CashtoCode (C2C), online platform for instant cash payments, has made a significant European expansion by making itself available in British, Italian and Greek markets.
This week's official announcement reveals that physical cash deposits via this method can be made by players from more than 60,000 retail locations on Old Continent. Operated by Fintech Funanga AG from Berlin, this platform was founded in 2016...
...and launched in Germany and Austria the following year, to great success. It serves as a point of connection and a massive network of online merchants, service providers and retails.
Direct Depositing Into iGaming Accounts
This unique payment system is the only one of its kind...
...for its closed-loop, single purpose nature that provides availability of depositing money directly into virtual wallets such as iGaming accounts, without the need for extra steps like additional registration.
Even credit cards or bank accounts are redundant - users can, instead, make physical cash deposits at one of point of sale locations.
C2C's app is very easy to use, as well, while also being extremely convenient and safe for online gaming. Via simple selection of a deposit amount within the app, players can generate the barcode and show it at the aforementioned point of sales so that they can pay in cash or credit within their accounts. C2C adheres to very rigorous anti-money laundering policies that all the major operators and regulated jurisdictions require.
Cash Will Not Go Away
As CashtoCode's CEO, Seth Iorio, explains, the success of this platform is based on cash's resilience and the fact that it remains a widely used and popular method of payment in Europe, despite predictions that it will soon take a back seat.
"iGaming operators that ignore cash are missing out on a huge market opportunity which is only set to grow in the years ahead. CashtoCode is perfect for any iGaming operator that wants to introduce a smart, closed-loop cash deposit alternative. The fact that CashtoCode is not transferrable between people like any other cash voucher out there, also adds an important layer of integrity to the transaction," he states.
The brand was successful in forming partnerships with a few top-tier gaming operators in 2018 and, as uptake in online entertainment secot continues to impress, C2C looks for continuation of this trend...
...and expects to conquer markets outside of Europe in second and third quarter of this year. "It promises to be an exciting year for cash in iGaming," exclaims Iorio.
Casting A Net Wide
The key to the platform's huge success in Germany and Austria was teaming up with huge retail chains such as newsagents, grocery stores, drug store chains, gas stations etc. This made for a very wide network of services used by a huge demographic who found themselves in a position to make convenient, fast C2C payments.
"CashtoCode now offers unique cash deposit option for iGaming operators across 60,000 locations", George Miller, europeangaming.eu, February 5, 2019.