Kasssh: New Online Cash Payment Solution Introduced to UK Market

Published 6 months ago

The UK e-commerce sector is set to transform with the introduction of Kasssh, a novel online cash payment solution. Kasssh, which recently exited stealth mode, is now accessible to all UK e-commerce platforms. The new payment method aims to cater to the varied needs of consumers, by bringing the convenience and security of cash payments to the digital landscape, hence increasing the accessibility of online shopping.

Cash payments account for one in seven of all retail transactions in the UK, making the launch of Kasssh timely for e-commerce platforms looking to incorporate traditional payment methods. The service enables customers to easily and securely pay for their online purchases with cash at local supermarkets, petrol stations, and newsagents.

Kasssh is not just a payment option, it’s a pathway to a smooth and inclusive shopping experience. Here are the reasons why it’s a significant checkout option for both retailers and consumers:

Broadening the Consumer Pool

Kasssh helps e-commerce platforms expand their customer base. It serves those who prefer cash transactions and may have been previously excluded from online shopping. As per the RSA’s 2022 Cash Census study, 15 million consumers still depend on cash for budgeting, a fact made significant by the ongoing cost of living crisis.

Promoting Trust and Privacy

Kasssh strengthens the bond between retailers and customers by providing a secure and discreet payment method, hence prioritising customer trust. With online fraud escalating, the new payment method safeguards consumers from exposing their bank details, thereby ensuring peace of mind.

Enhancing Flexibility

Kasssh offers customers the flexibility to decide when and where they complete their transactions. Consumers have access to over 28,000 locations, surpassing the combined total of all bank branches and Post Offices, and can easily pay at their nearest newsagent, supermarket or petrol station.

In 2022, the number of payments made using physical cash witnessed a significant increase of 7% compared to the previous year, amounting to a staggering 6.4 billion payments, as per a report by UK Finance. This is 1.5x the total UK credit, charge, and purchase card market. Despite the surge in digital payment methods, physical cash remains the second most popular payment method in the UK.

Founder Piero Macari expressed his excitement about the Kasssh launch, stating that by incorporating cash payments, more customers can enjoy the benefits of online shopping, regardless of their preferred payment method. Kasssh aims to make the digital economy accessible to all, and it is set to revolutionise the e-commerce landscape by making online shopping more inclusive, flexible, and secure.

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