goes to a retailer near him in Germany, shows the code at checkout, pays the open amount, and receives a receipt from the store as usual after the payment. Novalnet automatically and realistically sends a payment confirmation to the online retailer for fast shipping and low inventory costs. This means that this payment method is possible for every customer and 100% secure. Fraud is not possible here, neither at the customer nor at the dealer.
In the meantime, a whole series of well-known retail partners with more than 10,000 deposit points are already participating in the new cash payment method. The constantly growing branch network of the partners of Barzahlen.de such as REWE, Penny, real, – or the drugstores of already represents Germany’s largest private payment infrastructure. Customers remain flexible with it and can easily buy their online shopping locally with the daily shopping in the shop connect and pay cash. In addition, more than 800 companies already offer Barzahlen.de as a payment method for their goods and services.
Emmanuel Kirse, Chief Operations Officer (COO) at Novalnet, says, “The cash payment option for online purchases brings together the best of both worlds for some customers.” “On the one hand, consumers can buy products online that they do not find in stationary stores nearby, and on the other hand, they can take advantage of cash payments if they cannot or do not want to deposit bank account details online. Online retailers should therefore be open to this payment option in order to further expand their customer base. ”
Novalnet AG is a leading European payment institution for professional electronic payment processing and has been processing payments for numerous online shops since 2007. Behind Barzahlen.de stands the Cash Payment Solutions GmbH, founded in early 2011.