PayPoint.net has now launched PayCash, a revolutionary payments service which allows people to pay in cash for the goods and services they buy online.

Increasing numbers of British consumers are abandoning their credit cards and turning to cash, a survey commissioned by PayPoint.net has found. One in five shoppers are now using cash, rather than debit or credit cards, more often than they did a year ago. The need to manage spending better (mentioned by 67% of respondents), concerns over debt (33%) and card fraud worries (21%) were the top three reasons behind the growing number of ‘cash consumers’. PayCash will allow these shoppers to keep their cards in their wallets & only spend what they can afford.

PayCash will also pave the way for the 4.8 million under 18’s in the UK, who are currently excluded from ecommerce, to shop online. Similarly, there are 6 million unbanked individuals* in the UK, or 11% of households that do not have access to banking services because of low income and/or poor credit rating, whose only independent method of payment is cash.

:: How does it work?

• Your customer fills their shopping basket
• On the payment page your customer selects PayCash
• A barcode is generated with the order confirmation and can be printed out
• Your customer takes the barcode to their nearest PayPoint outlet** where it is scanned and they pay cash for their order
• Your servers receive a real-time call back confirming payment and enabling fulfilment. You also receive a confirmation email
• You can dispatch goods or fulfil an order within seconds of cash being handed over by your customer

For merchants that already use a PayPoint.net payment gateway, no further integration is needed.  There is no additional charge to your customer and they do not have to register beforehand to use PayCash.

:: Special Offer

• Free set-up fee
• Free monthly charge for the first three months
• Transaction fees: 3.25% + 20p per transaction
• Minimum transaction £5 - Maximum £500 
• Guaranteed payments  

This special offer is valid for all sign-ups before 28th February 2009.  For more information and to sign up, please visit our PayCash page or call our online payment specialists on 0800 324 7052.

*ONS, HM Treasury
** 95% of the population live within 1 mile of a PayPoint terminal in urban areas or 5 miles in rural areas.